A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Exrates consists of four parts: general information, fees, deposit methods and security.
Exrates is a cryptocurrency exchange registered in Switzerland. It also has a representational office in China. As such, it is the only exchange in our Cryptocurrency Exchange List that is registered in Switzerland.
The exchange does not list US-investors as prohibited from trading. To the contrary, the exchange actually invites US-investors to trade on the platform. However, US-investors should always do their own independent assessment of any problems arising from their residency or citizenship. The exchange naturally does not provide any guarantees as to the permissibility in the U.S. for US-investors’ trading.
It should also be noted that KYC on Exrates is voluntary (and thus not mandatory).
The exchange recently updated its design, making it look more fresh and more modern.
Exrates’ trading interface is simple, intuitive and it seems to have what a normal trader requires. There is an order book (of course), some charts, an online chat, and a news & trading history feature. The exchange groups the trading pairs together into three categories: BTC trades, USD trades and pairs with local currencies, called “Local markets”. See picture below:
Exrates Prediction Lab
This exchange has also launched a so called “Prediction Service”, designed to faciliate trading. The Prediction Services function is aimed at predicting upcoming pumps and dumps. To check it out, you can go to this link: https://predictionlab.exrates.me/. And look at the design of it!! Really cool:
You can also join this trading platform’s community https://t.me/exrates_community to get trading tips from crypto experts and successful traders.
Exrates Trading fees
This Swiss cryptocurrency exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. They offer a flat trading fee of 0.20%, which is slightly below industry average (arguably around 0.25%).
Exrates Withdrawal fees
We have not been able to find this exchange’s withdrawal fees. This is potentially a risk for you as an investor (if they are not informed of anywhere we believe there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at Exrates before depositing any funds here and before concluding that it is the best cryptocurrency exchange site for you.
At this exchange, you can deposit through both wire transfer and credit cards. That is, as long as you have an account at Perfect Money, Advcash Money, LiqPay, NixMoney, Privat24, Interkassa, Payeer or QIWI. The fiat currencies possible to deposit through those services are USD,EUR, UAH and RUB.
The above can be helpful especially for newer crypto investors. one can deposit and output fiat, which is quite convenient for traders.
When assessing the security of a cryptocurrency exchange, many factors are relevant to consider. For instance, does it have 2FA (two factor authentication) functionality? Exrates does.
Also, this exchange’s security score is B, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This score is very good, in particular considering that a majority of all exchanges in our Cryptocurrency Exchange List only receives an F in the Mozilla Observatory-test. Great work, Exrates!
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: