• Fri. Jul 19th, 2024

A Comprehensive Guide to MEXC: Everything You Need to Know About the Crypto Exchange

Louise Villalobos

ByLouise Villalobos

Feb 22, 2024
A Comprehensive Guide to MEXC: Everything You Need to Know About the Crypto Exchange

Despite the tough competition among cryptocurrency exchanges, MEXC is a standout, all thanks to its relatively low trading costs and dedication to educating people about blockchain technology and cryptocurrencies. This article focuses on MEXC. Read on to learn the features and services this top crypto exchange offers.

MEXC Explored

Established by John Chen, MEXC is a respected crypto exchange headquartered in Seychelles. It has a presence in over 160 countries and boasts close to 10 million active users. Besides its low trading fees, MEXC is known for processing a massive volume of transactions fast. Per data on the exchange’s website, the platform handles over 1.2 million transactions every second.

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Crypto Trading on the MEXC Exchange

MEXC currently lists approximately 1,850 tokens. It supports several trading pairs, the most popular being SOL/USDT, BTC/USDT and ETH/USDT. As a MEXC user, you can trade crypto in the spot and derivatives markets.

Does MEXC Have a Native Token?

Yes! MEXC has its exchange token called MX. Holding this digital currency comes with numerous benefits, such as free token airdrops, discounts on trading fees, and early access to new MEXC features.

MEXC’s Geographical Limitations

As stated earlier, MEXC operates in over 160 nations, including India, the United Kingdom, Brazil, Australia, and South Korea, to name a few. However, the crypto exchange has been blocked from operating in some countries, such as Canada, Cuba, Sudan, North Korea, the United States, Iran, and Singapore.

How to Set Up a MEXC Account

Step 1: Install the MEXC mobile app. It is supported by both Android and iOS devices.

Step 2: Next, enter your valid phone number or email and create a strong but memorable password. MEXC will give you access to your account immediately. Without verifying your identity, you will be able to withdraw up to 25 BTC daily.

Step 3: To remove the withdrawal limitation, you can complete the KYC checks. MEXC will need you to provide your identification document. The exchange will then verify the document within 24 hours.

Does MEXC Offer a Welcome Bonus?

Upon verifying your identity, you will receive 1000 USDT in futures trading bonuses, which are usually credited into your account in phases.

Supported Payment Methods

MEXC does not just support crypto deposits and withdrawals. Rather, the exchange lets users buy cryptocurrencies using their fiat balances via traditional payment methods like debit/credit cards, bank transfers, and Google Pay.

MEXC’s Features and Tools

Quick Cryptocurrency Purchasing Interface

As mentioned, MEXC supports the buying of cryptocurrencies with fiat. You can do so through the exchange’s peer-to-peer platform or simply by linking your debit/credit card with MEXC. The crypto trading platform supports a wide range of fiat currencies, including JPY, KRW, EUR, USD, and GBP. This makes it possible for MEXC users to buy crypto using their local currencies.

MEXC Mastercard

Do you wish to pay for shopping using your crypto balance? MEXC Mastercard has got you covered. So long as you shop at a store that accepts Mastercard, you can easily pay for goods with crypto if you are a MEXC user. Any verified user has access to the MEXC Mastercard.

A Comprehensive Trading Suite

The MEXC trading platform is one of a kind. It comes with multiple functionalities that allow both novice and experienced traders to conduct proper market analysis. Also, it supports various order types like stop limit, limit, and market.

MEXC Learn

As stated earlier, MEXC is committed to teaching people about digital currencies and blockchain technology, which is why it has a dedicated section for learning. As a beginner, it is recommended you read the beginner guides on the exchange before trading.

Crypto Staking

If you prefer investing to active trading, MEXC offers you an opportunity to earn passively by staking your cryptocurrencies. Some of the digital assets you can stake include USDT, USDC, Bitcoin, and Ethereum.

Is MEXC Safe?

MEXC is one of the few exchanges that prioritize user security. The platform adopts two-factor authentication and advanced encryption mechanisms.

Louise Villalobos

Louise Villalobos

Louise Villalobos is an adept writer, renowned for her compelling articles that illuminate and engage. Her prowess in breaking down intricate subjects provides readers with clarity and nuance. With a vast and varied portfolio, Louise has solidified her standing as a distinguished voice in contemporary journalism.