MEXC Cryptocurrency exchange review

A full review of the famous MEXC Cryptocurrency exchange, some insights, information and guides.

Especially after the recent FTX Bank run many people are looking for a new reliable Crypto exchange, today we cover MEXC Global in more detail.

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INTRODUCTION

MEXC Global, which is also known as MEXC, is a professional global cryptocurrency exchange with more than 1,500 listed cryptocurrencies and a high-performance trading platform for almost all coins. MEXC is thought to be the best place to find newly released DeFi tokens and low-market-cap gems because of its wide range of coins and trading pairs. The MEXC Exchange has successfully built a one-stop trading service for digital assets with low trading fees and no KYC needed.

This article will serve as the best guide you will need for MEXC, which is the largest exchange platform for various cryptocurrencies in the world because of the huge volume of digital assets it hosts.

As is our custom at Crypto User Guide, we only research and write about the most innovative, useful, and high-performing blockchain platforms, and MEXC is without a doubt at the top of the list right now.

Reading on, you will find a comprehensive review and guide around this top-of-the-notch crypto exchange with its upsides, ecosystem, fees, licenses, USPs, details about its past and so much more.

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MEXC Global Cryptocurrency Exchange Overview

MEXC Global, one of the best digital asset trading platforms in the world, was founded in May 2018 in the Seychelles, which is in East Africa. It is headquartered in Singapore and available to users in over 170 countries. The exchange can be used in every country, even the US, Australia, and Canada, which have strict laws about cryptocurrencies. MEXC has compliance licenses in 5 countries, including Switzerland, Canada, Australia, and the United States.

MEXC is a one-stop trading platform with many trading markets and tools that customers can use to trade digital assets, mostly cryptocurrencies. It is a cryptocurrency exchange with many features, such as futures, spot, and margin trading, opportunities to invest in ETFs, cryptocurrency staking, and more. Currently, there are 1545 coins and 2145 trading pairs available on the exchange. MEXC Global’s 24-hour volume is reported to be $1.84 billion.

MEXC is a centralized global exchange that hosts thousands of cryptocurrencies, and many more are being launched on it daily. It has gained a lot of popularity (10 million users) and more users in English, Russian, Korean, Portuguese, Turkish, Vietnamese, Hindi, Malay, India, Africa, and other language areas or countries. This is because it is available everywhere.

With great core members of the development team who have extensive experience in blockchain and financial industries, MEXC prioritizes customer satisfaction. MEXC is known for having a simple interface, no identity verification, and a mobile app with ratings of 4.1/5 and more than 16,000 reviews.

Despite being user-friendly, MEXC is a very secure platform. It has an experienced blockchain security team working with top-notch security companies. It has always kept users’ assets safe and has never been broken into or hacked since it was made.

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Does MEXC Global Exchange allow users from the US?

As reported by CoinSutra users from the USA, the MEXC exchange does not allow registrations from the USA. However, users can use a VPN like NordVPN to access and register at MEXC Global Exchange, but at their own risk.

MEXC Global Platform token: MX Token (MX)

Like Binance’s traditional token, BNB, MEXC Global also launched its own in-house decentralized token, MX Token. With a market cap of $100 million, 3 billion MX Tokens in circulation, and a $140 thousand trading volume, the MX Token (MX), developed on the Ethereum blockchain, signifies the proof of interest and participation of the MEXC community.

The MX Token is an important way for communities, teams, and partners to connect with each other. Token holders have a number of rights and benefits, such as an increase in the value of their MX, an increase in the value of their assets, rebates on platform revenue, oversight, voting, etc. MEXC gives users 51% of MX if they “trade, mine, and get token-based rebates” to make the system more liquid. 

In the same way, it gives MEXC community users rewards through the mining incentive mechanism, which lets them use MX and use the rights of the MEXC community.

Among many others, the MX Token has the following characteristics:

• 100% of the exchange’s profits from spot and ETF trading go toward repurchasing MX Token.
• 20% off the trading commission for spot trading,
• Holders of tokens can vote on adding new coins.
• MX Defi yield farming participation

MEXC is committed to making the MX Token more valuable by lowering fees, coming up with new ideas for SpaceM, offering special deals on M-Day, letting people vote on projects in the Assessment Zone, and so on. As the first cross-chain asset of BSC and HECO, MEXC also launched the “Growth Plan for Everything” by starting a number of operations, such as on-chain lending, mining, and DEX trading, to strengthen the MX token economy and increase the number of ways it can be used.

MEXC Exchange Pros and Cons

Unique Features of MEXC

Quick Crypto Buy and Sell

One of the main features that distinguishes any platform or project in the blockchain and crypto space is the time it takes to complete tasks. Due to the large number of transactions processed per second on a cryptocurrency exchange, completing transactions quickly on these platforms is a pipe dream.

But there is MEXC, a one-stop shop for numerous cryptocurrencies and one of the quickest to complete transactions efficiently. MEXC is a high-performance trade-matching engine that can handle a huge 1.4 million units per second. If you are running short on time and you want to get through tasks quickly and efficiently, MEXC is your surest bet.

With MEXC’s quick buying and selling feature, all the users on the platform can easily make crypto transactions within a matter of seconds. How to access the quick buy and sell feature:

How to Buy Cryptocurrencies

1. On the homepage, Choose the option [Buy Crypto] and select [Quick Buy/Sell] for fast and secure digital assets transactions.
2. Choose the [Buy] tab, select the cryptocurrencies you want to buy and receive and enter the amount you want to buy or receive.
3. Click [Buy] and select a suitable payment method (can be debit cards, credit cards, or even from third parties such as Banxa, Mercuryo, and Moonpay)
4. Once the payment is confirmed, the cryptocurrency you bought will be automatically deposited into your MEXC account.

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How to Sell cryptocurrencies?

1. Choose the [Sell] tab, select the cryptocurrencies you want to sell and receive and enter the amount you want to sell or receive.
2. Click [Sell] and select a payment method for the buyer to make the payment in the selected receiving cryptocurrency.
3. Once your order has been processed, the buyer will make the payment in the selected receiving cryptocurrency via the payment method you selected (examples, Zelle, Skrill, Paypal, Cash App, and many more)

NB: If your desired payment options aren’t on the list provided, you have access to add your preferred payment method through the option beneath the list.

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Long range of cryptocurrencies available

Before using an exchange, the first thing anyone does is check to see if the assets they are dealing with are listed on the exchange. The diversity of assets on platforms determines the type of users who will trade on them. 

MEXC gives its many traders access to trading pairs and cryptocurrencies like BTC, ETH, USDT, USDC, etc. With MEXC, traders don’t have to search around for an exchange with the desired cryptocurrencies, as it offers thousands of cryptocurrencies and trading pairs for its users.

MEXC, which is said to be the most comprehensive cryptocurrency exchange, now has more than 1520 cryptocurrencies and more than 2,110 trading pairs. From overperforming and popular coins to recently launched projects, MEXC contains almost any cryptocurrency or digital asset you can think of. With MEXC, you are provided with numerous options for transactions. It is up to you as users to do thorough research before trading, buying, or selling any cryptocurrency or trading pair on the platform. 

On MEXC’s platform, there is a long list of these assets on 15 pages or even more. You can scroll through the list until you find the asset you want, or you can use the search box above the list. Lastly, don’t make rash decisions while investing or trading assets; do your research before making any decisions.

User-Friendly Interface on both website and Apps

MEXC was the first cryptocurrency service that was easy for anyone to use. It covers major continents and jurisdictions all over the world and is regulated directly or through affiliates by some of the best-known jurisdictions in the world. 

Being the first of its kind, the platform website is designed to become the go-to platform for new traders and experienced investors as they move forward in their financial journey. It was designed with the aim of being faster, more efficient, and easily navigable. 

MEXC, on the other hand, has an easy-to-use website and apps for Android, iOS, and Windows that give it an edge over other cryptocurrency exchanges. These apps are faster, work better, and were made just for the three hosts listed above to make them compatible, easy to use, and smooth to move around. 

As a registered MEXC user, you can use the apps to easily access almost all of the platform’s features without any limits. Additionally, the constant updating and accuracy of the charts, data, and prices are provided to app users by the platform and the apps’ seamless interaction.

Super-fast and accurate charts, data, and prices

In trading and investing, the importance of the previous history, data, charts, and prices cannot be stressed enough. The first action to take before trading or investing is to get hold of data, charts, and previous charts of the desired digital assets. 

Since traders and investors use charts, data, and prices to judge the market, they need tools that are accurate, up-to-date, and useful at the moment. Slow and inaccurate charts and data can cause traders to lose money due to an incorrect evaluation of the market or cause investors to lose money on the wrong digital assets.

The search for fast and accurate trading tools was solved by MEXC, with its trading charts among the fastest available, if not the fastest of all. MEXC trading charts, data, and prices are like a pot of gold because they are accurate, move precisely, load quickly, and are easy to use. 

When you click on a pair from the list of cryptocurrencies on the platform, the system will bring up the history, events, prices, data, and charts in a matter of seconds so you can look through them, evaluate them, and change them for your own use. You can use a different time stamp from the data and chart provided; you can also change the candles, expand the whole chart, and use other evaluation skills.

Premium Localized Language User Feedback Response

MEXC provides support for multiple languages all across the globe. It also makes localized content for its traders. As a platform that puts the user first, MEXC takes user satisfaction to a new level by answering user questions and solving user problems in the user’s native language.

This feature sets a new standard in the crypto industry by letting users understand complicated and technical parables in their own language. And with the different communication modes available for users to choose from, MEXC tends to create a relative relationship with its users. You can go with their live chat option or simply open a ticket to get a reply and assistance.

Users of the platform have said that MEXC offers the best customer service they have ever seen in the real world, let alone in the crypto space. 

Easy Registration with no KYC

With many centralized crypto exchanges being strict with their users for registration and Know-Your-Customer (KYC), MEXC distinguishes itself with its hassle-free platform and easy registration. The interface of the platform and the apps as a whole is easy to use, easy to understand, easy to navigate, and simple. All the options a user might need to process are listed on the top menu of the website for easy access. Even though the MEXC platform is easy to use, it loads faster than its competitors when you do anything on it, like accessing your account, funds, trading, or investing.

Opening an account for the first time with MEXC isn’t a lengthy process like most exchanges; all you need is your email address to verify your account and you are good to go. You do not have to do KYC when you sign up for the MEXC Global Exchange. But if you want to open a trade or take part in referrals or competitions, you’ll need to prove who you are by sending in some official documents to keep your account safe.

Its easy and fast, setup your crypto account on MEXC GLOBAL

Safety, Security, and Stability

MEXC has gone above and beyond to make sure that the platform has the best security protocols because regulators and authorities from all over the world are keeping a close eye on crypto exchanges and how well they follow security and compliance rules.

MEXC is built on a multi-tier and multi-cluster system architecture that works as a specialized, cutting-edge anti-DDOS and security risk control system with a lot of knowledge in the digital asset sector. 

MEXC stores its digital assets in a cold wallet and walks each investor through the most important parts. These designs are based on security features like multi-signature, offline signatures, and layered architecture. MEXC has a high-end cold storage wallet; the cold storage wallets manage about $500 million in cryptocurrency deposits. To this day, there have never been any security issues related to the exchange.

MEXC has the same security features that most good exchanges have, like two-factor authentication (2FA) and email and phone verification codes.

MEXC has updated the security system so that user accounts are safer. Now, all users must link a phone number or Google Authenticator to their account. The team also makes the following suggestions:

• To use different login passwords and withdrawal codes on different exchange platforms and change them regularly.
• To check the website to login into the MEXC official website in case of a phishing website.
• To bind your IP If you use API for trading.

Access to Extra Earnings

On the MEXC Platform, several programs are available to all users to earn extra income. In the crypto space, it’s been assumed that the only ways to make money on exchanges are by trading, investing, and staking. MEXC broke this rule by adding different programs that can help users make extra money without trading, investing, or staking. For example, there’s a special section on the platform named “MEXC Defi,” which is a hub that contains different pools you can connect to and earn from. Users can also earn through airdrops on MEXC (M-Day). Also, users can earn money through auctioning, although this is not always available and only happens at specific times, so keep an eye out for it.

M-Day

Due to the demand from some traders, MEXC has improved its trading features. To promote mainstream asset trading, MEXC upgraded its price difference and depth. After the upgrade, MEXC aimed to give back to its loyal customers by creating an event called M-Day. 

M-Day is an event where anyone with the traditional cryptocurrency MX Token can buy event tokens at a discount and make specific distributions based on the amount of each event.

SpaceM

MEXC launched SpaceM, a new listing channel for upcoming projects. SpaceM is a hub where high-quality projects can pre-list so that users can buy the project’s token even before it launches. Although, by default, the MX Token holder is given preference over users who are looking for new project listings on SpaceM, in the end, SpaceM helps the project build a community even before it starts, giving a boost to very promising blockchain projects.

MEXC Fees

MEXC Deposit Fees

Fortunately for MEXC users, there are no fees associated with any deposits on the platform. When customers deposit cryptocurrency into their accounts with MEXC, there are no fees applied. Although fiat deposits are not supported, users can still buy cryptocurrency with fiat directly. The fee, which will be in the range of 3–5%, will depend on what the third-party merchants decide to charge. If you want to know the precise amount you must pay, you can check the fee amount by choosing a specific fiat payment option.

MEXC Trading Fee

For both makers and takers, MEXC has a fixed spot trading fee of 0.2/0.06%, and the amount decreases the more you trade each month. If you buy cryptocurrencies with MX, MEXC’s native token, you will get a 20% discount on futures trading. 

MEXC Fiat Withdrawal Fees

On MEXC, Fiat withdrawals are not supported. However, you can do so on the P2P (peer-to-peer) market if you have any cryptocurrency that you would like to sell for fiat money. Trading on the platform is free, and the price you get for your cryptocurrency depends on whether you can find a buyer.

MEXC Crypto Withdrawal Fees

MEXC levies various fees for each cryptocurrency when it comes to withdrawals. There are some cryptocurrencies that you can withdraw for free, while there are others that require a fee. On the MEXC fee page, where you can find the withdrawal fees for each coin, there is a chart showing the cryptocurrency withdrawal fees. Depending on the token you want to withdraw, the fees can be quite high. For example, if you want to withdraw USDT (Tether), you have to pay a $20 fee.

MEXC Services

What are the services MEXC offers besides trading cryptocurrencies? You can take a look below to understand how MEXC works and what the services that they offer are. This will also help you understand if the platform is any good for you or whether you should keep looking for another suitable choice according to your preferences.

MEXC Markets

Not only does MEXC have a huge range of cryptocurrencies, but they also offer various markets that advanced crypto traders love. MEXC has spot trading, margin trading, and derivatives trading, which includes ETF indices, ETF margin trading, and futures trading. All of these options are available. Traders can get to the charts, look at the changes, use common methods or their own techniques, and then place their orders in one place, which can be accessed by any MEXC user. The best thing is that there are lots of trading pairs available, so you will find something suitable for your needs.

Spot Trading and Margin Trading

All 1550 coins listed on the exchange may be traded in spot transactions or on margin. You can find well-known DeFi, NFT, and Polkadot coins on this exchange that might not be listed elsewhere, and new coins and projects are regularly added. Many of the well-known tokens were first listed on MEXC before they were on other exchanges.

ETF Trading

The MEXC Index Product at this time includes major cryptocurrency indexes, halving cryptocurrency indexes, public chain indexes, Defi asset indexes, etc.

One can, for instance, invest in the Grayscale Portfolio Index.

An ETF’s primary advantages are:

• Risk dispersion (where risk is spread across a group of assets) and
• Energy Conservation (Investing in an ETF allows a user to indirectly purchase all of the ETF’s underlying assets without having to go through the trouble of doing his own research)

Contract Trading

A derivative that differs from conventional futures is the perpetual contract. Contrary to futures contracts, there is no end date, no settlement date, and no time limit on the duration of a position.

Payments are exchanged between the buyer and seller every 8 hours in this funding mechanism. If the rate is positive, longs will pay and shorts will receive the rate if the rate is positive; if the rate is negative, the opposite will be true.

Perpetual contracts have a funding mechanism that keeps the contract price close to the value of the underlying asset.

Staking

The concept of passive income is appealing to everyone, and with MEXC, you can experience it through staking as well. To find out which assets are suitable for staking and how much you can make from them, check out the staking section. You can choose between flexible and locked staking options, and you can use well-known cryptocurrencies like BTC, ETH, and DOT.

In terms of earnings, the interest rate can change depending on the terms of the agreement and the state of the market. On some new coins, you can earn as much as 68% APY, which is an incredibly high rate. If you hold a sizable amount of coins, your APY on the majority of them will be under 10%, which is still a favorable rate.

Join MEXC now and start staking you can join them: https://www.mexc.com/en-US/register?inviteCode=mexc-1WLvu

Comparison Table Between Binance and MEXC Global

An overview of our findings by comparing Binance versus MEXC Global

MEXC is expected to be one of Binance’s competitors in 2022, even though Binance was started a year earlier in China and later moved its headquarters to the crypto-friendly island of Malta in the EU.

Like MEXC, Binance also does quite a large range of cryptocurrencies, and with the largest volume of users, it is labeled the biggest crypto exchange in 2022.

By a huge margin, MEXC Global is the most user-friendly cryptocurrency exchange in the world. It has a wide range of cryptocurrencies and millions of users all over the world. It also has a suite of great products that are good for almost every crypto trader and investor.

MEXC feedback/Conclusion

The global cryptocurrency exchange MEXC serves most of the world’s most important countries, including the United States. The fact that there are more than 1,522 cryptocurrencies available makes MEXC popular with investors and traders. With its easy-to-use interface (UI), MEXC is also a great place for people who are new to crypto trading to start.

MEXC is a cutting-edge project for a digital asset exchange with a lot of potential to take the top spot among exchanges in the cryptocurrency market. Considering how simple it is to use and how quickly it reacts to user feedback, it is a user favorite. Up until this point, there hasn’t been any hacking incident connected to the MEXC exchange while also constantly adding new features. This exchange has a medium trust rating and appears to be a trustworthy one to trade on.

Although the exchange experience is not the best, they make up for it by providing some of the best crypto projects that are exclusive to them. In fact, you might discover the upcoming gem by keeping an eye on the new coin listing at MEXC.

If you did decide to join the exchange we can help you with a ref-code to sign up and even get a small bonus – you can use the code: “mexc-1WLvu” or just click here

Moritz Pindorek

Moritz Pindorek (Moritzpindorek.com)

Social Media, Marketing & Blockchain

Crypto/Web 3 Advisor, Top 10 Crypto Influencer 2022(Forbes Monaco) & Top 10 Entrepreneur 2022 (Forbes Monaco)

Owner and writer for Cryptouserguide.com