What is MEXC?

MEXC Global is a digital asset trading platform that claims to have over 6 million+ users from over 70 countries globally. The cryptocurrency exchange is a high-performance trading engine capable of processing 1.4 million transactions per second. MEXC has licenses to operate in jurisdictions including USA, Canada, Australia, Estonia and many others. 

The platform prioritises security and has independently hosted servers across multiple countries in order to ensure optimal data integrity and security.

Advantages of using MEXC

• Offers localized language support for investors from different countries.
• MEXC has a multi-tier, multi-cluster system architecture and the platform prioritises security and has independently hosted servers across multiple countries in order to ensure optimal data integrity and security.
• Good liquidity and decent daily trading volumes. MEXC does around a billion US dollars in daily volumes at the time of writing.
• Offers multi crypto asset support with many trading pairs and digital assets available for trading on the platform. Users can trade digital assets such as BTC, ETH, USDT, etc.
• The exchange offers spot and margin trading.

• MEXC offers up to 125X leverage and competitive spreads on futures markets.
• The also offer an ETF index to make it possible for users to diversify their investments easily.
• The ETF Margin product apparently offers increased leverage with no liquidation risk.

• Users can purchase digital currencies using Visa and Mastercard. It also offers a p2p exchange option (PUSH) and accepts other payment methods including bank transfers.
• MEXC caters to institutional grade customers or market makers and offers them a range of extra benefits.

• The platform also offers users a range of options to earn yield on their idle digital assets through staking. Users can stake assets such as UST, USDT, BTC, ETH, etc.

• Users can also participate in mining pools and earn yield.

MEXC has its own Launchpad which is meant to provide users across the globe with a low-cost opportunity to invest early in project tokens. This is a feature of the platform that is exclusive to MX token holders. MX token is the ecosystem token that powers MEXC exchange. It has use cases other use cases as well including affording traders lower trading fees, M-Day special benefits, and project voting in the Assessment Zone, etc.

MEXC holds what are called “Kickstarter” events where particular activities are promoted during the pre-launch stage of a project. In such instances, the project initiates voting for the launch on MEXC, and then subsequently airdrops its tokens to all successful voting users, free of charge. In the case that the set goals are not met, MEXC will cancel the listed project and unlock the voting tokens.

This is a mechanism MEXC uses to gauge which projects could do well in terms of trading volumes and liquidity based on interest directly from the community. It’s also a way to vet unpopular projects and perhaps factoring that in the decision whether to list the project on the exchange or not. MX token plays a crucial role in this show of proof of the interests by the MEXC community.

MEXC also makes it possible for platform users to participate in the Polkadot slot auction which is a parachain auction for the Polkadot ecosystem. Users of MEXC can effective make use of their DOT tokens to vote for a Polkadot parachain project that they support. They will be rewarded according to the project’s official auction rules post voting.

Disadvantages of MEXC

• Users from particular jurisdictions cannot participate in token sales via the MEXC platform including residents from Hong Kong, China mainland, Iran, Iraq, Yemen, Syria, Virgin Islands (USA), Somalia, Sultan, Burma, Bangladesh, the United States, Libya, Lebanon, Zimbabwe, Cuba, Congo, Ecuador, North Korea, Central Africa, etc.
• MEXC is a centralised and custodial platform which means that there are risks to user funds if the platform is hacked or if there’s internal corruption, however, this risk is shared among all centralised exchange platforms including MEXC’s competitors such as Coinbase, OKX, Binance, Huobi, Gemini, PrimeXBT, KuCoin, FTX, Kraken, Bitfinex, Bybit, etc.

• MEXC does not have stellar reviews. Not that many crypto exchange platforms do since it is often suggested that people tend to comment more when they have bad experiences. Although the page is unofficial since it has not been claimed by MEXC on Trust Pilot, the reviews are average.