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What is MEXC?
MEXC Global is a cryptocurrency exchange that offers a variety of features including futures, spot and margin trading, ETF investing opportunities, cryptocurrency staking and more. It is headquartered in Singapore and is available to users in over 70 countries.
The cryptocurrency investing platform was founded in 2017 and has since grown to become one of the largest cryptocurrency exchanges in the world with over 7 million registered users.
Is MEXC Global legit?
Yes, MEXC Global is a legitimate and regulated cryptocurrency exchange and has obtained compliance licenses in Australia, Canada, and Switzerland. It has implemented a number of measures to ensure the safety of its users' funds, including 2-factor authentication, cold storage for all digital assets, and a strict KYC/AML policy.
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.
Does MEXC Global require KYC?
You do not have to KYC when you sign up to the MEXC Global exchange. However, if you want to open a trade or participate in referrals or competitions you will need to verify your identity.
MEXC Fees
Luckily for MEXC users, all deposits onto the platform are free of charge, however, withdrawals do require a fee to cover the gas (network transaction) fees. The withdrawal fees can be pretty high depending on what token you withdraw, for example, to withdraw USDT (Tether) you will have to pay a $20 USD fee.
For spot trading, the fees are competitively low at 0.2% and you get an additional 20% discount if you use MEXC’s native token MX to buy cryptocurrencies. As for futures trading, the Maker/Taker fee is 0.02/0.06% and this figure gets lower the higher your monthly trading volume is.
If you would like to see a full breakdown of MEXC Global fees, you can visit their Fee Schedule.
Supported Cryptocurrencies
One of the reasons for the exchange's popularity is the abundance of cryptocurrencies it offers. On MEXC you can invest in over 1,100 cryptocurrencies from stablecoins, altcoins, memecoins, DeFi coins, Metaverse coins and GameFi coins.
It frequently lists new tokens and offers a Launchpad feature to support new, emerging cryptocurrencies. You can find their full token list here.
MEXC Staking
There is a myriad of staking (earn) options available on the MEXC Global exchange. Unfortunately the yields (returns) are pretty low compared to other cryptocurrency exchanges like Bybit. The platform offers over 7 cryptocurrency staking features which are:
- Crypto Staking - Staking with flexible and fixed terms
- MX DeFi - DeFi Mining with high rewards
- Slot Auction - Polkadot and Kusama parachain auctions
- ETH 2.0 Staking - Ethereum 2.0 Staking
- Launchpad - This feature provides users with an exclusive, low-cost opportunity to invest early in project tokens with a pre-launch price
- M-Day - Receive rewards for holding MX and trading high volumes
- Kickstarter - This is a feature where users vote for a token during the pre-launch stage of a project and then receives airdrops tokens for free to all successful voting users
MEXC Global Mobile App
The MEXC Global app has a simple and intuitive interface that is easy to use for both beginners and experienced traders. It is available for Android and iOS devices. On the app store, it is rated 3.4 stars from 75 reviews and 4.1 stars from 17K reviews on the Google Play store.
Customer Support & Online Communities
MEXC Global has a large customer support team and online presence. The platform offers 24/7 live support via their live chat feature and on email. You can also reach them on Telegram, Discord, Youtube, Twitter, Facebook, Reddit, LinkedIn, Instagram, Medium & VK. MEXC unfortunately has a low rating on Trust Pilot with 2.5 stars and most the reviews are relating to the support team.
Is MEXC Global available in the USA?
Yes, US residents have access to the MEXC exchange, it was previously unavailable to US citizens but have since acquired the appropriate licensing to operate in the United States. The exchange is accessible in over 70 countries including Australia, Canada, Switzerland, Singapore and more.
Final Thoughts
In conclusion, MEXC Global stands out as a versatile cryptocurrency exchange, offering a vast array of over 1,100 cryptocurrencies, various staking options, and user-friendly features like copy trading and crypto ETFs. While KYC is not mandatory for account creation, it is required for certain activities.
With competitive fees, a solid mobile app, and licenses in multiple jurisdictions, MEXC has established itself as a legitimate and accessible platform for traders worldwide. However, it's important to consider the mixed customer reviews on support when choosing an exchange. Overall, MEXC Global presents a comprehensive and appealing option for both novice and experienced crypto traders.
