By reading this review article on MEXC exchange, readers will gain an in-depth understanding of the platform’s features and offerings. From trading options and fees to security and customer support, this article provides a comprehensive overview of the MEXC exchange experience. Whether you are a new or experienced trader, this article will help you make informed decisions about using MEXC for your cryptocurrency trading needs.
What is MEXC Crypto Exchange?
MEXC is a cryptocurrency exchange that was founded in April 2018 in Seychelles, East Africa. The exchange has quickly established itself as one of the top 100 cryptocurrency exchanges in the world. The team behind MEXC includes some of the pioneers of the blockchain industry, who have brought their expertise and experience to the platform.
Check our most popular crypto exchanges list.
MEXC is known for its high-performance and mega transaction matching technology, which allows for fast and efficient trading. The exchange has served over 10 million users and has a presence across major continents and jurisdictions around the globe. It is also regulated, with compliance licenses in 5 well-recognized nations: Switzerland, Canada, Australia, and the United States.
MEXC serves over 170 countries and has listed more than 1,520 coins (2,110+ pairs) on its platform, with billions of dollars worth of trading volume. This wide range of coins and trading pairs, coupled with its global presence and regulatory compliance, makes MEXC an attractive option for both experienced traders and those new to the cryptocurrency market.
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How Does MEXC Exchange Work?
MEXC is a cryptocurrency exchange that uses cold storage wallets to manage more than $500 million worth of cryptocurrency deposits. This ensures that the assets are kept safe and secure at all times. The cold storage wallet is designed to be highly secure and is regularly monitored to ensure the safety of the assets.
The exchange uses high-performance mega-transaction matching technology, which allows for fast and efficient trading. This technology is designed to handle large volumes of trades and can match orders in milliseconds, making it one of the fastest and most reliable platforms in the market.
MEXC also implements two-factor authentication for better security. This is an added layer of protection that requires users to enter a code sent to their mobile device or email in addition to their password. This ensures that only the authorized user is able to access the account and trade on the platform.
Overall, with its sophisticated cold storage wallet, high-performance mega-transaction matching technology, and two-factor authentication, it ensures that the assets are kept safe and secure while allowing for fast and efficient trading.
How to Register on MEXC Crypto Exchange?
Signing up on the MEXC cryptocurrency exchange is easy and straightforward. Here’s a step-by-step guide to help you get started:
1. Go to the MEXC official website and click on the “Sign Up” button.
2. Provide your email address or phone number, and create a password to get things started.
3. A verification code will be sent to your email or phone number. Use it to verify your account.
4. Once you’re logged in, click on the profile icon in the top right corner of the homepage and select “Identification” from the drop-down menu.
5. On the next page, you can complete either “Primary KYC” or “Advanced KYC” to increase your withdrawal limit and unlock all the features on the exchange.
6. For a smooth experience on the MEXC exchange, it’s recommended to complete at least “Primary KYC” verification. You will be required to provide the following
7. Congratulations! You’ve successfully signed up on the MEXC exchange. You can now deposit funds and start trading without any hassle.
Services Offer by MEXC Global Exchange
MEXC exchange offers a wide range of services for trading digital assets, making it a one-stop solution for many crypto traders. It offers a variety of services such as the ability to directly buy and sell cryptocurrencies, spot trading options, futures trading, and leveraged exchange-traded funds. Let’s take a deeper look at these services and what each of them has to offer.
Buy and Sell Crypto Directly
MEXC exchange offers a user-friendly platform that makes buying and selling digital assets quick and efficient. The platform’s easy-to-use interface and top menu feature allow users to access the buying and selling feature with just a few clicks. Once you’re on the buying and selling page, you’ll be presented with a list of fiat currencies and digital assets to choose from, as well as different payment methods to suit your needs. The exchange allows you to buy or sell crypto in seconds.
You can access the above page by clicking on the “Buy Crypto” tab on the top left screen and choosing the “Quick Buy/Sell” option.
Spot trading is the backbone of any cryptocurrency exchange and MEXC is no exception. It is the primary marketplace where users can buy and sell cryptocurrencies. If you’re new to the crypto space, spot trading simply refers to the act of trading one cryptocurrency for another. MEXC, being a centralized exchange, offers a wide range of options for spot trading with a good level of liquidity. As previously mentioned, the MEXC exchange offers more than 1,520 cryptocurrencies and over 2,000 trading pairs, making it an ideal platform for users looking for a diverse range of trading options. So, whether you’re an experienced trader or just starting out, MEXC’s spot market is unlikely to let you down.
You can access the MEXC Spot Market by clicking on the “Trade” tab on the top left and choosing the “Spot” option. You will be taken to the spot trading market interface where you can choose your desired trading pair. You will be able to see candlestick charts for that specific trading pair and below that, you can place your order.
You also have the option to place either a limit order or a market order. A limit order allows you to trade an asset at a specific price, while a market order allows you to buy the asset immediately at the current market price. This gives you the flexibility to choose the best option for your trading strategy.
MEXC exchange offers a wide range of services for trading digital assets, including spot trading, and margin trading. Margin trading is a way to amplify your trading power by borrowing funds from a third party. This can help you benefit from even small price changes in the market, making it particularly useful in low-volatility markets like Forex. With a leverage of up to 10x, you can increase your potential for profit. However, it is important to note that margin trading is not available for all cryptocurrencies but is offered for most of the top ones. With this additional feature, the MEXC exchange is able to cater to a wide range of traders, from beginner to advanced.
The margin trading feature can also be accessed from the “Trading” tab at the top left and the interface is identical to the spot trading one.
Futures trading is a popular tool among traders and is offered by many reputable cryptocurrency exchanges, including MEXC. It allows you to speculate on the price of a cryptocurrency without actually holding the asset, giving you the opportunity to benefit from price movements in either direction. While you won’t be able to take advantage of specific features of the cryptocurrency, such as staking, you’ll be able to speculate on its price. MEXC offers futures trading with leverage as high as 200x on certain cryptocurrencies with superior spreads, providing you with even more trading opportunities.
You can access future contracts on the MEXC exchange by clicking on the “Derivatives” tab on the top left and choosing the “Futures” option.
You can choose USD-M or COIN-M future contracts depending on which currency you prefer for your future contract settlements.
MEXC exchange offers its users the ability to trade ETFs, which are exchange-traded funds. These are investment tools that allow traders to buy into an asset without actually owning it. ETFs closely track the price and overall performance of a specific asset or group of assets, making it a convenient way to invest in crypto without having to go through complex regulatory procedures.
Another feature offered on the MEXC exchange is leveraged ETF trading. This type of trading allows users to multiply the yield rate of an underlying asset by a certain factor, usually three. For example, if ETH increases by 5%, a leveraged ETF that offers 3x returns on ETH would increase by 15%. This type of trading is popular among traders as it offers the potential for higher returns while also minimizing liquidation risks. Currently, the MEXC exchange offers 3x long and 3x short ETFs for a few select coins.
The leveraged ETFs offer the following features:
- One-Click to open a leveraged position
- No margin or liquidations
- Risk Control
- Auto-compound profit
ETFs can also be accessed from the “Derivatives” tab on the top left and the interface is pretty similar to MEXC exchange spot and margin trading markets.
PUSH (Peer-to-Peer Trading)
MEXC exchange offers a feature called PUSH, which stands for peer-to-peer (P2P) trading. P2P trading allows users to trade directly with one another, cutting out the middleman and providing a more decentralized trading experience. P2P trading is an important part of the crypto trading ecosystem as it allows for greater flexibility and security in transactions. MEXC understands the importance of P2P trading and has integrated it into its platform to provide users with an additional trading option. PUSH makes it easy for users to trade their crypto assets with other users directly, without any interference from a central authority. This feature also allows for greater privacy and security in transactions.
However, to access this feature you will have to complete the KYC process.
MEXC exchange offers an innovative way to earn passive income through staking. By holding on to specific digital assets, you can earn a return on your investment. This is made possible by the Proof-of-Stake mechanism, which allows users to validate transactions on the blockchain network and earn rewards in the form of interest.
When you visit the staking section on the MEXC platform, you will find a wide range of popular cryptocurrencies available for staking, including Bitcoin, Ethereum and Polkadot. Users can choose between flexible and locked staking options, depending on their investment goals and risk tolerance.
Read: Crypto Staking Platforms
The interest rate on staked assets may vary depending on the market conditions and the specific coin. On most coins, the APY is under 10%, which is a good return if you are holding a significant number of coins. However, some new coins can give you a much higher return on Staking. MEXC exchange understands the importance of staking as a way to earn passive income, and it makes it simple and accessible for its users.
MEXC allows users to choose between flexible and fixed Staking options. If a user selects flexible staking, they have the ability to withdraw their funds at any time.
Other Services and Features Offered by MEXC Global Exchange
Some of the other services offered by MEXC exchange include:
- MEXC Launchpad: Buy or earn tokens from new cryptocurrencies launched on the MEXC launchpad.
- API trading: The exchange also offers API trading that can help users automate their trading strategies.
- Advanced Charting and Indicators: MEXC exchange offers a variety of advanced charting and indicators that traders can use to analyze market trends and make informed trading decisions.
- OTC trading: MEXC exchange also offers Over-the-counter (OTC) trading services to its users, allowing them to trade handsome amounts of cryptocurrencies with low slippage and high liquidity.
- MX Defi: It is a concept similar to staking in that it requires adding coins to a yield mining pool. However, the major difference is that in MX Defi, users have the opportunity to earn different coins as rewards. For instance, staking DOT may result in earning Safemoon.
- 24/7 customer support: MEXC exchange offers 24/7 customer support to provide the best experience to its customers.
- Mobile App: MEXC exchange offers mobile apps for both iOS and Android devices, which make it easy for users to trade on the go.
Is MEXC Global Exchange Regulated?
MEXC Exchange has gained a reputation for being highly compliant with regulations. In addition to obtaining an MSB license in the United States, MEXC has also obtained an MTR license from the financial regulator in Estonia. This license allows MEXC to provide services such as cryptocurrency and fiat-currency conversion and digital-asset wallet services. MEXC’s compliance with regulations not only makes it a safe and reliable platform for users but also allows MEXC to expand its services to a wider range of customers.
Is MEXC Exchange Secure?
MEXC Exchange has made significant efforts to ensure the safety of transactions on its platform by implementing advanced security protocols. The technical team at MEXC has implemented a specialized and high-tech security risk control system as well as an anti-DDOS system, drawing on their extensive knowledge and experience in the digital asset industry.
MEXC also employs security measures such as multi-signature and offline signatures, and layered architecture, to ensure the safe storage of digital assets in cold wallets, providing added protection for its users. Overall, the platform has adopted robust security features to ensure the safety of its users’ assets.
MEXC also places a high priority on the security of its users’ funds. To ensure the protection of users’ assets, MEXC requires new accounts to complete a Know Your Customer (KYC) process and enables two-factor authentication (2FA) using the Google Authenticator app. Additionally, an anti-phishing code is set up and a withdrawal whitelist is established to prevent any unauthorized withdrawal attempts.
Users must also complete mobile number and email verification as an extra security measure. To provide an added layer of protection, MEXC stores the majority of its digital assets in cold storage wallets, which are considered one of the safest methods for securing crypto assets from cyber threats.
MEXC Exchange Fees
MEXC Exchange has a competitive fee structure for its users. One of the key advantages of using MEXC is that there is no fee for depositing funds onto the platform. This means that users can add funds to their accounts without incurring additional costs.
When it comes to trading on the platform, MEXC charges 0% for the maker and 0.2% for taker orders for buying and selling crypto on the spot market. Taker orders can be further reduced with a 20% discount for investors holding the MX token. Users who enable settling their trading fees with MX tokens can reduce their spot trading fee down to 0.16%. This makes the transaction costs very competitive in the market and comparable to the likes of Binance, which is one of the cheapest exchanges.
For futures trading, MEXC charges 0.02% (maker) and 0.06% (taker). This is quite economical and similar to our favorite margin trading platform Bybit. Like the spot market, paying with MX token offers a 10% discount when using leverage. Moreover, the fees can be slashed further depending on the monthly trading volume of the user to 0.014%/0.042% for investors with a volume of $500M and above.
Overall, MEXC’s fee structure is competitive with other exchanges and by holding the MX token, users can further reduce the cost of trading on the platform.
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MEXC Exchange Withdrawals
Unfortunately, one downside to using the MEXC exchange is that it does not currently support direct withdrawals of fiat currency. But don’t worry, you can still easily convert your crypto to fiat using the MEXC’s PUSH feature on the P2P market. There are no additional fees when using this feature.
On the other hand, when it comes to withdrawing your crypto, you have the flexibility to transfer it to any wallet of your choice. Keep in mind that withdrawal fees will vary for each cryptocurrency, so make sure to check the MEXC fee page for specific fees before making a withdrawal.
Supported Cryptocurrencies on MEXC Global Exchange
As highlighted earlier in the article, MEXC offers more than 1500 coins along with 2,110+ trading pairs. Some of the major cryptocurrencies you can find on the MEXC global exchange includes:
- Bitcoin (BTC)
- Ethereum (ETH)
- Polkadot (DOT)
- Cardano (ADA)
- Chainlink (LINK)
- Doge (DOGE)
- Vechain (VET)
- Ripple (XRP)
- Litecoin (LTC)
- Tron (TRX)
MEXC Global Exchange-Supported Payment Methods
MEXC supports multiple payment methods including:
- Bank Transfers
- Bank Cards
- Bank Cards
- Apple Pay
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|
|Leverage up to 125x|
Conclusion: Is MEXC Global a Reliable Crypto Trading Platform?
In conclusion, MEXC is a robust and reliable cryptocurrency exchange that offers a wide range of features to cater to the needs of all types of traders. The platform is user-friendly and easy to navigate, with a wide range of trading pairs and deep liquidity. The trading fees are also highly competitive, especially when paying with the platform’s native MX token. Additionally, the platform’s security measures, such as KYC and 2FA, ensure that users’ funds are safe and secure. Furthermore, the platform’s cold storage wallets for storing crypto assets are a significant step in ensuring safety from cyber-attacks.
The one downside of the platform is that it does not support fiat withdrawals, which may be a barrier for some investors. Overall, MEXC Exchange is a solid choice for those looking to trade cryptocurrencies, with a user-friendly interface and a range of features to suit the needs of different traders. However, it is still recommended that users do their own research and read reviews before investing.
Frequently Asked Questions – FAQs
A: MEXC global is a legit exchange that has served over 10 million users over the course of years.
A: With advanced security protocols, KYC and Two-factor authentication, MEXC is considered among the safest cryptocurrency exchanges.
A: Yes, the MEXC exchange is currently accessible in the United States.
A: The exchange was founded in Seychelles but the serves of the exchange are now also set up in Singapore and Korea.
A: Yes, US citizens can use this exchange.
A: MEXC can be used without completing KYC but you will not be able to access all the features on the exchange.
A: John Chen is the current CEO of the MEXC global exchange.