Phemex Review : Trusted Crypto Exchange For High Volume Trader

About Phemex Exchange

Phemex is a cryptocurrency exchange with the possibility of spot and futures trading, instant asset conversion, card purchases. The platform offers trading bonuses , including a welcome signup bonus, passive income tools. The user can buy a premium membership and get benefits when working with the platform ; there are also ways to get a premium membership for free. We offer an overview of the possibilities of the Phemex crypto exchange from the editors of Coinworldstory.

Information Table

How To Register At Phemex Exchange ?

To register on Phemex, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Phemex Account ?

There is no mandatory verification at Phemex, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of 2 BTC per day. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Bitstamp, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Phemex Crypto Exchange ?

There are two main options for topping up your balance on Phemex. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Phemex Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Phemex Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Phemex Fees

Phemex fees are competitive and very similar to the fees at Binance or BitMEX. Phemex use a tiered structure based on your 30-day trading volume to determine maker and taker fees.

Phemex employs a 0.01% maker fee and a 0.06% taker fee for contracts. Phemex spot trading fees are 0.1% for both maker and taker. This is highly competitive compared to industry standards, and both spot and contract fees can be further reduced through our VIP program.

Features Of Phemex Crypto Exchange

Passive earnings on cryptocurrency

Flexible and fixed investment plans allow you to earn up to 10% per month on your crypto assets. Assets can be withdrawn from flexible accounts at any time, while fixed accounts cannot be unlocked before a specified period.

Phemex Customer Support

When you need a reliable customer support service, Phemex is there to help. You can reach Phemex customer service team 24 hours a day, 7 days a week.

Phemex team make sure that your transactions go smoothly and with ease every time – making Phemex your trusted digital asset trading center!

Demo Account

Phemex has a testnet where you can practice trading cryptocurrencies without risking real money. Go to ” Products ” -> ” Test Mode Trading “. The simulator is available on both PC and mobile devices.

To work in the test network, you will need to create a separate account. The rest of the functionality is no different from the usual. Both spot and contract markets are supported.

250+ Cryptocurrency Available For Trade

With so many cryptocurrencies out there, it can be hard to figure out which ones are worth your time. We’ve got you covered. With Phemex, you’ll get the latest updates on over 250 cryptocurrencies, and support for smaller-cap coins too. Check List Here

Refer & Earn Program

You can find your referral link by clicking on the ” Invite friends ” button in the menu that opens when you hover over the account name. You can distribute both a link and a referral code, their effect will be the same.

What do you get:

• 10% commission from taker referrals.
• 50% of referrals welcome deposit bonus.

What does the invitee get:

• 10% discount on trading fees.
• 7 days trial version of Premium account.

In addition, there is the Phemex All-Star program, where a member can create an unlimited referral network and earn 50% of the commission of all referrals in it.

Available At Android & IOS Store

Phemex exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Passive earning tools

In the Passive Income section of Phemex, you can invest USDT or BTC and earn daily profits. At the same time, the exchange guarantees the receipt of the declared profit, since even in the event of a deterioration in the market situation, it will cover payments from its own funds until it develops a new strategy.

Mind Blowing Design

They’ve done a great job with making the homepage easy to navigate. The only drawback is that, with the white background, it can be hard on your eyes. Other than that, you’ll find their charts and trade tools easy to use if you’re already familiar with Tradingview.

Phemex Video

Conclusion

The Phemex exchange is listed on sites like CoinGecko and CoinMarketCap. You’ll find high trading volumes, especially for futures. With a premium account, you can save a lot of money when buying it for one year; at the same time, all commissions for spot-trading will be waived. If you’re unsure about anything, there’s always a test platform that offers virtual assets. On Phemex, the user doesn’t have to go through any verification; however, we recommend it if you want full functionality and many bonuses.