Exmo is on the list of leading cryptocurrency stocks, which focus on CIS region. The platform started to be developed in 2013, but its main development peaked in 2014. At the moment the service is classified as international and multilingual and this makes the platform even more
popular for cryptocurrency brokers and traders from all over the world.
Exmo stock overview
Since the establishment in 2013, Exmo stock has started to grow rapidly. Now more than 1.5 million people are clients of the company. It is among 25 biggest cryptocurrency stocks in terms of volume of transactions.
Attractiveness of the platform is attributable to simplicity of an interface. There aren’t any troubles with withdrawals, even to bank cards.
The stock is a leader in CIS. At the same time, it is one of 10 European leaders. Because of its convenience it’s Exmo, which becomes an attractive method of cryptocurrency exchange for beginners and professional traders.
Features of the service are:
- verification is not required, unless you conduct operations with any bank account or other methods which have an increased level of security;
- a wide choice of currencies and cryptocurrencies;
- it’s a multilingual platform which is understandable even for beginners;
- necessary information on all available operations is presented on the official website, and its support team works 24 hours a day.
The last point is very important, as many clients use the stock as a trading platform because of its quick support team.
If necessary, all information is available on the official website. The stock is registered at 49 Station Road, Polegate, England. There are also additional offices in Moscow, Kyiv and Barcelona.
Registration was held in the UK in 2013 by several businessmen from Eastern Europe, particularly by Ivan Petukhovsky and Pavel Lerner.
A legal name of the company, representing the stock is EXMO Finance LLP.
Exmo complies with all AML standards, which prevent cyberterrorism and money-laundering. There is also KYC on user identification.
Registration starts with going to the official website. For all world citizens it is Exmo.com. But for citizens of Russia there’s a mirror, Exmo.me, as in 2017 Roskomnadzor started blocking various websites. You should press Registration button. Course of action after that includes the following steps:
- fill in login and a password, which you should make up by yourself;
- read user agreement and tick the box;
- type a captcha, and then you can register;
- account activation is done through e-mail, where a letter with a link is sent;
- after clicking the link, refresh the website and registration is over.
The main recommendation is to configure security settings, which will be convenient for the client, right after creating an account. The service will be much safer to use.
Verification is not an obligatory procedure. To conduct main operation it’s enough just to register and create and account. An important moment is that limits and some other factors depend on verification. After the procedure, you will be able to do operations with bank cards and transfers on deposits and withdrawals.
The procedure is standard. A client sends personal data, including address, information from passport and scans of documents which can confirm given information.
A client should also sign user agreement and send it together with other documents.
The result of verification will depend on validity of information which was presented by a client. A response is sent to email.
A standard period of time needed for the answer in a working day is within 24 hours from the moment of application.
Security system of the platform has two levels. The first one is conformity to all protection standards on international systems. The second one is set by a user himself after registration.
There are some additional tools, which can increase a level of protection. These are:
- IP address settings, a client can configure IPs which can be used for an access;
- two-factor authentication;
- confirmation of operations on withdrawals through given email address;
- having History tab.
Because of frequent failures and cyber attack, a new contemporary hardware was set. It has increased the level of security of the system. Additionally, there is an opportunity to appeal to support team.
An important point is need for changing a password after a particular specific period of time. By default, this period is 3-4 weeks. A big responsibility of a client can be considered a disadvantage of security, as the more time he spends configuring security settings, the more
reliable using the platform will be.
Deposits and withdrawals
Several methods of money deposits to an account are available. These are:
- bank transfers;
- bank cards (just as in the previous case you need to be a verified client);
- electronic payment systems;
- using exchangers.
Withdrawals are conducted by the same rules. Because of functionality of the system, a client can make money transfers or deposits via any method which suits him.
There isn’t a commission for cryptocurrency deposits, but there’s a fee for withdrawals and exchanges. Besides, each type of cryptocurrency and method has a different commission. That’s why you need to choose an operation very carefully.
Because of exchanging systems, withdrawals from Exmo can be conducted in any currency or cryptocurrency. This is possible because the platform has an international status.
Internal transfers are possible using fiat currencies. There are 5 of them, including rubles and hryvnias. Almost 20 cryptocurrencies are also available.
While working with money, don’t forget to pay attention to a commission, as it can change over time.
Exmo code is necessary for deposits and withdrawals without commission charges. The code can be used not to pay commission for internal exchanges, for example. It’s possible to create the code in any currency used on the platform.
Commissions and limits change very often, that’s why using code can help to reduce losses while doing money transfers or operations.
Creating a code was free in the past. But from May 2019 it can be done only for money.
Generating the code in an account and features of the code has remained the same.
Pros and cons
Exmo has a lot of features which distinguish it from other companies in cryptocurrency market (Advanced cash e.g). First of all, you need to pay attention that the stock is a trading platform with a huge number of cryptocurrencies.
Advantages of the system are:
- a wide choice of currencies and cryptocurrencies;
- having a referral program;
- an opportunity for a client to customize settings in an account, including security, by himself;
- the platform develops very quickly and has millions of clients;
- an international level with a huge number of partners;
- an opportunity to make deposits and withdrawals to electronic wallets and bank cards;
- a convenient trading platform, which has enough functionality.
The main advantage of the stock is its simplicity of use. There are not any equivalent services for users who speak Russian.
But there are also several disadvantages. These are:
- A simple functionality while trading is convenient for beginners, not for professional traders. A stock is going to fix this problem. It will have a lot more tools for work and various operations.
- Security of the stock is not on a high enough level for its status, so there’s still a chance of being hacked. This is a serious problem, especially if a user doesn’t care about a personal security.
- The main domain was blocked in Russia.
The last downside can easily be avoided using the mirror, but court’s decision on the website haven’t been appealed yet. Although it didn’t affect clients from Russia using the platform.
Exmo is one of the leaders in the field of cryprtocurrency trading. This has been achieved due to a simple and convenient interface and a good level of support for users. The stock has a lot of features, which allow conducting operation in currencies and cryptocurrencies very profitable.
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