Hey there, fellow crypto enthusiasts! Today, I want to share with you my personal review of MEXC Global, a well-known cryptocurrency exchange platform that has been gaining popularity in recent times.
In this blog post, I will be taking you through my thoughts on MEXC Global, covering everything from its user interface and security features to its range of trading options and customer support.
So, buckle up, and let’s dive in…
MEXC Global
Summary
MEXC Global provides various trading tools and features, such as margin trading, spot trading, and more.
The platform is easy to use and has a user-friendly interface.
It has a strong focus on security, with measures such as two-factor authentication and SSL encryption in place.
MEXC Global: Summary
| Specification | Description |
|---|---|
| Exchange Name | MEXC Global |
| Year Founded | 2018 |
| Headquarters | Singapore |
| Supported Countries | Over 200 countries |
| Supported Cryptocurrencies | Over 1800 cryptocurrencies |
| Trading Fees | Maker fee: 0%, Taker fee: 0.20% |
| Payment Methods | Bank transfer, credit/debit card, cryptocurrency, P2P |
| Security | 98% cold storage, 2-factor authentication, SSL encryption, DDoS protection, SOC 2 Type 2 certification |
| Trading Tools | Advanced order types, margin trading, API access, stop loss/take profit, futures trading, ETFs, Copy Trading |
| Mobile App | Available for iOS and Android |
| Customer Support | 24/7 live chat support, email support, FAQ section |
| Rewards Program | VIP program with discounts on trading fees, exclusive access to new tokens, and other perks |
| Referral Program | Earn up to 50% of your referrals’ trading fees |
| Regulation | Registered with the Financial Services Agency (FSA) of Japan |
| User Interface | User-friendly and customizable interface |
| Trading Volumes | Over $1 billion in daily trading volume |
MEXC Global Overview
MEXC Global is a cryptocurrency exchange platform that offers a range of trading options for digital assets. It was founded in 2018 and has since grown to become one of the leading Altcoin exchange platforms in the industry.
The platform offers a user-friendly interface, making it easy for both beginner and experienced traders to navigate. It also boasts a range of security features, including two-factor authentication and cold wallet storage, to ensure the safety of its users’ funds.
MEXC Global offers a range of trading options, including spot, margin, and futures trading, with over 1800 Altcoins available for trading. The platform also offers a range of trading tools, such as trading bots and stop-loss orders, to help users manage their trades effectively.
Customer support is available 24/7 through the platform’s live chat feature, and the team is responsive and helpful in addressing any queries or concerns.
Pros and Cons
| Pros | Cons |
|---|---|
| Wide range of cryptocurrencies Altcoins | Low Trading Volume compare to other competitors |
| Margin, derivatives trading available | Limited Payment methods |
| Low trading fees | Not available in the US |
| Advanced security measures | |
| User-friendly interface | |
| support 20+ fiat currencies |
Key Features of MEXC Global
- The exchange platform provides a user-friendly trading app that’s compatible with Android and iOS smartphones.
- It offers a wide selection of 1,800+ cryptocurrencies for spot trading.
- The platform supports various payment methods, including credit/debit cards, wire transfers, P2P, and third-party payments.
- It enables fiat deposits in USD, EUR, and GBP.
- Users can take advantage of low trading fees by using the MX token.
- The platform offers various types of trading, including spot, margin, futures, and perpetual trading.
MEXC Trading Platform Review
Key trading features of MEXC are spot trading, leverage ETFs, margin trading, USD-M and Coin-M futures, copy trading, demo trading, and staking and earn.
Spot Trading
MEXC provides users with a user-friendly interface for spot trading. It offers a wide range of cryptocurrencies to trade, including Bitcoin, Ethereum, and Litecoin, among others. Users can also trade using multiple fiat currencies such as USD, EUR, and CNY. With spot trading, users can buy and sell cryptocurrencies at the current market price without any leverage.
Leverage ETFs
MEXC’s Leverage ETFs allow traders to take advantage of market volatility by using leverage to magnify their trading profits. Users can choose from a range of ETFs that offer different leverage ratios, including 3x, 5x, and 10x.
The ETFs track the performance of the underlying cryptocurrency and provide traders with exposure to the cryptocurrency market with minimal investment.
Margin Trading
MEXC offers margin trading for users who want to trade cryptocurrencies with leverage. Margin trading enables traders to enter larger positions in the market with a smaller investment.
It offers up to 10x leverage for margin trading, and users can choose from a range of cryptocurrencies to trade. However, margin trading is a high-risk trading strategy and should only be used by experienced traders.
USD-M and Coin-M Futures
MEXC offers USD-M and Coin-M futures trading. The futures contracts are settled in Tether (USDT) and provide traders with exposure to the price movements of the underlying cryptocurrency. The futures contracts have different expiry dates and can be traded with up to 100x leverage.
Copy Trading
MEXC offers copy trading, a feature that allows users to copy the trades of professional traders. Users can browse and select from a list of professional traders who have a proven track record of successful trading. Users can then allocate funds to the professional trader and automatically copy their trades in real time.
Demo Trading
MEXC offers a demo trading feature that allows users to practice trading without risking real money. The demo trading feature simulates real market conditions and allows users to test their trading strategies and learn how to use the trading platform.
Staking and Earn
MEXC provides an investment platform called ‘Earn’ that allows users to earn a profit on their unused digital assets. The Earn service offers a variety of earning options, including interest accounts, mining pools, and cryptocurrency staking, with potential returns ranging from 0.95% to 22% APY.
For those seeking higher yields, MEXC offers locked staking with an annual percentage yield (APY) cap of 22%, exceeding the rates of many other staking platforms. By locking up their assets for a specific period, customers can generate passive income with minimal effort.
Additionally, MEXC offers the MX-DeFi earning service, which enables investors to earn mining rewards from their coins and provides up to 16% APY on decentralized finance (DeFi) staking for a one-day period.
MEXC’s other earning modules, such as Trading Mining and Assessment Zone Voting, offer flexibility in earning rewards.
Learn: Best Crypto Staking Platforms
MEXC Fees Review
MEXC charges for spot trading, margin trading, futures trading, and other services.
Spot Trading Fees
MEXC charges a trading fee of 0% for makers and 0.1% for takers in spot trading. However, MEXC offers a fee reduction program called “Trade-to-Mine.” This program allows users to mine “MX” tokens by trading on the platform. The more a user trades, the more MX tokens they can mine. The MX tokens can then be used to reduce trading fees, with a maximum reduction of 50%.
Margin Trading Fees
MEXC charges a borrowing fee for margin trading, which varies depending on the cryptocurrency being traded. The borrowing fee is charged on a daily basis and is calculated as a percentage of the borrowed amount. The borrowing fee ranges from 0.02% to 0.1% per day, depending on the cryptocurrency being traded.
Futures Fees
MEXC charges a trading fee of 0.05% for both makers and takers in futures trading. However, the trading fee can be reduced by holding MX tokens, with a maximum reduction of 50%. MEXC also charges a funding fee for futures contracts, which is paid by the long position to the short position. The funding fee is calculated based on the difference between the futures price and the spot price and is charged every eight hours.
Deposit and Withdrawal Fees
MEXC charges a withdrawal fee for cryptocurrencies, which varies depending on the cryptocurrency being withdrawn. The withdrawal fee is fixed and is deducted from the total amount being withdrawn. MEXC does not charge any deposit fee for cryptocurrencies.
Read More about MEXC Global Fees
MEXC Global Security Review
The exchange uses several measures to ensure account security, including two-factor authentication (2FA), email and SMS verification, and security questions. It also stores the majority of user funds in cold storage wallets and uses multiple signature technologies to protect its hot wallets.
The exchange has a dedicated risk management team, conducts regular security audits, and has a disaster recovery plan in place in case of a security breach. MEXC Global is committed to complying with all applicable laws and regulations related to cryptocurrency trading, conducts KYC and AML checks on all users, and works closely with regulatory authorities.
MEXC Global Supported Cryptocurrencies
The Exchange supports 1800+ Tokens and coins including high Market cap blockchains and Low Market cap Altcoins. Some popular cryptocurrencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Binance Coin (BNB)
- Dogecoin (DOGE)
- Cardano (ADA)
- Polkadot (DOT)
- Chainlink (LINK)
- Uniswap (UNI)
- Solana (SOL)
- Litecoin (LTC)
These cryptocurrencies can be traded against other supported cryptocurrencies or against fiat currencies such as USDT, USD, and EUR. MEXC Global also regularly adds new digital assets to its platform to meet the demand of its users and stay competitive in the market.
MEXC Customer Support Review
MEXC Global offers customer support through several channels, including a 24/7 live chat service, a support ticket system, and an extensive FAQ section. The exchange’s customer support team is knowledgeable and responsive, providing timely and helpful assistance to users with inquiries or issues. It also offers customer support in several languages, including English, Chinese, and Korean.
MEXC Payment Methods
MEXC offers its users a variety of deposit options, including over 20 fiat currencies like USD, EUR, GBP, and TRY. Deposits can be made through credit/debit cards, bank wire transfers via SWIFT, ACH, P2P, and third-party payment platforms like MoonPay, Simplex, and Banxa. This flexibility allows investors to deposit and withdraw their assets with ease.
While there is no deposit limit for cryptocurrency, fiat deposits are capped at 100,000 USDT. Withdrawals are limited to 200 BTC per day, and withdrawal fees are determined based on the type of asset. Deposits are free of charge.
Alternatives! Comparison between MEXC and other
| Exchange | Coins | Trading Fees | Rating | Promotion | Review |
|---|---|---|---|---|---|
| Binance | 500+ | 0.05% to 0.2% | 4.5/5 ★★★★★ | Up to $100 welcome bonus | Binance Review |
| Bybit | 350+ | 0.05%-0.08 for maker and taker | 4.8/5 ★★★★★ | Upto $5,000 Deposit bonus | Bybit Review |
| KuCoin | 750+ | 0.1% for both maker and taker | 4.7/5 ★★★★☆ | $500 Mystery box | KuCoin Review |
| MEXC Global Exchange | 1800+ | 0% maker and 0.2% taker | 4.2/5 ★★★★☆ | Upto $1000 deposit Bonus | – |
MEXC Mobile App
The MEXC Mobile App is a user-friendly and efficient platform that allows users to easily buy and sell various cryptocurrencies. The app offers advanced trading features, real-time market data, and price alerts to help users make informed investment decisions.
Additionally, the app provides secure storage for digital assets and offers quick and easy deposits and withdrawals. Overall, the mobile App is a great choice for both novice and experienced cryptocurrency traders.
How to Get Started [Open Account] With MEXC Global Exchange?
- Visit the MEXC Global Exchange website and click on the “Register” button.
- Fill in your email address, and password, and agree to the terms of use.
- Verify your email address by clicking on the link sent to your inbox.
- Log in to your account and complete the KYC (Know Your Customer) verification process by submitting your personal information and identification documents.
- Once your account is verified, you can deposit funds into your account using various payment methods such as bank wire transfers, credit/debit cards, and cryptocurrency deposits.
- Navigate to the trading platform and choose the cryptocurrency you wish to trade.
- Place your order by selecting the amount and price you want to buy or sell.
- Monitor your trades and manage your portfolio using the various tools and features available on the platform.
- Withdraw your funds whenever you want using the withdrawal options available on the platform.
Is MEXC Global Solvent?
MEXC Global is 100% Solvent with a total value of $974,233,602.89 in USDT. Out of the total value, 36.65% is in USDT, 14.17% is in MX, 5.69% is in BTC, 3.59% is in UNM, and 3.21% is in ETH. The remaining 36.69% of the total value is in other assets.
Final Thoughts: Is it Worth
To summarize, MEXC Global is a trustworthy and easy-to-use digital currency exchange that provides a diverse range of trading tools and services. Its reasonable fees, a broad selection of supported cryptocurrencies, and user-friendly interface have made it a popular option for traders of all levels of experience.
MEXC places a strong emphasis on security, as evidenced by its utilization of cold storage wallets, multi-signature technology, and a risk management team. Moreover, the exchange complies with all relevant legislation and regulations, carrying out KYC and AML checks to deter illicit behavior.
Furthermore, It provides excellent customer service through several communication channels, including live chat, support tickets, and a comprehensive FAQ section. The exchange’s competent and responsive support personnel make it simple for users to receive the help they need.
FAQs
Is MEXC a safe exchange?
MEXC is a reputable cryptocurrency exchange that prioritizes the security of user funds and information. It uses advanced security measures such as multi-factor authentication, cold storage, and regular security audits to protect its users’ assets. MEXC is also licensed and regulated in multiple jurisdictions, including Japan, Australia, and Canada, which adds to its credibility.
Does MEXC require KYC to withdraw?
Yes, MEXC requires users to complete the KYC (Know Your Customer) verification process before they can withdraw their funds. This is in compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The KYC process usually involves providing personal information, a government-issued ID, and proof of address.
Which countries are restricted by MEXC?
MEXC has certain restrictions on users from some countries due to regulatory reasons. As of 2023, users from the following countries are restricted from using MEXC: Afghanistan, Cuba, Iran, North Korea, Syria, the United States (including all US territories like Puerto Rico, American Samoa, Guam, and others), and some other countries listed on their website.
