Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Introduction to MEXC
The MEXC crypto exchange is a centralized platform founded in April 2018 for trading cryptocurrencies. It is registered in Victoria, Seychelles. MEXC achieved prominence throughout its years of operations with the help of a team of pioneers from the blockchain industry, putting it among the top 100 cryptocurrency exchanges globally. MEXC provides a marketplace for different cryptocurrencies with more than 2,110+ trading pairs, including Bitcoin ($BTC), Ethereum ($ETH), Litecoin ($LTC), Cardano ($ADA), and more.
MEXC serves more than 10 million users worldwide and has complied with regulatory standards in many countries, including Switzerland, Canada, Australia, and the United States. MEXC is accessible to users from over 200 nations, providing an array of trading options, such as spot trading, margin trading, futures trading, and staking. The platform also boasts high-performance mega transaction matching technology to ensure quick and efficient trading.
MEXC also facilitates Initial Exchange Offerings (IEOs) through its âLaunchpad,â aiding new projects in raising essential funds. It has a native token, known as MX, which grants certain privileges to its holders on the platform.
This guide will help you with a basis for comparison regarding your choice of platform for crypto trading and investments, especially when evaluating the MEXC exchange ranking in comparison with other cryptocurrency exchanges.
Unleash the potential of leverage trading! Join Bybit today with our link, complete KYC, and earn up to a $40 bonus on a $100 deposit. Donât miss out on this exclusive offer; claim your bonus now!
Trading Options
Spot Trading
MEXCâs spot market is the primary marketplace where users can buy and sell cryptocurrencies. With over 1,520 cryptocurrencies and 2,110+ trading pairs, it caters to both novice and experienced traders.
Margin Trading
Margin trading allows users to borrow funds to increase their trading power. This feature is beneficial in markets with low volatility, allowing traders to capitalize on even minor price fluctuations. With leverage of up to 10x, MEXC provides the potential for increased profits. However, itâs essential to note that while margin trading can amplify profits, it can also amplify losses.
Futures Contracts
Traders can speculate on cryptocurrency prices without holding the asset. MEXC provides futures trading with leverage as high as 200x on certain cryptocurrencies.
Leverage ETFs
These are investment tools that track the price and performance of specific assets. MEXC offers leveraged ETF trading, allowing users to multiply the yield rate of an underlying asset.
Security Measures
Cold Storage Wallets
MEXC uses cold storage wallets to manage over $500 million in cryptocurrency deposits to keep assets safe.
Two-Factor Authentication
MEXC requires users to enter a code sent to their mobile device or email for an additional layer of authentication.
Advanced Security Protocols
MEXC implements a high-tech security risk control system and an anti-DDOS system.
User Registration and Verification
Signing up on MEXC is straightforward. After providing an email or phone number, users receive a verification code. Once verified, users can access features like âPrimary KYCâ or âAdvanced KYCâ to increase withdrawal limits and unlock additional features.
Services Offered
PUSH (Peer-to-Peer Trading)
This feature allows users to trade directly with one another.
Staking
Users can earn passive income by locking specific digital assets on the platform for a certain amount of yield. MEXC offers both flexible and locked staking options.
Other Services
MEXC provides services like MEXC Launchpad, API trading, advanced charting, OTC trading, and MX DeFi.
MEXC Ranking
According to CoinMarketCap (by trading volume)
As of this writing, MEXC is ranked 20th on CoinMarketCap in terms of 24h trading volume. Over the last 24 hours, MEXCâs trading volume tallied approximately $1,003,611,720.07 or 35,537 BTCâ. The platform also manages assets worth $1,238,486,632.54. Nevertheless, it is advisable to consider historical trading volumes, and trends, and compare these figures with other exchanges to get a broader understanding of MEXCâs position in the market for a more in-depth analysis.
According to Coingecko (by trust score)
As of this writing, MEXC is ranked 5th on CoinGecko in terms of trust score (10). This score indicates the level of trust that traders and investors can have in the platform. For MEXC, the score possibly reveals a higher level of trustworthiness or reliability compared to other exchanges with lower scoresâ.
According to cer.live (by security rating)
MEXC received an A security rating from cer.live. It also successfully cleared the penetration test and met the proof of funds requirement as per cer.live. MEXC holds the 31st position among 251 exchanges listed on cer.live. This rating reflects a relatively strong security infrastructure that can defend against potential threats. Its compliance with the proof of funds requirement also indicates a level of transparency and financial responsibility.
According to Statista
As of this writing, Statista ranks MEXC at the 20th position among the worldâs biggest crypto exchanges. On Statista, MEXC recorded around $550 million in terms of 24h trading volume.
Conclusion
MEXC demonstrates a stable presence in the crypto exchange market with decent rankings on CoinMarketCap, CoinGecko, and cer.live. MEXC exchange ranking puts it at the 20th position on Statista and 31st on cer.live, indicating competitive pressure from other exchanges.
MEXCâs A security rating is reassuring to some investors and traders, but varying ranking in other listings show that there is still room for improvement. The trust score and trading volume are positive indicators, yet, when compared to top-tier exchanges, it is apparent that MEXC still has to refine some features to climb higher in rankings. The data suggests MEXCâs potential but also highlights the competitive and ever-evolving nature of the crypto exchange landscape.
FAQs
Is MEXC safe?
MEXC earned an A security rating from cer.live, which guarantees a level of security on their infrastructure. This rating suggests that the exchange has implemented sufficient security measures to protect user assets and data from potential threats. There are no recently reported events of hacking on MEXC. However, like with any online platform, there are inherent risks, and users are advised to exercise caution, use all available security features, and stay informed about best practices in digital asset security.
Is MEXC legit?
The legitimacy of MEXC is supported by its trust score on CoinGecko, where it has been rated 10. This score shows the trust and reliability that traders and investors can expect from the MEXC crypto exchange. In addition, the exchangeâs compliance with regulatory standards and its efforts toward transparency in operations contribute to its legitimacy.
Is there KYC on MEXC?
Users interested in understanding the Know-Your-Client (KYC) procedures on MEXC can check the MEXC exchange login page or contact MEXCâs customer support for more detailed information. But to discuss briefly, MEXC delineates its KYC process into two tiers: Primary and Advanced. The Primary tier asks for basic personal details, increasing the daily withdrawal cap to 80 BTC but with restricted access to OTC transactions (P2P Trading in KYC sanctioned regions). Transitioning to the Advanced tier requires an additional facial recognition step, unlocking a higher daily withdrawal threshold of 200 BTC and unlimited access to over-the-counter transactions (inclusive of peer-to-peer trading in KYC approved areas, global bank transfers, and debit/credit card transactions).
Enhance Your Crypto Trading Skills With Our Legendsâ Trading Masterclass
Empower your crypto trading skills with our Legends Masterclass. Sign up now and take advantage of our limited-time discount offer! Join the class today.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.