Let’s Learn About MEXC: A Bitcoin Litecoin, All In One Station
by Soumava Goswami Money 14 August 2023
MEXC is a cryptocurrency trading platform that started in 2018 and has recently caught the attention of many crypto traders in the world as it removed trading fees. This is a registered exchange from Singapore and was earlier named MXC. The current name started in 2021. The currency market cap of MEXC is approximately US $1.26 billion (as of July 2023).
In this article, you will mainly learn about the MEXC cryptocurrency platform and find out whether it is a legit platform or not. Furthermore, we will also learn about the trading fees of MEXC and what the platform claim to offer. Finally, we will also explore some of the major features of MEXC that make it a unique cryptocurrency. Hence, to find out more, read on through to the end of the article.
What Is MEXC?
MEXC is a high-performance trading platform that started in 2018 and has a range of 1520 coins. Furthermore, currently, the platform also does not have any trading fees, and you will not need to do KYC to start trading on the platform. The platform comes with a variety of useful tools and features that lets you start trading right away.
According to the official claims of MEXC, “Currently, MEXC caters to more than 10 million users in more than 170 countries and regions around the world and we have just started. This magnificent achievement is a significant milestone, and MEXC aims to become the go-to platform for new traders and experienced investors as they move forward in their financial journey.”
Apart from that, the MEXC platform also offers you a big selection of services related to cryptocurrency, including crypto staking, crypto ETFs, copy trading, and more. There are many more features available with the platform, which consists of futures and margin trading. However, it does not offer spot trading. Since 2018, this cryptocurrency exchange has grown to be one of the largest platforms and has more than 7 million registered users.
Is MEXC A Legit Cryptocurrency Platform?
Yes, the MEXC platform is legit and has licenses in major countries. Furthermore, the platform has also taken a variety of measures in recent times to ensure that the funds of the users are safe and go to the right place.
According to BuyBitcoinBank.com, “MEXC Global is also one of the few exchanges that are compliant with both GDPR and Fincen regulations. The platform is available across multiple countries and has obtained key licenses, and is passing jurisdictions in countries like Australia, Estonia, and the United States.”
In addition to that, there is a 2-factor authentication process and a quality KYC policy as well. There is also cold storage available for digital assets like cryptocurrencies.
What Are The Trading Fees Of MEXC?
One of the best things about the MEXC platform is that if you want to make a deposit into the platform, you will not need to pay fees for it. However, there is a small amount of trading fees you need to pay if you want withdrawals. Furthermore, the fees of withdrawal can change depending on the crypto token you want to withdraw.
Here, CoinCulture.com explains – “MEXC has partnered with various third-party merchants to offer its customers diverse deposit options. Besides the most common payment methods, such as Visa, Mastercard, and Bank Transfer, you can use Apple Pay or Google Pay to purchase cryptocurrencies directly.”
What Are The Features Of MEXC?
The following are some of the major features of the MEXC platform from which you can benefit a lot:
- The user interface of MEXC is really simple, and it is easy to find what you want. You do not need to be an expert to understand the platform.
- There are plenty of trading options like Margin trading, Spot Grid Trading, Leveraged ETFs, P2P Trading, and more.
- There are different order types available, and many earning options are provided on the platform.
- The mobile app of MEXC is available with both Android and iPhone, and the app works great and consists of most of the essential features, like the desktop version.
Major Pros And Cons Of MEXC
The following are some of the major pros and cons of the MEXC trading platform, which you need to be aware of:
Pros Of MEXC
Here are the pros of MEXC from which you are likely to benefit:
- Supports most types of cryptocurrency assets. It also supports DeFI coins.
- It has a really good and user-friendly interface, which makes it easy for you to trade. It also has a fully functional mobile app so that you can trade on the go.
- There are a large variety of trading products and order types, and it also consists of earning options.
- It is one of the select-few trading exchanges that offers exchange-traded funds to traders.
- It is fully legit and has compliance certificates in Canada, Australia, the United States, and Estonia.
- The customer support is really friendly and tries to resolve any problem fast.
- The website has many blogs and educational articles from which you can get guidance on how to trade for cryptocurrencies.
Cons Of MEXC
Here are some of the major cons of MEXC, which you must know before you start trading on the platform:
- There is no support for Fiat withdrawals. Hence, you will be required to cash out if you transfer to another exchange.
- In some countries, cryptocurrency is not very popular and is also banned in some countries.
- The quick-buy option is limited in the platform, and it changes depending on the region from where you are trading.
Although, like every cryptocurrency trading platform, MEXC has its pros and cons, it still cannot be denied it is one of the fastest-growing cryptocurrency trading platforms. If you are a citizen of the United States, you can easily trade on the MEXC platform. The best thing about the MEXC platform is that there are no trading fees required, and no KYC is required as well if you want to start trading.
These are some of the major factors that make the MEXC platform popular. What do you think is the best thing about this platform? Share your opinions about this platform in the comments section below.