The following article about the MEXC Exchange review will help you gain an in-depth understanding of the platform’s features and services. Covering everything from trading choices and fees to security measures and customer support.
- MEXC Exchange: Overview
- Is MEXC Exchange safe and Legitimate?
- How to Register on the MEXC Crypto Exchange?
- Key Features of MEXC Exchange
- Is KYC Required for MEXC?
- MEXC Exchange Staking
- Cryptocurrencies Supported on MEXC Exchange
- Payment Methods Supported on MEXC Exchange
- Fee Structure of MEXC Exchange
- Services Offered by MEXC Exchange
- Other Services and Features of MEXC Exchange
- Pros and Cons of MEXC Exchange
- Final Words
MEXC Exchange: Overview
MEXC, a professional cryptocurrency exchange founded in 2018, has become popular with crypto traders due to its zero trading fee. Right now, MEXC serves more than 10 million users in 170 countries.
MEXC focuses on providing a high-performance trading platform with a wide choice of 1,520 coins. It doesn’t require you to verify your identity (KYC).
MEXC is accessible in nearly every country, even in strict jurisdictions like the US, Australia, and Canada. They also support various languages for traders from different countries. MEXC’s trading engine, designed by banking experts, can handle 1.4 million transactions per second, making it super efficient.
The exchange offers many markets and tools, giving customers the freedom to trade cryptocurrencies their way. With a fantastic customer support team it’s evident that MEXC prioritizes customer satisfaction, privacy, and staying anonymous.
Is MEXC Exchange safe and Legitimate?
MEXC Global is a legitimate cryptocurrency exchange that operates within the legal framework. It holds licenses that allow it to operate in Australia, Canada, and Switzerland.
To protect users’ funds, they’ve taken steps like 2-factor authentication, keeping digital assets in cold storage, and enforcing KYC policy.
Notably, MEXC Global complies with both GDPR and Fincen regulations, which not many exchanges do. Their platform is accessible in multiple countries. They’ve acquired important licenses while adhering to regulations in places like Australia, Estonia, and the United States.
How to Register on the MEXC Crypto Exchange?
1. Go to the MEXC Crypto Exchange website, find the “Sign Up” or “Register” button on the homepage, and click it.
2. Provide your email address or phone number, and then create a password to begin.
3. Verify Your account: Check your email for a verification code sent by MEXC. Confirm your email by entering the code.
4. Complete KYC Verification: MEXC exchange requires you to complete Know Your Customer (KYC) verification, which involves providing identification documents. You can complete either “Primary KYC” or “Advanced KYC.”
5. Set Up Two-Factor Authentication (2FA): For security, it’s highly recommended to enable 2FA on your MEXC account. You can usually set this up in your account settings.
6. Deposit Funds: Once registered and your account is secure. You can deposit funds and begin trading on the MEXC Crypto Exchange.
Key Features of MEXC Exchange
- Website: www.mexc.com
- Native Token: MX
- Headquarters: Located in Mahé, Seychelles
- Supported Cryptocurrencies: MEXC, BTC, ETH, EOS, BCH, LTC, and over 1,520 more
- Accepted Fiat Currencies: USD, TWD, AED, PHP, AUD, JPY, CAD, EUR, and others
- Deposit Methods: Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, and various cryptocurrencies
- Deposit Fees: Fees may vary
- Trading Fees:
– Spot Trading: 0%
– Futures Trading: 0.0% (Maker) / 0.01% (Taker)
- Mobile App: Available on Android, iOS, and Windows platforms.
Is KYC Required for MEXC?
MEXC allows users to deposit and trade cryptocurrencies without KYC verification.
To buy fiat cryptocurrencies or increase your withdrawal limit up to 80 BTC. You must complete Primary KYC, which involves sharing personal information.
For higher daily withdrawal limits, up to 200 BTC, advanced KYC, including facial recognition, is necessary.
MEXC Exchange Staking
MEXC Exchange offers an easy way to make money by holding onto certain digital assets. You can do this by using the Proof-of-Stake system. Which helps you validate transactions on the blockchain and get rewards in the form of interest.
When you check out the staking section on MEXC. You’ll see a list of popular cryptocurrencies like Bitcoin, Ethereum, and Polkadot that you can stake. You have the choice between flexible and locked staking, depending on your objectives and risk tolerance.
The interest rate for staked assets can change depending on the market and the specific coin. Most coins offer an APY of less than 10%, which is decent if you have a lot of coins. However, some new coins can give you a much higher return when you stake them.
You can initiate staking on the MEXC Exchange. Click here.
Cryptocurrencies Supported on MEXC Exchange
As mentioned before, MEXC has over 1,500 coins and 2,110+ trading pairs. You can find some of the major cryptocurrencies on the MEXC global exchange, including:
Payment Methods Supported on MEXC Exchange
MEXC offers support for various payment methods, including:
- Credit/Debit Cards
- OTC Service
- Bank wire transfers like SWIFT
- Wire and PIX
- P2P market
- Apple Pay
- Google Pay
- Samsung Pay
- Third-party payment services such as MoonPay, Simplex, and Banxa
Fee Structure of MEXC Exchange
MEXC Exchange offers its users a competitive fee structure.
- Funds Deposit Fees
Depositing funds onto the platform is fee-free, allowing users to add funds to their accounts without any extra costs. Additionally, there are no restrictions on cryptocurrency deposits, However, there is a cap of 100,000 USD for fiat deposits.
- Trading Fees
In spot trading, there are no fees for makers or takers. While in futures trading, makers have 0.0% fees, and takers incur a 0.01% fee. Additionally, users holding the platform’s native MX token can benefit from a 10% discount on futures trading fees.
- Fiat withdrawal Fees
MEXC Global does not facilitate direct fiat withdrawals. Nevertheless, users can convert their cryptocurrencies to fiat through the platform’s P2P market or by using another exchange.
- Withdrawal Fees
MEXC Exchange applies withdrawal fees that differ based on the cryptocurrency you’re withdrawing. Some coins have no withdrawal fees, while others come with specific charges. Additionally, there are varying minimum withdrawal limits depending on the specific asset.
Services Offered by MEXC Exchange
MEXC Global provides a range of services, including buying and selling cryptocurrencies and various trading options. This crypto exchange gives you access to spot, margin, and futures trading. It also offers P2P trading, copy and demo trading, as well as leveraged ETFs and index ETFs. Now, let’s explore each of these services.
Buying and Selling of Crypto
MEXC Exchange provides a user-friendly platform for quick and efficient buying and selling of digital assets. The platform’s simple interface and top menu make it easy to access these features with just a few clicks.
Whenever you visit the buying and selling page. You’ll see a list of fiat currencies, digital assets, and various payment methods to choose from. This exchange allows you to buy or sell cryptocurrencies in seconds.
Spot trading is a fundamental aspect of any cryptocurrency exchange. MEXC serves as the primary marketplace for users to purchase and sell cryptocurrencies. If you’re new to the world of cryptocurrency, spot trading essentially involves trading one cryptocurrency for another.
MEXC Global provides margin trading, which allows traders to take larger positions in the market with a smaller initial investment. Users can use leverage ranging from 5x to 10x. However, margin trading is not available for all cryptocurrencies but is offered for most of the top ones.
At MEXC Exchange, you can engage in futures trading for various cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Users have the option to trade with leverage of up to 200x and select between perpetual and fixed-term contracts.
MEXC Exchange enables its users to trade ETFs, which stand for exchange-traded funds. These are investment tools that let traders invest in an asset without needing to own it directly.
This trading type allows users to amplify the return rate of an underlying asset, often by a factor of three. For example, if Ethereum increases by 5%, a leveraged ETF with a 3x ETH return would rise by 15%.
At present, MEXC Exchange offers 3x long and 3x short ETFs for specific cryptocurrencies.
Investors can diversify their portfolios by using Index ETFs, which means they can invest in various assets. Like the Grayscale Index, Major Crypto Index, and DSA Index, among others.
Copy and Demo Trading
MEXC offers a fantastic feature known as Copy Trading. With this feature, users can easily copy the trades of the people they follow. Ideal for both beginners who seeking assistance and experienced traders with limited time for market research and analysis.
Demo trading, which lets users practice without using actual money.
MEXC Exchange provides a peer-to-peer (P2P) trading option, enabling users to trade directly with each other.
Other Services and Features of MEXC Exchange
- MEXC Launchpad
- API trading
- Advance Charts and Indicators
- OTC trading
- MX Defi
- 24/7 customer support
- Mobile App
Pros and Cons of MEXC Exchange
|Supports over 1,500 cryptocurrencies||No FIAT withdrawals|
|Low trading fees||Only a few cryptocurrencies supported on Quick Buy|
|Supports multiple payment methods|
|Cutting-edge security features|
|Offers exceptional liquidity for futures trading|
|Leverage up to 200x|
In conclusion, MEXC Exchange is a major player in the cryptocurrency market, quickly gaining popularity. MEXC, with licenses in Canada, Australia, Estonia, and the USA, serves over 10 million users in 200 countries.
After signing up, you can instantly deposit cryptocurrencies using just an email and password, ideal for those who prioritize anonymity. However, if you need higher withdrawal limits, you’ll need to complete KYC verification.
MEXC offers a wide variety of trading options, including spot trading, leveraged ETFs, margin trading, and quantitative trading. They also provide futures products like perpetual futures using USDT and cryptocurrencies as collateral. The exchange supports over 1,500 cryptocurrencies and offers numerous trading pairs.
Moreover, MEXC has low fees for both spot and futures trading, with discounts available for trading with the MX token.
Although fiat deposits and withdrawals are not currently supported, you can purchase cryptocurrencies with your fiat currency through third-party providers.
In short, the MEXC Exchange is great for crypto holders seeking diversity and trading features.
You can use MEXC without doing KYC, but you won’t access all the exchange features.
MEXC offers low fees, making it an attractive choice for traders. In spot trading, takers pay 0.20%. However, makers pay nothing, which is highly competitive. For contract trading, takers pay 0.03%, and makers also pay nothing, making it a very consumer-friendly option.