Comparison of Exmo vs Switchere [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Exmo vs Switchere comparison!

Your expert: Alejandro Borja

exmo

Exmo

  • Threenvest valuation: 3,5/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

switchere

Switchere

  • Threenvest valuation: 3/5
  • US legal: Yes
  • Security: High 4/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

≤0,30%

Earns

Yes

Customer service

3/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

4.0 – Reasonable fees with strong local support in Europe.
3.9 – Reasonable fees with additional benefits for instant purchases.

Level

≤0,30%
only card 3.60%

Brief explanation

Exmo employs a straightforward fee structure with competitive rates that cater to a wide range of traders. The exchange charges a flat trading fee starting at 0.3%, which can be reduced based on trading volume and by using Exmo’s native token, EXM, for fee discounts. The maker and taker fees are equal, simplifying the fee calculation process for users. In terms of deposits, Exmo does not charge any fees for deposits made through most payment methods. However, withdrawal fees are applied and vary depending on the cryptocurrency being withdrawn. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, which is slightly below the global industry average . Overall, Exmo’s fee structure is transparent and competitive, offering lower fees for high-volume traders and those utilizing their native token for transactions. This makes it an appealing option for both casual and frequent traders looking to minimize their trading costs.
Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Exmo

exmo
Read exmo review
  • Year Founded: Exmo was established in 2013, giving it over a decade of experience in the cryptocurrency market. This long-standing presence indicates stability and reliability in the industry.
  • Volume Managed: Exmo handles a substantial daily trading volume, which ensures high liquidity and smooth transaction processing. This high volume also reflects the platform's popularity and trust among traders.
  • Number of Users: With a robust user base, Exmo supports millions of traders worldwide. This extensive user adoption is a testament to the platform's credibility and trustworthiness.
  • Reputation and Reviews: Exmo has garnered positive reviews for its reliability, user-friendly interface, and competitive fees. The platform's reputation is reinforced by its commitment to security and continuous improvements, making it a trusted choice for many in the crypto community.
  • Security Methods: Exmo employs advanced security measures, including two-factor authentication (2FA) and cold storage for cryptocurrencies. These protocols ensure that user funds and data are well-protected against potential threats.
  • Pros
  • Low trading fees.
  • Wide range of trading pairs.
  • Supports multiple fiat currencies.
  • Cons
  • Limited payment methods.
  • Restricted customer support channels.

Read exmo review

Switchere

switchere
Read exmo review
  • Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
  • Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
  • Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
  • Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
  • Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.
  • Pros
  • Easy for beginners
  • No registration for small buys
  • Instant card purchases
  • Cons
  • Limited cryptocurrency options
  • Higher transaction fees

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

EXMO EXCHANGE LTD.
Unknown

Regulation

Registrado en el Reino Unido
Not regulated

Year founded

2013
2019

Founder

Ivan Petukhovsky and Pavel Lerner
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
No

Card

Yes
Yes

Comparative table

Exmo FEATURES Switchere
The minimum trade amount on Exmo is low, making it accessible for new traders.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Exmo has competitive trading fees, with a flat fee model starting at 0.3%, which can be reduced based on trading volume .
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Exmo supports over 50 cryptocurrencies, providing a good range for trading but fewer than some major exchanges .
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Exmo offers around 180 trading pairs, giving users reasonable options for trading .
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
Exmo’s website is transparent, providing detailed information on fees, security measures, and supported assets .
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
Exmo does not offer its own credit or debit card for purchases with cryptocurrencies .
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Exmo employs robust security measures including cold storage for the majority of user funds .
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Exmo does not currently offer staking and reward features, which limits earning opportunities for users .
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Exmo provides a user-friendly mobile app and desktop interface, ensuring accessibility for trading on the go .
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
While Exmo offers 24/7 live chat and email support, response times can be slow, affecting user satisfaction .
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Exmo supports multiple deposit and withdrawal methods, including bank transfers, credit/debit cards, and electronic wallets .
Deposit and Withdraw
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Basic charting tools, technical indicators
No significant tools, mainly a buying platform

Mobile APP

No
No

Security

High 4,5/5
High 4/5

Additional features

Margin trading, staking, Exmo cashback, fiat on/off ramps
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

50+
10+

User-friendliness

Exmo provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and a user-friendly platform, making it a good choice for European traders.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

United Kingdom, Russia, Ukraine, Kazakhstan, Poland
Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Ideal for European traders looking for a reliable platform with competitive fees and a user-friendly interface.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, RUB, BTC
EUR, USD, BTC

Account

Trading

EXMO is a European exchange with a good range of cryptocurrencies and easy fiat integration. It offers competitive fees but lacks advanced trading features.
Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

EXMO supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with competitive fees.
Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

EXMO provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

EXMO provides support through email and live chat. The support team is responsive and available 24/7, making it convenient for users needing immediate help.
Switchere offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

EXMO ensures security with 2FA, encryption, and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some users.
Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert at Threenvest, I recommend Exmo for its robust security measures, low trading fees, and support for multiple fiat currencies, which make it accessible and cost-effective for a wide range of traders. While the user interface could use an update and customer support response times can be slow, the platform’s reliability and comprehensive features outweigh these drawbacks. Exmo is a solid choice for both new and experienced traders looking for a dependable and secure cryptocurrency exchange.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

View all comparisons against Exmo

View all comparisons against Switchere

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Exmo and Switchere