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 View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. At this exchange, there is only an order box. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the purchase interface at Imexchanger:
Imexchanger Trading Fees
This particular exchange is different from most exchanges in the way that it does not offer crypto-to-crypto trading 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, but according to our calculations (comparing the prices offered by Imexchanger with the market prices reported by Coinmarketcap), the fee is approx. 12.20%. This fee is ridiculously high and is nothing short of a robbery. We urge any users to not buy or sell at this platform, as it is way too expensive.
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.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: