Mexc GlobalMexc Global cryptocurrency exchange review
Mexc Global is a Singapore based cryptocurrency exchange that was named the Best Crypto Exchange in Asia. What does Mexc exchange offer? How high are Mexc fees? This Mexc exchange review should give you a good overview of all of it.
MEXC Global exchange details
|Exchange||Payments & fees||Account|
|Exchange name||MEXC Global||Payment options||Crypto, Credit Card, Bank Transfer||KYC||KYC not required|
|Website||mexc.com||Fiat deposits||no||Accepted countries||Mexc Global accepts traders from most countries.|
|Established||2018||Min deposit||0.01 USDT||Restricted countries||North Korea, Cuba, Sudan, Syria, Iran, Yemen, Zimbabwe, Myanmar, Lebanon, Libya, Bolivia, Ecuador, Bangladesh, Somalia, Iraq, Congo Democratic Republic (Golden), Central African Republic, Kyrgyzstan, Burundi, Afghanistan, Macedonia, Ethiopia, Guinea-Bissau, Guinea, Liberia, Trinidad and Tobago, Venezuela, Serbia, Crimea, Mainland China, Singapore, Italy, Canada.|
|Nr. of active accounts||6 million||Min withdrawal||Min withdrawal depends on the currency||Mobile app||Yes|
|License||Estonia, US, Switzerland and Australia||Fees||Base trading fee 0.2%||Features||Spot trading, Futures Trading, Leveraged ETFs, Earn|
Mexc Global review
Mexc Exchange is fairly new Singapore-based cryptocurrency exchange launched in 2018.
Mexc is not the biggest exchange, but it’s among the world’s top 100 leading exchanges (currently 64th based on the trading volume), and it is especially popular in Asia.
According the data from Mexc crypto exchange itself, they have more than 7 million users from more than 70 different countries.
In 2021 Mexc was awarded the title Best Crypto Exchange in Asia at the Crypto Expo Dubai.
They claim to complete 1.4 million transactions per second and their 24h trading volume is over 1 billion dollars.
Mexc Global safety and regulation
According to the exchange’s own statement, Mexc exchange has a license from Estonian regulatory agency as well as from U.S. regulatory agency FinCEN. They have also obtained license from Canada, Switzerland and Australia.
And it’s currently a cryptocurrency exchange with close to most global compliance licenses in the world.
Is Mexc Global safe to use?
Mexc Global have strict security protocols in place to ensure traders safety and also security of their assets.
Mexc has both hot storage wallet and cold storage wallet and their cold storage wallet keeps around $500 million in assets.
According to our information, Mexc has never had any major security related issues.
The exchange has currently more than 7 million registered users.
Of course, MEXC exchange has received enough negative feedback as well – but that is the case with pretty much every crypto exchange and all such Mexc Global reviews should be taken with a grain of salt.
Mexc Account security options
Mexc has multiple security options in place to keep your Mexc exchange account safe.
When logging in, after submitting your username and password, you need to submit either email or phone verification code.
Additionally you can set up your Google Authenticator for 2FA. This will be needed for withdrawing funds.
And to make sure your account is safe, you are also recommended to set up an anti phishing code to protect you against phishing attacks.
Which countries are supported by Mexc Global?
Mexc Global accepts traders from around the world. With only a few exceptions.
Countries where Mexc Global is banned
Mexc Global is currently not available for users from the following countries:
North Korea, Cuba, Sudan, Syria, Iran, Yemen, Zimbabwe, Myanmar, Lebanon, Libya, Bolivia, Ecuador, Bangladesh, Somalia, Iraq, Congo Democratic Republic (Golden), Central African Republic, Kyrgyzstan, Burundi, Afghanistan, Macedonia, Ethiopia, Guinea-Bissau, Guinea, Liberia, Trinidad and Tobago, Venezuela, Serbia, Crimea, Mainland China, Singapore, Italy, Canada.
Mexc Global exchange details
Year established: 2018
Number of Cryptos: 600+
CEO: John Chen Ju
Number of accounts: 6 million
Mexc exchange native token – MX Token
Mexc Global has its own crypto token called MXToken (MX). MX is a digital asset based on Ethereum. Mexc token maximum supply is 1 billion.
MX token can be used on Mexc exchange to reduce your trading fees, for special benefits, for voting in the Assessment Zone and more.
Here’s a slightly better overview of how MX token can be used:
- Trading fee reduction (holding MX tokens gives you 20% trading fee reduction in Mexc)
- Subscription to SpaceM (Mexc financial products that gives access to project launches for MX token holders)
- Referral rewards (holding certain amount of MX tokens can increase your referral rewards)
- M-Day event (holders of MX tokens can win free airdrops)
Deposits & withdrawals on Mexc Global platform
Mexc Global is mainly a crypto-only exchange. This means that you can not deposit fiat to Mexc.
However, in addition to crypto deposits, it is actually possible to buy crypto using fiat.
Meaning, you can’t deposit fiat, but you can use fiat money on your bank account or credit card to directly buy cryptocurrencies.
How to deposit money to your Mexc exchange account?
If you want to deposit crypto, click on „Wallet” button in the top-right corner.
- Then choose “Overview”
- Click “Deposit”
- Choose the crypto you want to deposit
- Choose the right network
- Copy & Paste the crypto address and make the deposit from wherever you’re depositing from
If you want to buy cryptos with fiat money, do the following:
- From the top menu choose „Buy crypto”
- Choose the payment method and follow the instructions
- You can choose either credit card, bank transfer, P2P orThird-party deposit option
- Please note that in order to use any of these options you need to verify your identity first
How to withdraw money from your Mexc Global account?
Withdrawing money from Mexc Global is simple enough.
- After you’re logged in, click “Wallet” → Overview
- Click “Withdraw”
- Choose the currency you want to withdraw
- Enter the correct Address, Network, and amount you want to withdraw
- Press Submit
MEXC has a low 0.2% transaction fee. And it’s the same for Maker and Taker.
Based on your trading volume and other nuances the trading fee can be lowered.
Mexc exchange crypto deposits are free, as in all other exchanges.
However, the fees related to direct buy option when using your bank account or credit card to buy cryptos can vary from 1% to 15%.
Mexc withdrawal fee depends on the coin you want to withdraw.
Each crypto has it’s own minimum withdrawal amount. See Mexc minimum withdrawal amounts below:
Each of the cryptos also has their own withdrawal fee.
To see Mexc withdrawal fees for all other cryptos, go here.
The base spot trading fee is 0.2% (same for Maker % Taker). But if you Pay for fees with MX token, you can get 20 % off trading fees.
Mexc Futures trading fees are 0.02% and 0.06% accordingly. And these fees can be lowered based on your trading volume.
Creating Mexc account
How to create MXC exchange account? Note that Mexc exchange used to be MXC exchange, just to make sure you’re not getting confused.
Registering MEXC account takes less than a minutes, especially considering KYC verification is not mandatory.
- Click here to start the signup process
- Choose whether you want to sign up by phone or email
- Choose username and password
- Enter your phone number and email address
- Press the “Send now” button the receive verification code either to your phone or email
- Enter it
- Press “Sign up” and you’re done!
Mexc Global KYC
After signing up with Mexc Global you will be able to withdraw up to 20 BTC a day without KYC. But if you want to increase this limit, you will need to go through the identity verification process.
Do you have to verify your account on Mexc Global?
No. In that sense Mexc is a no KYC cryptocurrency exchange. Especially considering limits without KYC are still high enough for most people.
How to verify your Mexc account?
In order to verify your account, you will need to provide Mexc your:
- Full name
- Proof of address
- Date of birth
- Copy of your passport or ID card
- Selfie with your identity document
- Your contact information
Why and when should you verify your Mexc Global account?
Identity verification makes your account more secure. Imagine losing your login credentials or anything else like that and being unable to log in no matter how much you try. In these cases it would probably be possible to restore access to your account based on your verified identity.
So it’s probably a good idea to go through the KYC process whenever you decide to start trading more in Mexc.
Does Mexc have its own trading app that could be used using your smartphone? The answer is yes.
Mexc mobile app is available for Android, iOS, and even Windows.
Mexc Global Earn
Now let’s see what type of earning options does Mexc Global offer.
All in one, Mexc Earn section is pretty impression, especially for a tier 3 exchange.
- Mexc Launchpad - opportunity to invest early in project tokens
- Mexc Kickstarter – Stake MX tokens to vote for token listings and get free airdrops
- MX DeFi – earn mining rewards
- MX Zone -Use MX token to reduce your trading fees, get access to Launchpad projects and much more.
- Parachain Slot Auction – Vote for projects to receive rewards
- Assessment Zone Voting – vote for projects in the Assessment zone to earn rewards.
- Mexc Staking – stake your idle coins and earn interest
Mexc Global customer support
Mexc Global does its best to offer its users the best possible customer support.
Good customer support starts by providing users all possible tools to help them without even the need to get in touch with the support. That’s why they have put together a good know-how page – the link to it can be found in the footer area of the exchange.
Mexc has also presence in most popular social media platforms like Reddit, Facebook, Twitter, Telegram, Linkedin, Instagram, Medium, Discord, and Btok.
Mexc website is currently available in 11 different languages.
If you need to get in touch with Mexc Global support representative, you can click on the live chat button in the bottom-right corner of their site.
Pros and cons of using Mexc cryptocurrency exchange
No support for fiat currencies
Multiple payment methods
Some areas of the site not in English
Good crypto selection
Security features and cold storage
Support in multiple languages
Impressive help center
No KYC exchange
Low trading fees
Mexc Global platform is worth the try
Mexc Global is definitely not the most well known cryptocurrency exchange, but it seems to be a reliable enough exchange with nice features and good enough security.
Mexc features a number of cryptocurrencies not available in other crypto exchanges.
Mexc has compliance licenses from authorities of Estoni, Canada, and also United states.
Nothing bad can be said about Mexc fees either, as their fees are fairly low.
One thing we don’t like about Mexc is their substandard English translation and no English translation on some pages at all. But fortunately this problem doesn’t exist on most important pages.