EXMO – review and feedback on a proven crypto exchange

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EXMO – review and feedback on a proven crypto exchange

The question of choosing an online platform for a user who is engaged in the exchange of small amounts of both crypto-currency and fiat money may seem completely frivolous if the problem is of interest to him in small volumes, 2-3 times a month. Plus, if he is not scared of scammers, he has a lot of free time to register an account, etc. And if a few years ago such users of the World Wide Web were very many, today the situation has changed categorically.

Nobody wants to lose 50-100 dollars at a bad exchange rate or lose their savings by believing the promises of professional scammers. The well-known crypto-exchange EXMO will protect you from such troubles and will enable you to exchange or trade digital / fiat money, without worrying that on one “beautiful” morning you can remain without your savings.

Why EXMO is an opportunity to work without the risk of falling into the hands of scammers

Experienced traders, who have been engaged in Internet trading for a long time, are well aware that there are no trifles in their business. The broker, its technical capabilities and legal status, directly the object of trade, serving sites – all this is the foundation, without which you can not succeed by selling currency or precious metals.

Beginning in 2020, the world-famous crypto currency exchange, supporting the activities of its resource in eleven languages, “not taking stars from the sky” in terms of daily money turnover, managed to win the reputation of a reliable business company. Quality software and EXMO application created allowed both novice and experienced traders to exchange currencies at the most suitable moment using any modern mobile device (and after 1-3% on the military technical exchange, when it cost 10 thousand US dollars, this is 100-300 dollars!).

Despite the fact that one of the best Russian-language sites does not have appropriate regulators of its activities, most of the clients of the web resource do not care about this issue. After registering for the login EXMO, the site’s clients quietly trust their funds, knowing that the administration will necessarily fulfill contractual obligations. The most convincing evidence is the hostage taking of one of the leading analysts of the exchange with the requirement of a huge buyout, as well as the influx of customers in 2020-18 when the system could not cope with the processing of so many technical operations. Employees of the web resource in question dutifully passed these exams, proving that they can work in this field of activity, even in the most extreme conditions.

It should also focus on the fact that the company is actively combating money laundering and always checks its users for possible involvement in terrorism, international crime and existing fraudulent schemes.

A few words about security

The administration of the resource, in addition to the traditional ones for crypto-instruments, uses the EXMO demo version (mainly on third-party resources), as well as two-factor authentication, so that users can see how it works. Generating a unique key almost completely eliminates the possibility that attackers will be able to access the account and financial resources of the platform users, regardless of which device they will use.

Developers of crypto-instruments have prepared a number of documents that regulate the relationship between customers, resource administration and any other entities that, under legislation (both international and national) or other reasons, can become participants in the specified financial transactions:

● User agreement (terminology, responsibility of the parties, risks, dispute settlement procedure, etc.).

● The policy of various options for depositing funds (including preventing the legalization of proceeds from crime).

● Other agreements and agreements.

Work on EXMO: an overview of key points

Today you can often find different information about EXMO: reviews, analytical articles, characteristics, etc., where it is stated that the main idea of ​​the existence of a resource is the exchanger of digital and fiat money. In fact, the site under consideration performs the role of:

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● a secure wallet with a certain period of storage;

● attraction of investments for realization of perspective programs;

● means for storing / transferring the rarest crypto currency.

Deposit / Withdrawal of money

To replenish your wallets, as repeatedly mentioned in the network of EXMO reviews, as well as the positive characteristics of the users of the platform, you can use:

● Plastic cards Visa / MasterCard;

The list of options for withdrawing funds is supplemented by: Yandex.Money and Qiwi.

Among the main financial currencies of the web resource in question, it is necessary to single out: the American dollar, the Ukrainian hryvnia, the euro and the Russian ruble.

Advantages of the exchange

This web resource attracts the attention of users not only due to the above factors, but also by a small minimum deposit of 0.001 PTS, quite acceptable amount of monthly transactions – 10 PTS (with 10% cashback), interesting commission offers: 3% and 0.2% on digital money. The affiliate program, which gives you the opportunity to receive 25% of the profits of each industrious referral and a fairly generous cashback system, enable this exchange, which starts its activity as a fairly ordinary exchanger, to constantly attract new customers, steadily increasing its own profit, as well as the income of its customers.

Binance: review and feedback on the famous cryptocurrency-exchange market

One of the main events of the world economy that occurred at the turn of 2020. is a sharp surge in the value of the main crypto currency of the military technical cooperation, the results of which are felt even today, and most likely this story will continue with serious consequences both for the global financial markets and for the national economies of most developed countries.

And if before the process of obtaining Bitcoin or other kriptomonet was concentrated in the hands of private owners, used for this purpose the power of their computers (inexpensive computers), with increasing blokcheyn technologies popularity, the number of investors who are willing to risk their capital in this area of ​​business has increased geometrically progression. Powerful “farms” are being created, the potential of which is used by miners, for the extraction of military technical cooperation, Ethereum, Litecoin, etc. Where in our time can we find financial instruments, the value of which can increase by 100 times within several months?

But, at the same time there is a legitimate question: how on the background of a huge number of web resources, many of which – the usual (and quite primitive) scams, find a trading platform, which will allow to take advantage of the situation and make money without risking their own capital . One such option is the Binance Crypto Currency Exchange. Established in the spring of 2020 (Shanghai, PRC), the trading platform quickly gained the reputation of a respectable company, whose clients are from almost all corners of our planet.

Key Performance Indicators of the Exchange Crypto-Currency Binance

Experienced analysts a year ago claimed that the Binance exchange was crypto-currency from the very beginning “doomed” to success:

● for the services the administration of a site never took “huge” commissions;

● The site will pay a lot of attention to advertising its activities and never saves on this expense item;

● on the speed of information processing, this resource belongs to the category of the fastest platforms;

●for operations with a daily volume of no more than 2 military-technical exchanges, there is no need to undergo verification;

●additional plus – created on the resource Binance application allows you to work with mobile resources (on iOS and Android).

Perhaps many players in the financial markets will argue that these are standard functions known to any mediocre marketer, but practice shows that with the right approach they give a fantastic result.

One of the main disadvantages of the platform is the fact that its activities are not controlled by serious international regulators. Many users registering for Binance login, fully trust the authority of the creators of the resource (the legendary Changpeng Zhao, his team and more than 3 million customers of the company).

Security

Every financier who is interested in modern crypto-coins believes that at the level of real capitalization of a management company that controls the activity of a web resource, even in the conditions of the global economic crisis, having its own crypto-moneys (the same BNBs that can be competently manipulated), these troubles do not play a special role important role. This is evidenced by the constantly growing number of new users from around the world, active support of ICO, as well as a team of professionals who perfectly understand that financial instruments today are not shares of the 1990s. of the last century, for success requires a completely different approach, the belief in your victory and unbending life optimism.

If you collect everything available on Binance demos and then create a small documentary, you will get material that will help you understand how the modern market of electronic payment systems functions, and explain many serious financial and economic categories in an accessible language.

What you need to know about the work not Binance

When composing a review of the Binance site, it is necessary to indicate that the developers of the resource have made up a site that does not cause problems with replenishment of the deposit or withdrawal of the received profit. For these purposes, the buttons “Deposit” and “Withdrawal” are provided.

Deposit / Withdrawal of funds

For the input / output of financial resources, users most often use: wallets / currencies: MTC, ETS, BNB or USDT, and if necessary, they are given the opportunity to change these crypto-codes for any other electric currencies. The reverse process is carried out in the same manner. If you analyze the feedback on the Binance platform on the World Wide Web, you can make unequivocal conclusions that this resource fulfills its obligations and, despite the rather rare emotional characteristics of dissatisfied “users”, who talk about fraud, delay in payments or incomprehensible ways of “forming” a course of its currencies, the company in question is trustworthy.

“Pros” and “cons” trading platform

In addition to the above-mentioned positive characteristics of the resource presented and its management company, it is necessary to give a few words to the team of highly qualified specialists who actually created this platform:

● the site will always help solve a wide variety of problems, both technical and financial;

●The administration of the resource understands that any crypto currency at a certain point reaches its “peak” of development, therefore they are constantly working to expand the range of services provided, attracting new users;

● Site customers can count on interesting prizes and bonus programs.

As for the shortcomings of the trading platform in question, in this regard, it is worth paying attention to the poor quality of the translation of the site into Russian, and, of course, the lack of fiat money, which for a platform of this level is a very serious flaw.

Cryptocurrency Exchange Reviews

Your first step into the cryptocurrency world will most likely occur through an exchange or brokerage. There are two main types of exchanges that we will discuss in this guide.

The first type of exchange are called fiat exchanges.

These exchanges allow the direct conversion of US Dollars, Euros, and most government-backed currencies into cryptocurrency.

The second type of exchange are called cryptocurrency to cryptocurrency exchanges.

These allow cryptocurrencies to be traded with each other. Crypto to crypto exchanges will be covered more in-depth on the second half of this page.

Depending on what cryptocurrency you are trying to obtain, you’ll need to use certain exchanges.

Coinbase

Based out of San Francisco, California, Coinbase is considered by many to be the most beginner-friendly exchange. It accomplishes this through its beautiful yet simple user interface.

Coinbase is a brokerage, meaning that instead of buying Bitcoin and other cryptocurrencies from other users, you are buying directly from Coinbase.

As far as fees go, Coinbase charges 1.49% on bank purchases and 3.99% on credit and debit purchases.

Due to the lower fees involved, it’s recommended to use your bank account when making large purchases.

Coinbase’s fees are on the lower end compared to other brokerages mentioned later in this guide.

Why use Coinbase?

You should use Coinbase if:

  • You are a beginner to cryptocurrency
  • You like low fees
  • You plan on paying via credit card, debit card, bank transfer, or bank wire.
  • Your country is supported by Coinbase (United States, Europe, Singapore, Australia, etc.)

Coinmama

Coinmama is another beginner-friendly cryptocurrency brokerage that focuses on credit and debit card purchases.

They offer instant delivery and sell Bitcoin, Ethereum, Ripple, Litecoin, and more to 40 US States, and most countries.

Coinmama doesn’t provide its users with a wallet on the exchange. Instead, users are asked to provide a wallet address to send the purchased cryptocurrency to.

As long as you have your own wallet, this shouldn’t be an issue!

Coinmama’s fees are slightly higher than Coinbase at 5% when a credit or debit card is used.

Recently, Coinmama has made it possible to sell Bitcoin back to your bank account. This feature is only available in European countries, but it’s likely it will be available to more as time goes on.

Why Use Coinmama?

You should use Coinmama if:

  • You plan to purchase cryptocurrency with a credit or debit card
  • Your country is not supported by Coinbase
  • You have a cryptocurrency deposit address for Coinmama to send purchased crypto to

Bitpanda

Bitpanda, called by some the Coinbase of Europe, is a popular brokerage that sells Bitcoin, Ethereum, Ripple, and more for US Dollars, Euros, British Pounds, and Swiss Francs.

Just like Coinbase, Bitpanda has a very simple user interface, making it easy for beginners to successfully purchase in cryptocurrency.

The exchange has several payment methods such as bank transfers, credit cards, debit cards, Skrill, Neteller and more. Depending on which method is used, there may be differing deposit fees.

When it comes time to transact on the exchange, Bitpanda charges 1.49% for buys, and 1.29% on sells making them an extremely competitive option.

Why Use Bitpanda?

You should use Bitpanda if:

    • Your payment method is supported (card, bank, Skrill, Neteller, etc)
    • You want to purchase a wide variety of altcoins
    • Your country is not supported by Coinbase

CEX.io

Headquartered in London, UK, CEX.io offers security, high liquidity, and cross-platform trading. It has somewhat high fees, margin trading, almost 100% uptime, and more.

The exchange was affected by a small hack long back but has had no issues for a while. It has over 2.8 million accounts and a wide variety of cryptocurrencies for sale.

CEX.io appears to have little no fees at first glance. They are able to do this by charging a premium on the Bitcoin price.

When a user buys cryptocurrency on their exchange, they are paying more for the actual currency compared to the other exchanges prices. This doesn’t matter too much as it is basically the same thing as a service fee.

Why use Cex.io?

      • Your payment method is supported
      • You want to purchase a wide variety of altcoins

Kraken

Kraken is another popular exchange based in the United States that’s been around since 2020.

In terms of trading fees, Kraken’s are very fair and scale based on your 30-day trading volume. If you’re a maker, they range from .16% all the way to 0%. Taker fees on Kraken range from .26%-.1%.

For funding options, Kraken offers deposits in USD (FedWire), EUR (SEPA), and CAD(Wire & EFT). Like most other options, if you own cryptocurrency already, they allow for several cryptocurrency assets to be deposited on the exchange.

A unique feature of Kraken is that it allows for margin trading with up to 5x leverage. When margin trading on Kraken, eligible accounts can borrow up to $500,000 to go long or short on a cryptocurrency.

Last but certainly not least, the exchange features a powerful and intuitive API for those wanting to take their investing to the next level.

Why use Kraken?

      • You want to margin trade (up to 5x)
      • You want to trade cryptocurrency on fiat and crypto pairs
      • You enjoy low fees
      • You want to purchase a wide variety of cryptocurrencies
      • Your country is supported

LocalBitcoins

LocalBitcoins offers a highly trustworthy escrow service and peer-to-peer (P2P) exchange.

On the exchange, users to trade among themselves. Due to the nature of the transactions on the exchange, there is a resolution and feedback system.

It also allows users to post a quick buy or quick sell ad on the exchange platform. It is one of the best cryptocurrency exchanges for peer to peer trading.

LocalBitcoins is one of the better exchanges for users concerned with their privacy. Bitcoin can be purchased in person without linking an identity to an exchange.

Why use LocalBitcoins?

      • You plan to use cash to buy cryptocurrency
      • You want to use an escrow service
      • You want a more private way of purchasing cryptocurrency

Bitstamp

Bitstamp is one of the oldest Bitcoin and cryptocurrency exchanges being founded in 2020. They have a wide variety of fiat vs crypto trading pairs.

As one of the oldest cryptocurrency exchanges out there, Bitstamp has proven to be one of the most reliable exchanges out there. They offer top of the line security, with highly encrypted personal information, and over 98% of assets locked in cold storage.

Although it’s based in Europe, Bitstamp users from the United States and other countries can send international transfers for a very low fee.

Want to trade on the go? Bitstamp also offers free mobile apps on Google Play and the App Store.

Why use Bitstamp?

      • You want high liquidity
      • You enjoy low fees
      • You want to purchase a variety of cryptocurrencies

Gemini

Gemini is an exchange based in New York, US that allows for the trading of USD against Bitcoin, Ethereum, Litecoin, Zcash, and more.

The exchange also offers high security and compliance, top of the line cold storage system that stores information offline, access controls, and multi-factor authentication.

For fees on Gemini’s brokerage service, expect 1.49% fees on buys and sells for orders over $200. Gemini’s brokerage service is an intuitive way for beginners to purchase cryptocurrency.

If you feel comfortable using their exchange feature, have your account switched to ActiveTrader mode. On this mode, fees scale base off your trading volume and are between .35% and 0% depending on if you are a maker or taker.

Why use Gemini?

      • You want a secure exchange
      • You enjoy low fees

Crypto to Crypto Exchanges

Here’s some information on some of the most popular crypto to crypto exchanges.

Binance

Binance is one of the newer exchanges but has impressed its customers on several occasions. They have some of the highest trading volumes on several of their trading pairs, and an enormous amount of coins available for purchase.

It is based in Hong Kong, with offices located in several other countries such as Japan and China. It is available to all countries and US states.

Binance introduced SAFU (Secure Asset Fund for Users), which takes 10% of all trading fees the exchanges earns, to give back to the users in the event of a hack. The exchange did have a hack in May 2020 but covered all user funds using the SAFU fund.

The Binance exchange features their own coin, Binance Coin, that allows users to save big on trading fees.

In June of 2020, the exchange announced that there would be a new exchange for US users to trade on that is separate from the Binance DEX. This is likely due to the regulatory status of cryptocurrency in the United States.

Changelly

Changelly takes a different approach to the exchanging process. Instead of letting users store their cryptocurrency on their exchange, they set up conversion transactions. Users select an input and output currency and an amount.

In the above example, I selected .1 BTC and an opposing amount of ETH is automatically determined at the going rate. Then, Changelly provides an address to send the Bitcoin to and asks for an address to send their Ethereum to.

This effectively cuts out one step and swaps currencies in real-time. In exchange for their services, Changelly charges .5% on transactions. Fiat currencies such as the US Dollar and Euro can be used, but have slightly higher fees. Pretty cool!
Visit Changelly

Bitfinex

Bitfinex is one of the larger cryptocurrency in terms of volume and users. It is based in Hong Kong and has trading fees of .1% for makers, and .2% for takers. It is important to note that BitFinex does not allow US users to sign up for their exchange.

Please note that Bitfinex is limited in the countries they serve and do not accept US signups.

Conclusions

So to sum it all up… each exchange has different pros and cons, so the best exchange for one person, might not be the best for another.

You should consider a number of things when determining the
best Bitcoin/cryptocurrency exchange for you:

  • How safe is the website and server? Secure exchanges are better.
  • How is the liquidity? The higher the exchange’s volume, the better.
  • What are the exchanges fees? The lower the better.
  • How is the exchanges customer support?
  • What trading pairs are available?
  • How many different payment options does it have?
  • Is the exchange beginner friendly?

Most cryptocurrency exchanges will serve their intended purpose in letting users buy cryptocurrency listed on the exchange.

The main differences are the exchanges fees, customer support, the number of supported coins, and supported countries. To ensure you have access to as many cryptocurrencies as possible, it may be wise to sign up for each exchange.

The important things to take away from this page is the difference between the two main types of exchanges.

The first set is commonly referred to as fiat exchanges, and allow users to use credit cards, debit cards, and bank transfers to purchase cryptocurrency. The most popular fiat exchange is Coinbase.

The other type of exchange is known as a crypto to crypto exchange and only allows cryptocurrencies to be exchanged with each other. No fiat currencies or debit/credit or bank transfers are used on these exchanges.

Frequently Asked Questions

How Do I Deposit Into an Exchange?

Depending on what type of exchange you are trying to deposit into, this will differ. If the exchange is a fiat exchange, you must link a payment method such as a bank account, credit card, or debit card.

If it’s a crypto to crypto exchange, you will find a tab or page on the exchange titled wallets, deposits or something of the sort. Click that, and from there you will see a deposit address for every cryptocurrency available on the exchange.

How Do I Withdrawl from an Exchange?

Similarly to deposits, this will vary depending on the type of exchange. Most fiat exchanges allow users to withdraw sold cryptocurrency back into their bank accounts. It is somewhat rare to find an exchange that allows withdrawals to a credit or debit card.

For crypto to crypto exchanges, you can most likely withdrawal from the wallet tab mentioned earlier. You will need to provide another wallets deposit address in order to send the transaction.

Lastly, some exchanges will have limits on withdrawals, that can be improved by verifying your identity.

Can I Buy Facebook Coin on An Exchange?

As of right now, it’s unsure just what will happen with Facebook Coin. We know it will be a stablecoin used to send payments on the social network.

Its regulatory status in the United States is still very unclear, but as time goes on we will know more.

Do I Have to Pay Tax on Cryptocurrency?

Absolutely! While the IRS hasn’t been very clear on their guidelines for cryptocurrency tax law, they are treating them like normal cryptocurrency at the moment.

Here’s an informative slideshow created by the IRS handling cryptocurrency.

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