Exchange Exmo (Eksmo) - a marketplace that has a sustained interest of the public. Although in terms of cryptocurrency trading, it is difficult for a trader to roam, as there are not so many trading pairs as competitors, but unlike most other platforms, Exmo allows you to trade with rubles, and most importantly, it has a Russified interface.
In more detail about what this exchange is of itself and how to work with it, I will discuss later in this article.
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Exmo - cryptocurrency exchange
To be honest, Exmo can hardly be called the best exchange for a trader. It is not, and I will not deceive my readers. Moreover, I would say that this is a very unsuitable place for a trader who wants to trade and earn money by performing dozens of operations per day: only major coins are represented on the stock exchange, there are no such popular young cryptocurrencies such as Zcash or ripl.
For long-term earnings, Eksmo is quite an option, for the needs described above - definitely not, better go to Polonix or Kraken. Nevertheless, the stock exchange enjoys popularity, and I cannot fail to write a review about it, although in general I do not share the opinion of the Eksmo supporters. In any case, the exchange has some advantages, it continues to be used, although according to world indicators it has a rather weak result - a turnover of about 4 $ million per day, which is a hundred times less than the same Polonix.
The platform for trading and exchanging cryptocurrency with Fiat called Exmo originated in 2013 year. It is known that a whole international composition took on its development, and the founders proudly stated that all the mistakes of competitors were taken into account when creating their product. Apparently, they perceived a mistake and a large number of trading pairs, as they decided to deal only with the main cryptocurrencies, which somewhat limits the capabilities of users.
The following advantages of the Eksmo exchange can be noted:
- The exchange is not a party to the operations - it only acts as an intermediary between users and the guarantor of the integrity of the transaction
- Relatively moderate fees - 0,2% from transactions, no commission for depositing and withdrawing funds (not for all payment systems)
- User-friendly interface
- Many language versions, among which Russian-speaking
- The ability to trade with cryptocurrencies and Fiat, in particular with rubles
- 24/7 operational support service
- Free creation of several cryptocurrency wallets
It should be noted that in terms of security it is difficult to find fault with the exchange, apart from the standard set of protective mechanisms, it is worth noting the administration’s careful approach to this issue. In particular, in the history of Eksmo, there were unauthorized money access attempts, and the site managers were very sensible about such situations. The negative moment of popularity of the exchange is frequent DDoS-attacks, which can somewhat slow down its functions, but it is not critical.
Eksmo Exchange Review
Externally and by functionality, the Eksmo Exchange is very convenient. A pleasant, unobtrusive design does not distract from the bidding process, and the presence of the Russian-language interface makes working with the platform as comfortable as possible.
All the necessary information is available to users directly on the main, convenient sections allow you to explore every nuance of the exchange. On the right side of the screen, you can observe a kind of Exmo-forum - traders chat, in which users communicate with each other, as well as contact with technical support representatives.
Immediately from the start, you can go through a quick registration via e-mail and test the functionality of the cryptocurrency exchange personally.
So, having figured out on the stock exchange, you realized that you would like to start trading here - it is time to register and create a personal account:
- To do this, here on the main click on the button "Registration" - you can find it on the right side of the page.
- Next, specify the login, the current email address, password (confirm twice). After that, confirm that you are not a robot and have read the user agreement rules.
- Click the button "Registration".
Verification on the Eksmo stock exchange is not at all an obligatory step, but it gives its advantages. In particular, the user can withdraw money directly to the card, display currency in dollars and euros, as well as work with the payment systems Skrill, Neteller and Payza.
Verification involves the following steps:
- Verification of identity - with the help of an identity document, you should fill in information about yourself, as well as provide scans. On the provided copies the main data should be visible (the full list can be viewed on the site). If necessary, employees of the exchange may request a photo from you with the provided document.
- Address verification - involves the provision of copies of documents that contain information about your place of residence (it can be any document from the list provided on the site's website).
- Agreement - download the user agreement and read it. Next, print and put your signatures on each page, then upload scans of documents for verification.
During the day, the documents will be subject to verification by specialists of the verification department, and then they will be announced about their decision. If necessary, you may be asked to provide any additional documents.
In the beginning, I already mentioned that the Eksmo exchange offers users to start several cryptocurrency wallets at once. However, I do not advise you to keep your money in such vaults - it is better to use a reliable online version of the wallet, for example, Blockchain, or switch to the cold version of the wallet on your PC.
First, the stock exchange is a stock exchange - it can easily block your account for any reason, accusing all mortal sins and you cannot prove to anyone that you are not cooperating with scammers, do not buy drugs or weapons for these funds, and do not launder currency. In addition, do not forget that the stock exchanges also go to the scam and, for sure, your money will disappear in an unknown direction.
As for the functionality of the wallet, everything is pretty standard here: you can view balances, history of operations, deposit and withdrawal of funds. You can also see active orders.
How to trade on Exmo
After registration and replenishment, trade will be available to you, that is, earnings on rate fluctuations. The essence of this process is reduced to elementary speculation - buying cheaper and selling more expensive, but there are some of its own nuances that are specific to Eksmo trading. The trading platform does not have a demo version, so you have to immediately replenish the balance and conduct trading at your own risk.
Deposit / withdrawal of funds
You can replenish your Eksmo account with cryptocurrency, as well as dollars, euros, rubles or hryvnias. Depending on the method you choose, a different percentage of commission may be charged, so you should first get acquainted with the conditions in more detail.
Also keep in mind that there is a minimum amount of replenishment in the system - if you transfer less than acceptable, the funds will go to the bills, but the balance will not be credited. So as not to lose money, carefully read the rules for working with the platform.
You can deposit and withdraw funds through such payment systems:
- Cryptocurrency - BTC, LTC, DOGE, DASH, ETH, WAVES - no commission for input, there is a withdrawal
- Electronic payment systems - AdvCash, Perfect Money, OKPAY, Payeer, Webmoney, Paypal, Payza, Yandex Money - input commission from 0 to 5%, output from 0 to 3%
- Banks - bank transfer, Visa / Mastercard (output only), Privat 24 (input only) - input from 4%, commission for withdrawal by bank transfer 2000 rub
- Mobile operators - Megafon, Beeline, MTS - for withdrawal only, commission is 2,5%
Eksmo operations are carried out in two modes - as an exchange and directly as a trade. The marketplace itself explains this need by the fact that the exchange section is intended for users who:
- want to buy and sell a currency, but have insufficient experience for full-fledged trading
- do not set a goal to trade, but just want to invest in Bitcoin or Altcoins
- have no desire to delve into all the nuances of a full-fledged trading process and believe that they can simply predict the movement of the course and want to make money on it
In the “Exchange” section, the user is presented with the minimum number of functions - you just need to specify which currency you want to exchange and in which direction the operation will be performed. That is, here without additional ado you can simply change the cue ball to fiat or lightcoins, and vice versa - fiat to cryptocurrency.
In the trading mode, you can not only exchange one cryptocurrency for another or Fiat, but also operate with analytical tools of the trading platform, which will allow you to make successful transactions. This section is suitable for more experienced traders who already have some experience and will be able to take advantage of the full analytical functions of the platform.
First of all, the trader must understand that cryptocurrency trading is not a HYIP and not even a PAMM, where you can lose all the money under certain circumstances. As long as your funds in the cryptocurrency, even if it went into a strong drawdown, you do not lose anything - as soon as you are in a rush of panic you sell the crypt at a disadvantageous rate for you - that's when it’s worth talking about losses. In order to purchase a currency, carefully study the rate fluctuations, find out which of the coins began to fall in price.
If its drop reaches over 20%, then it is better to refuse such an investment and choose another option. In general, even a small percentage of the cost reduction can significantly increase working capital if you play with large sums. At the same time, do not forget about diversification and do not buy one coin for all available funds - give preference to several at once, distributing money in an equal or arbitrary amount.
In order to sell a coin, you just need to place an order for sale, specifying the quantity and price per unit. As soon as the price reaches the specified parameter, the transaction will take place, if you sell the cryptocurrency at the market price, the order will be executed instantly.
For successful trading, it is necessary to be able to carefully analyze the market situation and, on the basis of it, to buy or sell coins. On the Eksmo exchange there are convenient candlestick charts, glasses of sales and purchases, a history of operations that allow you to assess the real situation, the trends that have taken place and are now in effect. After reviewing this data, you can try to predict the direction of the exchange rate of a particular currency, which means it is likely to get a profit.
A glass of purchases and sales will help establish which mood prevails among traders. If you see large orders to buy or sell, you should understand that this can expand the direction of the course in one direction or another. All these nuances need to be able to identify and take into account in their operations. If the earnings for traders seem very difficult to you, then I advise you to read the article about mining cryptocurrency - Perhaps this direction will interest you more.
Exchange Exmo reviews
As for users' opinions about the stock exchange, it is mostly positive - many note the ease of use, reliability and functionality of the trading platform. At the same time, a significant part of traders recognize the obvious truth that in recent times, Eksmo has found it difficult to compete with larger cryptocurrency exchanges, which have a significantly larger trading volume, and the number of pairs provides investors and traders with more opportunities to make a profit.
I agree with the view that Exmo is inferior to competitors in the assortment of currencies, but one cannot but reckon with the fact that it is really very convenient and simple to use, the creators are constantly working to improve the site and add new functions, commissions are democratic, and the number of payment systems very extensive. Recently, the exchange's website at Exmo.com, fell under a federal lock and you can use its mirror - Exmo.me. Login and registration will not cause you difficulties, as there is a Russian version.
It’s impossible to say that Eksmo is a TOP exchange, but you shouldn’t write it off either - it can be regarded as an option for large traders who trade in popular destinations or for those who want to invest for a long time. Nevertheless, I do not advise using only one trading platform - it is worth diversifying funds not only for different coins, but also for distributing Stock exchange crypto-currency - this will protect your capital as much as possible. Good luck to you trade!
A professional investor with 5 years of experience with various financial instruments, maintains his blog and advises depositors. Own effective methods and information support for investments.