MEXC is widely recognized as a cryptocurrency exchange globally. MEXC occupies 14th place on Coingecko’s ranking of centralized exchanges. Not only can users have access to trade over 1500 cryptocurrencies, but they can also trade ETFs with up to 125x leverage, perpetual contracts, NFT indices, and more
In this post, Betomon would like to guide you on how to register for a MEXC account (formerly known as MXC) to buy, sell, and trade potential cryptocurrencies.
What is MEXC exchange?
MEXC exchange (previously called MXC exchange) is the world’s leading digital asset exchange, established in April 2018. The platform was formed in Singapore by a group of senior experts from Wall Street and Blockchain technology specialists from Japan and Europe.
Within less than a year of its operation, the exchange has grown rapidly; by 2019, it held 5% of the world’s largest digital asset market and was highly regarded as the most popular and best site of cryptocurrency trading worldwide.
In addition, MEXC also provides Blockchain asset circulation services to improve security, intelligence and convenience.
Besides, MEXC currently offers many features such as token trading, OTC trading, financial products, and smart contracts as well as supporting six languages: Chinese, English, Vietnamese, Korean, Japanese, and Indonesian.
The MEXC exchange’s 24-hour trade volume was around 448 million USD (updated on July 30, 2021, according to the Coingecko site). There are 929 distinct cryptocurrency pairs available for you to trade on the USDT, ETH, BTC, and MX market
Overview of MEXC exchange:
- Official website: http://www.mexc.com/
- Head office: Singapore
- Established: 2018
- Number of available cryptocurrencies: 1500+
- Trading pairs: 2100+
- Deposit: No minimum required, Free
- Transactions and withdrawals: It’s free for the creator, the recipient normally costs 0.2% and depends on the network
- Trading methods: Spot, ETF, Margin, OTC, Futures Contracts, PoS, staking…
- Compatible devices: Both Android and iOS operating systems
- Customer support: 24/7 via both live chat and email
- MEXC offers highly competitive transaction rates; depending on the platform requirements, certain transaction types are free, while others have very tiny fees ranging from 0.01% to 0.06%. Deposit fees are between 3 and 5%.
Characteristics of MEXC
More than 1500 cryptocurrencies and more than 2100 pair trading techniques are accessible for traders and investors on the MEXC platform
Leveraged ETFs, perpetual futures, NFT indices, synthetic portfolio management, and many more services are among the investment methods that MEXC provides. MEXC’s API is available to technology developers so they can integrate data endpoints into their DAPPs. In more than 70 countries, MEXC currently has a global user base of over 7 million.
MEXC offers a variety of deposit options to its clients by collaborating with different third parties. So that, you can use Apple Pay and Google Pay, or you can utilize the most widely used payment methods such as Visa, Mastercard, and bank transfers to buy cryptocurrencies directly
MEXC exchange evaluation
Advantage
MEXC exchange has many services: You can experience a wide range of features and markets on the MEXC exchange, including spot trading, smart contract trading, and other fascinating reward schemes for MX holders (MX is the exchange’s token). Furthermore, MEXC offers OTC services for purchasing Crypto with a debit/credit card.
Strong security: MEXC permits an anti-phishing security layer to validate official information from the transfer besides KYC’s identity verification process.
You are allowed to withdraw cryptocurrency without KYC: MEXC allows customers to withdraw up to 5 BTC each day without completing KYC. The withdrawal limits will increase after it is finished.
Referral commission up to 50%: Depending on the number of MX possessed, MEXC’s referral commission system ranges from 30% to 50% :
Spot:
- Under 10,000 MX: 30%.
- 10,000 – 100,000 MX: 40%.
- Over 100,000 MX: 50%.
- Partners will have different policies.
Future:
- Under 10,000 MX: 10%.
- 10,000 – 100,000 MX: 20%.
- Over 100,000 MX: 30%.
- Partners will have different policies.
Disadvantage:
Interface complexity: MEXC’s interface is fairly dense with information and not easy to use for beginners. However, MEXC offers appropriate Standard and Advanced versions to support all types of traders, so you can quickly get used to it.
The system contains some word errors: MEXC still has Vietnamese font errors even though it has supported Vietnamese for a long time. Besides, when I experienced it, I noticed that the exchange had some “freezing” errors in certain features related to deposits and withdrawals.
Low liquidity: MEXC is only outside the top 10 exchanges with Volume in 24 hours so it can be considered to have quite little liquidity. In comparison to Binance, Okex, Huobi, and other exchanges, MEXC is regarded as a “secondary” exchange. However, MEXC will also have the slight benefit of having more flexible exchange listing requirements for new projects.
Overview of MEXC exchange
You will notice plenty of different sites on the MEXC exchange homepage, I will explain in detail below!
MEXC official website: www.mexc.com
Each feature has its own meaning as follows:
1. Market: Basic information about trading pairs on MEXC such as price, volume,…
2. Buy Crypto: A place to buy and sell OTC with others, it requires you to KYC, and supports payment via VND.
3. Trade: A place where users participate in Spot and Future transactions.
4. Future: Including an array of tools and services for trading derivatives as Copy Trade, COIN-M, USDT-M, and Demo Trading.
5. Earn: Focus on DeFi products that allow users to make money such as Staking, Mining, Launchpad,…
6. ETFs: A range of services related to ETFs such as Leveraged ETFs, Index ETFs.
7. Get $1,000: Including every step necessary for determining an account. After finishing, you will receive a little cash to use for playing Futures
8. Learn: A place that offers essential crypto articles with definitions, usage guidelines, and beneficial tips.
9. Futures M-Day: events involving futures trading and get free token rewards.
10. Log in: Log in to your account on MEXC.
11. Sign up: Make an account on MEXC.
12. Download: Download version for phones and computers.
13. Language: Transfer of languages
14. Currency: Transfer of currencies.
15. Preferences: The settings related to the trading display, consist of time, coin/token listing details, order book, interface, and chart color.
Betomon will introduce the fundamental trading site interface with 7 areas as follows:
1. Orders to sell Crypto on the market.
2. Orders to buy Crypto on the market.
3. Price chat
4. Orders to sell/buy Crypto with 2 types of orders: Limit Order and Trigger Order. Moreover, It will automatically change to the lever token (leveraged token) when you click on it as it also integrates levers .
5. A place to divide by preferred assets, trading pairs by coins,…
6. Real-time transaction history.
7. A place to display placed orders, order history and transaction history.
Instructions for signing up on MEXC exchange
Prepare before registering for MEXC:
- Email or phone number regularly used.
- Download the Google Authenticator
- Some personal documents such as identity cards, driver’s licenses, passports…
Registration procedures for MEXC accounts
Step 1: Visit https://www.mexc.com/register to sign up an account.
You can register by email or phone number. I decided to sign up via email here.
Step 2: Fill in Email and password. You should set a password that consists of the following to be secured:
• 10-128 characters.
• At least one lowercase letter and number.
• At least one uppercase letter and special character.
Step 3: Click on the I have read and agree to the… , then select Sign Up. To verify the robot, an image will appear on the screen; all you have to do is pick the icons in the image in the correct order.
A six-digit verification code will be sent to your email, enter the code in the boxes and choose Confirm.
Then, you have now successfully registered for a MEXC account. At this point, further details will show up in your menu bar, including:
• Wallets: Overview of wallet value, assets and transaction history.
• Orders: Your placed orders such as Spot, Margin, Index, Futures, and others.
• Account: Options allow you to set up your own information such as personal information profile, identity verification, security settings, API,…
• Messages: The latest messages on the site.
KYC identity verification
For those who do not understand what KYC is and why it is necessary: KYC stands for Know Your Customer. This is the procedure used to gather identifying data about users of a particular service. The typical information that is gathered includes portrait photo, ID number, passport, address,… The KYC process intends to prevent unqualified users from accessing a service. These requirements might vary depending on the particular unit.
Follow these steps to confirm your identity on MEXC:
Step 1: Begin at the interface’s home page, in the Account section, select Identification.
After that, the following two boxes require to be verified:
• Advanced KYC: providing facial recognition and personal data to complete advanced KYC. You can increase your 24-hour withdrawal cap to 200 BTC by using this option.
• Primary KYC: Providing only your personal data to complete basic KYC. You can raise your 24-hour withdrawal cap to 80 BTC by using this option.
In order to enhance security, I proceed with Advanced KYC.
Step 2: Select Verify in the Advanced KYC section → Select nationality and one of three options (ID number, driver’s license, Passport) → Select Confirm.
Step 3: To start the KYC verification process on MEXC, you need to prepare the ID card you chose in the previous step. Click on Start.
Step 4: Decide on the upload method for the images. You have the following options:
• Continue on mobile
• Take photo using webcam
• Upload file from this device
To complete the form, select the most applicable and convenient one and send in the required images, such as your front and back ID card and a face verification image.
After all of the images and data have been entered, the screen looks like this. You just need to wait for MEXC to send you an email confirming the successful KYC, and you’re done.
Setup instructions for the MEXC account security
Create an anti-phishing code.
An anti-phishing code identified as An anti-malware character assists users in recognizing an official website or email from an organization, preventing data from being stolen by fraudulent activities. Follow these processes for making anti-phishing code on MEXC:
Step 1: In the Account symbol, choose Security then scroll down to the Anti-phishing Code and select Set Up.
Step 2: Enter the characters for Anti-phishing as required (including 1 to 6 alphanumeric characters), and finally press Confirm.
Verify phone number/Email
Based on the information you used to register for your account, this verification step will differ. You need to provide your phone number if you signed up with email, and vice versa.
Since I created my account via email, I’ll use the following procedures to verify the phone number in this section:
Step 1: In the Account sign, select Security → In the Mobile Verification section, select Enable.
Step 2: Type your phone number into the Mobile Number boxes → click on Send Now in the Email Verification Code and SMS Code boxes.
Step 3: Complete the Email Verification Code box with the code sent to your email. In the SMS Code box, MEXC will send you the code via a call.
Note: The validity of these two codes is limited to 120 seconds. You have to ask for a new code in case you still haven’t entered the code after 120 seconds.
Step 4: Select Confirm to complete the phone number verification process.
Enable 2-step 2FA security
Implement these steps to activate MEXC’s 2-layer 2FA security:
Step 1: In the Security section, through the MEXC/Google Authentication, select Set Up.
Step 2: Choose the Next Step option in Step 1 then in Step 2, the following QR code will be shown
• If you already have the Google Authenticator app, open the app and scan this QR code to receive the verification code.
• If you don’t have it yet, install the Google Authorizer app. The code will then be obtained by scanning the MEXC QR code.
Step 3: This step will ask you to save the privacy code in a secure place to prevent you from misplacing or replacing your phone. Then click on Next Step.
Step 4: You must enter the following codes in this step:
• Password Settings: Enter your account password on MEXC.
• Mobile Number: Click on Send Code to get the code to your phone.
• SMS Code: Enter the code sent to your phone.
• MEXC/Google Authenticator: Enter MEXC code on Google Authenticator.
Choose Enable after you’ve entered valid codes to activate your MEXC account secure with 2FA.
Guidelines for making deposits and withdrawals on the MEXC exchange
Deposit to MEXC exchange
Take the procedures below to deposit into MEXC:
Step 1: On the home page interface, select Wallets → Overview → Deposit.
Step 2: In the Tokens section, select the coin/token you want to deposit into the MEXC wallet→ In the Available Network section, choose the token’s corresponding network → select Click to generate the address to receive the address for depositing coins/tokens into the exchange
Step 3: Use the address you received above to make a payment. To prevent losing money when sending to the incorrect network, make sure you select the correct network from the list of available networks.
Withdraw money out of MEXC exchange
The procedures for withdrawing money are similar to depositing tokens by following these tasks:
Step 1: On the home page, go to Wallets → Overview → Withdraw.
Step 2: The platform will show you with some reminders. Check them carefully and tick the blank boxes one by one. Finally, select OK
Step 3: Enter information in the boxes below sequentially
• Tokens: Select the token you want to withdraw.
• Address: enter the wallet address you want to send tokens to.
• Withdrawal: select the corresponding network.
• Amount: Enter the amount of tokens you want to withdraw.
Then click Submit to complete the withdrawal.
Basic trading instructions on the MEXC exchange
Trading by Limit orders
Buy and sell orders can be placed on the order book at the desired price with a limit order on MEXC. I’ll use the BTC/USDT trading pair as an illustration in this case.
Step 1: Use the market buying and selling prices or enter your own price in the Price box.
Step 2: Enter the desired volume or drag the bar to change the percentage of the total capital that you would like to buy or sell in the Amount box. The distinctive feature is that you are not constrained to set percentages, you can adjust any percentage of purchases and sales in the total capital.
Step 3: Click Buy BTC or Sell BTC to make a buy or sell order.
Trading by market orders
A Market orders is similar to a Limit orders, but it specifies the lowest price to be sold or the highest price to be purchased, It indicates that you will buy or sell tokens at that time. When implementing market orders, you can enter the USDT value you want to process and click Buy or Sell. The system will then automatically match the order for you; you do not need to ( and cannot) set the price you want to buy or sell.
Thus, trading by market orders is as simple as listed below:
Step 1: In the Total box, place the number of tokens or drag the bar to change the percentage of the total capital that you would like to buy or sell .
Step 2: Select Buy BTC or Sell BTC to create a buy or sell order.
Trading by Stop-Limit order
Similar to a limit order, however, a stop-limit order can help you maximize the buying or selling price as you know the best price thanks to technical or fundamental analysis.
Step 1: In the Trigger Price box, enter the Trigger price (resistance level – the needed condition to meet the buy/sell price to be executed).
Step 2: In the Price box, enter the price you want to execute the buy or sell order.
Step 3: In the Amount box, set the number of tokens. You can use the adjustment bar to change the purchase amount by the percentage of capital.
Step 4: Click Buy BTC or Sell BTC to place an order.
For better comprehension, below is an example of a Stop-Limit order placement:
In case you predict a price will rise: The current BTC price is 10,000 USDT and the resistance is around 10,300 USDT. In order to purchase BTC at a price higher than the resistance level, the Stop-Limit can be set as follows:
• Trigger Price: 10.300 USDT
• Price: 10.350 USDT
When the BTC price reaches 10,300 USDT, an order to buy BTC at 10,350 USDT or lower will be conducted.
In case you predict a price drop: The current BTC price is 10,000 USDT and the support level is 9,700 USDT. To sell BTC for less than the current support level, place the following order:
• Trigger price: 9.700 USDT
• Price: 7.650 USDT
It will match an order to sell Bitcoin at 7,650 USD when the price drops to 9,700 USDT.
Directions for trading futures contracts on the MEXC exchange
MEXC only allows you to use the leverage feature when trading futures contracts. The MEXC exchange currently supports leveraged trading of a variety of assets, including common assets like BTC, ETH, XRP,… These are some of the trading steps:
Step 1: On the home page of MEXC, select Futures.
Step 2: Adjust the leverage level you want in Isolated.20X. Similar to placing orders on many other margin trading exchanges, you can set up long and short orders here. But for MEXC, this kind of transaction is only available for transactions involving futures contracts and does not extend to crypto-crypto transactions.
Leverage levels up to 200x are supported by the MEXC platform. In addition, you can modify the leverage without using round numbers (10x, 25x, or 50x); it can be 23x, 37x, 79x,…
Step 3: In the Price box, enter the price you want to place the order.
Step 4: In the Quantity box, enter the number of tokens. You can change the purchase amount by the percentage of capital by using the adjustment bar.
Step 5: (Optional) Choose the Take Profit and Stop Loss levels in the Long, Short TP/SL section.
Step 6: Select Open Long if you want to make a buy order. Select Open Short whether you want to place a sell order.
Common inquiries regarding the MEXC exchange
Is the MEXC exchange reliable?
Coingecko has given MEXC a rating of nine credit points, recognizing it as a fairly credible exchange in the field of cryptocurrency. Additionally, MEXC announced Proof-of-Reserve at the same time to guarantee that user resources are entirely stored on the exchange.
Has the MEXC exchange ever been hacked?
Since it was launched, the MEXC exchange has never been hacked.
Does MEXC exchange require KYC?
MEXC exchange does not require KYC when enrolling in an account.
What is the MEXC exchange’s withdrawal limit?
The daily withdrawal limitation for accounts without KYC is 30BTC. The withdrawal cap will be increased when users complete KYC, depending on the level:
- With the basic level, the limitation is 80 BTC per day.
- With the advanced level, the limitation is 200 BTC per day.
What is the MEXC exchange’s trading fee?
Transaction fees on MEXC are available here.
How to contact MEXC’s customer service department?
You can click the icon below to get in touch with MEXC customer service if you have any issues with your account while using.
What is MEXC’s exchange coin?
The MEXC exchange’s coin is called MX. MX is applied for the following uses:
Reducing transaction fees
Using MEXC products such as: Launchpad, Kickstarter
>>> Frequently asked questions about the MEXC exchange
In conclusion
Established in 2018, MEXC is a cryptocurrency exchange that is presently ranked 14th out of all centralized exchanges by Coingecko. Coin68 hopes that after reading this post, you will have an understanding of the basics of the MEXC exchange.
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