EXMO is a crypto exchange that allows users to buy, trade, stake, and participate in margin trading of a wide range of cryptocurrencies. It was founded by Ivan Petuhovschii and Edward Bark in 2014, with offices in Poland, Ukraine, Lithuania, the United Kingdom, and the US. The main aim of EXMO’s founders was to create a crypto exchange that was hassle-free and accessible to all, even those with no experience in crypto trading. The site now has thousands of active daily traders and more than 150 trading pairs, as well as its own EXMO token.
Both EXMO and Zengo offer platforms suitable for storing and trading cryptocurrencies, but there are fundamental differences in how they operate. EXMO is a centralized exchange platform that also allows users to participate in margin trading and staking. Zengo, on the other hand, combines MPC technology, biometrics, and sophisticated recovery capabilities to ensure a higher level of security. As a non-custodial wallet, Zengo allows you to keep full control over your investments. In addition, because it is a Web3-ready wallet, users can interact with a variety of Dapps while staying safe, thanks to its advanced Web3 firewall.
EXMO does not charge any cryptocurrency withdrawal fees, but you might have to pay certain network fees when moving funds to other platforms or wallets. This is something you’ll need to review before confirming any withdrawal.
EXMO has varying withdrawal limits for different types of cryptocurrency. Users will need to log in and view the Wallet screen of their account in order to check on the latest limits for each crypto token they hold.
Crypto Withdrawals can take anywhere from a matter of minutes to several days, depending on what token, when, and how you choose to withdraw. It also depends on the network itself. This means that a cryptocurrency withdrawal to an external wallet such as Zengo may take only a few minutes, and a fiat withdrawal could take several days.
There aren’t too many problems to worry about specifically in regard to EXMO when compared to other platforms, but there’s always a risk that transfers can go wrong if you put the wrong amount or destination address on the withdrawal page. If you put the wrong address, your funds may get lost for good, so it’s always best to review the details before finalizing a withdrawal.
EXMO allows you to withdraw crypto to fiat via the same withdrawal procedure outlined in the guide above. You can withdraw to several fiat currencies, including PLN, USD, EUR, and UAH. It takes up to three working days to process withdrawals by card or up to seven working days via bank transfer. Alternatively, you can withdraw your funds to Zengo, where they will be safely stored until you feel comfortable withdrawing them to fiat.
