Exrates

Exrates Review

What is Exrates?

Exrates is a centralized cryptocurrency exchange registered in Switzerland. It also has a representational office in China. It has been active since 2016.

Exrates Advantages

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.

US-investors

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:

Exrates Community

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 Fees

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 0.001 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. 0.00053 BTC per BTC-withdrawal. 

In any event, Exrates' withdrawal fees are greater than the global industry averages.

Deposit Methods

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.