MEXC Global Exchange // Condensed Review – Pros and Cons

MEXC Global Exchange // Condensed Review – Pros and Cons

Founded in 2018, MEXC Global (formerly MXC) is a digital asset platform that caters to more than 7 million users in more than 200 countries around the world. With over $2 billion in average daily trading volume and systems that can process 1.4 million transactions per second, MEXC is a top 10 cryptocurrency trading platform in the world.

In this MEXC Global review, we will check out what this exchange has to offer, including the MX Token, trading fees, deposit and withdrawal methods, and so much more!

Register a free account at MEXC

Restricted Countries/Regions

MEXC serves users in many countries, but the following countries/regions fall into the restricted areas of service:

North Korea, Cuba, Sudan, Syria, Iran, Yemen, Zimbabwe, Belarus, Myanmar, Lebanon, Libya, Bolivia, Ecuador, Bangladesh, Somalia, Iraq, Crimea, Congo, Central African Republic, Kyrgyzstan, United States, U.S. Virgin Islands

Is MEXC Global a safe cryptocurrency exchange?

To this day, there has never been any security issue or hacking related to MEXC. This is due to the fact that MEXC offers security features that you should expect from a trusted exchange.

On the user side, some of these features include 2FA (Two-Factor Authentication) and e-mail/phone verification codes.

On the technical side, MEXC employs strict protocols to make sure that all users’ funds are kept safe. They do this by using world-class security systems and by keeping the majority of all crypto assets in β€œcold storage” (offline).

Is MEXC Global a safe cryptocurrency exchange?

Available Cryptocurrencies at MEXC

MEXC Exchange currently supports over 700 different cryptocurrencies on its trading platform. This is quite impressive and that is why this exchange is a top 10 cryptocurrency platform in the market.

MEXC Services

The MEXC platform has a multitude of digital asset services. Let’s go through some major items that are on offer.

MEXC Exchange

At MEXC, you will find everything ranging from the most popular cryptos to the most hyped cryptos, to new projects that you may not have heard of. Feel free to trade your existing BTC, ETH, or USDT for one of the 700 other cryptos. Or, you can simply purchase BTC, ETC, or USDT and then begin trading for other cryptocurrencies.

MEXC Exchange

MEXC Margin Trading

Apart from spot trading at the regular exchange, margin trading is also offered at MEXC Global. Margin trading allows users to benefit from even tiny price changes. Over 80 coins with varying degrees of leverage (from 2x to 10x) are available.

MEXC Margin Trading

MEXC Leveraged ETF

ETFs (exchange-traded funds) are an investment tool that allows traders to buy into an asset without actually owning it. You do this by closely mimicking the price and general performance of the attached asset or group of assets.

MEXC’s leveraged ETF trading can track the daily change of underlying assets at any given time.

One positive is that you do not require margins or liquidation. In addition, you can earn compound interest and convert the profit as principal.

MEXC Futures Trading

With MEXC’s futures trading, you can speculate on whether the contract’s price will either go up or down. Since you do not own the coin itself, you cannot enjoy the benefits such as voting and staking. However, on the plus side, the spread is little, and you can also enjoy up to 125x leverage on either USDT futures or Coin futures!

MEXC Futures Trading

MEXC Cryptocurrency Staking

Everyone loves the idea of passive income, and with MEXC, you can take advantage of staking! There are flexible and locked staking options, and you will find popular cryptocurrencies such as BTC, ETH, and DOT.

On some new coins, you can earn as much as 68% APY (annual percentage yield), which is incredibly high! On most coins, your APY will be under 10%, which is still a good rate if you are holding a considerable amount of crypto.

MEXC Wallet

The MEXC Global Wallet is ideal for storing your favorite cryptocurrencies, with access available on both desktop and mobile. Feel at ease when using this wallet for every transaction or whenever the funds are moved between the wallet and cold storage. Whether you are using this wallet for buying/selling crypto or for staking, MEXC Global is a good choice.

MEXC Wallet

MEXC Mobile App – iOS and Android

When you are on-the-go, take advantage of MEXC’s mobile app that has a very user-friendly interface that supports both light mode and dark mode. Simply download for your Android or iOS device and never miss a second of profitable crypto trading.

MEXC Mobile App – iOS and Android

MX Token

MEXC’s native token, the MX Token, was first introduced in 2018 with a total supply of 1 billion. Holding this token will allow users to enjoy discounts on trading fees. Since 2020, more than 200,000 MX holders have received $70 million worth of the total supply. Early investors saw their returns exceed by more than 400 times.

MEXC KYC Verification Requirements

KYC (know-your-customer) is not required in order to create a MEXC account, but your trading and withdrawal options will be limited. Nevertheless, you will have a perfectly functioning wallet and simple trading features. For the best experience, it is recommended to complete the KYC procedures to get the best out of MEXC.

Register a free account at MEXC

MEXC Trading Fees and Limits

MEXC has a fixed trading fee for all traders, unlike other platforms with complicated fee structures. At MEXC, the following are the maker and take fees:

Maker: 0.2%
Taker: 0.2%

This fee is definitely not the lowest among crypto trading platforms, but it is still quite reasonable. You should definitely not overlook the other advantages of MEXC just because the fees are not the lowest in the industry.

MEXC Payment Methods and Fees

MEXC is a major platform, and therefore they offer convenient payment methods for all users globally. Let’s check out the deposit and withdrawal options available at MEXC.

Depositing at MEXC and Fees

If you do not already possess cryptocurrency, then the best way to purchase cryptocurrency at MEXC is via the following payment options:

Visa, Mastercard, Apple Pay, Google Pay, debit cards, bank transfer

MEXC does not charge a fee when users use fiat currency to purchase cryptocurrency. Instead, usually a 1% to 3% fee is charged by the payment provider.

If you already possess crypto from another exchange, then simply send them to your MEXC wallet at no cost.

Withdrawing from MEXC and Fees

Fiat withdrawals are processed through third-party merchants or through P2P trading at MEXC. The fee will vary depending on your country/region, and also depending on the third-party payment providers available. Usually, withdrawal fees can be anywhere between 2% to 5%.

For withdrawals via cryptocurrency, MEXC charges a different fee for different coins/tokens. Please check the fee table available at MEXC. A few examples would be:

Bitcoin
Minimum Withdrawal: 0.001 BTC
Withdrawal Fee: 0.0005 BTC

Ethereum
Minimum Withdrawal: 0.01 ETH
Withdrawal Fee: 0.00600117 ETH

Tether
Minimum Withdrawal: 30 USDT
Withdrawal Fee: 20 USDT

Solana
Minimum Withdrawal: 0.04 SOL
Withdrawal Fee: 0.02 SOL

Etc.

MEXC Customer Service

A crypto platform will not be sustainable if they do not have satisfied customers. That is why at MEXC, you can choose among convenient contact methods. Simply use the MEXC live chat option or open a ticket to get a reply via email. Be sure to also check out the Help Center to find answers to the most common questions.

MEXC Customer Service

Conclusion – Should I use MEXC Global?

MEXC Global rose through the ranks of the crypto market despite being founded as recently as 2018. Let’s remind ourselves of the benefits of using MEXC:

  • 1) Explore among the 700+ cryptocurrencies available!
  • 2) Trade futures contracts with up to 125x leverage!
  • 3) Take advantage of the MX Token to get massively reduced trading fees!
  • 4) Get peace of mind with a simple trading fee of 0.2%!

Overall, MEXC Global is a great choice for any trader who is looking for professional trading and wide investing options. Be sure to create a free account to start testing out this growing platform!

Register a free account at MEXC

$50,000 Prize Pool

Join millions of investors and traders in the crypto revolution!

All it takes is 1 small step!