Mexc Review 2024

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Last update: 10 months ago

Our veredict

MEXC, a global cryptocurrency exchange, stands out for its extensive range of digital assets and advanced trading features which cater to both beginners and seasoned traders. The platform is praised for its robust security measures, including multi-tier and multi-cluster system architecture, and an emphasis on user security protocols. MEXC’s offering of futures, spot trading, and staking services makes it versatile for various trading strategies.

However, there are a few points where MEXC could improve. The platform’s customer service has room for enhancement, particularly in terms of response times and the effectiveness of support provided to users facing issues. Also, while MEXC supports a vast array of cryptocurrencies, its educational resources for new traders could be more comprehensive to better assist users unfamiliar with trading concepts and strategies. Despite these minor drawbacks, MEXC remains a strong contender in the crypto exchange arena, especially for those looking to explore an extensive list of digital assets with a secure and sophisticated trading environment.

Pros

Cons

Investing risks losing your money

4,4

Threenvest Score

Fees

0,20%

U.S Legal

With the confidence of Threenvest

Security Methods: MEXC employs robust security protocols, including a multi-tier and multi-cluster system architecture that ensures the safety and integrity of user data and funds. This comprehensive security strategy helps to protect against potential cyber threats and unauthorized access.

Reputation and Reviews: MEXC enjoys a strong reputation in the cryptocurrency community, backed by positive user reviews that often highlight the platform’s reliability, user-friendly interface, and responsive support.

Trading Volume and Liquidity The exchange boasts high trading volumes and liquidity, which is a testament to its active user base and efficient market operations. This ensures that users can execute trades quickly and at desired prices, even for large volume transactions.

Year Founded: Since its establishment in 2018, MEXC has shown significant growth and resilience in the fast-evolving crypto market, indicating stability and a deep understanding of market needs.

Possible Regulation: MEXC complies with various international regulatory standards, enhancing its credibility and reliability as a secure platform for trading digital assets. This regulatory adherence assures users of its commitment to lawful and ethical operations.

Best Crypto Exchanges

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About Mexc

Introduction

MEXC Exchange stands as a formidable presence in the dynamic realm of cryptocurrency trading platforms. Known for its comprehensive offerings and innovative solutions, MEXC has carved a niche for itself among global crypto enthusiasts.

What is MEXC?

MEXC, or MEXC Global, is a cryptocurrency exchange that provides a full spectrum of financial services including spot trading, futures, margin trading, and staking. It is celebrated for its extensive list of supported cryptocurrencies and advanced trading tools, catering to a diverse user base ranging from novice traders to professionals.

Background and History

Founded in 2018, MEXC Global quickly established itself as a leader in the cryptocurrency exchange space. The platform was designed to meet the growing demand for a versatile and secure environment where users can trade a wide range of digital assets. Since its inception, MEXC has expanded its offerings to include more than just trading, incorporating investment services and educational resources to support its global community.

Founders

The brains behind MEXC include some of the most seasoned professionals in the fintech and crypto industries. The exchange was co-founded by John Chen Ju, who brings a wealth of knowledge and experience in technology and business development. His vision for MEXC was to create a platform that not only simplified trading but also enhanced the security and efficiency of crypto transactions.

Fun Facts

MEXC was one of the first exchanges to offer futures trading for emerging cryptocurrencies, reflecting its commitment to innovation.
The platform supports trading for over 1,000 different cryptocurrencies, one of the highest in the market.

Interesting Facts

MEXC’s user base spans over 70 countries, highlighting its global appeal and accessibility.
The exchange employs a unique multi-layer, multi-cluster system architecture, enhancing its security and scalability to handle large volumes of transactions without compromise.

This background paints MEXC as a robust and visionary platform that continues to influence the cryptocurrency trading landscape profoundly, driven by its innovative founders and commitment to its users’ needs.

Why Choose Mexc?

Choosing MEXC Exchange as your cryptocurrency trading platform offers numerous advantages that cater to both beginner and experienced traders. Firstly, MEXC is renowned for its extensive range of trading options, including spot, margin, and futures trading, coupled with staking opportunities. This diversity allows users to explore various investment strategies within a single platform, making it highly adaptable to different trading preferences and risk tolerances. Additionally, the exchange supports over 1,000 different cryptocurrencies, providing one of the most extensive selections available in the market. This vast array of choices ensures that users have access to both popular and emerging cryptocurrencies.

Security is another compelling reason to choose MEXC. The platform’s sophisticated security methods, including a multi-tier and multi-cluster system architecture, provide robust protection against cyber threats and ensure the safety of users’ funds and personal information. MEXC’s commitment to security is mirrored in its positive reputation and the trust it has built within the crypto community. The platform’s proactive approach to security, combined with regular updates and enhancements, offers peace of mind to users prioritizing the safety of their investments.

Lastly, MEXC’s high trading volume and liquidity mean that trades are executed swiftly and at competitive prices, which is crucial for traders looking to capitalize on the volatile crypto market. The platform’s user-friendly interface and responsive customer service further enhance the trading experience, ensuring that both novices and experts can navigate and utilize the exchange effectively. With its adherence to international regulatory standards, MEXC also assures users of its commitment to compliance and ethical trading practices. For these reasons, MEXC stands out as a reliable and efficient choice for anyone looking to engage in cryptocurrency trading.

Where it falls short

Customer Service: One of the primary concerns with MEXC is its customer service, which has been noted for slower response times and sometimes less effective resolution of issues. This can be particularly frustrating in the fast-paced environment of cryptocurrency trading where timely support can be crucial. To improve in this area, MEXC could invest in expanding its customer service team and training them to handle inquiries more efficiently. Implementing a more robust live chat feature with 24/7 availability could also significantly enhance user support. Additionally, integrating AI-driven chatbots for handling common queries could free up human resources to tackle more complex issues, thus improving overall customer service response times and effectiveness.

Educational Resources: Another area where MEXC could see significant improvement is in the provision of educational resources for traders. Currently, the platform may not offer sufficient educational materials for beginners who are new to cryptocurrency trading. Enhancing this aspect could involve the development of a comprehensive learning center within the platform that includes detailed tutorials, videos, and step-by-step guides on trading basics, strategies, and risk management. This would not only aid new traders in making informed decisions but also enhance the overall appeal of the platform by making it more accessible to a wider audience. Moreover, regular webinars and workshops could be introduced to keep all traders updated on the latest market trends and trading technologies.

Features	Explanation
Minimum Trade	MEXC allows for relatively low minimum trade amounts, making it accessible for beginners and those trading small amounts.
Trading and Transaction Fees	Competitive trading fees with discounts available for high-volume traders and token holders, making it economically viable.
Number of Cryptocurrencies	Supports over 1,000 cryptocurrencies, offering one of the widest selections in the market.
Crypto-to-Crypto Trading Pairs	Offers a vast array of crypto-to-crypto trading pairs, facilitating diverse trading strategies.
Website Transparency	While MEXC provides ample information on trading operations, more detailed disclosures could enhance trust.
Credit/Debit Card	Lacking an exchange card means MEXC users miss out on potential everyday use benefits, such as cashback in crypto on purchases or other rewards that are commonly offered by some other crypto exchanges with proprietary cards.
Storage Offering	Provides secure storage solutions, but enhanced features for asset management could improve user experience.
Staking and Rewards	Offers competitive staking options and rewards, appealing to long-term holders and active traders.
Mobile App and Desktop	The mobile and desktop platforms are highly user-friendly, offering full trading functionality and good design.
Customer Service	Customer support is available but improvements are necessary in response time and effectiveness.
Deposit and Withdraw	Deposits and withdrawals are handled efficiently, though clarity on timeframes and fees would enhance service.

Investing risks losing your money

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our website, I recommend MEXC Exchange for its impressive array of over 1,000 cryptocurrencies and robust trading options, making it ideal for both new and seasoned traders. However, potential users should note the areas needing improvement, particularly customer service responsiveness. Overall, if you’re looking for a platform with high liquidity and diverse trading capabilities, MEXC is a solid choice, but be prepared for possible delays in support when you need assistance.

Fees

MEXC Exchange offers competitive trading and transaction fees that cater well to both high-volume traders and occasional users. The platform employs a tiered fee structure, where fees decrease as a user’s trading volume increases, providing an incentive for frequent trading. Additionally, holding the exchange’s native token can yield further discounts, making the fees more advantageous. For those using credit or debit cards for deposits or withdrawals, it’s important to note that while convenient, these methods may incur higher fees compared to other payment options. This structure is designed to be economical for active traders while still accommodating casual users.

Pros

Tiered Fee Structure: MEXC employs a tiered commission system which reduces the trading fees as the user’s trading volume increases. This incentivizes both high-frequency trading and loyalty to the platform, benefiting active traders with more competitive rates.
Discounts for Token Holders: Users holding the platform's native tokens benefit from additional discounts on trading fees, adding a layer of utility to the token and rewarding users for their investment in the platform’s ecosystem.
Competitive Rates: MEXC's fees are competitively priced relative to other major exchanges, which helps attract a broad user base, from professional traders to novices looking for a cost-effective way to enter the cryptocurrency market.

Cons

Complexity for New Users: The tiered fee structure, while beneficial for high-volume traders, can be complex for new users to understand. This complexity might deter newcomers who are not yet familiar with how trading volumes impact commission rates.
Higher Fees for Low Volume Traders: Traders with lower trading volumes face relatively higher fees, which may not be as cost-effective compared to other platforms that offer flat or lower rates regardless of trading volume. This could make MEXC less attractive to casual or infrequent traders.

Trading Commissions

MEXC employs a tiered fee structure, a common strategy among cryptocurrency exchanges that serves to incentivize higher trading volumes. This structure is beneficial not only to the exchange, by encouraging more trading activity, but also to traders, who can reduce their cost per transaction significantly as their trading volume increases. Typically, trading fees on MEXC start competitively low and can decrease further, based on the user’s 30-day trading volume and their holdings of the platform’s native token, MX. For spot trading, fees begin at 0.2% for both makers and takers, which is quite competitive compared to the global average of around 0.25%. As traders ascend the VIP levels, these fees can decrease to as low as 0.06% for makers and 0.08% for takers, contingent on high trade volumes and substantial MX token holdings. This incentivized reduction in fees can lead to significant cost savings for high-volume traders, positioning MEXC as a highly attractive platform for professional trading entities and individuals who operate with large capital.

Hidden Fees and Other Charges

Beyond the transparent trading fees, MEXC has a relatively straightforward approach to other commissions, but users must remain vigilant about a few less obvious costs:

Withdrawal Fees: MEXC charges a withdrawal fee that varies by coin. This fee is generally in line with network transfer costs, ensuring that the platform covers the necessary blockchain fees. However, these fees can fluctuate based on the blockchain network’s congestion and underlying changes in network fees, potentially catching users off guard if they are not attentive.
Deposit Fees: There are no fees for depositing crypto into MEXC, but depositing fiat may incur charges depending on the method used. For example, bank transfers generally do not incur a deposit fee, but using payment cards can come with a fee charged by the payment provider, not MEXC itself.
Inactivity Fees: MEXC does not charge users for account inactivity, which is a notable advantage over some platforms that impose maintenance or inactivity fees. This makes MEXC appealing for long-term investors who may not trade frequently.

Analysis and Context

Analyzing the broader context, MEXC’s fee structure is designed to balance competitiveness with profitability. The tiered trading fee model aligns MEXC with other top exchanges like Binance and Kraken, which also use volume-based pricing to attract large volume traders. However, MEXC differentiates itself with its token-based discounts, which not only foster loyalty but also enhance the utility and demand for the MX token, subsequently stabilizing its market value. The lack of deposit fees for cryptocurrencies and the absence of inactivity fees position MEXC as a user-friendly platform, especially appealing to new entrants in the cryptocurrency space who might be deterred by high upfront costs and complex fee structures.

Conclusion

In conclusion, MEXC’s commission structure is thoughtfully designed to attract a broad spectrum of traders, rewarding high-volume trading with significantly lower fees while maintaining a competitive stance for newcomers with no hidden inactivity or deposit fees. This strategic approach to commissions, combined with a robust trading infrastructure and a wide range of supported cryptocurrencies, makes MEXC a compelling choice for both active traders and long-term investors in the crypto space. By continuing to provide transparent, competitive fee structures, MEXC not only enhances user satisfaction and retention but also reinforces its position in the global cryptocurrency exchange market.

Product selection

MEXC Exchange offers a comprehensive suite of services and products designed to cater to a diverse array of trading needs and preferences. At its core, MEXC provides robust spot trading options, featuring a vast selection of over 1,000 cryptocurrencies. For those looking for leverage, the platform also offers futures trading, allowing users to speculate on price movements with the potential for higher gains. An innovative aspect of MEXC’s offerings is its staking and rewards program, which incentivizes users to lock in their cryptocurrencies in exchange for earning interest, enhancing the earning potential beyond typical trading activities. Additionally, MEXC supports margin trading, giving traders the ability to borrow funds to increase their buying power. The exchange is accessible via both a mobile app and a desktop platform, ensuring a seamless and flexible trading experience across different devices. This integrated approach positions MEXC as a versatile and user-friendly platform suitable for both beginners and experienced traders looking to explore various trading strategies and maximize their crypto investments.

Pros

Extensive Cryptocurrency Options: MEXC stands out with its vast selection of over 1,000 cryptocurrencies, offering traders unparalleled access to both major and emerging coins. This variety allows users to diversify their portfolios and take advantage of market opportunities across a broad spectrum of digital assets.
Comprehensive Trading Tools: The platform provides a wide range of trading options, including spot, margin, and futures trading. This allows users to engage in different trading strategies within the same ecosystem, catering to both conservative investors and risk-takers.
User-Friendly Access Across Devices: MEXC supports trading on multiple devices through its sophisticated mobile app and desktop platform, ensuring that traders can manage their investments and respond to market changes on-the-go, which is crucial in the volatile crypto market.

Cons

Complexity for Beginners: Despite the availability of various trading tools and options, the sheer breadth and depth of features can be overwhelming for beginners. New traders might find the platform's advanced options confusing and difficult to navigate without sufficient educational resources.
Lack of Advanced Financial Products: While MEXC offers basic trading and staking options, it lacks certain advanced financial products such as options and bond trading, which are available on some other platforms. This could limit traders looking for a full spectrum of financial instruments beyond the typical crypto offerings.

Read more about product selection in Mexc

MEXC Exchange offers a comprehensive suite of services and products tailored to meet the needs of diverse crypto market participants, from beginners to experienced traders. Here’s a detailed look at the extensive range of offerings provided by MEXC:

Spot Trading: This is the fundamental feature of any crypto exchange where users can buy and sell cryptocurrencies at current market prices. MEXC provides a robust platform for spot trading with a vast selection of over 1,000 cryptocurrencies, catering to traders who wish to exchange their assets directly without leverage.
Futures Trading: Futures contracts allow traders to buy or sell cryptocurrencies at a predetermined price at a specific time in the future. MEXC offers both perpetual and traditional futures, which is beneficial for traders looking to hedge against market volatility or speculate on price movements.
Leveraged Tokens: These are derivative products that give traders increased exposure to the price movements of cryptocurrencies without the complexities of managing a margin account. Leveraged tokens on MEXC amplify the potential returns (and risks) of trades by providing a multiplier effect on the price movements of underlying assets.
Staking and EARN: MEXC users can lock up certain types of cryptocurrencies in a staking contract to earn rewards. The EARN feature allows users to gain interest on their idle assets, enhancing their investment returns over time through compound interest.
Liquid Swap: A liquidity pool that allows users to become liquidity providers by depositing tokens into a pool and earning transaction fees based on the amount of liquidity they provide. This is especially attractive for users looking to earn passive income from their crypto holdings.
Loans: MEXC offers crypto-backed loans, enabling users to borrow against their cryptocurrency assets without selling them. This is particularly useful for traders who need liquid funds but do not want to liquidate their positions.
Leveraged Trading: This feature enables traders to trade more than they own by borrowing money from the exchange. It amplifies both the potential gains and losses, making it suitable for experienced traders who can manage higher risks.
API Access: Advanced traders and institutions can use MEXC’s API (Application Programming Interface) to automate their trading strategies by integrating their trading software directly with the exchange.
Trading View Integration: MEXC integrates with Trading View, providing sophisticated charting tools for technical analysis. This feature is essential for traders who rely on technical indicators to make informed trading decisions.
Derivatives: Beyond simple futures, MEXC offers a range of derivative products including options and tokenized versions of commodities and indices, providing traders with various ways to hedge, speculate, or diversify their portfolios.
Launchpad: MEXC Launchpad serves as a platform for launching new cryptocurrencies. It allows users to get early access to token sales, which potentially can offer lucrative investment opportunities.
Referral Codes and Promotions: MEXC frequently offers promotions, referral codes, and bonuses to attract new users and retain existing ones. These can include trading competitions, token giveaways, and discount offers on trading fees.
Mobile App and Desktop Platform: The MEXC mobile app and desktop platform provide a seamless trading experience across devices. Both platforms are designed to be intuitive, ensuring that users can trade and manage their portfolios efficiently from anywhere.
Own Cryptocurrencies and Network: MEXC has its native token, MX Token, which users can use to receive trading fee discounts, participate in token sales, and more. While MEXC does not have its own blockchain network, it supports a wide array of tokens from various networks.
Research and Education: Understanding the need for informed trading decisions, MEXC offers comprehensive research tools and educational resources. These include tutorials, articles, and webinars on crypto trading and investment strategies.
Yielding Pools and Bonus Deals: Users can participate in yielding pools where they can stake their crypto to earn yields based on the pool’s performance. Bonus deals are also periodically available, offering additional rewards under certain conditions.
Demo Account: For beginners, MEXC provides a demo trading account where users can practice trading with virtual money. This is a critical learning tool for new traders, allowing them to gain experience without financial risk.
Wallet Services: MEXC offers a secure wallet service for users to store their cryptocurrencies. The wallets are integrated into the trading platform, providing easy access for trading and staking.

Each of these services and products has been designed with the user experience in mind, aiming to provide a versatile and comprehensive trading environment. Whether you are a novice looking to learn about cryptocurrencies or an experienced trader aiming to leverage advanced trading tools, MEXC offers resources and tools to help achieve various financial goals in the crypto space.

Account opening

To start, you simply visit the MEXC website or download the mobile app, and click on the “Sign Up” button where you will be prompted to enter basic information such as your email address or phone number and create a password. Following this, an email or SMS verification is required to ensure the security of your account. Once verified, you can immediately access your account. However, to engage in any trading activities and unlock higher withdrawal limits, completing the KYC (Know Your Customer) verification is necessary. This step involves submitting additional personal information and identification documents to comply with regulatory requirements. After approval, you are set to deposit funds and begin trading, with the entire process typically completed within a few minutes to a few hours, ensuring that new users can quickly and safely start trading.

Pros

Speed and Simplicity: The account opening process on MEXC is notably quick and straightforward. New users can set up an account within minutes, with only basic information required initially, making it highly accessible for beginners eager to start trading.
No Immediate KYC for Basic Trading: MEXC allows users to engage in basic trading activities without completing the KYC process right away. This feature is particularly beneficial for users who want to explore the platform and start trading immediately with lower transaction limits.
Multiple Verification Options: MEXC offers flexibility in account verification, accepting both email and mobile phone verification. This dual-option approach enhances convenience and caters to global users with different preferences for communication.

Cons

Mandatory KYC for Full Features: While the initial setup is quick, access to all trading features, higher withdrawal limits, and security enhancements requires completing the KYC process. This can be a deterrent for users who prefer anonymity or are hesitant about sharing personal information.
Potential Delays in KYC Verification: Depending on the volume of new applications or the clarity of the documents submitted, the KYC verification process can sometimes experience delays. This can temporarily restrict users from accessing full trading capabilities or higher transaction limits, which might be frustrating for those looking to utilize the platform to its fullest right away.

Detailed Guide on Account Opening Process on MEXC Exchange

How to Sign Up on MEXC:

Visit the Official Site: Start by navigating to the MEXC official website or downloading the MEXC mobile app from your device’s app store.
Registration: Click on the “Sign Up” button usually located at the top right corner of the homepage. You will be prompted to enter either an email address or a mobile number.
Set a Password: Create a strong password that includes a mix of letters, numbers, and special characters to enhance account security.
Verification: Upon entering your details, you’ll receive a verification code either through SMS or email, depending on the method you chose for registration. Enter this code on the website to verify your contact information.
Agree to Terms: Read through the user agreement and privacy policy, and if you agree, check the box to proceed.

Opening An Account:

Once you’ve verified your contact information, your MEXC account is technically open and ready to use for basic functions. However, to fully activate all features, especially those involving withdrawals or higher trading limits, you’ll need to complete additional verification steps.

How to Buy Your First Cryptocurrency:

Login to Your Account: Enter your MEXC account using your credentials.
Navigate to ‘Buy Crypto’: Once logged in, locate the ‘Buy Crypto’ button on the top menu. This section offers options like buying directly with a credit card, P2P trading, or third-party payments.
Choose Payment Method: Select your preferred payment method. If you choose to use a credit card, you’ll be asked to enter your card details and the amount you wish to spend.
Select Cryptocurrency: Choose the cryptocurrency you wish to purchase from the list available.
Confirm Transaction: Review all the details, including fees and the total cost for the purchase. Confirm the transaction and follow through to completion.

Account Types on MEXC:

Basic Account: Immediately available after your initial registration and email or mobile verification. This account type allows for basic trading and access to most platform features with a lower withdrawal limit.
Verified Account: Requires completion of KYC (Know Your Customer) procedures. You need to provide additional personal information and upload government-issued ID documents. This account type unlocks higher withdrawal limits and full access to all trading services, including higher-risk options like futures.
Professional Account: For users with significant trading volume or need for higher limits. This often requires additional verification and proof of trading experience or financial status.

How to Use MEXC:

For non-experts, navigating MEXC is made easier with an intuitive user interface:

Dashboard: Once logged in, you’ll see your account dashboard with quick access to different markets, your portfolio, and trading tools.
Trading: To trade, go to the ‘Trade’ section and select ‘Spot’ to begin trading a wide range of cryptocurrencies against various fiat and crypto pairs.
Monitoring Tools: Use tools like charts, order books, and recent trades to make informed decisions.

Registration and KYC:

Registration: Follow the sign-up process as described above.
KYC Process: After registration, complete the KYC by navigating to the account settings where you will be guided to provide and upload necessary documents. KYC is crucial for security purposes and to enhance your account capabilities.

Lastly, if you’re looking to deposit funds into your MEXC account, this will be covered in the next section, ensuring you have all the information you need to start trading effectively.

Security

MEXC Exchange places a strong emphasis on security, employing a multi-faceted approach to protect users’ assets and personal information. The platform integrates industry-standard security features, including SSL encryption, two-factor authentication (2FA) for all accounts, and cold storage for the majority of the cryptocurrency holdings to mitigate the risk of theft or hacking. Furthermore, MEXC utilizes a multi-layer, multi-cluster system architecture which enhances system stability and resilience against DDoS attacks. The exchange also conducts regular security audits and updates to ensure that security measures are up to date with the latest threats. This comprehensive security infrastructure is designed to provide a secure trading environment, fostering trust and confidence among its user base.

Pros

Robust Protection Measures: MEXC Exchange uses advanced security protocols including SSL encryption to protect data transmissions, two-factor authentication (2FA) for additional account security, and cold storage for the majority of user funds to prevent unauthorized access and reduce the risk of theft from online hacks.
Advanced System Architecture: The platform’s multi-layer, multi-cluster system architecture is designed to enhance stability and robustness, effectively minimizing downtime and protecting against potential Distributed Denial of Service (DDoS) attacks, which are common in the cryptocurrency space.
Regular Security Audits: MEXC conducts regular security audits and updates its systems to tackle emerging security threats. These audits are crucial for identifying vulnerabilities early and fortifying the exchange against new types of cyberattacks.

Cons

Complexity for Users: While effective, the security measures can sometimes be complex and cumbersome for less tech-savvy users. The necessity for multiple verifications and the use of various security tools can lead to a less intuitive user experience, potentially deterring new or inexperienced users.
Potential for User Error: The security of an account also heavily depends on the user’s adherence to best practices. Users who fail to properly secure their login credentials or who use inadequate security measures on their personal devices may still be vulnerable to security breaches, despite the robust measures provided by the exchange.

Security Overview of MEXC Exchange

Is MEXC Legit?

MEXC Exchange is indeed a legitimate platform that has established itself as a reliable player in the cryptocurrency market since its inception in 2018. It is known for its transparency, compliance with regulatory standards, and a proactive approach to security and user protection.

Regulation and Licensing

MEXC operates with a commitment to adherence to international financial laws and regulations. Although specifics about its licensing vary depending on the region, the platform engages with local financial authorities to ensure compliance. This includes following guidelines set forth by anti-money laundering (AML) and know your customer (KYC) frameworks, which adds layers of legitimacy and trust.

Is MEXC Safe?

MEXC is considered safe by industry standards. It employs several advanced security measures to protect user assets and data, which include:

Cold Storage: A significant majority of the user funds are stored in cold wallets, which are offline storage systems that significantly reduce the risk of hacks and unauthorized access.
Two-Factor Authentication (2FA): MEXC mandates the use of 2FA, adding an extra layer of security to the login process and withdrawal operations, ensuring that it’s not just the password protecting the account.
SSL Encryption: Secure Socket Layer (SSL) encryption is utilized to safeguard data transmission between the user’s device and the exchange, protecting sensitive personal information from interception by third parties.
Multi-Layer and Multi-Cluster System Architecture: This technical framework enhances the overall stability of the platform and guards against potential DDoS attacks, ensuring the exchange operates smoothly even under duress.

Security History

Throughout its operation, MEXC has maintained a commendable track record with no significant security breaches reported. This is attributed to its robust security protocols and the continuous updating of its systems to handle new threats. Regular security audits are performed to identify and rectify potential vulnerabilities, showcasing MEXC’s dedication to maintaining high security standards.

Why MEXC is a Secure Crypto Exchange

MEXC’s commitment to security is evident in its comprehensive measures and ongoing efforts to protect user assets. The use of cold storage for the majority of funds, mandatory 2FA, and cutting-edge encryption contribute to making MEXC a secure platform for trading cryptocurrencies. Additionally, its compliance with regulatory requirements and regular system updates further enhance its security framework.

Conclusion

Overall, MEXC stands out as a secure and legitimate cryptocurrency exchange. It has implemented stringent security measures to ensure that users’ funds and data are well-protected. The absence of major security incidents in its history further testifies to the effectiveness of its security strategies.

Potential Security Concerns

If there were any reasons MEXC might not be considered safe, it could stem from the inherent risks associated with online trading platforms, such as potential user error in handling account security details (like sharing passwords or failing to enable 2FA) or unforeseen vulnerabilities that have not yet been exploited. However, MEXC’s proactive approach in updating and auditing its systems regularly minimizes such risks, maintaining its stature as a trusted platform in the cryptocurrency community.

Customer service

MEXC Exchange’s customer service is designed to support a global user base with a variety of support options, yet it receives mixed reviews that highlight both strengths and areas for improvement. The platform provides customer support through multiple channels including email, live chat, and social media, ensuring that users can reach out through their preferred medium. Response times can vary, with some users reporting quick resolutions while others experience delays, particularly during peak trading times or following major market events. MEXC also features an extensive FAQ section and educational resources that help users troubleshoot common issues and understand

Pros

Multiple Support Channels: MEXC provides a variety of customer support options, including email, live chat, and social media platforms. This diversity allows users to choose their preferred method of communication, ensuring they can seek help in a way that's most convenient for them.
Comprehensive FAQs and Educational Resources: The exchange offers an extensive array of FAQs and educational content. This proactive approach helps users find answers to common questions and issues independently, which can be faster than waiting for direct support responses and educates them to avoid similar issues in the future.
Multilingual Support: Recognizing the global nature of the cryptocurrency market, MEXC offers customer service in multiple languages. This is particularly beneficial for non-English speaking users, ensuring that the platform is accessible and user-friendly for a global audience.

Cons

Inconsistent Response Times: While MEXC offers multiple ways to contact support, users sometimes experience inconsistent response times. During high-demand periods, such as market volatility events, response times can lag, which may lead to frustration among users needing timely support.
Quality of Support Can Vary: Some users have reported variability in the quality of support received. While some find the help provided to be thorough and useful, others have felt that the solutions offered were generic and not tailored to their specific issues, indicating a possible need for more trained or specialized support personnel.

Read more about customer service in Mexc

Customer Support:

MEXC Exchange prioritizes customer support as a crucial component of its services, offering a range of options to assist users with any issues or queries they might have. The support team is designed to be responsive and knowledgeable, aiming to provide timely and effective solutions.

Reputation and Customer Feedback:

The reputation of MEXC’s customer service is mixed. Many users appreciate the availability of multiple support channels and the provision of multilingual support, which makes the platform accessible to a global audience. However, there are also reports of inconsistent service quality, with some users experiencing delays or receiving inadequate responses to their issues. On community forums and review sites, feedback often highlights the efficiency of customer service during normal operations but points to some challenges during peak times or specific market events.

Methods of Contact:

MEXC offers several methods for users to seek assistance:

Live Chat: For real-time support, MEXC provides a live chat feature available directly on their platform, which is often the quickest way to get help.
Email Support: Users can send detailed queries via email, which is useful for complex issues that may require more in-depth assistance.
Social Media: MEXC is active on several social media platforms, including Twitter, Facebook, and Telegram, where users can post their questions or concerns.
Support Tickets: Through the exchange’s website, users can submit support tickets for specific issues, which helps in tracking the query and ensuring it is addressed.

Response Time:

The response time for MEXC customer service can vary. Live chat and social media inquiries typically receive the fastest responses, often within a few hours. Email queries and support tickets might take longer, anywhere from a few hours to a couple of days, depending on the complexity of the issue and the current volume of inquiries. During high traffic periods, especially when the crypto market is particularly volatile, response times can be slower due to the higher volume of support requests.

Additional Considerations:

Users looking for assistance from MEXC customer support should consider the following tips to ensure a smoother experience:

Detailed Queries: Providing clear and detailed information about your issue can help the support team understand and address your query more effectively.
Screenshots and Documentation: Including screenshots or relevant documentation with your initial inquiry can reduce back-and-forth communication and speed up resolution.
Check FAQs and Resources: Before reaching out to support, users may find it helpful to consult MEXC’s comprehensive FAQ section or educational resources, which can resolve common issues without the need to wait for personal assistance.

In conclusion, while MEXC strives to provide robust customer support, there is room for improvement, especially in handling high-demand situations and ensuring consistency in the quality of service. Enhancing training for support staff and perhaps increasing the team size during peak periods could further bolster MEXC’s customer service effectiveness.

Is mexc Right for You?

Range of Trading Options and Asset Availability: MEXC is particularly well-suited for traders who are looking for a diverse range of trading options including spot, futures, and derivatives trading. With over 1,000 cryptocurrencies available, it’s an excellent choice if you’re interested in exploring a wide array of digital assets beyond the major ones. This makes MEXC ideal for both traders who stick to well-known cryptocurrencies and those looking to venture into newer, less-known coins.
Security and Compliance: If security is a top priority for you, MEXC’s robust security measures and compliance with international regulatory standards might make it a compelling option. The platform employs advanced security technologies such as SSL encryption, cold storage for the majority of user funds, and mandatory two-factor authentication to enhance user protection. However, if you prefer complete anonymity, the mandatory KYC process could be a deterrent.
User Experience and Support: MEXC offers a sophisticated yet user-friendly trading platform suitable for both novices and experienced traders. The interface is designed to be intuitive, with comprehensive customer support available through multiple channels. However, if consistent, high-quality customer service is crucial for you, it’s worth noting that while MEXC generally offers good support, there have been reports of variable response times, especially during peak periods.

By considering these aspects in light of your personal trading preferences and priorities, you can better determine if MEXC Exchange aligns with your needs as a cryptocurrency trader.

Mexc compared to other crypto exchanges

Threenvest score

4,4

Fees

0,20%

US Legal

Security

High 4,9/5

Investing risks losing your money

Threenvest score

4,9

Fees

0,08%

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

bingx

Threenvest score

4,7

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

Available Cryptocurrencies and Countries on MEXC Exchange

Available Cryptocurrencies: MEXC Exchange offers an extensive array of over 1,000 cryptocurrencies, ensuring that traders have access to a wide range of digital assets. Some of the major cryptocurrencies available include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Cardano (ADA). These offerings cover various segments of the market, from established large-cap cryptocurrencies to emerging altcoins, providing users with diverse trading opportunities.
Not Available Cryptocurrencies: While MEXC supports a vast selection, certain cryptocurrencies may not be available due to regulatory or strategic reasons. For instance, some newly launched or very niche tokens might not be listed until they achieve a certain level of market cap or compliance.
Available Countries: MEXC is accessible to users in a multitude of countries across the globe, making it a global platform. It operates in major markets such as parts of Europe, Asia, and South America, offering services tailored to meet the regulatory standards of these regions.
Countries with Restricted Access: However, there are important restrictions to note. Notably, MEXC does not offer its services to users in the United States due to the stringent regulatory environment governing cryptocurrencies. Additionally, other countries that may face restrictions include those under international sanctions or where cryptocurrency trading is banned or heavily regulated by local laws.

This broad accessibility, paired with certain exclusions, highlights MEXC’s commitment to compliance while also pointing out the limitations faced by potential users in restricted jurisdictions. Traders interested in using MEXC should first verify whether their country of residence is supported by the platform, ensuring they can legally and securely engage in cryptocurrency trading.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Litecoin (LTC)
Cardano (ADA)
Polkadot (DOT)
Solana (SOL)
Binance Coin (BNB)
Dogecoin (DOGE)
Chainlink (LINK)
Stellar (XLM)
Uniswap (UNI)
Ethereum Classic (ETC)
Vechain (VET)
Tezos (XTZ)

Main countries where you can open an account

Europe: Including but not limited to Germany, France, Italy, Spain, Portugal, Netherlands, Sweden, Poland, and Russia (Note: availability may vary in response to local regulations).
Asia: Countries like Japan, South Korea, India, Thailand, Philippines, Indonesia, and Vietnam.
South America: Brazil, Argentina, Chile, and Colombia.
Africa: South Africa, Nigeria, and Kenya.
Oceania: Australia and New Zealand.
Middle East: United Arab Emirates, Saudi Arabia, and Turkey.

FAQs

What types of trading options are available on MEXC?

Answer: MEXC offers a variety of trading options to cater to different trading styles and strategies. This includes spot trading, futures trading, margin trading, and staking. Each trading option provides unique opportunities and risks, suitable for different levels of trading experience.

How do I deposit funds into my MEXC account?

Answer: To deposit funds, log into your MEXC account, navigate to the ‘Deposit’ section under the ‘Funds’ menu, select the type of currency you want to deposit (crypto or fiat), and follow the on-screen instructions to complete the deposit process. For cryptocurrencies, you will receive a wallet address to which you should send your funds.

Is MEXC available in my country?

Answer: MEXC is available in many countries across the globe, but there are exceptions due to local regulations. Notably, MEXC is not available to residents of the USA, China, and several other countries under financial sanctions. Always check the latest on the MEXC website or contact customer support for the current list of supported countries.

What security measures does MEXC have in place?

Answer: MEXC employs several robust security measures, including SSL encryption, two-factor authentication, cold storage for the majority of the user funds, and a multi-layer, multi-cluster system architecture to protect against potential cyber threats and ensure platform stability.

Can I trade with leverage on MEXC?

Answer: Yes, MEXC provides leveraged trading through its futures and margin trading options. This allows traders to potentially increase their gains, though it also increases the risk of losses. It’s important to understand how leverage works and consider your risk tolerance before engaging in leveraged trading.

How does MEXC handle customer support queries?

Answer: MEXC offers customer support through multiple channels including email, live chat, and social media. Response times may vary depending on the complexity of your issue and current demand for support services. MEXC aims to respond as promptly and efficiently as possible.

What are the fees for trading on MEXC?

Answer: MEXC charges a trading fee which varies depending on the type of trading (spot, futures, etc.) and can be reduced based on your trading volume or if you hold a certain amount of MX tokens, MEXC’s native cryptocurrency. Detailed fee structures are available on the MEXC website under the ‘Fees’ section.

Final opinion on Mexc

At Threenvest, we’ve thoroughly reviewed MEXC Exchange to provide a comprehensive overview of what traders can expect from this platform. MEXC stands out for its extensive range of over 1,000 cryptocurrencies, making it an exceptional choice for users looking to explore a diverse array of digital assets. The platform supports various trading styles with options like spot, futures, and margin trading, complemented by an advanced, user-friendly interface that integrates seamlessly with TradingView for robust technical analysis. This makes MEXC an ideal venue for both novice traders who need simplicity and seasoned traders who require depth in trading tools and market access.

However, no exchange is without its challenges, and MEXC is no exception. While it boasts competitive trading fees and a tiered structure that benefits active traders, the complexity of this fee structure might be daunting for beginners. Additionally, the customer service experience, though generally reliable, can vary under high-demand circumstances, possibly impacting traders during critical market movements. Compared to leading competitors, MEXC offers a solid trading environment but would benefit from further enhancements in customer support responsiveness and educational resources to better support new entrants to the crypto market. Overall, Threenvest believes MEXC provides a robust platform that, with some improvements, could compete more closely with the top exchanges in the crypto space.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money