Exrates Exchange Review


Exrates Overview

  • Exrates is a cryptocurrency exchange / digital asset exchange that has been in business since 2016. This was before the crypto ICO craze that started during the 2017 crypto bull market. An Exrates exchange review also reveals that their website is available in a few languages, including English.

    A huge drawback is the little information that is available about them, especially on their website. This makes it difficult to determine what rings true and what doesn’t. In addition, an Exrates exchange review reveals that they serve the crypto space via no less than a 119 active markets. They also offer trading access to various currency pairs, including fiat-to-crypto and crypto-to-crypto currency pairs. They seem to have a large trader base of almost 150,000 traders. This seems to enable them to provide ample liquidity for most currency pairs.

    They offer a feature where money transfers between users of their platform are possible by using nicknames. An Exrates exchange review also reveals that they have an experimental “prediction lab” called “Exrates Lab” running. When a BTC prediction is wrong, they pay 0.01 BTC into a special fund of which the proceeds seem to go towards a monthly lottery.

    Exrates seems to offer a highly professional coin listing service in conjunction with various well-known crypto outlets. It is a pity their trading website and/or platform doesn’t reflect the same level of professionalism. Both in terms of content and design.

    They seem to offer a REST API. This API allows for the automation of at least some of the actions that are available via the web interface.

    Exrates used to be registered in Switzerland, however, its website states that it is currently headquartered and registered in Estonia, under the company called DexTechnologies OÜ. Estonia is one of the few countries in the world that has certain clear regulations on cryptocurrency exchanges and licenses. Exrates’ website shows that the exchange holds an “Official European Union License” in cryptocurrency trading. However, an exchange review reveals that Exrates also has an office in China.
    Exrates charges a flat trading fee, as it doesn’t differentiate between takers and makers. It charges a flat fee of 0.20%, which is slightly lower than the global industry average, though it doesn’t necessarily provide a significant competitive edge. Information on withdrawal fees is not available, which could deter certain users from utilizing this platform.
    Security is ensured through a system of two-factor authentication, as is commonly used in many cryptocurrency exchanges, as well as advanced encryption techniques which are not explained in detail online. There are a lot of negative reviews on certain online platforms, mentioning that the exchange has mishandled users’ accounts. Though some of these complaints have been somewhat resolved by the customer support team, many remain unresolved. This is crucial information that investors should watch out for. When combined with the lack of information on the team behind the exchange and their security measures, Exrates does not necessarily offer a very trustworthy image at the time being.

    Exrates Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      32854.704 BTC

      • Exrates Total Trading Pairs


        • Exrates Margin Trading


          • Exrates Deposit fees


            • Exrates Fiat Deposit


              • Accepted Payment Method


                • Exrates Native token


                  • Native token smart contract


                    • Exrates Trading Markets
                      • Exrates Stablecoins trading

                        Exrates Withdrawals

                        • Daily Withdrawal Limit


                          • Exrates Withdraw fees


                            • Exrates Withdraw fees discount


                              • Proof of Reserves


                                Exrates Exchange Rating Analysis

                                Last edit 18.07.2019

                                • Exrates, although they do not disclose it anywhere, is apparently an Armenian-based exchange, offering a platform which displays very large amounts of fake volume and the ability to deposit many fiat currencies to trade against – which we suspect you will never see again, if you choose to entrust them with your funds. There is no team behind the exchange, at least not publicly, and the people who do choose to associate themselves with the exchange on LinkedIn look very unprofessional and as if they were paid to put their names under the exchange. The most alarming part about the exchange is the fact that every review or trust site which lists the exchange is flooded with reviews by actual users who had their funds stolen by the exchange or their withdrawals witheld from them. In conclusion, Exrates seems like a very dangerous place to put your money on – and we would not be surprised if it was designed to steal user funds in the first place.

                                  Exrates Exchange Additional Information