What is MEXC Global Exchange?
The MEXC global exchange ranks among the top 20 crypto exchanges. MEXC has a presence in over 200 countries and regions catering to about 6 million customers worldwide.
The centralized global exchange has managed to acquire permits from strict jurisdictions like the US and Australia. For US traders, this means access to over 1300 cryptocurrencies and more than 1800 pairs for trading. Without KYC, MEXC gives users access to limited features of the platform.
MEXC Global offers trading on the website and its app. Traders get access to spot and margin trading along with derivatives, futures, leveraged ETFs, and much more. MEXC blog regularly publishes trending content, while the Academy has elaborate guides for beginners and trading tips.
- MEXC global exchange supports 1300+ cryptocurrencies and has 1800+ pairs for trading
- The exchange caters to over 6 million customers in more than 200 countries and regions
- MEXC offers spot trading, margin trading, derivatives, futures, leveraged ETFs, and more
- Users can trade on the website or download the mobile app for Android and iOS devices
- Without KYC, traders can access limited features. For withdrawals up to 0.1 BTC, users need not complete KYC.
MEXC Company Overview
MEXC Global originally started out as MXC Exchange in 2018. The exchange is based in Seychelles in East Africa. Interestingly, many of its employees are from Singapore. In 2021, MXC Exchange underwent rebranding as a part of its globalization efforts.
John Chen Ju, the current CEO of MEXC Global helmed the rebranding efforts. This overhaul was accompanied by the global expansion strategy, and the exchange went on to mark its presence in India, Japan, Indonesia, Brazil, Vietnam, South Korea, and more countries.
Ever since its launch in 2018, MEXC Global has focused on expanding its reach all over the globe. So far, MEXC has acquired permits from Estonian MTR, US MSB FinCEN, and several such regulatory bodies across the world.
How Does MEXC Exchange Work?
MEXC Global is a centralized exchange that lets users buy, sell, and trade cryptocurrencies, stablecoins, ERC-20 tokens, and other digital assets.
With MEXC Global, users can:
- Buy, sell, and trade cryptocurrency and other digital assets
- Access P2P trading
- Get access to spot and margin trading
- Invest in futures, leveraged ETFs, bull bear contracts, and more
- Earn with the exchange’s staking program, Launchpad, Kickstarter, and more
The signup process is more or less similar to other crypto exchanges. However, unlike most platforms, MEXC lets users access limited features without KYC.
Does MEXC Have A Token?
MEXC Global has a native token called the MX Token. The token was introduced in 2018 and its supply was capped at 1 billion.
With this, MEXC users can:
- Get a discount on trading fees
- Invest in Launchpad, Kickstarter, MX-DeFi, and more
- Vote on projects to be listed on the platform
At the time of writing, MX Token is trading at $1.52. Since the start of 2022, the token’s price has been more or less stable between $1.3 and $2.8. Traders looking to be a part of the MEXC ecosystem can consider investing in MX Token.
MEXC Global Exchange Review: Pros and Cons
Even though MEXC Global exchange puts a strong foot forward, it has some downsides. To determine whether MEXC is the right exchange for you to sign up on, you should check out the pros and cons.
This is why MEXC is a great exchange:
- Great option for US traders
MEXC is great for the US traders and can potentially give Binance a run for its money. MEXC Global offers trading for over 1300 cryptocurrencies and has more than 1800 pairs for trading.
- Low trading fees
Compared to other cryptocurrency exchanges, MEXC has competitive rates and a straightforward fee structure. The exchange charges straight 0.200% taker and maker fees for spot trading. For futures trading, the exchange has a tiered structure.
- Advanced trading available
With MEXC Global exchange, users can participate in spot and margin trading. Along with this, traders can access derivatives like futures and leveraged ETFs.
These are some possible downsides to consider:
- Average customer service
There have been mixed reviews about the customer service at MEXC Global. A few reports claimed that the assistance was slow or not very responsive or helpful.
MEXC Supported Cryptocurrencies
MEXC Global’s strongest point is the sheer number of cryptocurrencies available on the platform. Users can find almost any coin that they are looking for.
Here’s a quick rundown of popular cryptocurrencies listed on MEXC:
- Shiba Inu
As new crypto assets get listed regularly, you should check if the coins you are looking for are listed on the exchange before signing up.
MEXC Global exchange has quite affordable fees and the fee structure is also simple.
- For spot trading, there’s a fixed fee of 0.200%.
For futures trading, MEXC has fee structure that ranges between 0.02% and 0.06% depending on your level.
Levels are determined by the value of the assets your hold in your wallet and your trade volume.
MEXC Deposit Methods
Deposits are free on the exchange while the withdrawal fees keep changing. Users can deposit funds to their MEXC account using the following methods:
- Credit and Debit Cards
- Bank Transfers
- Google Pay
- Apple Pay
Further, the exchange accepts multiple fiat currencies including USD, EUR, AUD, CAD, TWD, AED, PHP, and more.
MEXC Trading Services Offered
As discussed earlier, MEXC Global offers advanced trading. For spot trading, the platform offers an elaborate trade view with intuitive controls.
As you can see, the trade view has the central panel showing selected currencies. Towards the left, you have the order book displaying tickers. Right below the main panel, you can fill up the order forms and place orders.
Traders can execute the following order types:
For margin trading, users get the same intuitive trade view. And for futures, you get an even simpler interface. Alongside the central panel, you have an order book and order form.
Other Products By MEXC
Apart from the trading services, MEXC Global offers complementary products to benefits its users. Here’s a quick overview of top services offered by the exchange -
- Launchpad: Enables users to invest early in new projects
- Kickstarter: Users can receive rewards for voting on emerging crypto projects
- MX-DeFi: Enables MX Token holders to mine and receive rewards
- PUSH: P2P transactions over the exchange
- Staking: MEXC offers locked and flexible staking. Users can stake their digital assets and earn interest.
For the full list of products and services, check out MEXC’s official website.
MEXC Security: Is MEXC Safe?
So far, there have been no reports of any hacks or security breaches at MEXC Global. And as discussed earlier, MEXC has complied with regulatory authorities to obtain licenses. For instance, it has complied with US MSB. To be approved by these regulatory bodies, exchanges have to meet high standards.
As far as security is concerned, the exchange utilizes high-end cold storage and stores most of the assets offline. Further, MEXC makes use of multi-signature and layered architecture to safeguard all assets.
For added security, MEXC makes it compulsory for users to enable two-factor authentication along with phone and email verification.
How does MEXC Customer Service work?
MEXC has a number of different contact options if you have an issue. You can find links to all of their primary contact channels on their contact page.
While many of these channels are great, MEXC goes one step further and offers live chat on their website.
Something many other similar crypto exchanges simply don't do.
On the website, look for the little chat bubble in the bottom right to open the live chat window.
MEXC Alternatives: MEXC vs Binance
- If you are looking for an exchange that offers more than a tradeview, you can consider Binance. It’s the largest crypto exchange with a high trading volume. Binance offers several features like Binance Pay, Cards, and more
- For automated trading and other useful features, you can check out KuCoin. It has a trading bot, lending feature, and other complementary products.