What is MEXC?
MEXC Global is available in almost every country, including strict jurisdictions such as the US, Australia, and Canada. The exchange has a variety of markets and tools so that customers can trade cryptocurrencies how they like straight away. With a great customer support team, and no identity verification required, it is easy to see that MEXC prioritizes customer satisfaction.
My Overall Thoughts on MEXC
MEXC is a solid platform for all types of crypto traders and investors. Whether you are new to the crypto industry, or have been trading for years, you will find MEXC promising in terms of its features and options. To be specific, these are the top 3 things that I like the most about this exchange:
1) Wide variety of over 1,520+ cryptocurrencies: A good crypto platform should offer a large number of crypto assets, and MEXC fulfils this requirement brilliantly. With support for more than 1,520 crypto assets, and over 2,110 trading pairs, you will have plenty of options for trading.
2) Various trading markets: Not only does MEXC offer spot trading, but it supports margin trading, a futures market, and even ETF indices. If you are interested in leverage trading, you will be pleased to learn that MEXC offers up to 125x leverage, which is higher than most other platforms, which usually only offer up to 100x.
3) Customer support team: Multilingual support enables MEXC to sort out any issues quickly and efficiently. They use live chat agents to answer your questions and provide solutions in real time. If you prefer, you can also send an email or submit a ticket and receive a response within a few hours.
One minor criticism of MEXC is that it currently offers a limited range of cryptocurrencies that can be purchased instantly. However, as mentioned above, MEXC offers the largest range of coins that can be traded, so you can simply trade USDT or other cryptocurrency for the coin you like.
$25 FREE USDT
10% Discount - Trading Fees
Key Features & Advantages of MEXC
Due to the availability of many features and trading options along with investing activities, MEXC certainly have a lot to provide to their users. You can take a look below to find out the key benefits of trading with MEXC.
Negatives & Disadvantages of MEXC
While MEXC has some of the best possible options to offer their users, they also have a few areas where improvements can be made. If you are wondering what they are, take a look below.
What Services does MEXC offer?
You can take a look below to understand how MEXC actually works and what the services that they offer are. This will also help you understand if the platform is any good for you, or whether you should keep looking for another suitable choice according to your preferences.
Quick crypto buying and selling: If you are running short on time, you want to get through tasks quickly and efficiently. Thanks to MEXC's quick buying and selling feature, you can easily make your crypto transactions within a matter of seconds. This feature is easily accessible by all the users through the top menu of the platform. As soon as you click on the feature, you will be provided with the list of fiat currencies and crypto assets you can choose. You can also select the preferred payment method to meet your needs.
Over 1,520+ cryptocurrencies available: One of the most important points for investors and traders to consider when choosing a crypto exchange is the diversity of assets available. With MEXC, you don't have to worry about this factor as they offer tons of cryptocurrencies and trading pairs to investors and traders. To be specific, you can find more than 1,520 cryptocurrencies and more than 2,110+ trading pairs - the most of any crypto exchange.
You are spoilt for choice so it is up to you to trade, buy, or sell as you like. You can scroll through the long list of available assets and decide which one you like, or you can search for a particular coin if you prefer. There are so many cryptocurrencies available at MEXC, ranging from the most popular and hyped ones, to new projects that not many have heard of. It is a good idea to evaluate all your choices and decisions before investing a big chunk of your money.
Apps available for Android, iOS, and Windows users: Having dedicated apps for a crypto trading platform is always a good idea. They are usually faster, more efficient, and developed specifically for different platforms in order to provide premium compatibility without causing troubles. If you are a registered user of MEXC, you can access their apps for Android, iOS, and Windows devices. Almost all of the features are available on both of the platforms in order to provide a seamless experience without restrictions.
Copy Trading so you can copy the most successful investors: MEXC has a feature called Copy Trading, which allows users to automatically copy the exact trades of whoever they choose to follow. This is a great option for newcomers who are not yet experienced with trading, and need guidance. It is also very useful for those who know how to trade, but don't have the time to study the market and conduct technical analysis. As you can see in the screenshot below, you can browse the best investors by ROI, Total Profit and Loss, Win Rate, Total Equity, or Number of followers. You will definitely be able to find someone that you want to copy, and if your friend has copied a successful trader in the past, they can simply tell you the name and you can look for them in the Search field.
Several trading markets available: Not only does MEXC have a huge range of cryptocurrencies, but they also offer various markets that advanced crypto traders love. MEXC has spot trading, margin trading, and derivatives trading, which includes ETF indices, ETF margin trading, and futures trading. All of these options are available right in one place and can be accessed by any MEXC user. The best thing is that there are lots of trading pairs available, so you will definitely find something suitable for your needs. Traders can access the charts, evaluate the movements, apply common practices, implement their techniques, and then proceed with their orders.
Trade with up to 125x leverage: If you are particularly short on funds but want to have a strong exposure within the market, leverage trading would work best for you. Leverage trading simply allows the traders to borrow money from the platform they are using in order to open positions or deals. On MEXC, the leverage limit is 125x, which is very generous compared to most other crypto exchanges.
Please note that as beneficial it is, leverage trading also has a downside, and you can lose your funds very quickly if your open trades go the wrong way. We do not recommend leverage trading unless you are very experienced.
Super-fast and accurate charts: Slow and inaccurate charts can cause traders to lose money due to incorrect evaluation of the market. The good thing about MEXC is that their trading charts are among the fastest available, with accurate and precise movements. Not only that, they are designed in a way that they open quickly without annoying load times. You can select any trading pair or asset, and the trading chart will pop up within seconds for you to evaluate and customize.
It is also possible for traders to choose different timestamps of the charts, change the candles, select different main indices and sub-indices, expand the whole chart, and use other features too.
Staking available for several cryptocurrencies: Everyone loves the idea of passive income, and with MEXC, you can enjoy it too, through staking. You can take a look at the staking section to see which assets are available for staking and how much you can earn on them. There are flexible and locked staking options, and you will find popular cryptocurrencies such as BTC, ETH and DOT.
As for the earnings, the interest rate may vary depending on the market conditions and agreement. On some new coins, you can earn as much as 68% APY, which is an incredibly high rate. On most coins, your APY will be under 10%, which is still a good rate if you are holding a considerable amount.
Range of deposit and withdrawal methods: If we talk about the deposit methods offered by MEXC to its users, they have partnered up with different third-party merchants to offer variety to their users. Aside from the most popular payment methods like Visa, Mastercard and Bank Transfer, users also have the option to directly buy cryptocurrencies through Apple Pay or Google Pay. It is important to note that fiat payment options might vary depending on the country you are living in. As for cryptocurrency deposits, they are available for all users, no matter where you live.
Crypto withdrawals can be made directly through the MEXC platform. Fiat withdrawals are not supported, but you can use P2P trading in order to sell your crypto for fiat.
Premium help center with multilingual support: A business or enterprise will not be sustainable if they do not have satisfied customers. The same scenario can be applied to the crypto industry, or it may be even more crucial due to the complexity and features many users are yet to understand.
If we talk about the help center of MEXC, they have different communication modes available for their users to choose. You can go with their live chat option or simply open a ticket to get a reply. To top it off, their help center offers multilingual support so that users from different nations can easily access assistance.
Hassle-free platform with easy registration: The overall interface of MEXC is quite easy to use, and straightforward. There are no complications with the process of accessing your account, funds, or trading/investing activities. Every option is listed on the top menu of the website, and you can explore the available options.
If you are opening your account for the first time, you don’t have to go through a lengthy registration process. You only need your email address to verify your account, and you will be good to go. Once you deposit funds and start trading, you may have to submit some official documents for your own safety.
Several programs available for extra earnings: Staking is not the only option through which you can earn passively or enjoy other benefits on MEXC. They have other different programs too that can help you earn some extra dollars without doing much. For instance, there is an MX-Defi hub where you can connect to the pools and earn rewards. You can also win free air-drops through M-Day on MEXC. Users can also earn rewards through auctioning. Note that auctions are not always available, and you have to keep an eye on them to participate.
What I don't like about MEXC
MEXC is a great crypto exchange but it does comes with a few things that might not suit some users. The following are a few negatives of MEXC that you can keep in mind before proceeding.
Very limited cryptocurrencies available for quick buy: If you are in a rush and don't have time to place an order on the markets, the quick buy option is a blessing. However, on MEXC, there is a limited range of coins that you can access depending on your geographical region.
If you want to buy a coin that is not available on quick buy, you will first have to buy an available cryptocurrency from the quick buy section and then trade it for the one you want.
No fiat withdrawals available: As MEXC is a dedicated crypto trading platform, you won't be able to withdraw your fiat currencies from the exchange. If you wish to do so, you will have to transfer your crypto to another exchange that accepts fiat withdrawals in your country.
MEXC Deposit Fees
MEXC do not charge their users when depositing cryptocurrency into their account. Fiat deposits are not supported, but users can use fiat to directly purchase crypto. The fee will depend on what the third-party merchants decide to charge, but it will be around 3-5%. If you want to know the exact fee you have to pay, you can check it by selecting a particular fiat payment method.
MEXC Trading Fee
MEXC has a fixed spot trading fee of 0.2% for both makers and takers. For Futures trading, it is only 0.02% for makers and 0.06% for takers.
MEXC Fiat Withdrawal Fees
Fiat withdrawals are not supported on MEXC. However, if you have some crypto that you would like to directly sell for fiat currency, you can do so on the P2P (peer-to-peer) market. There is no fee for trading on there, and the price you receive for your cryptocurrency will depend on whether you find a willing buyer.
MEXC Crypto Withdrawal Fees
When it comes to withdrawing cryptocurrencies, MEXC charges a different fee for each asset. Some cryptocurrencies are free to withdraw, while others have a specified amount that you have to pay in order to withdraw them. There is a crypto withdrawal fee chart available on the MEXC fee page, which is where you can find the withdrawal fees for each coin.
Pros and Cons of MEXC
- Over 1,520+ cryptocurrencies available
- Several different trading markets
- Staking available on several cryptocurrencies
- Leverage trading up to 125x supported
- Mobile app for Android users
- Cannot withdraw fiat currency from MEXC
- Very limited number of cryptocurrencies available for quick buy
MEXC is a global crypto exchange offering its services to almost all major countries, including the USA. Due to the availability of over 1,520+ cryptocurrencies, MEXC attracts many traders and investors. With the user-friendly UI, MEXC also offers amateurs a great place to begin crypto trading.
Overall, MEXC can be a great choice for any trader who is interested in frequent trading with a huge range of coins, and low fees. If you are still deciding on a crypto trading platform, you can take a look at the best crypto exchanges here. I have also included a comparison table below.
Comparison Table of the Best Crypto Exchanges in the USA
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."
Frequently Asked Questions
MEXC is a safe and legit crypto exchange, and it has been in the market for a few years now. There have also been no breaches or security concerns in the past, making it even safer for their users.
Yes, MEXC is available for US users to use. If you are from the US, you can easily create an account and start trading or investing without any type of restrictions.
In terms of reliability, MEXC is pretty good due to the security steps they have taken. They also urge their users to use 2-factor authorization, anti-phishing codes, and phone numbers to protect their accounts even further.
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.