US investors permitted
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 Imexchanger consists of four parts: general information, fees, deposit methods and security.
Imexchanger is a Russian cryptocurrency exchange. It feels unfair tospeak about a Russian cryptocurrency exchange without also mentioning YoBit, one of the first to ever exist. So there, now it’s mentioned.
This exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
Imexchanger Trading Fees
This particular exchange is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies between users. The exchange itself is the counterparty to the user wishing to make a trade. When buying a cryptocurrency from the exchange, the price offered by the exchange is way higher than the market price. Conversely, when selling a cryptocurrency to the exchange, the price offered is way lower than the market price. The mark-up or mark-down is not specified anywhere. This is potentially a big risk for you as an investor. Accordingly, we strongly urge you to make you own analysis of the fees and price differences at this exchange before executing any transactions there and before concluding that it is the best cryptocurrency exchange site for you.
Imexchanger Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant.
At Imexchanger, you can deposit through both wire transfer and credit cards. You have to do it through one of the offered payment services though (UniStream, Western Union, Perfect Money, Payeer etc.).
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information.
- Exchanges handle of course a lot of cash or coin deposits and withdrawals.
Imexchanger’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.