MEXC Cryptocurrency Exchange Review : Pros & Cons

About Mexc

Launched in 2018 in Seychelles, East Africa, MEXC is technically a consolidated cryptocurrency exchange, and it is attaining prominence rapidly among cryptocurrency users all over the world these days. MEXC Exchange team is best-in-class in every way, and its team members belong to various world-beating organizations with different professional backgrounds, especially in finance. All the team members possess sound experience in blockchain and fiscal industries.

MEXC Cryptocurrency is having abidance licenses in 5 well-recognized nations viz. Switzerland, Canada, Australia, and the US. The exchange has featured approximately 371 coins (752 pairs) with a regular business volume of around USD 4 Billion. This review will explore various features and services provided by this leading asset platform.

Information Table

How To Register At MEXC Exchange ?

To register on MEXC, 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.

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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 MEXC Exchange Account ?

There is no mandatory verification at MEXC, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal Fee of 0.0004599 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 MEXC Crypto Exchange ?

There are two main options for topping up your balance on MEXC. 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.

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 MEXC 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 MEXC Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app –

MEXC Trading fees

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Normally, exchanges distinguishes between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

MEXC’s fee for takers is 0.20%. According to coinworldstory.com latest empirical study, the industry average spot trading taker fees were 0.2294% and the corresponding average spot trading maker fees were 0.1854%. MEXC’s offering, 0.20% for takers, is definitely OK in light of that report.

MEXC Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency.

For BTC-withdrawals, this exchange charges 0.0003 BTC. This is below the industry average. The global industry average BTC-withdrawal fee is 0.0004599 BTC

US-investors

US-investors can, unfortunately, not trade at MEXC. Restricted jurisdictions does however expand far beyond the US. If you’re from any of the below jurisdictions, we are sorry to say that you can’t trade here (as of 23 January 2023):

“North Korea, Cuba, Sudan, Syria, Iran, Yemen, Zimbabwe, Myanmar, Lebanon, Libya, Bolivia, Ecuador, Bangladesh, Somalia, Iraq, Congo-Kinshasa, Central African Republic, Kyrgyzstan, Burundi, Afghanistan, Macedonia, Ethiopia, Guinea-Bissau, Guinea, Liberia, Trinidad and Tobago, Venezuela, Serbia, Crimea, Mainland China, Singapore, Indonesia, the United States, Italy, Canada.”

Deposit Methods

At MEXC, as long as you are permitted to open an account, you can purchase crypto in a wide variety of ways. Wire transfer, debit cards, all different methods are available here. This makes MEXC a so called “entry-level exchange” where new crypot enthusiasts can take their first steps into the thrilling crypto world.

Features Of MEXC Crypto Exchange

MEXC has grown rapidly in 2019, gaining a 5% global digital asset trading market share within a year. Very recently in 2021 at the Crypto Expo Dubai MEXC Global was awarded the “Best Crypto Exchange Asia” award, adding an additional star to the already fulfilling list of achievements by the team at MEXC.

Safety and Stability

Multi-tier, multi-cluster system architecture.

High Performance

High performance trade matching engine technology handling a gigantic 1.4 million units per second.

High Liquidity

10+ million traders and MEXC GLOBAL partners, ensuring enough liquidity and abundant resources on the platform.

Localized Language Support

Supports multiple languages worldwide, creating localized content for our native traders.

Multi Cryptocurrency Support

Providing trading pairs and cryptocurrencies for our traders including BTC, ETH, USDT, USDC etc.

MEXC Customer Support

MEXC offers 24/7 responsive customer service and starts with a regular FAQ Section, which does not seem relatively well organized compared to its competitors dealing in major exchanges.

It may be hard for you when it comes to looking for anything (you have in mind) while using the search function on this page. Other customer support options include regular chat and email support when it involves person-to-person contact. This MEXC exchange review suggests traders chat with the team to get a better insight into its operations. It also has social media accounts which may be useful to share some queries.

Available At Android & IOS Store

MEXC 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 MEXC , 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.

MEXC Coindcx

Overall, MEXC Global is a great option for traders and investors, offering over 1,100 cryptocurrencies, ETH 2.0 staking, a mobile app, DeFi mining and multiple staking opportunities. The fees are also very competitive compared to other exchanges on the market and MEXC has a strong presence in the United States which wasn’t available earlier.

The only concern is the low customer support rating on Trust Pilot, but this could be due to the fact that MEXC are relatively new and still ironing out their operational processes.