In response to Coingecko, MEXC is among the many prime 10 crypto exchanges. It has a every day buying and selling quantity of over $800 million, making it your best option for brand new merchants. On this MEXC overview, we’ll cowl every part from its in depth 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.
- It is usually a preferred no-KYC crypto trade with a 10BTC every 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
|
Sorts |
Crypto buying and selling platform |
|
12 months Based |
2018 |
|
Supported International locations |
170+ |
|
Supported Cash |
2300+ belongings and 2800+ buying and selling pairs |
|
Buying and selling Options |
Spot Buying and selling, Perpetual Futures, Copy Buying and selling, Demo Buying and selling, P2P Buying and selling, and so on. |
|
Cost Strategies |
SEPA, credit score/debit card, third-party fee suppliers like MoonPay and Mercuryo, and so on. |
|
Buying and selling Charges |
|
|
Earn Merchandise |
Financial savings, Crypto loans, and Kickstarter |
|
Safety Measures |
2FA, chilly storage, PoR knowledge, anti-phishing code, withdrawal handle whitelisting, and extra |
|
Restricted International locations |
North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Singapore, Venezuela, america, and Canada |
|
Buyer Service |
Stay chat, assist discussion board, assist ticket system |
|
Cellular App |
Android and iOS |
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, nevertheless it has established itself as a serious 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 instances.
The trade gives 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 concerned with a extra diversified portfolio, MEXC options staking and incomes companies, a launchpad for brand new initiatives, and demo buying and selling rookies. Builders may leverage MEXC’s API to combine knowledge into their very own functions.
MEXC is understood for its zero buying and selling charges occasions. These are time-based particular occasions. At the moment, it’s providing 0% spot maker and 0% futures maker charges. The trade is straightforward to make use of, even for rookies, because of its clear and easy interface. Safety can also be a prime precedence. They preserve most consumer funds in offline storage (chilly storage) and observe strict worldwide safety guidelines to maintain your crypto secure.
Professionals of MEXC
- Futures makers can get pleasure from zero charges and takers as little as 0.01%, effectively 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 gives distinctive liquidity for futures buying and selling, that 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
Buying and selling Options of MEXC Trade
Spot Buying and selling
MEXC gives a spot buying and selling platform the place you should buy and promote all kinds of cryptocurrencies immediately. They’ve a ton of selections, with over 2300 completely 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 consists of stablecoin-to-crypto pairs and crypto-to-crypto pairs. For instance, you possibly can commerce BTC/USDT, BTC/USDC, BTC/ETH, and BTC/TUSD.
In terms of shopping for and promoting these cryptocurrencies, MEXC supplies you with a wide range of order sorts to fit your buying and selling methods. Listed here are a couple of of the most typical ones:
- Restrict Order: This allows you to specify the goal worth you need to purchase or promote a cryptocurrency at. Your order will solely be executed if the market worth reaches your chosen worth level.
- Market Order: That is the only means to purchase or promote. You merely inform MEXC how a lot of a cryptocurrency you need to purchase or promote, and the platform executes your order at the very best obtainable market worth at that second.
- Cease-Restrict Order: This combines components of each restrict and stop-loss orders. You set a “stop price” that triggers the order to develop into a restrict order if the market worth reaches that time. That is helpful for managing threat. For example, you might need some Ethereum (ETH) and need to promote it routinely if the worth drops beneath a sure stage. With a stop-limit order, you set your cease worth and a restrict worth 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 worth goes down an excessive amount of, and a “take-profit” order to promote if the worth goes as much as a sure level. Whichever order will get crammed first, the opposite one will get canceled routinely.
MEXC additionally has a bunch of technical indicators that can assist you resolve what to purchase and promote. These embody standard instruments like Ok-lines, transferring averages, and MACD. These instruments enable you see traits in costs.
The trade even integrates with TradingView, a sophisticated charting platform utilized by many specialists. This allows you to use much more superior instruments to investigate the market in additional element.
Perpetual Futures Buying and selling
MEXC has a platform for buying and selling futures contracts. It’s completely different from shopping for and promoting crypto proper now. In futures buying and selling, you agree to purchase or promote a certain quantity of cryptocurrency at a hard and fast worth on a selected date sooner or later.
The MEXC trade gives greater than 300 futures contracts. These contracts include leverage of as much as 200x, which implies you possibly can management a a lot bigger place than your preliminary funding.
There are two fundamental kinds 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 worth.
- Coin-Margined Perpetual Futures are settled within the precise cryptocurrency. So, you probably have an extended place on a Bitcoin contract, you get BTC once you shut the place.
Keep in mind, as an alternative of conventional futures, MEXC gives perpetual contracts, which do not need expiration dates.
MEXC goes past the fundamental order sorts obtainable within the spot market and gives superior order sorts to offer you extra management over your trades.
- Trailing cease orders: These routinely observe the worth of a crypto. If the worth 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 worth to look at for, and your purchase or promote order solely prompts when that worth is reached.
- Publish-only orders: You set in an order to purchase or promote at a sure worth, nevertheless it solely goes by if there’s another person keen to commerce at that worth. 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 worth slippage whereas shopping for.
MEXC permits you to select between two margin modes in your futures trades. Remoted margin mode makes use of solely a certain quantity 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 entire portfolio pockets stability for all of your positions. This may be extra environment friendly, nevertheless it additionally has a much bigger threat of shedding every part 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 lowered 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 payment, which is a payment 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 gives prizes like futures bonuses, which can be utilized as a further margin in your trades. Mainly, you get extra money to commerce with and any income you make are yours to maintain.
- Additional prize pool: As a thanks to customers, MEXC throws in an additional pool of prizes on prime of the common fortunate draw. At the moment, it’s providing a 74,200 USDT prize pool.
Demo Buying and selling
MEXC gives a “Demo Trading” characteristic particularly designed for brand new or inexperienced futures merchants. It permits you to check out completely different buying and selling methods and get acquainted with the MEXC platform with out risking any of your individual cash.
Right here’s the way it works: MEXC supplies you with a digital beginning stability of as much as 50,000 USDT (Tether) of their simulated buying and selling setting. 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 Buying and selling platform mimics the appear and feel of the true MEXC futures market. You’ll see dwell market knowledge, charts, and order sorts, permitting you to follow putting purchase and promote orders.
Copy Buying and selling
MEXC can also be a preferred crypto copy buying and selling platform. This sounds sophisticated, nevertheless it’s a means so that you can become profitable by following the trades of skilled merchants.
There are two sides to MEXC copy buying and selling. You generally is a “follower” who copies different merchants, otherwise you generally is a “lead trader” whose trades are copied by others.
To be a follower, you merely choose 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 resolve who to observe.
When you choose a dealer to observe, you allocate a few of your digital belongings like USDT to them. Each time the dealer makes a commerce, MEXC routinely copies that commerce for you utilizing your allotted funds. Nevertheless, there’s a fee. You should pay as much as 15% of your income to your lead merchants, plus common buying and selling charges.
Fast Purchase/Promote (MEXC Specific)
MEXC Specific gives 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 completely different charges and minimal and most shopping for limits relying in your nation.
P2P Buying and selling
MEXC gives a P2P buying and selling service the place you possibly can straight purchase and promote cryptocurrency with different customers, utilizing your native foreign money. This implies you’re buying and selling straight with one other particular person, as an alternative of the trade itself. So, there are zero charges.
The trade presently permits buying and selling with 3 fiat currencies: Vietnamese Dong (VND), Russian Ruble (RUB), and South Korean Received (KRW). There are greater than 30 completely different fee strategies supported. This provides you flexibility to decide on a fee methodology that’s handy for you, like financial institution transfers or e-wallets.
At the moment, MEXC helps solely 4 cryptocurrencies on its P2P market: USDT, USDC, BTC, and ETH. For added safety, IT makes use of a system referred to as “Escrow”. Because of this once you place a P2P order, your crypto is held by MEXC till you affirm that you just’ve acquired the fee from the opposite consumer. When you affirm, the crypto is launched to the client. This escrow system helps to guard each consumers and sellers from fraud.
MEXC Staking & Earn Providers
MEXC Financial savings and Loans
MEXC supplies you with choices for fastened and versatile staking, in addition to crypto loans. You may 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 selected interval in trade for greater rewards, however you possibly can’t entry them till the staking interval ends. It gives 30-day, 60-day, and 120-day fastened staking choices.
You may earn as much as 50% APR on some tokens. At the moment, 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 possibly can borrow cryptocurrency from MEXC utilizing your present crypto holdings as collateral. When you can’t repay the mortgage, MEXC would possibly take your collateral.
MEXC calculates the curiosity each 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 you could’t repay your mortgage partially. You may solely make a full compensation, and it’s important to wait not less than 30 days after borrowing earlier than you are able to do that. This is perhaps a downside in comparison with different exchanges like OKX and Bitget.
Kickstarter and Launchpad
Launchpad is a launching pad for promising crypto startups. MEXC fastidiously selects these initiatives after a radical overview course of. This implies you might be moderately assured that the initiatives on Launchpad are usually not scams and have robust potential for development. Launchpad helps these new initiatives achieve recognition and funding, whilst you get the chance to be among the many first buyers.
Kickstarter is a bit completely different. Right here, that you must maintain MX tokens to obtain new venture airdrops. The platform additionally gives as much as a 100% APR on MX holdings. You should maintain not less than 1,000 MX tokens for a 30-day length.
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 remember when utilizing the MEXC Mastercard:
- There’s a small payment 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’t spend greater than 30,000 USDT in a month. The overall quantity you possibly can 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 are not 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% payment, with a minimal cost of 0.60 EUR per transaction.
MEXC Referral & Affiliate Program
MEXC gives 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 that you must do is share your distinctive referral hyperlink with your pals.
The precise quantity of fee you obtain is determined by what number of MX Tokens you maintain in your account. When 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 most effective 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 homeowners. To develop into an affiliate, you’ll must submit a proper utility by the MEXC Affiliate Portal.
As soon as MEXC critiques your utility and approves it, you’ll achieve entry to a novel referral hyperlink and a variety of unique advantages. In comparison with the Referral Program, associates can earn considerably greater fee charges, probably beginning to 50%.
MEXC API
MEXC gives a strong API (Utility Programming Interface) for customers who need to automate their crypto buying and selling methods. This basically permits exterior functions to work together together with your MEXC account, enabling features like putting 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 & Buying and selling Prices
MEXC gives aggressive buying and selling charges for each spot and futures buying and selling, making it a gorgeous choice for a lot of merchants. Let’s break down the various kinds of charges you’ll encounter on MEXC.
Buying and selling Charges
MEXC has a two-tier payment 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 Buying and selling Charges: MEXC gives among the lowest spot buying and selling charges within the {industry}. In actual fact, there are presently 0% charges for makers and 0.1% for takers on all spot buying and selling pairs. This can be a promotional supply that will change sooner or later. Typically, it has a 0.1% maker/taker payment construction.
- Futures Buying and selling Charges: Makers get pleasure from a 0% maker payment, whereas takers incur a 0.01% taker payment.
For extra reductions on buying and selling charges relying in your buying and selling quantity, you possibly can test their VIP charges.
Deposit and Withdrawal Charges
MEXC sometimes doesn’t cost any charges for depositing cryptocurrencies. However, there is perhaps further community charges relying on the particular cryptocurrency you’re depositing. These charges are usually not charged by MEXC however by the expertise behind the cryptocurrency itself (blockchain). The price of these charges can differ relying on how busy the blockchain community is.
Withdrawal charges additionally depend upon the chosen cryptocurrency. MEXC gives a transparent payment construction, and you’ll simply discover the precise withdrawal payment for every cryptocurrency straight on the withdrawal web page.
Right here is the final overview of MEXC withdrawal charges:
|
Coin |
Community |
Charges |
|
USDT |
TRC-20 |
1 USDT |
|
Ethereum |
ERC-20 |
0.001 ETH |
|
Bitcoin |
BTC |
0.00015 BTC |
|
Polkadot |
Polkadot |
0.1 DOT |
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 may promote as much as 1,000 EUR value of cryptocurrency per transaction per day utilizing SEPA, a European fee system.
- Credit score/Debit Card Deposit Limits: You may 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 possibly can 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 greater, at 400 BTC.
How Many Cryptocurrencies Does MEXC Assist?
MEXC International helps a staggering variety of cryptocurrencies, boasting over 2300 cash and 2800 buying and selling pairs. This consists of all the favored excessive market-cap cash you’d anticipate, like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
The platform additionally caters to these concerned 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 Property (RWAs), Decentralized Finance (DeFi), and the Metaverse.
Listed here are only a few examples of the area of interest tokens you could find on MEXC:
- OCEAN
- Chainlink (LINK)
- Aave (AAVE)
- Decentraland (MANA)
- The Sandbox (SAND)
- Filecoin (FIL)
- Cosmos (ATOM)
- Algorand (ALGO)
- XRP
- Polkadot (DOT)
MEXC Safety & Rules
MEXC has applied a wide range of safety measures:
- Two-Issue Authentication (2FA): So as to add an additional layer of safety, MEXC gives 2FA. This requires a second verification code when logging in, along with your password. You may select between e mail verification and the Google Authenticator app.
- Chilly Storage: It retains most of its customers’ cryptocurrency in offline storage. These wallets are usually not related to the web, making them extremely proof against hacking makes an attempt. Solely a small portion of funds is stored on-line for day-to-day operations.
- Encryption: MEXC makes use of two kinds of encryption: SSL (Safe Sockets Layer) and AES-256 (Superior Encryption Commonplace). These industry-standard protocols guarantee safe communication between your machine and MEXC’s servers.
- Phishing Safety: The trade gives an anti-phishing code characteristic. You may set a novel code that might be included in authentic 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 prohibit withdrawals to solely pre-approved addresses. With this enabled, any handle you attempt to withdraw to for the primary time might be blocked till you manually add it to the whitelist, providing you with further safety in opposition to unauthorized withdrawals.
- Penetration testing: MEXC frequently goes by exams 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.
Observe: 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 costs.
Buyer Assist
MEXC’s Assist Middle serves as your first line of protection. Accessible 24/7, the assistance middle gives a wealth of data and step-by-step guides on a variety of subjects. From downloading and organising the trade to understanding completely different buying and selling choices and managing your account safety, the Assist Middle equips you with all of the data.
For fast and easy inquiries, MEXC gives a handy chatbot. This AI-powered assistant can reply your fundamental questions and supply immediate options to widespread points.
If the chatbot doesn’t have the reply you’re in search of, otherwise you choose chatting with an actual particular person, MEXC additionally gives dwell chat assist. Whereas wait instances could differ, it permits you to join straight with a consultant who can handle your issues and supply personalised help. Plus, you too can submit a assist request and phone them by Telegram.
Nevertheless, MEXC has blended buyer critiques with solely a 1.3/5 score on Trustpilot. It additionally has a median score 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 gadgets.
Designed with user-friendliness in thoughts, the app has a transparent and intuitive interface that caters to each rookies and skilled merchants. It has all of the options of the desktop model like buying and selling, depositing and withdrawing funds, staking, and extra. You can too arrange worth alerts and obtain push notifications.
Options to MEXC
OKX and Binance are the 2 greatest options to the MEXC trade. MEXC is understood for buying and selling altcoins while not 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 terms of leverage, MEXC gives as much as 200x, OKX gives as much as 100x, and Binance gives as much as 125x. Additionally, solely OKX and Binance supply margin and choices buying and selling, with MEXC not offering these companies.
Right here is the total comparability:
|
Options |
MEXC |
OKX |
Binance |
|
Based |
2018 |
2017 |
2017 |
|
Greatest for |
No-KYC altcoin buying and selling |
DeFi and Web3 ecosystem |
Excessive quantity and liquidity |
|
Solvent (PoR) |
✓ |
✓ |
✓ |
|
Most Leverage |
200x |
100x |
125x |
|
Web3 Ecosystem |
✗ |
✓ |
✓ |
|
Margin Buying and selling |
✗ |
✓ |
✓ |
|
Choices Buying and selling |
✗ |
✓ |
✓ |
|
Supported cash |
2300+ |
327+ |
381+ |
|
Buying and selling charges |
0% maker and 0.1% taker |
0.08% maker and 0.1% taker |
0.1% maker/taker |
|
US presence |
✗ |
Restricted (OKCoin operates) |
Separate platform Binance US obtainable |
|
Native token |
MX |
OKB |
BNB |
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 prime proper nook. The signup course of is fast and easy. Select your most popular methodology of registration – e mail or cellular quantity. Create a robust password and keep in mind to maintain it secure. Now comply with the phrases and situations and click on “Create an Account”.
Step 2: Confirm Your Id (KYC)
MEXC, like many cryptocurrency exchanges, requires Know Your Buyer (KYC) verification. This helps stop fraud and ensures a secure buying and selling setting 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 might have 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
Along with your account arrange and verified, it’s time to fund it. MEXC gives varied deposit strategies relying in your area. You will discover an in depth record of supported deposit strategies beneath the “Buy Crypto” part on the MEXC web site. Some widespread choices embody financial institution transfers, credit score/debit card purchases (the place obtainable), and peer-to-peer (P2P) buying and selling.
When you already personal cryptocurrency on one other trade or pockets, you possibly can 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 need to switch.
- The MEXC crypto trade will generate a novel deposit handle for that exact cryptocurrency. This handle acts like your checking account quantity however for crypto.
- Now, Copy the deposit handle fastidiously.
- Go to your different trade or pockets the place your cryptocurrency presently resides and discover the withdrawal part for that particular cryptocurrency.
- Paste the deposit handle you copied from MEXC into the withdrawal handle area in your different platform.
- Double-check the handle 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 Buying and selling 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. Inside the buying and selling interface, you’ll see a listing 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 kind (Market or Restrict), enter the quantity of cryptocurrency you need to purchase. Double-check all the main points of your order (worth, 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, notably these seeking to put money into 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 shortage of fiat on-ramping choices generally is a barrier for rookies. It additionally doesn’t supply options like a devoted margin buying and selling portal and crypto choices buying and selling.
MEXC Trade Evaluate: FAQs
Is MEXC secure to make use of?
Sure, MEXC appears to be a reasonably safe platform general. The trade has acquired an AA score on safety from an impartial assessor, with a rating of over 86%. This means a very good stage of safety in your funds. In addition they make use of varied safety measures like chilly storage, 2FA, clear PoR knowledge, and extra.
Does MEXC supply fiat-to-crypto buying and selling?
No, MEXC doesn’t straight 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 obligatory to begin utilizing the trade, it unlocks extra options and will increase your withdrawal limits. For unverified customers, you possibly can nonetheless purchase, promote, and commerce crypto, however you’ll have a ten BTC every day withdrawal restrict. You can too 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 isn’t presently obtainable to customers in america. That is possible as a result of the trade isn’t registered with any US monetary regulators.
Can I withdraw from MEXC to my checking account?
No, MEXC doesn’t presently assist direct withdrawals to your checking account. This implies you can’t switch your crypto holdings straight into your fiat checking account. You may both switch your cryptocurrency from MEXC to a different trade that helps fiat withdrawals like Coinbase. Or, You need to use the MEXC P2P platform to promote your cryptocurrency to different customers who’re keen to pay with fiat foreign money.
