EXMO news

Frequently asked questions.

Dear users!

We take all your questions and suggestions under advisement! Considering that some questions are more interesting for you and arise more often, we decided to highlight top questions and give you detailed and clear answers to these questions:

1. Deposit limits for cryptocurrencies

Minimal limits for cryptocurrecncies are in effect since July,1 2015 and this is a compulsory measure. Transactions in cryptocurrencies can be free (subject to the certain conditions and usually taking long time for depositing), but in general minimal commission is charged (for example, bitcoin commission is 0,0001 btc + charge for every kilobyte of transaction).

Your transactions actually come to our wallets, and it is visible in blockchain, but these transactions overstock wallets and further it is impossible to transfer your funds to the cold storage. In bitcoin community this type of transactions is called “junk” or “spam”. Processing such transactions costs more than the total value of these transactions. We reported about these limits in the news on our website reasonably in advance – one month before developments.

2. Verification.

Verification is not a mandatory requirement for registration, trading and performing some operations. But after verification you will get an access to additional options:

- Wire Transfer option
- Raiffeisen SEPA operations (deposit/withdrawal commission 0%)
- USD and EUR cash withdrawal to bank card.

Verification is a necessary requirement from our partner banks that we and our users are obligated to meet in order to perform these operations.

3. Payment systems and commissions.

We are in constant search for new partners who will be able to provide us with gateways to accept payments at a lower percentage. But by reason of high risk, our partners constantly raise commissions. All our deposit and withdrawal commissions are composed of terms offered by our partner + transaction costs that derive from transferring funds from one payment system to another.
Sometimes we have technical issues with some payment systems; it does not mean that payment system is not functioning, it means that our connection with this system is not functioning correctly. When the risk that user’s money can get stuck in the middle of the process (get the status ‘system error’) occurs, we start technical works. You can find all operating payment systems and current commissions in 'Fees and Limits' section of our website.

4. Two-factor authorization.

To ensure maximum protection from hacking, we strongly recommend everyone to set up two-factor authorization (since recently it can be set up additionally for withdrawal, aside from confirmation by e-mail). This measure significantly reduces the likelihood of hacking.

It is not our whim and it is not a must, it is just our advice and recommendation!

Dear users, we give serious consideration to all your suggestions! Your opinion is very important to us! If you have any interesting ideas or requests, please contact us via e-mail: [email protected]

We hope that this article was helpful for you.

Thank you for being with us!
Exmo Team