MEXC Exchange Review 2023
- What Is MEXC Exchange?
- How Does MEXC Exchange Work?
- Is MEXC Exchange Regulated?
- Pros and Cons
- Registration Process
- How to Buy & Sell Cryptos on MEXC Exchange?
- Accepted Payment Methods
- Supported Currencies & Countries
- How Is MEXC Exchange Different from Others?
- Customer Support
MEXC is the leading and latest cryptocurrency platform exchange. MEXC is reputed to be the primary centralized platform, which endorses innovative and optimistic projects before the remainder of the industry. The bottom line of this MEXC Exchange review is to familiarize you with the nitty-gritty of the platform before registering into the platform.
MEXC Exchange Summary
|Supported Fiat Currencies||Yes|
|Supported Countries||Worldwide with few exceptions|
|Transaction Fees||Maker: 0% |
|Withdrawal Fees||Depends on Network Status|
|Customer Support||24/7 via Email, FAQ, & Live Chat Support|
What Is MEXC Exchange?
Launched in 2018 in Seychelles, East Africa, MEXC is technically a consolidated cryptocurrency exchange, and it is attaining prominence rapidly among cryptocurrency users all over the world these days. MEXC Exchange team is best-in-class in every way, and its team members belong to various world-beating organizations with different professional backgrounds, especially in finance. All the team members possess sound experience in blockchain and fiscal industries.
MEXC is having abidance licenses in 5 well-recognized nations viz. Switzerland, Canada, Australia, and the US. The exchange has featured approximately 371 coins (752 pairs) with a regular business volume of around USD 4 Billion. This review will explore various features and services provided by this leading asset platform.
How Does MEXC Exchange Work?
MEXC has a sophisticated cold storage wallet to fortify the security of funds hived away on the exchange. The platform is designed to manage $500 million worth of cryptocurrency deposits. Currently, there have not been any known security breaches. The platform claims to use a high-performance mega-transaction matching technology.
MEXC has the usual security features similar to other crypto exchanges. For example, when signing in you are required to type in a confirmation code which is sent to your email address. The Exchange also encourages you to use 2-factor authentication, whether by mobile phone or Google Authenticator.
MEXC Exchange Features
Here are the salient features of MEXC Exchange:-
- A well-established and experienced founding team of high-ranking practitioners in the blockchain industry and experts from Wall Street, Japan, and Europe.
- Pays back to the blockchain community: 60% of the merchandising fees will be dealt out to MX holders in the form of a bonus, while the rest of 40% will be used to purchase back and burn their local MX tokens every month.
- User-oriented: MX token holders can vote on the functionality of the blockchain community and the MEXC team members.
Is MEXC Exchange Regulated?
MEXC Exchange has attained maximum prominence concerning regulatory compliance. Besides the US-based MSB license, MEXC had straightforwardly received the MTR license from the financial regulator of Estonia, facilitating it to offer cryptocurrency & fiat-currency conversion services and digital-asset wallet services.
MEXC Exchange Pros and Cons
|Second-to-none trading experience and platform.||Trading without margin.|
|Compatible with a broad array of cryptocurrencies.||Incompatible with fiat currencies.|
|Affordable trading fees.||Occurrences of user complaints.|
|Availability of a mobile app.|
|Cutting-edge security features.|
|Multiple payment methods.|
Registration Process of MEXC Exchange
Registering with MEXC Exchange is a simple process. All you need to do is take the following steps:-
Step 1: First, users need to download the MEXC Pro app, open it, and hit “Register.”
Step 2: Two options will appear: Register by hitting “Email” or “Phone.”
Step 3: Then, users are required to fill in their mobile number, email, and login code and hit “Enter.”
Step 4: Users must click “Get code” to receive an SMS code.
Step 5: They need to enter the referral code if other users have invited them. If not, they may leave the space blank.
Step 6: Lastly, users should hit “Sign Up,” and they are now successfully registered to the MEXC Exchange.
How to Buy and Sell Cryptocurrencies on MEXC Exchange?
Refer to the below steps:-
Step 1: Sign in to the website www.mexc.com and key the crypto (you wish to trade) into the search bar.
Take, for example, BTC/USDT as a trading pair.
Step 2: Based on their preferences, users can either key in a specific price (they wish to buy/sell) in the box or simply choose the price mentioned on the left order list. After that, they can key in quantity they wish to buy/ sell. Finally, click Buy/Sell.
MEXC Exchange Fees
When it comes to the MEXC Exchange reviews, the fee rate is straightforwardly 0.2% on every transaction you make. Deposits are all the way free, whereas withdrawal fees are subject to the transaction costs of the blockchain network being used. Credit Trading (instant purchases made via a bank card) depends on the payment processor’s fees – in general, these purchases can reach 5% of the total trade value.
Users can also utilize the perpetual futures trading platform associated with a tiered fee schedule on the website of MEXC. The discount offered for such futures trading volume ranges from 5% to 30% for the contract account balance or monthly trading. Click here to know more details about its fee structure.
MEXC Accepted Payment Methods
The platform supports a variety of payment methods, for example:-
- Bank transfer
- Skrill, etc.
MEXC Exchange also accepts a variety of instant payment methods such as:-
- Bank cards
- Apple pay
MEXC Supported Currencies and Countries
As per MEXC exchange reviews, the platform is currently compatible solely with fiat currency via the P2P and Credit Trading (instant purchase) features. In general, the P2P function is compatible with a broad array of fiat currencies, viz. USD, CNY, EUR, GBP, etc.
Taking cryptocurrencies into account, MEXC is attuned to many cryptocurrencies:-
- MX Token (MX)
- Bitcoin (BTC)
- Ethereum (ETH)
- Eos (EOS)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ontology (ONT)
- Tron (TRX)
- Ripple (XRP)
- Bitcoin SV (BSV)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Cardano (ADA)
- Dash (DASH)
- Neo (NEO)
- Chainlink (LINK)
- Quantum (QTUM)
- Polkadot (DOT)
- VeChain (VET)
- Stellar (XLM)
MEXC trading has won spurs as the first centralized asset service provider supporting the most recent coins and tokens. As per this MEXC exchange review, MEXC Exchange is the ticket for those looking to bypass costly synthesized exchanges and gas fees.
Taking into account the countries MEXC supports, it includes people from all over the world, with the exception of:-
- North Korea
- The central African Republic
- The United States
- and the U.S. Virgin Islands.
How Is MEXC Exchange Different from Others?
According to this MEXC exchange review, MEXC Exchange is a unique platform heavily supported by a crew of full-fledged practitioners specializing in the blockchain industry and other specialists.
MEXC Exchange features a convenient and engaging user interface, and it appeals to most users as a result of its remarkable cleanliness and user-friendliness. Another salient fact about the cryptocurrency exchange platform is that they are at the cutting edge of the Decentralized Finance (DeFi) wave and typically support DeFi tokens.
MEXC trading Exchange currently permits trading for 17 from meridian 20 DeFi Tokens. Also, they stand at the top among all the major exchanges to list on the up DeFi projects through their Assessment Zone & Innovation Board.
So far, no security violations of MEXC Exchange have cropped up, and with that said, it easily follows that it is very safe and secure to carry over your tokens to the exchange for trading purposes.
Suppose things turn around better in Asia about cryptocurrency policy. In that case, the odds are very high that MEXC Exchange would be one of the most prominent exchanges in Asia and the world!
Security of MEXC Exchange
Intending to fortify the transaction made, MEXC Exchange has come a long way to offer failsafe and state-of-the-art security protocols to its platform. To be precise, MEXC technical team has installed a dyed-in-the-wool and high-tech security risk control system and an anti-DDOS system as a result of their copious know-how and experience in the digital asset business.
Based on security designs, for example, multi & offline signatures, and layered architecture, MEXC hives up its digital properties in a cold wallet, accompanying every investor in the most decisive facets. This MEXC exchange review believes that the platform has adopted adequate security features.
MEXC Customer Support
MEXC offers 24/7 responsive customer service and starts with a regular FAQ Section, which does not seem relatively well organized compared to its competitors dealing in major exchanges.
It may be hard for you when it comes to looking for anything (you have in mind) while using the search function on this page. Other customer support options include regular chat and email support when it involves person-to-person contact. This MEXC exchange review suggests traders chat with the team to get a better insight into its operations. It also has social media accounts which may be useful to share some queries.
MEXC Review: Conclusion
MEXC Exchange is just the ticket for merchandising trendy coins and tokens. It has won spurs in the industry as the first centralized exchange giving support to the assets. The platform is just the ticket for all kinds of traders for the all-encompassing features it has.
One of the concerning things about the website is the substandard English translation tool which causes English-speaking users to navigate the website with difficulty. The customer support is largely based on email and, by long odds, it is a responsive, prompt, and handy service to be availed. Many reviews have declared the platform safe. However, this MEXC exchange review suggests traders go through more reviews about the platform before indulging themselves in any kind of investment.
Is MEXC Exchange Safe?
MEXC utilizes a sophisticated and state-of-the-art cold storage wallet to fortify the safety of funds stockpiled on the platform. MEXC Exchange is reputed to deal with $500 million in a time period of 24 hours in terms of cryptocurrency deposits. So far, no report of security transgression has come into view. This MEXC exchange review finds the platform safe.
Can US Citizens Use MEXC Exchange?
Yes, US citizens can use the services. In other words, US investors can sign up to the MEXC Exchange website and make the most of the trade.
How Do I Withdraw From the MEXC Exchange?
Refer to these steps. Step 1, Sign in to your account and hit the button My Asset. Step 2, Hit the button Withdrawal and make sure that your assets are transferred from your Fiat Account to the C2C account. Step 3, Choose the currency you wish to withdraw. Here USDT is one of the best examples. Step 4, Hit the button Historical Record to determine withdrawal state. Step 5, You can also ascertain whether your withdrawal comes into view by visiting the 3rd-party platform or wallet.
There are MEXC withdrawal limits, which means you can withdraw up to 5 BTC a day without carrying out the KYC operation. After the process, MEXC withdrawal limits are scaled a bit higher.
Is MEXC Legal in the USA?
The exchange is available in five countries, and the US is one of them. MEXC Exchange was provided with the MSB license of the US. Thus, it naturally follows that MEXC is legally permitted to execute trading and other business in the United States.
Is MEXC Exchange Legit?
No report of violation of MEXC has been reported. The platform is similar to any other exchange platform.