MEXC has rapidly gained recognition and popularity among the crypto community. So, what does it offer its users? This comprehensive MEXC review explores the platform’s diverse trading features and services, including trading pairs, liquidity, and the user-friendly MEXC app.

We will also analyze MEXC’s fee structure, availability, and robust security protocols, ensuring you know exactly what you’ll sign up for.

Key Takeaways

  • MEXC is a cryptocurrency exchange that offers margin trading with leverage, allowing users to amplify their trading potential.
  • While MEXC has implemented security measures, including KYC requirements for certain activities, it has experienced security breaches in the past. Users should exercise caution and stay informed about the platform’s security practices.
  • MEXC restricts its services in several countries, including but not limited to North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Singapore, Venezuela, the United States, and Canada. This list, known as “Prohibited Countries,” is subject to change based on legal and compliance considerations.
  • MEXC does not require KYC for all users, but KYC is necessary for activities such as withdrawing more than 5 BTC per day or engaging in certain financial products like margin trading and futures trading. The KYC process involves providing personal details and a government-issued ID. Without completing KYC, users may have limitations on withdrawals and specific trading features.

What Is MEXC?

Mexc Users Reached 10 Millions

MEXC, short for MEXC Global, is one of the largest exchanges in the world, with a user base exceeding 10 million worldwide. 

The exchange is headquartered in Singapore and prides itself on providing a comprehensive suite of products and services tailored to meet the diverse needs of its users. As a centralized exchange, it offers a user-friendly platform for trading a wide selection of cryptocurrencies.

FeatureDescription
OverviewMEXC is a prominent centralized cryptocurrency exchange based in Singapore.
Key FeaturesSpot trading
Margin trading
Leveraged
Staking program
Launchpad for IEOs
Spot TradingSupports all supported currencies and is accessible through web and mobile app
Margin TradingOffers leverage up to 200x on futures contracts
Staking ProgramFlexible staking options with daily rewards
Launchpad for IEOsEarly access to promising cryptocurrency projects. Requires MX token holdings for participation
FeesSpot Trading Fees: 0% makers fee, 0.0% takers fees
Futures Trading Fees: 0% makers fee, 0.01% takers fees
Accessibility RestrictionsRestricted access in certain countries, including the United States
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User Score

9.2

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Read more: Gate.io’s Airdrop Program: First 100 Members Get 20 USDT on Coinwire

Pros and Cons

As with any crypto exchange, MEXC has its strengths and weaknesses. Here’s a breakdown of its pros and cons to help you make an informed decision:

Pros:

  • MEXC boasts an extensive selection of over 1,100 cryptocurrencies
  • The MEXC exchange is known for its competitive fee structure, which often positively impacts crypto trading profitability.
  • MEXC’s launchpad is a notable advantage, granting users early access to Initial Exchange Offerings (IEOs) of emerging cryptocurrency projects. This feature lets you invest in promising ventures early, potentially reaping impressive rewards.
  • Staking on MEXC gives rewards on a variety of cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Staking allows users to earn rewards while supporting the underlying blockchain networks.
  • MEXC’s trading interface is designed with user-friendliness in mind. This intuitive interface streamlines the crypto trading experience and reduces the learning curve for newcomers.

Cons:

  • MEXC exchange reviews indicate one notable drawback for this platform’s customer support, which may be less effective than other exchanges. 
  • Security concerns are also another setback because MEXC has experienced security breaches in the past. However, the exchange has taken measures to secure crypto assets and prevent future breaches.
  • MEXC is inaccessible in some countries, including the United States. This limitation could be a significant factor for individuals residing in restricted regions.

Is MEXC Global Safe and Legit?

Yes, MEXC is safe. The exchange has made efforts to establish itself as a reputable and secure platform within the cryptocurrency ecosystem. However, you have to always keep in mind that centralized exchanges can still get shut down. So you should always keep a portion of your assets in a digital wallet like Metamask or Trustwallet.

MEXC has implemented various cutting-edge security features to safeguard users’ funds and data. These measures include two-factor authentication (2FA) for account access, a sophisticated cold storage wallet system to prevent unauthorized access, and regular security audits and assessments from a financial regulator.

If you are new to MEXC, enter this MEXC referral code to receive a 10% discount off all their trading fees and get up to 1000 USDT reward as a signup bonus

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User Score

9.2

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-10% Trading Fees

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MEXC Review: Key Features

MEXC Global exchange stands out in the crypto industry due to its distinctive features. The platform’s traits are designed to cater to a broad spectrum of cryptocurrency investment needs. 

Here, we delve into five key elements that make MEXC a standout exchange.

Spot Trading

Spot Trading 1

MEXC’s spot trading is an ideal starting point for many crypto traders. This investment method allows traders to buy and sell crypto at the prevailing market rates. 

When it comes to spot trading, MEXC Global supports a range of cryptocurrencies, including popular options such as:

Whether you’re accessing it through the web platform or Android and iOS devices, spot trading on MEXC Global exchange offers accessibility and simplicity. 

Margin Trading

Mexc Allows 200X Leverage Trading

For experienced traders looking to amplify their trading capabilities, MEXC’s margin trade offers an avenue for credit trading. Users can borrow funds from the exchange to increase their trading potential.

MEXC provides leverage options of up to 200x on futures contracts, with varying margin requirements based on the cryptocurrency and leverage amount.

Additionally, users must be mindful of margin calls, which prompt the need for additional funds in the event of a margin account shortfall.

Staking

Mexc Staking

MEXC also offers a rewarding staking program that allows users to earn attractive yields on their digital assets. 

With a flexible and user-friendly approach, MEXC’s DeFi staking section provides an accessible way to grow your crypto holdings. 

Here’s a breakdown of the top five staking opportunities available.

CryptocurrencyMinimum Stake PeriodEstimated APYMinimum Stake Amount
USDC1 day (flexible)8.00%1 USDC
USDT1 day (flexible)2.80%1 USDT
BTC1 day (flexible)1.68%0.0001 BTC
ETH1 day (flexible)2.08%0.001 ETH
stETH1 day (flexible)6.80%0.001 stETH

The staking format on the MEXC exchange operates on a first-come, first-served basis, ensuring users have equal opportunities to participate. 

Rewards are distributed daily, and MEXC provides flexibility by allowing users to unstake and redeem their crypto assets at any time after reaching the minimum stake period.

Start staking on MEXC now: https://coinwire.com/go/mexc-review/

MEXC Launchpad

Mexc Launchpad

MEXC’s launchpad provides a unique opportunity for users to participate in Initial Exchange Offerings (IEOs) of new cryptocurrency projects. 

These IEOs enable new projects to secure funding from the public, and MEXC’s Launchpad gives users early access to these ventures. 

To participate, users need to hold a specified amount of MEXC’s native token, MX. The required MX amount varies depending on the project. Users can commit their MX to the chosen IEO, and the more they commit, the more tokens they receive. 

Due to rigorous project selection, MEXC’s launchpad offers benefits like early access to promising projects, high-demand IEOs, and lower investment risks.

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User Score

9.2

Promotion

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Does MEXC Global Require KYC?

Does Mexc Require Kyc

MEXC recognizes the importance of Know Your Customer (KYC) procedures while also respecting the privacy of its users. The exchange operates with a tiered KYC system where not all users are required to complete the primary KYC verification. 

However, for users who wish to withdraw more than 5 BTC per day and those interested in trading certain financial products, including futures and margin trades, completing KYC is mandatory.

Fortunately, the KYC verification process on MEXC is relatively straightforward and designed to ensure a smooth user experience. 

Users only need to submit their name, date of birth, country of residence, mobile number, and government-issued ID to be verified.

Related: How to create your MEXC account

MEXC Exchange Fees

Mexc Trading Fees

When managing your cryptocurrency assets on MEXC, it’s essential to understand the fees and limits associated with deposits, withdrawals, and trading.

MEXC Deposit Fees

MEXC Global does not typically impose deposit fees for most cryptocurrencies. However, it’s crucial to keep in mind that there might be fees associated with third-party payment methods, such as credit card fees, depending on your chosen method.

MEXC Withdrawal Fees

Withdrawal fees on the MEXC exchange vary depending on the specific cryptocurrency you’re withdrawing. For instance, the withdrawal fee for Bitcoin (BTC) is set at 0.0005 BTC. These fees help cover the network costs associated with processing your withdrawals efficiently.

MEXC Trading Fees

MEXC Global stands out in the cryptocurrency market with its competitive and attractive trading fee structure. Here’s a breakdown of the transaction costs on MEXC:

  • Fees on Spot Trading: MEXC offers a fee structure that benefits both makers and takers. Makers who provide liquidity to the market by placing limit orders enjoy a fee of 0%. 

Takers who execute market orders and consume liquidity also benefit from a 0% fee. This affordable trading fee is highly advantageous for traders, as it minimizes the cost of executing trades on the platform.

  • Fees on Futures: MEXC’s futures also charge low trading fees. Makers in the futures market, who contribute to order book depth, pay no maker fees. 

Takers who execute trades that match existing orders incur a competitive taker fee of 0.01%. This fee structure ensures that traders can engage in futures with cost efficiency.

MEXC Deposit and Withdrawal Limits

The limits for deposits and withdrawals on MEXC can vary depending on your account’s verification level. Unverified accounts, for example, have a daily withdrawal limit set at 5 BTC. 

In contrast, verified accounts enjoy a more substantial daily withdrawal limit, capped at 50 BTC. Verification levels play a pivotal role in determining the extent to which you can manage your assets on the platform.

MEXC Deposit and Withdrawal Methods

MEXC facilitates a diverse range of deposit and withdrawal methods to accommodate the preferences of its users:

  • Cryptocurrency Deposits and Withdrawals: MEXC supports deposits and withdrawals of over 1,000 cryptocurrencies, granting users extensive options to manage digital assets efficiently. 
  • Fiat Withdrawals and Deposits: In addition to cryptocurrency transactions, MEXC also caters to fiat withdrawals and deposits through third-party payment processors. You can fund your account using multiple payment methods, such as debit cards, credit cards, or bank transfers.

Related: How to Withdraw Money from MEXC to Bank Account in 2023 

Supported Countries

MEXC takes a proactive approach to regulatory compliance, so certain countries are restricted from accessing its services. 

As of the current policy, MEXC does not offer its services or accept user registrations or trade applications from residents of the following countries:

  • North Korea
  • Cuba
  • Sudan
  • Syria
  • Iran
  • Crimea
  • Mainland China
  • Indonesia
  • Singapore
  • Venezuela
  • The United States
  • Canada
Mexc Prohibited Countries

Collectively, these MEXC-restricted countries are referred to as “Prohibited Countries.” It’s important to note that this list of Prohibited Countries is not exhaustive and may be subject to change. 

Note that: MEXC retains the absolute discretion to modify this list at any time and for any reason, taking into account legal and compliance considerations.

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User Score

9.2

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-10% Trading Fees

Claim 1,000 USDT Future Bonus

Related: Canada Changes Cryptocurrency Regulations: What’s At Stake

How Does MEXC Compare to Other Exchanges?

Mexc The First User Friendly Crypto Service Provider

MEXC is undoubtedly a robust cryptocurrency trading platform. However, it’s essential to acknowledge that the crypto exchange landscape is highly competitive, with several prominent players like Binance, Coinbase, Huobi, and KuCoin. 

In this comparative analysis, we’ll examine how MEXC stacks up against these key competitors in various aspects.

FeatureMEXCBinanceHuobiCoinbaseKuCoin
Fiat Currency Trading Options100+ coins150+ fiat pairsOver 100Over 40Over 100
Liquidity$1.5 billion$5.2 billion$2.5 billion$2.5 billion$1.8 billion
Margin TradesUp to 100xUp to 125xUp to 5xUp to 3xUp to 5x

Binance vs MEXC

MEXC and Binance offer a broad spectrum of products and services to cater to the diverse needs of the crypto community. Here’s a comparative analysis of the two exchanges.

  • Fiat Trading Options: Binance excels at providing a wide range of fiat trading options. It supports at least 150 fiat currencies, offering users the convenience of buying and selling several cryptocurrencies with their local currencies. 

On the other hand, MEXC supports at least 100 coins. This extensive fiat support makes Binance more viable than MEXC for users looking for seamless fiat-to-crypto transactions.

  • Liquidity: Binance boasts one of the highest trade volumes in the cryptocurrency industry. The platform’s 24-hour trading volume at the time of writing was about $5.2 billion. 

MEXC also has an impressive $1.5 billion 24-hour trading volume, which is lower than Binance. This makes Binance more attractive for traders who want to execute a large number of orders with minimal price slippage.

Related: OKX vs Binance: Which Crypto Exchange is Better in 2023? 

Huobi vs. MEXC

MEXC and Huobi are popular players, each with distinct characteristics and strengths. Here, we provide a comparative overview of these exchanges, highlighting their fundamental differences.

  • Liquidity: MEXC has steadily grown in popularity and liquidity but may not match the trade volume of larger exchanges like Huobi.  

While Huobi has a $2.5 billion 24-hour trading volume, MEXC has only $1.5 billion.

  • Fiat Currency Trading: MEXC primarily focuses on cryptocurrency-to-cryptocurrency trading pairs and may have limited options for direct fiat currency trading. 

However, Huobi offers a more extensive range of fiat trading options. It allows users to trade cryptocurrencies against various fiat currencies, enhancing accessibility for traders who prefer to use their local currencies.

Check out our latest guide: MEXC vs Bitget: Which Crypto Exchange Is Better?

Coinbase vs. MEXC

MEXC exchange and Coinbase have their own unique features and focus. Let’s explore the most distinct differences between these platforms.

  • Margin Trades: MEXC Global exchange offers margin trading leverage up to 100x on several cryptocurrencies. 

However, the maximum leverage depends on the cryptocurrency and the user’s trading experience. Coinbase, on the other hand, offers margin trade leverage of up to 3x on certain cryptocurrencies.

  • Futures Trading: MEXC exchange extends its offerings to include futures trading. Futures contracts enable users to speculate on the future price of cryptocurrencies without owning the underlying crypto assets. 

Coinbase does not currently offer futures. It emphasizes providing accessible and secure cryptocurrency investment options for a broad audience.

Related: Coinbase Referral Code 2023: SUCCESS [$10 BTC SignUp Bonus] 

Kucoin vs. MEXC

MEXC and KuCoin each have their own set of features and offerings. Here, we provide the key differences between these exchanges.

  • Margin Trading: MEXC’s margin trading has a leverage of up to 100x. This high level of leverage provides experienced traders with the potential for amplified profits but also entails higher risk due to the possibility of significant losses exceeding the initial investment. 

KuCoin also offers margin trading with a maximum leverage of up to 5x. 

  • Cryptocurrency Staking Rewards: MEXC and KuCoin offer cryptocurrency staking rewards to incentivize users to participate in network security and governance. Here’s a comparison of staking rewards for select cryptocurrencies on both platforms.
CryptocurrencyMEXC Exchange Staking Reward (APY)KuCoin Staking Reward (APY)
BTC7%6%
ETH6%5%
ADA (Cardano)7%6%
SOL (Solana)8%7%
LUNA (Terra)10%9%

Related: MEXC vs Kucoin: Which Crypto Exchange is Better in 2023? 

Conclusion

MEXC exchange presents an intriguing option for cryptocurrency enthusiasts and investors. Its wide range of supported cryptocurrencies, competitive fee structure, and staking rewards make it a platform worth considering. 

However, potential users should be aware of its limitations, including concerns about customer support and past security incidents. As with any crypto exchange, conducting thorough research and considering your specific needs and preferences is essential before deciding if MEXC is the great choice for your investment journey.

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FAQs

Is MEXC Available in the US?

As of the current policy, the United States is not one of the countries MEXC supports. U.S. residents cannot access the MEXC exchange. 

Additionally, MEXC does not provide its services to residents of other restricted countries, including but not limited to North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Singapore, and Venezuela. 

These restrictions are in place to ensure regulatory compliance and legal adherence. It’s important to note that this list of restricted countries may be subject to change, as MEXC retains the discretion to modify it at any time, taking into account legal and compliance considerations.

Where is MEXC Exchange Located?

MEXC Global is a Singapore-based crypto exchange. It has gained recognition on a global scale and has a user base exceeding 10 million individuals worldwide.

Is MEXC Better Than Binance?

MEXC and Binance are two prominent cryptocurrency exchanges, each with its own set of features and offerings. While MEXC provides advantages like a wide selection of cryptocurrencies, competitive fees, a launchpad for Initial Exchange Offerings (IEOs), staking options, and a user-friendly interface, Binance excels in providing a wide range of fiat currency trading options and boasts higher liquidity due to its larger trading volume. The choice between MEXC and Binance ultimately depends on individual preferences and trading needs.

What is the Minimum Withdrawal from MEXC Crypto Exchange?

The minimum withdrawal amount on MEXC Exchange can vary based on your account’s verification level and the crypto assets you wish to withdraw. Unverified accounts, for example, have a daily withdrawal limit set at 5 BTC, while verified accounts enjoy a higher limit of 50 BTC. 

The exact minimum withdrawal amount for a particular cryptocurrency can be checked on the MEXC platform based on your account status and the cryptocurrency in question.

Is MEXC A Good Exchange?

Yes, MEXC is a very decent exchange. Established in 2018, MEXC is known as the exchange of high-performance and mega transaction matching technology that can handle 1.4 million transactions per second. The exchange now serves over 10 Million users from more than 170 countries around the world. In the 2021 Crypto Expo Dubai event, MEXC was awarded the “Best Crypto Exchange Asia” award.

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User Score

9.2

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