MEXC Review 2023 – Full overview of MEXC crypto exchange

Table of Contents

• MEXC Review
• MEXC Overview: What is MEXC?
• MEXC Alternatives
• MEXC Pros & Cons
• MEXC at a Glance
• MEXC Fees & Commissions
• Cryptocurrencies on MEXC
• MEXC Review: Conclusion
• FAQs

MEXC Overview

Looking for a state-of-the-art crypto trading platform that features cutting-edge security features, low fees, and support for over 1,500 different cryptocurrencies?

If so, you may want to set MEXC in your sights.

MEXC Global was launched in Victoria, Seychelles back in 2018. Since then, it’s rocketed into crypto industry prominence, attracting millions of users from all around the world (and establishing a headquarters in Singapore along the way).

Billing itself as the “exchange of high performance and mega transaction matching technology,” MEXC offers advanced features that are perfect for veterans and newcomers alike. Its team of 500+ employees has developed a platform that will do just about anything you could want from a crypto trading platform. And they continue to tweak it, adding features and streamlining processes on the regular.

If there’s one thing the team at MEXC knows, it’s DeFi. And they’re putting that knowledge 

to use for their customers’ sake. 

But that doesn’t mean they’re perfect. Few things are (including yours truly).

One of its biggest flaws is its inability to play nice with fiat currencies. That means no fiat withdrawals or deposits. Though depending on your goals, that may not be a huge hurdle.

Now that we’ve got the 30,000 ft view of MEXC, let’s take a little closer look at what it’s all about and whether it’s the right choice for your hard-earned coin.

MEXC Alternatives

Unless you’re a complete crypto newb, you know that trading platforms are a dime a dozen. That means MEXC has some competition.

As you weigh your options, keep the following alternatives to MEXC in mind:

Bybit

Like MEXC, Bybit was founded in 2018 during the early days of the crypto boom. And also like MEXC, Bybit has a heavy presence in Singapore. Plus, it’s a platform that offers many of the same advantages, including low fees, an intuitive UI, and top-tier security measures.

Unfortunately, Bybit is not currently available in the US. So, if you’re a US citizen, you’ll definitely want to go for MEXC instead. If you’re outside the US, on the other hand, Bybit may be an option worth considering since it’s comparable in most other ways.

Kucoin

Like Bybit, Kucoin isn’t available in the USA. If that’s a deal breaker for you, you’ll want to keep on scrolling down to our next alternative. But if you don’t mind this geographical restriction, Kucoin may be worth a look.

Kucoin has a lot to offer experienced traders. It features low fees, a broad range of supported coins, and the ability to earn interest on crypto. Plus, it’s packed with advanced features. But that does come with a cost. Namely, it’s not particularly friendly for novices.

Binance

Unless this is the first piece of crypto content you’re reading, then there’s no doubt you’ve heard of Binance. It’s only one of the most popular crypto trading platforms out there. And there are good reasons for that reputation: it features lots of trading options, low fees, and support for the top cryptocurrencies.

Unlike Kucoin and Bybit, Binance has a US option (albeit one with some limits). In addition, its platform can be a bit like navigating a maze for newer traders so it may not be best choice if this is your first crypto rodeo.

MEXC Pros & Cons

If you’re hoping to find the perfect crypto trading platform, stop looking. You’re not going to find it.

But if you’re willing to accept a solid platform with a few drawbacks, MEXC may offer a solution. Here’s the long and short of MEXC’s pros and cons.

MEXC at a Glance

MEXC Fees & Commissions

It’s a truth universally acknowledged that high fees and commissions suck. Fortunately for MEXC users, they don’t have to worry about them. Why? Because MEXC’s fees are low.

MEXC charges absolutely nothing for maker orders on the spot market. And you’ll only pay 0.2% for taker orders. And if you’re holding MX tokens, you’ll get an additional 20% knocked off that. Play your cards right and you’ll only have to pay 0.16% for taker fees on the spot market. This makes it one of the most affordable trading platforms out there, even competitive with Binance.

If you’re looking to trade futures, you’ll pay 0.02% for maker orders and 0.06% for taker orders. As with spot trades, holding MX tokens will net you a tidy discount, though it’s only 10% for futures rather than the 20% for spot trades.

Overall, MEXC is a great choice if your primary goal is finding the most affordable fees.

Cryptocurrencies on MEXC

Every time a bell rings, a new cryptocurrency hits the market. Or at least that’s the way it can feel. Fortunately for MEXC users, MEXC gives them access to just about all of them. 

Currently, the exchange supports a little over 1,500 different crypto assets and over 2,500 trading pairs. This includes everything from Bitcoin and Ethereum to Cardano, Tether, and much more. While you’ll have to spend some time browsing the full list on their site if you’re hoping to trade something really obscure, you can see some of the top assets below:

• MX Token (MX)
• Bitcoin (BTC)
• Ethereum (ETH)
• Eos (EOS)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• Ontology (ONT)
• Tron (TRX)
• Ripple (XRP)
• Bitcoin SV (BSV)
• Ethereum Classic (ETC)
• Dogecoin (DOGE)
• Cardano (ADA)
• Dash (DASH)
• Neo (NEO)
• Chainlink (LINK)
• Quantum (QTUM)
• Polkadot (DOT)
• VeChain (VET)
• Stellar (XLM)

MEXC Review: Conclusion

Let’s put it simply. MEXC is a solid platform that offers more than enough advantages to choose it over the competition. It features a massive number of supported crypto assets you can trade. It’s got some of the lowest fees on the market. It enjoys deep liquidity and volume. And it’s got the kind of features that expert traders would kill for.

But it’s not crypto trading paradise. There are drawbacks. It’s a platform that doesn’t support fiat currency withdrawals and there are no global financial organizations regulating it. If those are dealbreakers for you, then you’ll want to look elsewhere for your crypto trading needs. But if you can handle those cons, there are enough pros to keep you trading all day and night (or at least until your disposable income is all tied up).

Visit MEXC Global’s website today to get started investing with the platform.

FAQs about MEXC

Is MEXC Exchange safe?

That all depends on what you mean by safe. In the world of investing (especially investing of the crypto variety), nothing is truly safe. If you’re looking for safe, stick your cash under your mattress.

But if by safe, you mean that your crypto assets will be secure, then yes. MEXC Exchange is safe. After all, it’s a platform that secures your personal data and funds with two-factor authentication, address whitelisting, anti-phishing measures, and advanced password protection. It also uses a state-of-the-art cold storage wallet for funds on the platform.

While MEXC makes use of fairly standard security measures, they must be working. As of the writing of this article, the platform has not experienced any successful hacking attempt.

So, as far as crypto trading platforms go, you can consider MEXC Exchange as safe a place as any for your coins.

Is MEXC Exchange legit?

Yes. MEXC has a license to operate in five countries, including the USA. And they’ve been legitimately doing so for the past five years.

As of this article’s publication, there have been no major red flags or issues with this platform. And unlike some platforms out there (I’m looking at you, FTX), MEXC’s CEO hasn’t gotten caught with his pants down. 

Can I use MEXC without KYC?

No. Anti-money laundering regulations require KYC for all MEXC users. That means you’ll need to upload a copy of your driver’s license, passport, or other government-issued ID card, as well as undergo a facial verification process. You’ve got to prove who you are before you start trading.

What rank is MEXC?

MEXC Global is one of the world’s leading crypto asset trading platforms, ranking in the top 20 exchanges globally.

What countries can use MEXC Global?

MEXC Global is currently open for business for customers from almost all major countries, including the US.