MEXC Global, a cryptocurrency trading platform based in Singapore, has been making waves in the crypto sphere. Offering an impressive range of features and services, MEXC has garnered over 7 million registered users across more than 70 countries. Let’s dive into the details and find out what makes MEXC stand out.
What is MEXC Global?
MEXC Global is a robust cryptocurrency exchange offering a wide range of services, including futures, spot, and margin trading. Beyond trading, it provides investment opportunities in ETFs, cryptocurrency staking, and more. Founded in 2017, MEXC has risen to become one of the world’s largest cryptocurrency exchanges.
Is MEXC Global Legitimate?
Absolutely, MEXC Global is a legitimate and regulated cryptocurrency exchange. It holds compliance licenses in Australia, Canada, and Switzerland, showcasing its commitment to user fund safety. Security measures include 2-factor authentication, cold storage for digital assets, and strict KYC/AML policies. MEXC complies with GDPR and Fincen regulations, expanding its reach into countries like Australia, Estonia, and the United States.
KYC Requirement?
Surprisingly, MEXC Global allows you to sign up without going through KYC (Know Your Customer) verification. However, if you plan to trade or participate in referrals and competitions, you will need to verify your identity.
Fees at MEXC
MEXC users enjoy free deposits onto the platform, but withdrawals come with transaction fees to cover network gas fees. Notably, withdrawal fees can vary significantly depending on the token. For instance, withdrawing USDT incurs a $20 USD fee.
Spot trading fees are competitively low at 0.2%, and you can enjoy an extra 20% discount by using MEXC’s native token, MX, to purchase cryptocurrencies. As for futures trading, the Maker/Taker fee starts at 0.02%/0.06% and decreases with higher monthly trading volumes. A detailed fee schedule is available on their website.
Supported Cryptocurrencies
MEXC’s popularity partly stems from its extensive offering of over 1,100 cryptocurrencies. It covers stablecoins, altcoins, memecoins, DeFi coins, Metaverse coins, and GameFi coins. The exchange frequently lists new tokens and even has a Launchpad feature to support emerging cryptocurrencies.
MEXC Staking
MEXC offers multiple staking options, although the yields are comparatively lower than other exchanges. Staking features include Crypto Staking with flexible and fixed terms, MX DeFi for DeFi mining, Slot Auction for Polkadot and Kusama parachain auctions, ETH 2.0 Staking, Launchpad for early project token investment, M-Day rewards for holding MX and trading high volumes, and Kickstarter for token voting and airdrops.
MEXC Global Mobile App
The MEXC Global app boasts a user-friendly interface suitable for both beginners and experienced traders. It’s available for Android and iOS devices, with a decent rating on both app stores.
Customer Support & Online Communities
MEXC Global maintains a sizable customer support team and a strong online presence. Users can access 24/7 live support via chat and email. The platform is active on various social media platforms, including Telegram, Discord, Youtube, Twitter, Facebook, Reddit, LinkedIn, Instagram, Medium, and VK. However, it’s worth noting that MEXC’s customer support ratings on Trustpilot are less favorable.
Availability in the USA
Good news for US residents – MEXC Global is accessible to users in the United States. Although it was previously unavailable to US citizens, MEXC has obtained the necessary licensing to operate in the US. The exchange is accessible in over 70 countries, including Australia, Canada, Switzerland, Singapore, and more.
Final Thoughts
In summary, MEXC Global shines as a versatile cryptocurrency exchange offering an extensive selection of over 1,100 cryptocurrencies, various staking options, and user-friendly features like copy trading and crypto ETFs. While KYC isn’t mandatory for account creation, it’s required for specific activities.
With competitive fees, a solid mobile app, and regulatory licenses in multiple jurisdictions, MEXC has established itself as a legitimate and accessible platform for traders worldwide. However, it’s essential to consider the mixed customer reviews regarding support when choosing an exchange. All in all, MEXC Global presents a comprehensive and appealing option for both novice and experienced crypto traders.
