For novice traders in the cryptocurrency market today, the main threat is the opportunity to be left without your deposit. In addition, they are especially afraid of missing their chance to increase their deposit several times, considering the volatility of cryptocurrencies on the EXMO exchange, which can bring significant profits to the trader.
First of all, you need to clearly understand that the exmo exchange is the most visited among the Russian-speaking population. About half of such traders on cryptocurrency exchanges in the CIS countries prefer it. Initially, this internet service was designed to exchange digital assets at the most optimal rates.
Currently, there are more than six million registered users on the exmo exchange, and at least twenty thousand traders are regularly online. It is these eloquent indicators that, just as opportunely, characterize the high level of trust of this site for potential newcomers. However, if you read the reviews of users of this resource, you can note a number of contradictions, which does not prevent her from entering the TOP-10 of the best thematic sites on the planet in recent years.
General market overview
In order to really make money on the ehmo exchange, you need to qualitatively study its functionality and carefully familiarize yourself with the interface.
Despite the rather large number of traders dissatisfied with this business platform, it should be objectively noted that today it is one of the safest and most reliable exchanges in the global cryptocurrency market. Experienced analysts say that with a careful study of the capabilities of the Exmo exchange during the trading stage, no one can have significant problems.
EXMO exchange advantages
The Exmo exchange has mastered the world scale thanks to the use of nine languages on it, including Russian. The use of the Russian-language interface turned out to be a determining factor for traders located in the territory of the post-Soviet space. After all, language barriers in the form of subtleties and nuances can seriously affect the quality of trading in cryptocurrency, which has recently been quite unstable. It will be much easier for a beginner to work with a Russian-language exchange, when the nuances of trading will be perceived in their native language.
The real advantages of the Exmo exchange are also the intuitive interface developed by experienced specialists, based on all the accumulated knowledge of trading on similar platforms. The trading terminal itself is a simple structure consisting of the following nine parts:
- filter of trading pairs, the parameters of which contain all the necessary thematic information about the value of the selected cryptocurrency;
- the function "Currency Pairs Setting", which allows you to simply make quick access to the necessary trading information and select the directions of interest for the most optimal trading on the exchange;
- exchange rates in all directions;
- pricing schedule;
- a chat that requires a deposit of two thousand US dollars (not very relevant from the point of view of obtaining important information for trading);
- creating orders;
- my active orders;
- placed orders and trading history;
- trading at the market or limit.
This functionality allows a trader to buy cryptocurrency at the price of existing offers or independently form an order to sell it with a preliminary calculation of profit and volatility. When placing an order, it is necessary to understand that the profitability of the transaction will be reduced by the exchange commission, which is 0.2% of the formed amount. It is important for beginners to understand the very philosophy of the exchange. And for this, at the first stage, it is recommended to trade exactly on the market, and only then switch to trading with limits. Here there is an excellent opportunity to make ruble or multicurrency transactions in cryptocurrencies by creating appropriate wallets.
Disadvantages of a cryptocurrency exchange
Professional traders, along with the obvious advantages of the EXMO exchange, also note some of its disadvantages:
- lack of a complete set of tools and assets;
- a high level of exchange commission for depositing or withdrawing funds;
- too serious level of security of transactions, which necessarily implies user verification when withdrawing funds to a bank card.
Thus, many traders are simply discouraged that they cannot achieve an acceptable level of profitability due to the high fees charged by the Exmo exchange. In addition, not everyone likes the fact of the user verification procedure.
Testimonials
Naturally, before registering on the Exmo exchange, you need to familiarize yourself with the reviews of more experienced users on neutral information platforms. However, it should be understood that a significant part of thematic information refers to the direct competitors of this exchange or to those users who have not fully understood its functionality. Therefore, it is important to tune in to a detailed study of the capabilities of the exchange and get the first personal experience. After all, all the problems associated with cryptocurrency trading are simply impossible to comprehend at a theoretical level. This requires direct practical skills, which can only be obtained empirically, and not on the basis of someone else's experience.
The most important advantage of the Exmo exchange is the simplicity of the interface, which provides the fastest possible exploration of the possibilities of trading digital currency in the cryptocurrency market. Here it is absolutely not necessary to invest a significant financial resource. It is enough to practice ten dollars to fully understand the technique of working on the site: how to replenish or withdraw money from the wallet, as well as the principle of trading in general.
In addition, the Exmo exchange can be regarded as the safest trading platform in our country, where you can most profitably exchange cryptocurrencies. Here, you can safely leave your funds, despite the prevailing opinion of some traders that, to heighten peace of mind, you should not store such values on third-party resources.
If you have any questions about withdrawing funds, for example, to a bank card, you should contact a special technical support service. To guarantee the reliability of the transactions, the Exmo exchange requires traders to confirm the email address specified during registration. This must be done without fail. Otherwise, such users will not receive written notifications about money transfers, and the funds themselves, accordingly, will continue to remain in the accounts of the exchange.
You should also take into account such a nuance of working with the Exmo exchange, when the efficiency of the technical support service wants to remain the best. This is objectively due to the active influx of new users, the wave of which reaches critical levels since the end of 2017. Sometimes a response to your inquiries can be expected within a month. In this case, it should be borne in mind that such are the realities of today for most of the current resources of this kind. An alternative option is to contact online chats. Moreover, in order to avoid confusion and again delaying the time with the answer, you should formulate the request in one message.
Despite frequent complaints from traders about the size of the Exmo exchange commission, you should objectively look at this issue. After a careful study of the problem, it is clear that it is at a very competitive level. And with a well-thought-out approach, there is always an opportunity and significant savings on this. When transferring an amount to an account, you should always take into account the limits. Otherwise, the funds will simply not be transferred.
