One of the top 100 crypto exchanges in the industry is the MEXC exchange. Even though this platform is relatively newer than others and was established in 2018, it has quickly grown into a prominent name.
This platform has made a name for itself and can be a suitable option for new and experienced users, alike. However, before you start using the exchange it is important that you get a proper idea of what it offers to the users.
This article is brief yet it highlights all important details of the exchange to give you an insight of its features and services. Knowing this information can help every interested trader to make an informed decision.
Intro of the MEXC Exchange
MEXC is a distinctive platform that is based in Seychelles. The team working behind the exchange comprises of experts and professionals who have background in the blockchain industry.
It is a capable platform that has extends its services to more than 10 million users from over 170 countries around the world. It is also one of the regulated platforms in the following countries:
- United States of America
The MEXC global exchange is quite an appealing platform considering its trading volume is worth billions and has also listed over 1,520 coins. This includes more than 2,110 pairs. Further details of the platform are mentioned below.
Security of the Exchange
One of the significant attributes of the MEXC exchange is the level of safety it offers to its users. The security protocols implemented by the users is a crucial aspect you need to explore so you can opt for an exchange where your funds and information is kept safe.
The platform has implemented:
- Anti-DDoS System
- Anti-phishing code
- Cold wallet storage
- Email verification
- High-tech security risk control system
- Know your customer (KYC) verification
- Offline signature
- Two-factor authentication (2FA)
- Withdrawal whitelist
Digital Assets Supported by MEXC
It has already been mentioned above that the MEXC global exchange supports more than 2,110 trading pairs. This means there is a multitude of cryptocurrencies available on the platform. Apart from the trading pairs, there are over 1,500 coins and some of the major digital currencies it supports include the following:
- Bitcoin (BTC)
- Cardano (ADA)
- Chainlink (LINK)
- Doge (DOGE)
- Ethereum (ETH)
- Litecoin (LTC)
- Polkadot (DOT)
- Ripple (XRP)
- Tron (TRX)
- Vechain (VET)
Margin Trading Available
For traders who are interested in margin trading or trading with leverage, MEXC exchange can be a suitable option. However, unlike other exchanges in the industry, MEXC does not offer a very high leverage.
Margin trading basically allows traders to open bigger trading positions by borrowing funds from the brokers. The borrowed amount is called leverage. With the help of the leverage, traders can either get high benefits or high losses, depending on how the trades go.
MEXC offers up to 10x leverage for margin traders.
ETFs stand for exchange-traded funds. The MEXC global exchange allows its users to trade ETFs.
The beauty of ETFs is that these are investment tools and allow the traders to invest in assets that they don’t necessarily own. These tools keep a track of the price of an asset or a group of assets, which helps the crypto enthusiasts in investing in any of them without having to go through time-consuming procedures beforehand.
Trading ETFs with leverage enables the users to multiply the yield rate of an asset by a specific percentage. An example can be if you opt for a leveraged ETF that offers up to 3x returns on ETH then you will get 15% returns if the price of Ethereum increases 5%.
The MEXC exchange is one of the few platforms that supports crypto staking. This is only possible on proof-of-stake blockchains and requires staked tokens to validate the transactions.
Payment Methods Supported
If you are interested in using the MEXC platform then you should also know the various payment methods that it supports. Knowing the payment methods available can help you choose a platform that makes crypto buying and selling easier for you.
Therefore, if you want to use the MEXC global exchange then you need to know that it supports the following payment methods:
- Apple Pay
- Bank Cards
- Bank Cards
- Bank Transfers
Fee Charged by MEXC
The MEXC exchange has one of the most competitive fee structures that is yet another reason why it stands out among other crypto platforms. Choosing a platform that charges a fair and transparent fee can make quite the difference in the kind of experience you have.
Details of the fee charged are as follows:
- No fee for depositing funds
- Spot trading fee for market makers: 0%
- Spot trading fee for market takers: 0.1%
- No fee for market makers who trade futures
- Future trading market takers fee: 0.03%