Exrates Cryptocurrency Exchange
Exrates cryptocurrency exchange has been operating on the digital market since 2016. During this time, she has gained many regular customers and a good reputation for the platform on which it is best to learn how to trade cryptocurrency.
As the developers of the Exrates platform stated, in the process of its creation, they took into account the positive and negative experience of other cryptocurrency exchanges, as well as the feedback and wishes of traders. Thus, at the start, the Exrates platform was a carefully thought-out, but at the same time very simple exchange with an intuitive interface. One of the strengths that immediately catches the eye is its multilingualism. For a Russian-speaking user who does not speak English very well, being able to trade in Russian is a huge advantage.
The developers convince: there are many such advantages. Among the main ones are: safety, quality and convenience. Next, we will talk about what positive features Exrates exchange has from the words of its creators and customers.
Advantages of Exrates Cryptocurrency Platform
- Security. Before the launch of the project, potential errors that could lead to the leakage of personal data, access of attackers to the accounts of traders and their financial resources were finalized and eliminated. The platform server is located in Europe. Security is confirmed by SSL certificate, there is DDoS protection. The developers claim that they have developed a reliable distributed system that will protect clients’ financial resources from theft.
- User friendly interface. Experienced traders and third-party users with no trading experience participated in testing the site interface. This made it possible to take into account the characteristics and needs of all customers. The exchange is convenient for both an experienced trader and a beginner.
- The developers plan to constantly improve Exrates services, introduce new functionalities and expand trading opportunities. This happens not just at the request of the Exrates team – it happens according to the results of communication with customers, studying feedback and suggestions.
- Particular attention is paid to customer support, which operates daily, without weekends and holidays. This service employs professionals who can provide quality advice and provide expert assistance to each client of the site. All appeals are processed promptly and with a clear goal to help solve the problem.
- There is a referral system – you can invite a friend or partner to the exchange.
- The mobile application for iPhone and Android allows you to analyze the trading situation, open and close transactions on your smartphone.
Deposit, withdrawal and exchange of funds on Exrates
Cryptocurrencies and fiat money are used on the exchange. Deposit and withdrawal of funds and their exchange on the exchange is possible in US dollars, euros and rubles. For depositing funds you will have to pay 0.5% of the amount, which is a rather high commission compared to most similar sites.
The number of currency pairs (cryptocurrencies) is constantly growing. On the site you can trade not only such ‘monsters’ as Bitcoin or Litecoin, but also new, potentially interesting coins, for example, EDRCoin.
The functionality of transferring currency (digital and fiat money) between exchange customers has been implemented. To carry out such an operation, you need to enter the name of the recipient’s account, the system does not request any additional information.
Features of work on the Exrates exchange
Verification on the exchange is not necessary – to start trading, just register. Thus, customers are not required to send scans of documents and worry about the confidentiality of personal data.
There are basic tools for technical analysis at the site.
The trading commission does not depend on the trade turnover and amounts to 0.2% of the funds received from the transactions from the account. There are several types of orders, including stop loss.
Orders are placed in the same way as on most exchanges: identical counter rates are searched, then the orders are automatically closed when they are found. If the order is not fully executed or if the transaction is not found, it will have an active status in accordance with the balance or the full amount. If an order is purchased at a value greater than the current sale order, the operation is executed at the sale price.
Despite the many advantages that developers and regular customers of the platform talk about, there are a few shortcomings that take place here.
- Long term withdrawal of funds. The withdrawal period is 48 hours. As a rule, money is withdrawn earlier, but judging by the feedback of some users, sometimes the withdrawal of funds is delayed due to the lack of the necessary currency.
- Lack of margin trading.
- Too simplified functionality is ideal for those who learn cryptocurrencies from scratch. Here, experienced traders will get bored very quickly because of the modest analytical capabilities of charts and indicators. At the site there is a basic set of tools, but, as a rule, professionals need more opportunities for analysis. Such traders will have to use third-party analytical resources.
- There is no division of commission for taker / maker positions – the percentage of commission is the same for each side.
- Many agree that the exchange is good for diversifying trade in new currencies. It will not be suitable for trading basic tokens: it is worth looking for a larger site.
- There is no loyalty program that would reduce the commission for increasing trade turnover.
Exrates is a small platform for trading cryptocurrency, so it makes no sense to compare it with large exchanges with multi-million dollar daily turnover. This platform is good in its own way: it is convenient to learn to trade on it, build a strategy, analyze the market and comprehend the wisdom of crypto trading in real trading. And if you do not need in-depth technical analysis, this platform is quite suitable for constant trading.
Users of the Exrates.me cryptocurrency exchange note low commissions both for conducting trade transactions and for external operations (replenishment of a trading account / withdrawal of funds). Also among the advantages include the presence of not only cryptocurrencies in the listing of the service, but also fiduciary funds. Moreover, the exchange list is regularly updated, inactive coins are withdrawn from it – while traders are given a deadline to transfer balances, which is approved by the community. When a token is added, trading is activated, traders enter into many profitable transactions, which positively affects liquidity.