Is This Crypto Trade Secure & Legit?

In accordance with Coingecko, MEXC is among the many high 10 crypto exchanges. It has a day by day buying and selling quantity of over $800 million, making it the only option for brand new merchants. On this MEXC overview, we’ll cowl all the things from its intensive coin choice and low charges to its safety measures and consumer interface. By the top of this overview, you’ll have a transparent view of what MEXC brings to the desk and whether or not it’s a good trade for you.

Key Takeaways:

• MEXC is a crypto trade with options like spot buying and selling, futures buying and selling with as much as 200x leverage, and incomes curiosity on crypto holdings.
• Additionally it is a well-liked no-KYC crypto trade with a 10BTC day by day withdrawal restrict for non-verified customers and permits shopping for and promoting crypto with out ID verification.
• MEXC has very low charges with 0% maker and 0.1% taker charges within the spot market and 0% maker and 0.01% taker charges within the futures market.

MEXC Overview: Fast Abstract

What Is MEXC?

MEXC, previously often known as MXC Trade, is a world crypto buying and selling trade that permits you to purchase, promote, and commerce digital belongings. Based in 2018, it has grown quickly to serve over 10 million customers in additional than 170 international locations and areas worldwide. Inside a 12 months, the trade captured 5% of the worldwide crypto trade buying and selling market. Their success continued in 2021 once they received “Best Crypto Exchange Asia” on the Dubai Crypto Expo. The corporate has not publicly disclosed its founders but, but it surely has established itself as a significant participant within the cryptocurrency market.

MEXC is tremendous quick! Their excessive efficiency buying and selling engine, constructed by banking professionals, can deal with 1.4 million transactions each second. This implies clean buying and selling with no delays, even throughout busy occasions.

The trade affords a variety of companies to its customers. These embody spot buying and selling, futures buying and selling, P2P buying and selling, and replica buying and selling. For these taken with a extra diversified portfolio, MEXC options staking and incomes companies, a launchpad for brand new initiatives, and demo buying and selling newcomers. Builders may leverage MEXC’s API to combine knowledge into their very own purposes.

MEXC is understood for its zero buying and selling charges occasions. These are time-based particular occasions. At present, it’s providing 0% spot maker and 0% futures maker charges. The trade is straightforward to make use of, even for newcomers, because of its clear and easy interface. Safety can also be a high precedence. They preserve most consumer funds in offline storage (chilly storage) and observe strict worldwide safety guidelines to maintain your crypto protected.

Execs of MEXC

• Futures makers can take pleasure in zero charges and takers as little as 0.01%, nicely beneath the {industry} common
• Over 2300+ cash and tokens together with many new altcoins obtainable for buying and selling
• Earn passive revenue on crypto with yields as much as 100% APY
• Get pleasure from as much as 200x leverage on sure perpetual contracts
• IEOs on MEXC Launchpad have seen returns exceeding 500%.
• MEXC affords distinctive liquidity for futures buying and selling, which means sooner order execution and tighter spreads.

Cons of MEXC

• It’s best for crypto-to-crypto buying and selling solely and you’ll’t simply purchase crypto with many native fiat currencies.
• MEXC has restricted companies or options in sure geographical areas together with america
• No Web3 options like DeFi companies and NFT market

Trading Options of MEXC Trade

Spot Trading

MEXC affords a spot buying and selling platform the place you should buy and promote all kinds of cryptocurrencies immediately. They’ve a ton of decisions, with over 2300 totally different digital currencies and much more methods to commerce them (over 2800 buying and selling pairs).

The trade helps various kinds of buying and selling pairs. This contains stablecoin-to-crypto pairs and crypto-to-crypto pairs. For instance, you may commerce BTC/USDT, BTC/USDC, BTC/ETH, and BTC/TUSD.

In relation to shopping for and promoting these cryptocurrencies, MEXC offers you with a wide range of order sorts to fit your buying and selling methods. Listed here are a number of of the commonest ones:

• Restrict Order: This allows you to specify the goal value you wish to purchase or promote a cryptocurrency at. Your order will solely be executed if the market value reaches your chosen value level.
• Market Order: That is the only means to purchase or promote. You merely inform MEXC how a lot of a cryptocurrency you wish to purchase or promote, and the platform executes your order at the most effective obtainable market value at that second.
• Cease-Restrict Order: This combines parts of each restrict and stop-loss orders. You set a “stop price” that triggers the order to turn into a restrict order if the market value reaches that time. That is helpful for managing danger. As an illustration, you might need some Ethereum (ETH) and wish to promote it robotically if the value drops beneath a sure stage. With a stop-limit order, you set your cease value and a restrict value to make sure you don’t promote for too excessive.
• One Cancels the Different (OCO): This can be a extra superior choice for knowledgeable merchants. You set two orders on the similar time, a “stop-loss” order to promote if the value goes down an excessive amount of, and a “take-profit” order to promote if the value goes as much as a sure level. Whichever order will get crammed first, the opposite one will get canceled robotically.

MEXC additionally has a bunch of technical indicators that will help you determine what to purchase and promote. These embody standard instruments like Ok-lines, shifting averages, and MACD. These instruments show you how to see traits in costs.

The trade even integrates with TradingView, a complicated charting platform utilized by many specialists. This allows you to use much more superior instruments to investigate the market in additional element.

Perpetual Futures Trading

MEXC has a platform for buying and selling futures contracts. It’s totally different from shopping for and promoting crypto proper now. In futures buying and selling, you agree to purchase or promote a specific amount of cryptocurrency at a set value on a particular date sooner or later.

The MEXC trade affords greater than 300 futures contracts. These contracts include leverage of as much as 200x, which implies you may management a a lot bigger place than your preliminary funding.

There are two major sorts of futures contracts on MEXC: USDT-Margined Perpetual Futures and Coin-Margined Perpetual Futures.

• USDT-Margined Perpetual Futures are settled in Tether (USDT), which is tied to the US greenback. When the contract ends, you get or pay USDT based mostly on the value.
• Coin-Margined Perpetual Futures are settled within the precise cryptocurrency. So, if in case you have an extended place on a Bitcoin contract, you get BTC while you shut the place.

Keep in mind, as an alternative of conventional futures, MEXC affords perpetual contracts, which don’t have expiration dates.

MEXC goes past the fundamental order sorts obtainable within the spot market and affords superior order sorts to present you extra management over your trades.

• Trailing cease orders: These robotically observe the value of a crypto. If the value goes up, your order will increase too, locking in these features. But when it goes down, the order triggers a promote to restrict your losses.
• Set off orders: With these orders, you inform MEXC precisely what value to observe for, and your purchase or promote order solely prompts when that value is reached.
• Submit-only orders: You place in an order to purchase or promote at a sure value, but it surely solely goes via if there’s another person prepared to commerce at that value. It’s a means so as to add liquidity to the market with out getting caught with a commerce you didn’t fairly need. This implies it reduces the chance of value slippage whereas shopping for.

MEXC permits you to select between two margin modes to your futures trades. Remoted margin mode makes use of solely a specific amount of your pockets stability for every place. This implies features or losses from one place don’t have an effect on your others. Cross-margin mode makes use of your complete portfolio pockets stability for all of your positions. This may be extra environment friendly, but it surely additionally has a much bigger danger of shedding all the things if the market goes in opposition to you.

MEXC Futures M-Day

Futures-M Day is a MEXC occasion that encourages customers to take part in futures buying and selling with diminished charges and an opportunity to win bonus rewards. Right here’s what makes Futures-M Day thrilling:

• Decrease buying and selling charges: MEXC reduces the taker price, which is a price charged for taking liquidity from the order ebook, to a mere 0.01%.
• Fortunate draw probability: By buying and selling extra USDT-M futures contracts, you get extra entries right into a fortunate draw. This draw affords prizes like futures bonuses, which can be utilized as a further margin to your trades. Principally, you get extra money to commerce with and any earnings you make are yours to maintain.
• Further prize pool: As a thanks to customers, MEXC throws in an additional pool of prizes on high of the common fortunate draw. At present, it’s providing a 74,200 USDT prize pool.

Demo Trading

MEXC affords a “Demo Trading” function particularly designed for brand new or inexperienced futures merchants. It permits you to check out totally different buying and selling methods and get accustomed to the MEXC platform with out risking any of your personal cash.

Right here’s the way it works: MEXC offers you with a digital beginning stability of as much as 50,000 USDT (Tether) of their simulated buying and selling surroundings. This allows you to experiment with shopping for and promoting crypto futures contracts similar to you’d in the true market.

The important thing distinction is that these are simulated funds, so any wins or losses you expertise received’t have an effect on your precise pockets.

The Demo Trading platform mimics the feel and appear of the true MEXC futures market. You’ll see stay market knowledge, charts, and order sorts, permitting you to follow inserting purchase and promote orders.

Copy Trading

MEXC can also be a well-liked crypto copy buying and selling platform. This sounds sophisticated, but it surely’s a means so that you can make cash by following the trades of skilled merchants.

There are two sides to MEXC copy buying and selling. You is usually a “follower” who copies different merchants, otherwise you is usually a “lead trader” whose trades are copied by others.

To be a follower, you merely decide a lead dealer you want based mostly on their efficiency and historical past. MEXC permits you to see issues like their 7-day ROI (Return on Funding), 7-day PNL (Revenue and Loss), 7-day Win Charge, Whole ROI, Whole PNL, and Whole Win Charge. This data helps you determine who to observe.

When you decide a dealer to observe, you allocate a few of your digital belongings like USDT to them. Every time the dealer makes a commerce, MEXC robotically copies that commerce for you utilizing your allotted funds. Nevertheless, there’s a fee. You must pay as much as 15% of your earnings to your lead merchants, plus common buying and selling charges.

Fast Purchase/Promote (MEXC Specific)

MEXC Specific affords a quick and handy means for customers to purchase cryptocurrency utilizing acquainted fee strategies like SEPA, credit score and debit playing cards, and third-party fee suppliers like MoonPay, Mercuryo, Simplex, and extra.

Keep in mind, MEXC acts as a market connecting you with these third-party suppliers. They deal with the precise shopping for course of. So, they’ve totally different charges and minimal and most shopping for limits relying in your nation.

P2P Trading

MEXC affords a P2P buying and selling service the place you may immediately purchase and promote cryptocurrency with different customers, utilizing your native foreign money. This implies you’re buying and selling immediately with one other individual, as an alternative of the trade itself. So, there are zero charges.

The trade at the moment permits buying and selling with 3 fiat currencies: Vietnamese Dong (VND), Russian Ruble (RUB), and South Korean Received (KRW). There are greater than 30 totally different fee strategies supported. This offers you flexibility to decide on a fee technique that’s handy for you, like financial institution transfers or e-wallets.

At present, MEXC helps solely 4 cryptocurrencies on its P2P market: USDT, USDC, BTC, and ETH. For added safety, IT makes use of a system known as “Escrow”. Because of this while you place a P2P order, your crypto is held by MEXC till you verify that you just’ve acquired the fee from the opposite consumer. When you verify, the crypto is launched to the customer. This escrow system helps to guard each patrons and sellers from fraud.

MEXC Staking & Earn Companies

MEXC Financial savings and Loans

MEXC offers you with choices for fastened and versatile staking, in addition to crypto loans. You possibly can lend out your cryptocurrency holdings and earn curiosity on them. That is much like placing cash in a financial savings account.

• Versatile staking permits you to earn rewards whereas sustaining the flexibleness to withdraw your funds at any time.
• With fastened staking, you commit your funds for a particular interval in trade for increased rewards, however you may’t entry them till the staking interval ends. It affords 30-day, 60-day, and 120-day fastened staking choices.

You possibly can earn as much as 50% APR on some tokens. At present, it’s providing 1.8% on BTC, 4.8% on ETH, and eight.8% APR on USDT.

There’s additionally a crypto mortgage choice. Right here, you may borrow cryptocurrency from MEXC utilizing your present crypto holdings as collateral. In case you can’t repay the mortgage, MEXC would possibly take your collateral.

MEXC calculates the curiosity day-after-day based mostly on the precise size of your mortgage. Even borrowing for lower than a day counts as a full 1-day for curiosity.

One vital factor to notice is which you could’t repay your mortgage partially. You possibly can solely make a full reimbursement, and you need to wait a minimum of 30 days after borrowing earlier than you are able to do that. This could be a downside in comparison with different exchanges like OKX and Bitget.

Kickstarter and Launchpad

Launchpad is a launching pad for promising crypto startups. MEXC rigorously selects these initiatives after an intensive overview course of. This implies you will be moderately assured that the initiatives on Launchpad aren’t scams and have robust potential for development. Launchpad helps these new initiatives acquire recognition and funding, whilst you get the chance to be among the many first traders.

Kickstarter is a bit totally different. Right here, you have to maintain MX tokens to obtain new undertaking airdrops. The platform additionally affords as much as a 100% APR on MX holdings. You must maintain a minimum of 1,000 MX tokens for a 30-day period.

MEXC Mastercard

MEXC Mastercard is a pay as you go card issued by MEXC. This card permits you to spend your cryptocurrency holdings for on a regular basis purchases similar to an everyday debit card.

There are some issues to bear in mind when utilizing the MEXC Mastercard:

• There’s a small price of 1% each time you add cash (top-up) to your card out of your MEXC account.
• A single buy can’t be greater than 3,000 USDT, and you can not spend greater than 30,000 USDT in a month. The full quantity you may preserve loaded on the cardboard at any given time can also be capped at 100,000 USDT.
• Transaction charges depend upon the place you employ the cardboard. There aren’t any charges when you use it inside the European Financial Space (EEA), which incorporates most European international locations. Nevertheless, when you use it outdoors the EEA, there’s a 2% price, with a minimal cost of 0.60 EUR per transaction.

MEXC Referral & Affiliate Program

MEXC affords a referral program and an associates program to earn rewards by inviting others to the platform. The Referral Program is an effective way to get began. There’s no utility course of concerned, so anybody with a MEXC account can take part. All you have to do is share your distinctive referral hyperlink with your mates.

The precise quantity of fee you obtain depends upon what number of MX Tokens you maintain in your account. In case you don’t maintain any MX Tokens, you’ll nonetheless earn a good 30% fee. Holding between 5,000 and 20,000 MX Tokens will increase your fee from 30% to 70%. The perfect half is that you just’ll proceed to earn commissions in your referrals’ buying and selling exercise for a whopping 1080 days (3 years) from the date they signed up.

The MEXC Affiliate Program is designed for people who’ve a bigger viewers, equivalent to bloggers, social media influencers, or web site house owners. To turn into an affiliate, you’ll have to submit a proper utility via the MEXC Affiliate Portal.

As soon as MEXC evaluations your utility and approves it, you’ll acquire entry to a singular referral hyperlink and a spread of unique advantages. In comparison with the Referral Program, associates can earn considerably increased fee charges, probably beginning to 50%.

MEXC API

MEXC affords a strong API (Utility Programming Interface) for customers who wish to automate their crypto buying and selling methods. This basically permits exterior purposes to work together along with your MEXC account, enabling capabilities like inserting orders, managing holdings, and accessing market knowledge. If you’re trying to make use of buying and selling bots like 3Commas and Cryptohopper, API is required.

MEXC API is well-documented, with a complete information obtainable on their web site. The information particulars every API endpoint (particular perform) together with parameters and response codecs. This makes it simpler for builders to know and combine the API into their apps.

MEXC Charges & Trading Prices

MEXC affords aggressive buying and selling charges for each spot and futures buying and selling, making it a lovely choice for a lot of merchants. Let’s break down the various kinds of charges you’ll encounter on MEXC.

Trading Charges

MEXC has a two-tier price construction for each spot and futures buying and selling, relying on whether or not your order provides liquidity (maker) or removes liquidity (taker) from the market.

• Spot Trading Charges: MEXC affords a few of the lowest spot buying and selling charges within the {industry}. In actual fact, there are at the moment 0% charges for makers and 0.1% for takers on all spot buying and selling pairs. This can be a promotional provide that will change sooner or later. Typically, it has a 0.1% maker/taker price construction.
• Futures Trading Charges: Makers take pleasure in a 0% maker price, whereas takers incur a 0.01% taker price.

For extra reductions on buying and selling charges relying in your buying and selling quantity, you may examine their VIP charges.

Deposit and Withdrawal Charges

MEXC sometimes doesn’t cost any charges for depositing cryptocurrencies. However, there could be extra community charges relying on the particular cryptocurrency you’re depositing. These charges aren’t charged by MEXC however by the know-how behind the cryptocurrency itself (blockchain). The price of these charges can fluctuate relying on how busy the blockchain community is.

Withdrawal charges additionally depend upon the chosen cryptocurrency. MEXC affords a transparent price construction, and you’ll simply discover the precise withdrawal price for every cryptocurrency immediately on the withdrawal web page.

Right here is the overall overview of MEXC withdrawal charges:

What are the minimal deposit and withdrawal limits?

MEXC has limits in place for each fiat transactions and crypto withdrawals.

• Fiat SEPA Promote Restrict: You possibly can promote as much as 1,000 EUR price of cryptocurrency per transaction per day utilizing SEPA, a European fee system.
• Credit score/Debit Card Deposit Limits: You possibly can deposit a most of 1,250 USD, 2,000 EUR, or 1,750 GBP in a single transaction utilizing your credit score or debit card.
• Crypto Limits: MEXC permits you to withdraw various quantities relying in your account verification stage. With a fundamental verification (Main KYC), you may withdraw as much as 80 Bitcoin (BTC). In case your account is totally verified (Superior KYC), the restrict goes as much as 200 BTC. And for institutional accounts, the utmost withdrawal restrict is even increased, at 400 BTC.

How Many Cryptocurrencies Does MEXC Help?

MEXC International helps a staggering variety of cryptocurrencies, boasting over 2300 cash and 2800 buying and selling pairs. This contains all the favored excessive market-cap cash you’d anticipate, like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

The platform additionally caters to these taken with exploring new cash by offering entry to a variety of low-cap cash. However that’s not all. They transcend established classes, providing tokens in varied area of interest sectors together with Synthetic Intelligence (AI), Actual World Belongings (RWAs), Decentralized Finance (DeFi), and the Metaverse.

Listed here are only a few examples of the area of interest tokens you’ll find on MEXC:

• OCEAN
• Chainlink (LINK)
• Aave (AAVE)
• Decentraland (MANA)
• The Sandbox (SAND)
• Filecoin (FIL)
• Cosmos (ATOM)
• Algorand (ALGO)
• XRP
• Polkadot (DOT)

MEXC Safety & Laws

MEXC has applied a wide range of safety measures:

• Two-Issue Authentication (2FA): So as to add an additional layer of safety, MEXC affords 2FA. This requires a second verification code when logging in, along with your password. You possibly can select between e-mail verification and the Google Authenticator app.
• Chilly Storage: It retains most of its customers’ cryptocurrency in offline storage. These wallets aren’t related to the web, making them extremely immune to hacking makes an attempt. Solely a small portion of funds is saved on-line for day-to-day operations.
• Encryption: MEXC makes use of two sorts of encryption: SSL (Safe Sockets Layer) and AES-256 (Superior Encryption Customary). These industry-standard protocols guarantee safe communication between your gadget and MEXC’s servers.
• Phishing Safety: The trade affords an anti-phishing code function. You possibly can set a singular code that might be included in reputable emails from MEXC. This lets you confirm if an e-mail claiming to be from MEXC is actual or a phishing try.
• Withdrawal Whitelisting: It permits you to limit withdrawals to solely pre-approved addresses. With this enabled, any tackle you attempt to withdraw to for the primary time might be blocked till you manually add it to the whitelist, providing you with additional safety in opposition to unauthorized withdrawals.
• Penetration testing: MEXC repeatedly goes via assessments that attempt to discover weaknesses of their system, like how hackers would possibly attempt to assault.
• Bug bounty program: They provide rewards to anybody who can discover and report bugs of their system, which helps them repair vulnerabilities earlier than they are often exploited.

Be aware: MEXC doesn’t maintain a license in any jurisdiction. MEXC’s Estonian monetary license is now not legitimate. Whereas it beforehand operated with this license, it has since been revoked by Estonian authorities over cash laundering prices.

Buyer Help

MEXC’s Assist Middle serves as your first line of protection. Accessible 24/7, the assistance heart affords a wealth of knowledge and step-by-step guides on a variety of matters. From downloading and establishing the trade to understanding totally different buying and selling choices and managing your account safety, the Assist Middle equips you with all of the information.

For fast and easy inquiries, MEXC affords a handy chatbot. This AI-powered assistant can reply your fundamental questions and supply prompt options to frequent points.

If the chatbot doesn’t have the reply you’re searching for, otherwise you want chatting with an actual individual, MEXC additionally affords stay chat assist. Whereas wait occasions could fluctuate, it permits you to join immediately with a consultant who can tackle your considerations and supply personalised help. Plus, you too can submit a assist request and call them via Telegram.

Nevertheless, MEXC has blended buyer evaluations with solely a 1.3/5 ranking on Trustpilot. It additionally has a mean ranking of three.7/5 on each the Google Play Retailer and the App Retailer.

MEXC Cellular App

The MEXC app permits you to purchase, promote, and commerce cryptocurrencies conveniently out of your smartphone. It’s obtainable for each Android and iOS units.

Designed with user-friendliness in thoughts, the app has a transparent and intuitive interface that caters to each newcomers and skilled merchants. It has all of the options of the desktop model like buying and selling, depositing and withdrawing funds, staking, and extra. It’s also possible to arrange value alerts and obtain push notifications.

Options to MEXC

OKX and Binance are the 2 finest alternate options to the MEXC trade. MEXC is understood for buying and selling altcoins without having to do KYC, OKX is nice for DeFi and Web3 stuff, and Binance has excessive quantity and liquidity.

Supported cash differ among the many platforms, with MEXC supporting over 2300 cash, whereas OKX and Binance have very low numbers, 327 and 381 respectively. In relation to leverage, MEXC affords as much as 200x, OKX affords as much as 100x, and Binance affords as much as 125x. Additionally, solely OKX and Binance provide margin and choices buying and selling, with MEXC not offering these companies.

Right here is the total comparability:

How Do I Get Began With MEXC?

Step 1: Create an MEXC Account

First issues first, you’ll want a MEXC account. Head over to the MEXC web site and click on on “Sign Up” within the high proper nook. The signup course of is fast and easy. Select your most well-liked technique of registration – e-mail or cellular quantity.  Create a powerful password and keep in mind to maintain it protected. Now comply with the phrases and situations and click on “Create an Account”.

Step 2: Confirm Your Identification (KYC)

MEXC, like many cryptocurrency exchanges, requires Know Your Buyer (KYC) verification. This helps forestall fraud and ensures a protected buying and selling surroundings for everybody. The KYC course of sometimes includes submitting government-issued identification paperwork and a selfie.

Go to your profile part and select “Verification”. Now, you’ve got two choices: Main KYC or Superior KYC. Click on whichever fits your wants. Verification could take as much as 24 hours.

Step 3: Deposit Fiat Forex or Crypto

Together with your account arrange and verified, it’s time to fund it. MEXC affords varied deposit strategies relying in your area. You could find an in depth checklist of supported deposit strategies underneath the “Buy Crypto” part on the MEXC web site. Some frequent choices embody financial institution transfers, credit score/debit card purchases (the place obtainable), and peer-to-peer (P2P) buying and selling.

In case you already personal cryptocurrency on one other trade or pockets, you may switch it to your MEXC account. Right here’s how:

• Go to the “Wallet” part in your MEXC trade.
• Click on “Deposit” and choose the particular crypto asset you wish to switch.
• The MEXC crypto trade will generate a singular deposit tackle for that exact cryptocurrency. This tackle acts like your checking account quantity however for crypto.
• Now, Copy the deposit tackle rigorously.
• Go to your different trade or pockets the place your cryptocurrency at the moment resides and discover the withdrawal part for that particular cryptocurrency.
• Paste the deposit tackle you copied from MEXC into the withdrawal tackle discipline in your different platform.
• Double-check the tackle for accuracy earlier than initiating the switch. The community have to be the identical on each platforms.
• As soon as confirmed, the cryptocurrency might be transferred out of your different platform to your MEXC account. The transaction would possibly take a couple of minutes to finish, relying on the blockchain community.

Step 4: Begin Trading Crypto

Now that your MEXC account is primed and prepared, it’s time to purchase crypto. On the MEXC web site, navigate to the “Markets” part. Throughout the buying and selling interface, you’ll see an inventory of tradable cryptocurrencies. These are sometimes displayed in pairs, like BTC/USDT (Bitcoin/Tether). The primary foreign money listed (e.g., BTC) represents what you’re shopping for, and the second foreign money (e.g., USDT) represents what you’re paying with.

When you’ve chosen your crypto pair, Click on on “Trade”. When you’ve chosen your order sort (Market or Restrict), enter the quantity of cryptocurrency you wish to purchase. Double-check all the small print of your order (value, quantity) earlier than confirming the transaction.

Conclusion: Is MEXC Proper for You?

Our MEXC overview highlights that the trade is a compelling choice for cryptocurrency merchants, significantly these seeking to spend money on new altcoins and low-fee buying and selling. Its large library of tradable belongings, together with over 2,300 altcoins and 300 futures contracts, caters to a various vary of buying and selling pursuits.

Nevertheless, MEXC isn’t with out limitations. Whereas KYC verification is non-compulsory, it restricts withdrawal limits for unverified accounts. Moreover, the dearth of fiat on-ramping choices is usually a barrier for newcomers. It additionally doesn’t provide options like a devoted margin buying and selling portal and crypto choices buying and selling.

MEXC Trade Evaluate: FAQs

Is MEXC protected to make use of?

Sure, MEXC appears to be a reasonably safe platform total. The trade has acquired an AA ranking on safety from an impartial assessor, with a rating of over 86%. This means an excellent stage of safety to your funds. In addition they make use of varied safety measures like chilly storage, 2FA, clear PoR knowledge, and extra.

Does MEXC provide fiat-to-crypto buying and selling?

No, MEXC doesn’t immediately assist fiat-to-crypto buying and selling. It solely helps crypto-to-crypto buying and selling. You’ll solely discover stablecoins pairs and BTC and ETH pairs, like BTC/USDT, ETH/USDT, and extra.

Does MEXC require KYC verification?

MEXC makes use of a tiered system for KYC verification. Whereas KYC isn’t necessary to start out utilizing the trade, it unlocks extra options and will increase your withdrawal limits. For unverified customers, you may nonetheless purchase, promote, and commerce crypto, however you’ll have a ten BTC day by day withdrawal restrict. It’s also possible to full Main and Superior KYC verifications with elevated withdrawal limits of 80 BTC and 200 BTC respectively.

Are there any restrictions on utilizing MEXC within the US?

MEXC will not be at the moment obtainable to customers in america. That is seemingly as a result of the trade will not be registered with any US monetary regulators.

Can I withdraw from MEXC to my checking account?

No, MEXC doesn’t at the moment assist direct withdrawals to your checking account. This implies you can not switch your crypto holdings immediately into your fiat checking account. You possibly can both switch your cryptocurrency from MEXC to a different trade that helps fiat withdrawals like Coinbase. Or, You should use the MEXC P2P platform to promote your cryptocurrency to different customers who’re prepared to pay with fiat foreign money.