Exmo exchange and Exmo cryptocurrency

Exmo.me, cryptocurrency exchange

Exmo Cryptocurrency Exchange (go online) has been operating since 2013, first as an exchange, and later as a full-fledged crypto exchange. Eduard Anufriev and Ivan Petukhovsky are the founders of Exmo Crypto Exchange. Exmo is registered in the UK (the official legal address of the company is England, Polegate, 49 Station Road), and in case of serious disputes they will be resolved in accordance with the British laws.

But the main region of Exmo's activity is Ukraine and the CIS countries. There are many users from Russia on the exchange, - exmo.com is blocked in Russia, so users access the site through a mirror exmo.me.

The exchange is quite popular, according to its own data, the services of the site are used by about a million crypto-traders and investors. According to Coinmarketcap.com, Exmo Exchange ranks 46th by trading volume per day with $27,697,689 (data as of October 17, 2018).

Reviews

Reviews of Exmo Crypto Exchange contrasts: from enthusiastic to extremely negative. Supporters of the exchange note such advantages as easy functionality for novice traders, ease of use of the platform, convenience for arbitrage, as prices for cryptocurrencies sometimes differ significantly from prices on other cryptocurrency exchanges.

A lot of reviews, which call for caution when trading on the exchange. The dissatisfaction is caused by high commissions for withdrawal to the bank card and the fact that the site often hangs up during work. Some users argue that many bots are operating on the exchange, which make it difficult to work. Tech support responds for a long time. It is difficult to restore the password if it is lost.

Not very well made interface, critical information is not visible at a glance, other important information is missing altogether. In particular, many users note that it is necessary to complete verification in full before crediting funds to the wallet/exchange account. Because the service may require re-verification when trying to withdraw money. If this fails for some reason, the exchange can block funds in the account and the account.

Many people do not like the need to necessarily confirm the withdrawal via e-mail. Sometimes the exchange makes some changes in the work without warning, which affect the activity of users.

Traders who position themselves as serious market participants are not very positive about the simplified functionality of the exchange and suspect that many of the positive reviews of the exchange are fake.

In general, the results of many reviews can draw the following conclusion: in its functionality Exmo usual exchanger, the average level, the popularity is probably because it is well translated into Russian, in contrast to many other major exchanges.

It's not a good idea to keep large sums of money on it. Exmo can be recommended to novice traders for trading small amounts if they follow the instructions carefully and follow the news regularly.

Exmo cryptocurrency: a short history

The EXMO Coin (EXO) cryptocurrency crowdsale was originally scheduled for February 2018, with plans to redeem EXO tokens 20% below the market rate by April. The crowdsale was then rescheduled to run from April 26 to May 26, 2018.

It was supposed to be possible to buy EXO for bitcoin, litecoin, ethereum, deshkoin, ethereum, and eventually for dollars and rubles. EXO was to raise $300 mln, of which 45% was to be spent on the development of crypto exchange, and 50% on the launch of the margin lending service for traders.

50% profits from margin lending were to be distributed to token holders each month, as long as the tokens remained in the cryptocurrency user's account at all times. Profits were to be distributed in the same tokens.

It was also planned to start trading EXO in pairs with bitcoin and etherium, which would make the token a full-fledged cryptocurrency.

For the crowdsale period, the price of EXO token was set at $1, with a minimum purchase volume of 15 coins. Such gentle conditions could attract a lot of investors.


Tokens had to have the status of no less than securities. It was not necessary to be verified in order to buy tokens. It was planned to issue a total of 300250000 tokens and launch them on June 6, 2018.

The upcoming ICO aroused great interest and support from the community, actively promoted by the management of the cryptocurrency exchange, has collected a large number of positive feedback, many were waiting for the start of the ICO.

But on June 21 the crypto-exchange distributed the statement that it refuses the public stage of ICO (Fig. 0).

"Stable positive dynamics of all financial indicators of the platform and incredible growth of the number of platform users...allows to fully ensure the implementation of the business plan to launch new products and services from its own ...given the tightened regulation by financial and supervisory authorities in the field of ICO and cryptocurrencies, EXMO cannot guarantee the absence of unexpected changes in the legal field, which, in turn, may lead to risks for our investors. This situation is unacceptable for us, as the safety and security of our partners is in the first place for us", the cryptocurrency exchange reported (https://exmo.me/uk/news_view?id=2215). That is, the exchange refused to place tokens, on very interesting terms, and from 300 million dollars because of the fact that things are going too well and because there may be some changes in the legal field.

Cryptocurrency exmo

Fig. 0

As for regulation, nothing foretold its tightening, in any case, ICO itself is always risky enough, in this context the placement of EXMO tokens did not look anything special. And if there were supposed to be problems with regulation, why not organize the ICO so that there would be no such problems?

It can be assumed that the offering was cancelled rather because the market situation is far from ideal, and despite the conditions and the interest of the public, the required amount might not have been accumulated. In any case, it is unusual for a crypto exchange to refuse money under the pretext that it already has plenty of it. The whole truth about cryptocurrency read in this article.

How to get verified at the Exmo exchange

Let's look at the verification process step by step at EXMO Crypto Exchange. On the first page of the site there is a registration form. The interface looks simple (Fig. 1), the exchange is fully translated into Russian. Note that on the first page there is no transition to news, which is a disadvantage. Exit to social networks, which posted the latest events, are at the bottom of the first page.

How to get verified at the Exmo exchange

Image 1

By clicking on the "Registration" button, the user enters the corresponding service (Fig. 2).

Registration at the Exmo Exchange

Image. 2

Here you need to enter your username, e-mail, password, agree to the terms of the agreement, after reading it, confirm that the user is not a robot, and once again click on the "Register" icon at the bottom of the page (Fig. 3).

Eksmo Registration

Image. 3

There is a nuance: it is highly recommended to go to your email address and be sure to confirm it. Later on, if you do not confirm your email address, you may have problems with transactions.

Activation at the Exmo Exchange

Image. 4

The exchange does not offer to confirm email at registration, and this is its disadvantage. If you register without email confirmation, then after registration the user enters the wallet of cryptocurrency exchange and can proceed to its deposit. But if you confirm your account via email, then first the trader will find himself in authorization service, where he has to authorize with his data. And it's better to do it that way.

Successful registration on Exmo

Image. 5

After confirming the e-mail and authorization, the user gets into the trading terminal of the crypto exchange (Fig. 6), it is quite simple to master. There is also a chat, but to be able to communicate in it, you need to have 2000 dollars on your account. There is no particular point in participating in chat, at least for beginner traders.

Login to the Exmo Exchange

Image. 6

To enter money into the exchange, you need to enter the wallet by clicking on the sign above the chart. The wallet looks as simplified as possible (Fig. 7), in fact, there are only two buttons - deposit and withdrawal and a list of currencies. You can set up the wallet more individually in the settings, which are marked accordingly.

Enter money in the exmo exchange

Image. 8

When you deposit funds from a bank card, you must pass verification, as reminded by the announcement on the right (Fig. 8).

Deposit money to the exchange exmo

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There are ways to work with the exchange via other payment systems, without verification, but it is recommended to be verified, it will increase safety.

To verify your account, you need to prepare your passport (or other identity document), enter the number, series, date of validity, country of issue, full name, date of birth in the form offered (Fig. 9) and upload a color scan of passport to the form. The requirements for scans are quite strict; they are indicated on the right side of the form to be filled out, and it is recommended to study them very carefully.

Exmo Refill

Image. 9

You should also carefully read the requirements for what documents can be presented for verification (Figure 10). You need to confirm your understanding of the document requirements.

Documents for verification at Eksmo

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Only after going through the entire verification process and waiting for confirmation from the cryptocurrency exchange, you can start trading. The problem is that officially set for verification 24 hours are rarely fulfilled - many users write about it, verification lasts sometimes up to a month. But it is better to spend time on it.

What else does a crypto exchange have that should make it easier to use, but in fact sometimes complicates it? In the far right corner, when you click on the "Login" button, a menu pops up. Under "Settings" you can configure alerts, notifications and mailings, set up API keys, connect Google Authenticator, SMS notifications, see the history of sessions.

The settings also provide information about the Cashback program, which, according to official information, allows you to return up to 70% of commission paid to Exmo. The program is available to all traders. In the settings there is also a link to the referral program and the conditions of its use are specified.

In this section, you can view the trading history and track open orders. Here you can also cancel placed orders.

As for the APIs, the section with access to them is at the bottom of the first page of the crypto exchange website.

Here are the answers to typical questions from the support service and EXMOWIKI, and both "Support Service" and EXMOWIKI lead to the same page, which is a little strange.

Very useful for every trader section "Commissions and Limits" is also located here, at the bottom of the site, and all information is given in the form of a table with no active elements and coins are not in alphabetical order, you have to look them up.

Cryptocurrency trading at Exmo Exchange

To begin cryptocurrency trading, you need to go to the trading terminal by clicking on the "Trades" icon. The trading section has a filter of cryptocurrencies, a filter of trading pairs, pair setting, where you can choose prices by dynamics over 24 hours or by buy and sell price and so on. In the terminal, you can check the price rate and track the price movement on the chart. EXMO trading terminal is not complicated and its development will not take much time. Let's take a closer look at it.

In the upper left corner, you can see the highest and lowest price of the selected coin and the direction of the trend. By the way, the red icon next to "Support" is the latest developments on the exchange, but it is not easy to guess.

Cryptocurrency trading at Exmo Exchange

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On the right, you can select the desired options for cryptocurrency and currency pairs by clicking on the desired coin (Fig. 12). Then select the desired pair from the presented options.

Options for cryptocurrency and currency pairs

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Suppose we choose to buy bitcoin. Do not forget that our wallet/account must be funded. We go to the lower section of the trading terminal, where the trading service (Fig. 13) and the stock market (Fig. 14) are located.

Cryptocurrency trading

Image 13.

It is preferable to place buy and sell limits at once. Then you need to look at the prices at which bitcoin is being bought and sold at a given time. We want to buy a bitcoin bit, say, 0,013, and we put the price by clicking on the one we need in the exchange ticker - the same price will appear in the trading service (Fig. 14) or offer the price we consider to be the actual one.

Exchange glass

Image 14

And at that moment, when we were ready to show how to buy cryptocurrency, the exchange "hung up" and did not react to any of our actions. Since all the other sites and applications were functioning, therefore, it was the exchange that was the problem. This went on for about 15 minutes.

We did all the actions only to show how to trade on the exchange, we were not threatened with losses. We also wouldn't have incurred much loss if we had actually traded in the current period, because the dynamics of the crypto market are weak.

But if the exchange slows down during a period of high volatility, for which traders come to the crypto market, it will lead to a complete collapse strategieswhich we would have developed. Having determined the entry point, we would not hit it and would have to do the calculations all over again.

We would not be able to buy and sell quickly, and we would not be able to exit trading in time to lock in a profit or loss if we were worried about the exchange hovering again. And what if the exchange halted at the moment of placing limits or at the moment of withdrawal or crediting? Obviously, these are the problems that the authors of many reviews about the exchange talk about.

But that was, as it turned out later, only the beginning of the adventure. The next day, on October 18, around 9 a.m., the EXMO exchange warned that there would be scheduled work for 1 hour. This is a very important message, but if you did not specifically check the "Recent Events" section, it would be impossible to find out about the suspension of the exchange. The exchange soon went offline (Fig. 15).

The exmo exchange went offline

Image 15

When the exchange in an hour after the start of the "work" has not resumed its activity, there were explanations in Twitter about the suspension for 4 hours, after a while the duration of this pause has increased to 5 hours (Fig. 16). But the exchange did not work much longer.

Exmo Twitter

Image 16

Around midnight, one user, referring to the support service, announced on Twitter (Fig. 17) that there were only a few steps left to restore the crypto-exchange. Outraged reactions began to appear on Twitter.

Exmo Exchange did not work

Image 17

On the morning of October 19, Exmo Crypto Exchange was already working, also without prior announcements, without apologies for both the suspension and the hours-long delay in the restoration of work. There was no information about compensation for traders who lost an entire trading day.

After that, it's pretty hard to recommend working at Exmo Crypto Exchange. Unexpected suspension for a few hours of crypto exchange that works mainly in CIS is in any case a bad sign, even if it restored its work afterwards. Read more about cryptocurrency trading training read in this article.

Bot for cryptocurrency trading at Exmo Exchange

Exmo Bot v 1.2.3 was created for automated trading on Exmo crypto exchange: http://exmo-bot.co.nf/. It is recommended to download the bot only from the official link, because bots are quite popular means of hacking - for some time, the bot, taken from an unknown resource, functions properly, but the money is not sent to your wallet. What Other Cryptocurrency Signals Are Available read in this article.

Let's take a closer look at how to download and install the bot. The first thing you need to know: you need to register a separate account for the bot - not the one on the exchange. There is a warning about that, but it is very inconveniently located, you can see it only if you scroll almost to the end of the page (Fig. 18), but the user who came to download the bot is unlikely to guess about it.

Bot for cryptocurrency trading at Exmo Exchange

Image 18

It is reported that the bot automatically trades on the EXMO exchange, all currency pairs, for all the money the trader has or a certain amount. Each currency pair has its own settings.

Robot for cryptocurrency trading at Exmo Exchange

Image 19

The boot file of the bot is located on the Yandex, from which it is downloaded as a rar.file (Fig. 19). Unpacking takes a few seconds, after which the bot itself appears and the link to register an account (p. 20). This link takes us to the official site of the exchange and can proceed to registering an account.

Exmo trading robot

Image 20

After installing Exmo Bot v 1.2.3 need to configure it, select the currency and, if necessary, change the limit, as the programmed standard of 1000 rubles.

For Exmo crypto exchange you can find a few more bots in the network, such as Exmo bot v 2.5.1, EXMO Evolution BOT X v3 10, but do not trust neither the sources from which they are invited to download, nor the description of the bots.

Before using any bot on a regular basis, you should take some time to see how it works with minimal amounts. A bot can greatly simplify routine trader operations, but it can work at a loss in a not-so-volatile market.

Strategies for working at the exchange Eksmo

On Exmo, you can use any strategy accepted in crypto-trading, although, as we found out, strategies that require a high reaction rate is better not to apply.

Some users study the sources of information about cryptocurrency price fluctuations and noticed that the dynamics of bitcoin price to the dollar on https://bitcoinwisdom.com corresponds to similar indicators of Exmo, but on the exchange site they appear with a delay of several minutes - of course, this trend is not always evident.

Also, it is impossible not to notice that bitcoin price on Exmo crypto exchange differs from the price on other exchanges, sometimes significantly, which allows traders to "arbitrage" and it is one of the factors of popularity of Exmo. To do this, you need to compare prices for a particular cryptocurrency on Exmo and on another marketplace.

For example, let's look at how you can transfer money between Exmo and Bittrex exchanges to make money on the difference in exchange rates. To do this we need to have registered accounts on both exchanges.

The first thing to do is to choose a coin, such as Ripple (XRP). On Bittrex its price is $0.44, on Exmo it is $0.46. If we buy coins on Bittrex and sell them on Exmo, we can make money on the difference in rates.

Of course, this is not such a big difference, you need to calculate the losses, perhaps, commissions, price hikes or delays in crediting all the profits level out, and maybe even lead to minus. In any case, do not arbitrage in small amounts, it is not profitable.

In order to buy coins, you need to start a wallet on Bittrex, pass verification and credit it with money. In the trading terminal of Bittrex you need to select the appropriate terms of purchase and offer your price (Fig. 21).

Automatic trading at Eksmo

Image 21

When the coins are purchased, they will appear in the wallet, you need to prepare them for withdrawal, following the instructions.

After that, you can move on to the process of crediting coins to the Exmo exchange. To transfer coins to Exmo exchange, you need to go to a wallet on this exchange, select XRP and click "Deposit" (Fig. 22).

The process of crediting coins to the Exmo Exchange

Fig. 22

In the window that appears, click on "Create address" (Fig. 23) and within a few seconds exchange gives us the address for crediting (Fig. 23).

Exmo Cryptocurrency Exchange

Fig. 23

Receiving cryptocurrency into an Exmo account

Fig. 24.

This address and the withdrawal amount must be copied and pasted into the appropriate form in the wallet of the Bittrex exchange. Money is not credited instantly, even one confirmation of the transaction, which is enough for the transfer, takes time. Having received cryptocurrency to Exmo account, it is possible to withdraw it at a more favorable price than on Bittrex.

To transfer money between exchanges, you need to practice doing it quickly. It is necessary to master all necessary operations on both cryptocurrency exchanges well in order to perform them without delays.

But we must keep in mind that not everything depends on the diligence of the trader. Exchanges are unstable, coins or fiat may not get deposited as fast as we would like, which can negate the potential profit from arbitrage. This is partially prevented by choosing a mix of currencies where the price of a coin on one exchange is much higher than on another.

Arbitrage is not recommended during periods of high volatility because of too high risks of both losing in the price and not getting any money at all, because periods of high volatility are also accompanied by problems in the operation of exchanges due to the large number of traders and their activity burst.

Despite the fact that, in theory, the larger the amount, the greater the benefit from arbitrage, it is not worth transferring too much money to exchanges operating with obvious problems - there are many cases where coins simply disappear when being transferred between exchanges, and then it is almost impossible to get the money back.

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Отзывы

  • Why do you post shitbots that can not do anything, there are more advanced bots!!!

    Reply to this review
    • ya 7 January 2019 at 09:09

      For example?

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