MEXC Review 2023

MEXC screenshot

MEXC is a leading cryptocurrency exchange and trading platform. They support 1533 coins across 1833 markets.

In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.

MEXC Overview

MEXC was built by John Chen in 2018, and has been in operation since.

The exchange is based in Seychelles, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.

MEXC Services

  • Spot Trading. MEXC allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.
  • Trading Bots. MEXC has trading bots that you can use to automate your trading strategies.
  • Copy Trading. MEXC supports copy trading, an automated method of copying other people's trades; great if you're a newbie, or if you're not the best trader.
  • P2P Trading. MEXC support P2P trading. Where you trade directly with other people through specific payment methods or giftcards.
  • Staking. MEXC allows you to stake your crypto and earn passive income.
  • Launchpad. MEXC has a launchpad for new, exciting tokens. Often low marketcap tokens that are yet to blossom into maturity.
  • Margin Trading. MEXC supports trading on margin. Leveraged trading where you must put up collateral.
  • Futures Trading. MEXC supports futures trading. Derivative contracts that you can trade on leverage without providing margin.

MEXC Payment Methods

MEXC supports 2 payment method(s). You can use the following the deposit/withdraw to/from the exchange.

  • Credit/Debit Card
  • Bank Transfer

Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.

MEXC supports over 3 fiat currencies: EUR, GBP, USD.

MEXC Security

MEXC offers 2 layer(s) of security. Aside from the obvious, email and password.

  • SMS
  • 2FA

MEXC requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.

MEXC Fees

Like other centralized exchanges, MEXC charges fees. This is how they generate revenue, and keep their operation running.

  • Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
  • Withdrawal fees. MEXC charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by MEXC.
  • Kraken's maker fees: 0%*
  • Kraken's Taker fees: 0.1%*

Maker/taker fees are tiered. As you trade more and generate volume, they often fall.

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