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.
KYC on Exrates is voluntary (and thus not mandatory).
As main advantages with the Exrates-platform, the exchange lists five things. They have a high performance trading engine, capable of processing a lot of transactions very fast (10,000 transactions per second). They have 24/7 support. The trading interface (see below) use “Single Page Application” in order to run smoothly. More than 95% of the assets are held in cold storage. Finally, you can trade more than 600 trading pairs here. This is substantially more than how many trading pairs you will find at other trading platforms.
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.
Exrates Trading View
The exchange recently updated its design, making it look more fresh and more modern.
This platform’s 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
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
Exrates' trading fee for takers is 0.20%. Makers enjoy a slight discount on the trading fee and pay 0.15% in trading fees. These fees are below, or in line with, the industry average which has historically been 0.25% but is now creeping towards 0.10%-0.15%.
Exrates Withdrawal fees
Exrates' withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.
All in all, the fees that Exrates charge are in line with the industry averages.
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: