MEXC Review 2024 – Is Mexc Global Crypto Exchange Safe & Legit?

Our MEXC review covers its features, trading conditions including its pros and cons. Since 2018, MEXC has been getting a lot of attention, with more than 10 million people in more than 170 countries. Along with its amazing growth, MEXC is making news with its almost-zero fees and wide range of trading assets that will please even the most experienced buyers. Also, don’t forget that they process deals very quickly 1.4 million sales per second. CoinGecko ranks it as one of the top 20 markets, so it’s one of the crypto exchanges you should think about.

The crypto markets are persisting in their expansion despite the recent volatility. There are more and more people who want to buy coins. There are many places to trade crypto, so should MEXC be your choice for a crypto trading platform? Now, let’s start our review of MEXC for 2024.

MEXC Exchange Overview

Category	Details
MEXC exchange Ranking	34
Overview	Founded in 2018, serving over 10 million users globally. Known for low fees, robust security, and a wide selection of assets
Trading Features	– Spot and futures trading with up to 200x leverage  – Copy trading  – Demo trading  – P2P trading  – Advanced order types (OCO, trailing stop)
Supported Cryptocurrencies	Over 2,500 cryptocurrencies and over 2,900 trading pairs. Includes mainstream coins, altcoins, stablecoins, DeFi tokens, NFTs
Deposit Methods	– Fiat deposits via bank transfer, credit/debit cards, third-party payment processors  – Cryptocurrency deposits  – OTC services
Fees	– Spot: 0% maker/taker fees  – Futures: 0% maker, 0.01% taker fees  – Free deposits; network fees may apply for blockchain transactions
Security Features	– Two-Factor Authentication (2FA)  – Cold storage  – Encryption (SSL, AES-256)  – Withdrawal whitelisting  – Bug bounty program
Target Users	Both new and experienced traders interested in a wide range of assets, advanced trading tools, and learning opportunities

MEXC Review: Key Highlights

• Diverse Selection of Crypto: Check out thousands of cryptocurrencies, from well-known ones like Bitcoin and Ethereum to new ones like DeFi tokens and altcoins.
• Competitive Fee Structure: You can trade futures and spots with low maker fees of 0% and taker fees of 0.02%.
• Advanced Trading Options: You can use tools like stop-loss, delayed stop, and trigger orders to trade cash and futures contracts with up to 200x leverage.
• Robust Security: Two-factor authentication, cold storage for some user assets, encryption, security audits and bug bounties that are done before they happen are just a few of the security measures that you can use.
• User-Friendly Platform: Whether you’re a new or expert investor, the tool is easy to use, and there are many ways to get help.

MEXC Review: Where MEXC Excels

The MEXC, which is based in Seychelles and opened in 2018, is a controlled cryptocurrency exchange (CEX) that serves more than 10 million people in over 100 languages. The market trades billions of dollars worth of goods every day, giving both cash and futures buyers a lot of liquidity. The matching engine technology at MEXC can handle up to 1.4 million orders per second across its multi-tiered and multi-cluster system design.

Traders can also find their best and most popular coins to make the most of the crypto market, thanks to its wide range of crypto support. Users can trade these many different altcoins at high risk if they want to. MEXC Global lets you trade, but it also lets you stake crypto to make yield in a number of different ways. Also, buyers can use Launchpad and Kickstarter to get the most out of their money and get involved with good projects early on.

MEXC is the greatest option for traders who want to invest in cryptocurrency projects early on, trade a broad range of cryptocurrency assets at a very cheap charge, or mimic trade with other seasoned cryptocurrency investors.

MEXC Review: MEXC Supported Cryptos

MEXC crypto exchange has a lot of trading volume more than $1 billion worth of trades happen every day. This makes it easy for buyers to find the best prices and make deals quickly. When it comes to cryptocurrencies that are accepted, this market lets you sell a lot of them. It stores almost 2,000 cryptocurrencies and lets you trade more than 2,350 pairs. The MEXC platform is good compared to Binance, Coinbase, OKX, and Kraken in this area. These platforms all have between 200 and 400 coins available.

The MEXC platform also has a lot more crypto trade pairs than these others, with less than 1,000 pairs available on most of them and over 1,000 markets on Binance. With groups like BRC20, Bitcoin ecosystem, Solana ecosystem, Bitcoin writing, meme coins, GameFi, ZK, RWA, SocialFi, POW, Web3, privacy, metaverse, innovation, Layer 1, Base Chain, stablecoins, NFTs, and more, MEXC’s spot market is pretty big and varied.

Another thing the exchange has is its token called MX. It reached a high point of $3.70 in early December 2021. 40% of MEXC’s gains are used to buy back and burn its exchange token. This token is used in all of MEXC’s programs, including Kickstarter, Launchpad, fee savings, votes on new token listings, and higher commission rates.

MEXC Review: MEXC Spot Trading Fees Explained

To stay competitive in the crypto market, which changes quickly and has a lot of other traders, MEXC has kept its trading fees very low. At MEXC, there are no fees for either the maker or the taker in the spot market. All spot trading pairs on the market can take advantage of this offer, where there are no spot trading fees.

 On the other hand, Binance, the biggest cryptocurrency market, charges its normal users a 0.1% maker and taker fee. Users will still have to pay a fee of 0.075%, even though the platform’s trading token BNB lowers prices. Meanwhile, Coinbase (COIN), which is traded on the stock market, charges even higher fees, starting at 0.4% for takers and 0.6% for makers. So, it’s clear that MEXC users are better off in this case.

MEXC Review: MEXC Futures

If you want to trade futures, MEXC has two types of long-term products: USDT-M contracts that use USDT as collateral and COIN-M contracts that use the base cryptocurrency as security. At this writing, the unified exchange is managing almost $7 billion in trades and seeing $1.75 billion in open interest. You can get up-to-date information on futures deals and account states on MEXC. You can also learn about long/short balance and sale events.

MEXC Review: Leverage & Demo Trading

MEXC has 399 sets of perpetual, which is the most of any company. You can also change the leverage on the site, which goes up to 200x for both short and long contracts. SOL, LPT, ENS, AR, DOGE, FIL, MATIC, INJ, SUI, ARB, RNDR, SHIB, TIA, APT, BNB, WIF, JTO, AI, PENDLE, and many more stocks are available for leveraged trading. You may benefit from the demo trading at MEXC before investing your hard-earned cash in the market. Demo trading lets you get used to the product, exchange, and market without putting real money at risk. It’s like buying futures in real life.

MEXC Review: Futures Fees

MEXC doesn’t charge markets any fees to trade futures. MEXC will charge a taking fee of 0.01% to people who place market or limit orders, though. Not only do MEXC’s fees are very low, but VIP users can also get even lower fees. As a VIP customer, you can make payments and transactions over-the-counter (OTC), get special benefits, and more.

MEXC Review: Copy Trade

At MEXC, it is possible to copy the transactions of other successful traders. You need to look at how well other traders are doing and choose the best one to copy. The website gives you a long list of experienced dealers along with their 7-Day ROI, 7-Day PNL, 7-Day Win Rate, Total ROI, Total PNL, Total Win Rate, and Followers. This makes it easy for you to choose. Copy Trading lets users learn from and profit from the trades of other users. Traders who let others copy their trades can earn up to 15% of the earnings made by their fans.

MEXC Review: MEXC Bonuses & Competitions

If you sign up for MEXC, the exchange will give you 1,000 USDT to help you get started with crypto. To get the bonus, all you have to do is make an account and follow the on-screen instructions. But it’s important to know that the 1,000 USDT bonus is split up into 15 jobs, with 5 to 500 USDT available for each task.

These tasks mostly include maintaining a certain trading volume and transferring a minimum amount. You must also do your first Flash Close, set up a Take Profit and Stop Loss (TP/SL) order, use leverage, and ask new users to Do Know Your Customer (KYC). Not only does MEXC offer a USDT welcome bonus, but they also hold monthly contests. The prize pool for the February futures game is currently 6 million USDT. People who have more than 200 USDT in their future accounts can enter this game.

MEXC Review: How to join MEXC

Here is a short set of steps that will show you how to make an account on MEXC:

 Go to the MEXC website

• Click “Sign Up”: This button is generally in the upper right part of the home page.
• Select a registration method: You have the option to register using your cellphone number or email address.

Enter your information

• Email or Phone Number: Type in a real email address or phone number.
• Password: Follow the platform’s instructions to make a strong password.

Finish the verification process

• You may be asked to enter a verification code that was sent to your email or phone number as part of the verification process.

Click “Sign Up”:

• To make your MEXC account, click the “Sign Up” button after you’ve filled out all the needed fields and agreed to the terms.

MEXC Review: Is MEXC app safe?

Through its app, MEXC, a multi-platform exchange, enables you to trade tokens while on the move. The desktop version of the program is compatible with Windows desktops, and it is available for download on iOS and Android smartphones. The MEXC app has a grade of 4.0 in the App Store, where people with Apple devices can get it. The app can be downloaded on Google Play by Android users.

It has been downloaded more than a million times and has a grade of 3.8. In our study of the MEXC app, it is clear and easy to use, and users can choose between dark and light modes. You can easily trade futures and spots on the app. You can also change your leverage and open long or short accounts by clicking on the buttons and then entering the necessary information.

At the bottom of the page, you can easily find the Home, Markets, Trade, Futures, and Wallets buttons. With this digital services platform that has everything you need, it’s easy to keep track of your business, and you can enjoy fast delivery and low fees. You can use Visa and MasterCard to buy USDT right away, or you can use P2P and third parties to buy crypto. The MEXC app lets you try out more of its services, such as Launchpad, Kickstarter, PoS pool, MX zone, and more.

MEXC Review: Pros and cons of MEXC

There are good and bad things about every site. Here are the main pros and cons of the coin market and the things it sells.

MEXC pros

• A Wide Range Of Cryptocurrencies: With more than 1,500 cryptocurrencies to choose from, it is one of the biggest platforms in terms of asset collection.
• Multiple Trading Pairs: The exchange has a lot of trading pairs, including pairs for both big cryptocurrencies and smaller altcoins. This gives buyers more chances to find deals that could make them money.
• Competitive Trading Fees: MEXC imposes trading fees that are particularly advantageous for transactions that involve spot trading. Most of the time, there are no maker fees, and taking fees are very low (0.02%) compared to other markets.
• Trading Futures: The market lets you trade crypto futures.
• Benefits of the MX Token: People who own MEXC’s native MX token get special benefits like lower trade fees and early access to new projects on the Launchpad.
• Diverse PRODUCT OFFERINGS: In addition to its primary exchange operations, MEXC Global has created a whole range of cryptocurrency-related goods, such as Launchpad, MX DeFi, M-Day, Futures Trading, and Kickstarter events.

MEXC Cons

• Limited fiat options: Users who would rather trade in their local currency may find it inconvenient as it only accepts a small number of fiat currencies at this time.
• Unregulated: The trade is not overseen by any big financial departments.
• Customer Support Issues: Certain users have reported encountering challenges with MEXC’s customer support.
• Limited Trading Volume On Some Cryptocurrencies: Unlike Binance, MEXC includes recently released coins that occasionally have less liquidity.
• Limited Withdrawal Options: MEXC may have restricted resources for withdrawing funds.

MEXC Review: MEXC Staking Options

MEXC offers many possibilities for people seeking yield-earning opportunities. You can get these betting choices through MEXC Savings, which has two types of products: Flexible savings and locked savings. With Locked Savings, you hold your cryptocurrency for a certain amount of time. During that time, you can’t sell, move, exit, or use it in any other way. This is the best choice for people who want to keep their crypto safe for a long time.

Flexible Savings is the other choice. With this option, staked assets turn on immediately and start earning interest. You can sell, move, or get these locked-up goods back at any time. Under flexible saves, you can use USDT, ETH, BTC, DOGE, SHIB, GALA, DYDX, SHIB, TRX, ETHW, and USDC.

For a very low minimum requirement, MEXC’s Simple Earn choice lets you earn returns on USDC, USDT, ETH, and BTC at rates of 1.25%, 0.95%, 0.55%, and 0.38% APR, respectively. It has to be locked up for at least one day. Additionally, the exchange’s brand-new service, MEXC Loan, lets you use one cryptocurrency as protection to take another cryptocurrency for investment or selling. At the moment, you can borrow about USDT against TON with a daily interest rate of 0.01%. You can pick from three different periods: 30, 60, or 90 days. You can’t make split payments.

MEXC Review: Additional Earning Opportunities

Your earnings can be increased in other ways at MEXC. For example, the platform has special MX events that only customers can attend. These events let customers use their exchange tokens to take part in special airdrop events and win more prizes. You can get this chance through Kickstarter and Launchpad.

Kickstarter has an APY of 102.89%, and Launchpad has an APY of 2.44%. Over 200 projects have started on MEXC Kickstarter in the last 30 days. But when we looked into MEXC Global, we found that users must have held at least 1,000 MX for at least 30 days in a row in order to take part in either of these events.

MEXC Review: What Payment Methods Does MEXC Offer?

At MEXC, you can use Express, P2P, and Third-party ways to buy crypto. MEXC Estonia OÜ runs the cash services for the Express choice. Click on the “Buy” tab, pick the cash you want to use to pay, pick the cryptocurrency you want to buy, and pick the best way to pay. Peer-to-peer works with USDT, USDC, BTC, and ETH to exchange against VND, RUB, and KRW. You can use a bank account, MoMo, ZaloPay, or ShopeePay-SEA to do this.

MEXC allows deals between people without any fees. You need to pick the price and way of payment you want, pay the seller, and get your crypto.  Visa, Mastercard, Apple Pay, Google Pay, Bankcard, and SEPA can be used to pay third parties through Mercuryo, Banxa, MoonPay, and Simplex. EUR, GBP, USD, VND, BRL, KRW, JPY, KZT, TRY, HKD, AUD, PHP, NGN, INR, TWD, EGP, THB, BDT, CHF, UAH, and IDR are among the numerous fiat currencies that this option supports.

MEXC Review: Minimum Deposit

The MEXC cryptocurrency exchange offers free deposits. When buying USDT, the least amount needed to make a payment through a third party is 29.46 EUR, 22 GBP, 50 USD, 60 AUD, or 50 CHF.  People who choose the Express choice will need to pay at least 10 EUR, 8.5 GBP, 10 USD, 40,000 KRW, 6,000 JPY, 60 AUD, or 50 CHF to buy USDT.

MEXC Review: Withdrawal Times

MEXC permits the withdrawal of both fiat and cryptocurrency. There are two ways to receive money: crypto can be sent to an external wallet, and cash can be sent through P2P. Withdrawals via bank transfer, on the other hand, are only possible for users in the UK and Germany who have been KYC-verified and use SEPA. P2P trading is also possible for people in Vietnam, South Korea, and Russia who KYC has checked out.

To withdraw crypto, go to the website, click on MEXC Wallet, then select withdrawal. Next, pick the crypto you want to withdraw, enter the payout address and network, and finally, enter the amount you want to take. The refund will go through once the email verification and Google Authenticator codes are entered correctly. For each coin, the minimum transfer amount and fees are different.

MEXC Review: MEXC Customer Service

MEXC offers a number of ways for customers to get help. It has a very large Help Center where you can find answers to most of your questions about how to use the platform, security, over-the-counter (OTC), changes, and other related topics. You can send a request or write them at service@mexc.com if you’d like to talk to a real person about your problems. You can also get help online through a robot. MEXC also has a form for reporting suspicious funds, which is for people who think their stolen or fraudulent funds have ended up at the exchange.

Twitter, Facebook, Instagram, Telegram, Reddit, Discord, TikTok, Line, LinkedIn, Medium, and TeleType are some of the other social media sites that MEXC is active on. A score of 1.9 on Trustpilot shows that customers are happy with it. This rating is the same as those of other top cryptocurrency exchanges, like Coinbase, which has a 1.5 rating. CoinGecko does give MEXC an 8 out of 10 trust score, though.

MEXC Review: Is MEXC Legit?

The location of a platform is a critical factor in determining its trustworthiness. So, where is the MEXC exchange? Its main office and registration office are in Seychelles, a country known for having lax financial rules. The platform got a financial service license from AUSTRAC in 2020. This lets it offer services like digital currency exchange, wallets, and money transfers. In addition to its US MSB license, MEXC also has an Estonian MTR license so it can serve clients in Europe.

However, MEXC has been warned by officials several times because crypto regulations are always changing. Warnings were sent out about the platform in 2023 by the British Columbia Securities Commission (BCSC) in Canada, the Austrian Financial Market Authority (FMA), and Germany’s Federal Financial Supervisory Authority (BaFin). Also, MEXC Estonia OÜ lost its license in November 2023 when the Estonian FIU took it away. These events show the problems that crypto organizations have to deal with. The exchange uses different types of wallets (cold and hot) to keep user funds safe. It has also made its proof of savings public.

MEXC Review: MEXC Supported and Restricted Countries and Regions

MEXC Supported and Countries

MEXC Restricted Countries

Europe: MEXC is available in many European countries, but specific services may be restricted in certain jurisdictions due to local regulations.Asia: MEXC has a presence in various Asian countries. However, it’s important to note that MEXC is unavailable in Mainland China.Australia: MEXC is accessible to Australian users.Africa: MEXC operates in various African countries, as part of its global presence.South America: MEXC is available in most South American countries, subject to local regulations.

North KoreaCubaSudanSyriaIranCrimeaMainland ChinaHong Kong (China)IndonesiaSingaporeVenezuelaUnited StatesCanadaThe NetherlandsBangladeshBoliviaMaltaCrimea, Donetsk and Luhansk regions

MEXC Reviews Trustpilot

MEXC is rated 1.4 stars on Trustpilot. 

Areas Where MEXC Could Improve

This MEXC review says that the exchange has some good points, but it also needs to work on a few things:

• Allowing more currency payments would be very helpful for customers.
• Approval from regulators would help users trust the system.
• More happy customers because of faster replies and better handling of customer payments.

 

 

 

MEXC Review: Our Methodology

We are dedicated to helping our users by giving them deep insights they can trust so they can make smart choices when dealing with crypto assets. Our team of professionals carefully and objectively tests the site and all of its goods and services for our crypto exchange reviews. We also make sure that our reviews are based on research and are up to date. This way, crypto fans can get the most useful information for the best experience. 

FAQs

MEXC Review-Conclusion

There are a lot of cryptocurrency swaps out there, so it can be hard to find one that lets you trade both popular altcoins and new stories while also giving you the chance to leverage your trades for a low fee. This is exactly where MEXC shines. It lets new traders take advantage of the instability of altcoins and copy-trade other pros, while it gives experienced traders a lot of leverage and the chance to get paid for sharing their knowledge.

MEXC users can also place stablecoins, Bitcoin, Ethereum, and other altcoins to make returns. Thus, to experience the most unique chances in the cryptocurrency world, join MEXC and get a 1000 USDT bonus!