EXMO is a cryptocurrency exchange situated in the United Kingdom, it was founded in 2013 by its parent firm, EXMO Finance LLP.
With an average monthly trading volume of $ 1.5 billion, EXMO is one of Europe’s largest cryptocurrency exchanges.
Even though the EXMO exchange has less liquidity than others, it is a suitable place for beginner traders to start trading or investing in cryptocurrencies.
EXMO Finance LLP, the exchange’s owner, is a registered company that follows English and Welsh laws.
While the exchange provides an online wallet for consumers to keep their money, it does not give any insurance like other exchanges.
The EXMO exchange is regarded as a secure platform for purchasing and trading cryptocurrencies.
To prevent unauthorized access, EXMO, like many other exchanges, offers 2FA (two-factor authentication).
Users can also add a list of trusted IP addresses to their accounts for added security. Users will be warned instantly if a login attempt is attempted using another device with this system.
The fees on transactions are another great feature of the EXMO exchange. And so, in this post, we will take a look at the EXMO Exchange and the withdrawal fees for the top 10 crypto coins.
Key Takeaways
• A “transaction fee” or “network fee” is usually charged when withdrawing funds to crypto addresses outside of EXMO. This fee is paid to miners or validators, who process transactions and secure the blockchain network.
• EXMO withdrawal fees are dynamic, meaning they will vary depending on network conditions.
• The fee amount is based on an estimate of network transaction fees and is subject to change at any time due to factors such as network congestion.
• EXMO withdrawal limit is $500,000 and £10,000 when using GBP.
SEE ALSO: How to Use Leverage to Multiply Your Profit On EXMO
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EXMO withdrawal fees for top 10 crypto coins
EXMO charges no commission on depositing/withdrawing cryptocurrencies.
However, the systems themselves charge the following commissions for withdrawals (per transaction):
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Creating an EXMO Profile
Depending on the payment method and currency used to fund your account, anyone can open an account on EXMO and begin trading right away.
The website clearly outlines the fees for various payment methods and cryptocurrencies.
If you need to reset or recover your password, EXMO exchange makes it simple. Simply click “Reset my password” and follow the instructions that appear in your inbox.
How to Register
To open an account on the EXMO exchange, simply follow these steps:
• Go to this page and click the ‘Sign up’ button in the top right corner.
• After completing the captcha and agreeing to the terms, enter your username, email address, and password and click the ‘Register’ button.
• The EXMO team should send you a confirmation email within a few minutes.
• To activate your account, click the link in the email. If you do not receive your email, check your spam email folder as it may have ended up there.
There you have it. Your EXMO exchange account has been successfully created.
Depositing Funds on EXMO
Users can deposit 6 different fiat currencies and 20+ cryptocurrencies on the EXMO exchange. To deposit funds on EXMO, follow the procedures below.
Fiat currency
• At the top of the page, click the ‘Finance’ link.
• Click the correct ‘Deposit’ button after selecting the fiat money. EUR is used in this example.
• On your screen, you will now see all of the EUR payment methods.
• Choose the payment type you want to use, then click the ‘Please pass the verification link and follow the on-screen instructions to verify it. You can only then deposit fiat currency on EXMO.
You can deposit any of the 6 fiat currencies using any of the payment options described above.
SEE ALSO: 7 Crypto Exchanges With the Best Annual Percentage Yield (APY)
Cryptocurrency Deposits
• Follow the instructions in Steps 1 and 2 above.
• Select the digital currency you want to deposit and click the ‘Deposit’ button.
• BTC is used in this example.
Click the ‘Create Address’ button.
• The wallet address to which you must send your Bitcoins will now be shown.
• To send BTC, either copy the address or scan the QR code with your wallet.
After 1 network confirmation, your Bitcoins will be deposited immediately. You can also deposit any coin by following the steps outlined above.
Withdrawing Funds On EXMO
The EXMO exchange accepts both fiat and cryptocurrency withdrawals.
Fiat
To withdraw your funds using fiat payment methods, follow the procedures below.
• You must check that your payment method is already verified before submitting your withdrawal request.
• Log in to your EXMO account and go to the top of the website to the ‘Finance‘ option.
• Choose the fiat currency you want to withdraw and click the ‘Withdraw’ button.
• To make a withdrawal request, select a payment option and then follow the on-screen instructions.
Your funds will be credited to your account within a few hours or days, depending on the payment method.
Cryptocurrency
To move your cash to another crypto wallet, follow the instructions below.
• You must first open a wallet account on an exchange like Coinbase or set up a cold storage wallet like the Ledger Nano S or Trezor before submitting your withdrawal request.
• Log in to your EXMO account and go to the top of the website to the ‘Finance’ option.
• Choose the coin you want to withdraw and click the ‘Withdraw’ button.
• Click the ‘Withdraw’ button after entering the withdrawal amount and a valid wallet address.
• The coins should appear in your wallet immediately, but depending on transaction volumes, it could take up to an hour.
Final Thoughts
Every withdrawal request has a minimum amount. You won’t be able to request a withdrawal if the amount is small. To see the minimum withdrawal amount and transaction costs for each coin, go to the Deposit & Withdrawal Fees page.
It’s important to know that fees may vary at any time due to unforeseen circumstances such as network congestion. With that being said, we believe you now know the withdrawal fees on the EXMO exchange.
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