No, you shall not participate or send ETH from any exchange wallets, as you might not be able to receive ELI tokens to those addresses and those tokens might be lost. When you will be whitelisting your address you will see that this is underlined. ELI is ETH based ERC-20 standard token and users shall use compatible private ETH wallets, such as for example myetherwallet (MEW) is.

Whole process on how to contribute is explained here: https://medium.com/eligma-blog/how-to-contribute-in-the-eligma-presale-and-crowdsale-6740ad01f995