MEXC Review 2024 – Features, Supported Cryptos, Staking, Fees, and More

Ranked 16th in terms of trading volume on CoinMarketCap, MEXC has become one of the biggest crypto trading platforms around. It features a lot of innovative trading tools along with an interactive UI to cater to the emerging needs of all users.

In this review, we take a close look at all the amazing features of MEXC. If you are looking to get started with this prominent crypto exchange, we recommend that you read this review to the end.

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Overview of MEXC Exchange

Launched in April 2018 in Seychelles, East Africa, MEXC quickly took the market by storm, climbing the ranks to become one of the top 100 cryptocurrency exchanges in the world. The platform has since climbed the charts to become active in more than 170 countries, catering to more than 10 million users.

The platform’s presence across multiple continents is matched by the fact that it is a regulated exchange. However, the platform states that it is directly regulated in some regions, and in others, the regulation is indirect. This paints an ambiguous picture of MEXC’s regulatory status. That said, some third-party reviews have revealed that it has acquired compliance licenses from countries like the UK, Switzerland, and Canada.

Our review found that MEXC has listed more than 1700 cryptocurrencies and supports more than 2600 trading pairs. In terms of trading features, MEXC supports spot and futures trading. Additionally, the cryptocurrency exchange has recently introduced MEXC loans, which allow investors to borrow crypto at a lucrative interest rate.

Traditional crypto trading aside, MEXC also supports features like Quick buy/sell and P2P trading. With the latter, users who want fast transactions but without getting any intermediary involved can easily exchange tokens with anyone online.

Another feature that sets MEXC apart is staking. Covered in the “Savings” program, this utility lets investors lock their tokens for flexible or specific durations and earn a lucrative APR.

Check our list of the best crypto-staking platforms for more options.

MEXC has gone through major changes in 2023, introducing new features such as the Launchpad and Kickstarter. Furthermore, the exchange has also introduced a MEXC card, which can be used to shop worldwide and top up the crypto balance.

In terms of accessibility, MEXC, according to our review, boasts a simplified UI. Its basic design has been inspired by leading cryptocurrency exchanges, which makes it suitable for all types of traders. Jumping from one section to the next is easy. This ease of access is further complemented by the support for more than 18 languages.

Furthermore, the exchange is powered by a high-performance trading engine capable of performing 1.4 million transactions per second.

These features have supported MEXC’s gaining popularity in the cryptocurrency space. Its first major growth came in 2019, during which it acquired 5% of the global trading market share. In 2021, this exchange was awarded the Best Crypto Exchange Asia award at a Crypto Expo Dubai Event.

In 2023, MEXC stands as the 16th biggest cryptocurrency exchange market capitalization, surpassing the likes of HTX, ProBit Global, and XT.Com. With a score of 6.2, MEXC’s 24-hour trading volume accumulates around the $1.9 billion mark.

Furthermore, MEXC, according to our review, receives over 2.4 million visitors on a weekly basis.

Top Features of MEXC

There are a host of features on MEXC, all aligning with the different needs of investors, quants, and even developers. In this segment of our review, we fully examine some of the top features of MEXC.

A Wide Array of Cryptocurrencies

MEXC supports over 1700 different cryptocurrencies. CoinMarketCap shows that it currently supports over 2k markets, including more than 2600 different cryptocurrency pairs. In terms of fiat currencies that the platform supports, the leading ones include EUR, USD, GBP, VND, RUB, JPY, BRL, TRY, HKD, AUD, CHF, and more. With support for 15 fiat currencies, MEXC stands as a unique exchange with a lot of emphasis on accessibility despite its size.

Furthermore, the exchange is rapidly growing thanks to the listing of multiple new cryptocurrencies. MEXC is generally the first cryptocurrency exchange to list tokens once their presales have concluded.

Check out our list of the best crypto presales in the market right now.

Suitable for New Tokens  

MEXC has transformed into a harbor for newly released tokens. Once a crypto presale is over and the token has gone live on Uniswap, MEXC is generally one of the first centralized cryptocurrency exchanges to pick it up.

Multiple Ways to Buy Crypto

MEXC offers an array of ways to buy crypto. For standard users, there is the debit and credit card. Investors can choose from four different channels if they are using this method: Banxa, Moonpay, Mercuryo, and Simplex.

One of the new ways to buy cryptocurrency that MEXC has introduced is the Global Bank Transfer. It is known as the SEPA bank transfer and comes with a transaction fee. However, this approach is not available everywhere, meaning only citizens from select countries can opt for it. Furthermore, this method is only applicable to those who have completed the advanced KYC proceedings.

Another unique way that MEXC has introduced to buy cryptocurrencies is via the MEXC MasterCard. MEXC MasterCard can also used to buy shop worldwide. However, like the Global Bank Transfer facility, the MEXC MasterCard is only accessible to those who have completed the advanced KYC process. A passport copy and personal photographs are also requirements to get this particular facility.

P2P Trading

For those who want to buy and sell crypto without getting an intermediary involved, MEXC’s P2P trading facility will be the right pick. This simple facility connects multiple crypto traders together, allowing them to exchange crypto assets for fiat or other cryptocurrencies.

So far, this facility is supported only for four cryptocurrencies: USDT, BTC, ETH, and USDT.

Due to the platform’s predisposition to introducing new features, it is likely that more cryptocurrencies will be added to the P2P trading module.

Low Fees for Spot and Futures Trading

MEXC supports both spot and futures trading. The trading interface for both is simple, providing a complete view of an asset’s price action that lets investors make informed investment decisions.

Spot trading on MEXC has also been gaining traction due to the fee structure. The maker and taker fee for spot trading on MEXC is 0%. With futures trading, while the futures maker fee is 0%, the taker fee is only 0.03%.

Native Cryptocurrency

MEXC has its own native cryptocurrency known as MX. This has a total supply of 1 billion, and 40% of the quarterly profits that MEXC earns are used to burn this token. So far, over 568 million tokens have been burned.

The MX token has multiple utilities, including access to MX-exclusive events. These events offer APY rewards for holding MX. For instance, with the Kickstarter event, investors can earn up to 174% APY for holding at least 1000 MX tokens for a minimum of 15 days. This makes MX one of the best staking coins to buy.

Additional perks of holding MX include a discount on futures fees and an increased commission ratio for referring MEXC to friends.

Staking Perks 

One of the leading features of MEXC is staking. There are flexible and locked options available for those who want to hold their tokens and earn lucrative APY. The savings account offers an APY of up to 8.8% for holding USDT. Other cryptos supported under MEXC’s savings mode are DYDX, XRP, BTC, ETH, CORE, GALA, STARL, RACA, XEN, DOGE, SHIB, TRX, and more.

With the Simple Earn, investors can earn up to 1.25% APR, with the savings amount being unlimited. This program only supports four cryptocurrencies for now, including Ethereum, Bitcoin, USDC, and USDT. MEXC savings also has a “New Token Mining” section which revolves around offering staking rewards for newly-released tokens. However, the platform has yet to introduce new projects under this session.

MEXC Loans

MEXC also offers loans to registered users. To become eligible, users must have collateral assets in their spot accounts. The process of acquiring a loan is simple as users are only required to submit a simple application. Once they have repaid their loans, their collateral assets will be released.

For now, this feature is only available for USDT, which can be borrowed by putting TON as collateral.

Futures Trading 

MEXC offers future trading with up to 200x leverage. It also offers this facility at lower spreads. There are two ways to trade perpetual futures. One is through using USDT as collateral, and another is through using the underlying crypto as collateral.

Since futures trading is a risky prospect, we are happy to report that MEXC also delivers a robust tutorial video highlighting the perks and definitions involved in futures trading. The video itself may be 2.5 minutes long, but it gives access to the basics.

MEXC’s futures trading facility is also equipped with real-time data on futures trading and positions, long-short ratios, and liquidations.

Copy Trading 

MEXC Copy trade is a unique feature that allows investors to copy the strategies of professional traders and generate gains. MEXC lists the names of top traders whose investment strategies can be copied. To make it easy for investors to find good traders to imitate, MEXC provides information such as the name of the investor, his risk-taking habits, 7-day ROI, 7-day PNL, 7-day win rate, and more.

However, it is important to note that only a select number of cryptocurrencies are supported in copytrading. Recently, MEXC has added support for MOVR, but more will come as more people become interested in this social trading feature.

Demo Trading Facility 

It is a good idea for investors to check out the features of a crypto trading platform before using it. Therefore, MEXC offers a demo trading facility. Nearly all key buying and selling features are available in a demo trading account, and a fair bit of virtual currency is offered to test these facilities. Investors can also use this feature repeatedly to fine-tune their investment strategies.

The Learn Program

MEXC has also introduced the Learn program. The program offers all the information about crypto. We liked that MEXC is not afraid of teaching about things from the very basics. Beginners can go to Blockchain Encyclopedia, which MEXC has dubbed “Blockchain 101,” to learn about the basic fundamentals of blockchain and the definitions of the leading cryptocurrencies.

For those looking for a more textual approach to their tutorials. MEXC offers multiple articles. These cover multiple aspects of crypto trading, even the complex ones such as margined swaps, futures trading operations, and the definition of terms on the futures trading page.

Additionally, the Learn program also offers marketing insights. These are long-form articles providing a comprehensive analysis of the crypto market as well as a comparative analysis of different cryptocurrencies.

Also, check out our list of the best cryptos to buy.

How Does MEXC Work?

MEXC offers multiple ways to buy cryptocurrencies. Once investors have created their accounts, they can go straight to the “buy crypto” section and buy cryptocurrencies using debit or credit cards. Visa and Mastercard are the default options available. Maybe an American Express card is also available, but the details about it are not clear.

When it comes to the fiat that can be exchanged for crypto, investors can pick between 15 different options.

Investors can also pick the “Quick Buy” option to buy cryptocurrency via SEPA.

Those looking to interact with the more nuanced features of MEXC, i.e., the spot and futures trading, must have a MEXC wallet. It operates as a hot and cold wallet, helping users store, manage, and transfer any crypto that the exchange supports. The wallet itself is user-friendly and fit for both beginners and veteran investors. These features make the MEXC wallet one of the best DeFi wallets in the market.

There is also a multi-platform MEXC app that offers features like low fees and high execution speeds.

Once investors start interacting with the spot and futures trading sections, they can check out the candle charts to analyze the market. There are 21 indicators, including moving averages, Bollinger bands, MACD, KDJ, DMA, and more.

After users have completed their transactions, they can withdraw their crypto assets to their MEXC wallet. The withdrawal fee for buying crypto varies depending on the crypto. Buying USDT on the OMNI layer, for instance, will cost 20 units.

The tokens bought from MEXC or held in the MEXC wallet can be used in the multiple staking options available under the savings section.

Investors looking to compound their gains even further can participate in specific events. These events often consist of giveaways. Generally, these events are associated with new token listings, during which investors can commit a set number of MX tokens to the price pool.

While most of the trade-related features are meant for registered users, certain education-focused sections, such as the Learn Program, are for everyone. Those interested in learning can simply come to the platform, navigate to the learn section, and start reading or watching videos about cryptocurrencies.

Alternatively, beginners can also leverage our guide to discover some of the crypto assets with the most potential.

MEXC Security Features

The cryptocurrency exchange pays a lot of emphasis on security, with multiple safeguards in place to protect investor’s interests. Our review also found that MEXC complies with Anti-Money Laundering laws (AML), which means that standard security systems are available.

Furthermore, the platform is compliant with the UK’s Financial Conduct Authority and the Cyprus Securities and Exchange Commission.

Other measures that MEXC has taken in order to protect investors are as follows:

1. Encryption: MEXC has employed SSL/TLS encryption to maintain the quality of web traffic and Data-at-rest for shielding data in the servers.
2. Cold Storage: A significant portion of crypto assets on MEXC are stored on offline servers.
3. KYC: In order to deter any bad actors, MEXC has implemented Know-Your-Customer protocols.
4. Compliance Checks and Regular Audits: Per the website, regular audits are conducted in order to ensure that all the systems are working properly and all the data is secure. MEXC also states that it has stayed “incident free” since the beginning.

MEXC Customer Support

In this segment of this review, we briefly discuss the customer support service of MEXC. Without a doubt, its customer service is exceptional, with round-the-clock support and multiple ways to interact with the team.

1. Live chat: MEXC has a robust outlook on its live chat feature. This feature is accessible to even the unregistered. Furthermore, there is a robust FAQ section built into its chatbot.
2. Supports multiple languages: Since MEXC is available in 15 languages, customer support follows the same approach. Investors can ask queries through any of the supported languages.
3. Robust FAQ section: To help investors deal with standard issues, MEXC features a good FAQ section. This section covers everything from supported crypto to information about the latest updates in the crypto space.
4. Multiple social media channels – Investors can keep in touch with MEXC’s updates through its website and social media channels. From what we have seen, these channels are always active and always up to date with the latest developments in the cryptocurrency space. The MEXC Official Twitter channel has over 1 million followers already.

Reasons to use MEXC Exchange

While MEXC first experienced the winds of growth in 2021, it has quickly risen in rank among the best cryptocurrency exchanges in the market since the middle of 2022. The exchange is always listing new cryptocurrencies, giving users a way to diversify their portfolios easily. Traders can easily find some of the most promising crypto coins in the market on the platform.

Furthermore, MEXC’s UI is quite reliable when it comes to interacting with spot and futures trading.

Multiple Cryptocurrency Listings Every day 

Unlike high-tier exchanges that put too many caveats when listing cryptocurrencies, MEXC is happy to give beginners a chance. The platform plays host to multiple newly-arrived crypto assets. These assets are often fresh out as presales and ICOs, giving investors a chance to gain from the listing pump.

According to CoinMarketCap, MEXC covers 2198 markets and has listed around 1776 cryptocurrencies. The listed assets are categorized on the basis of innovation, assessment, chains, meme coins, Bitcoin inscription, Optimism, GameFi, ZK, Real World Assets, Web 3, SocialFi, Mainstream, and more.

Users can pick the asset they truly want to invest in through this simplified approach.

Presence of Macro Data

Those looking for a macro view of the overall market can interact with MEXC’s Macro Data. Available in the “Markets” section, this data gives a bird’s eye view of the current state of the crypto space.

At the top, it presents a forecast of BTC. The trend can go from bullish to bearish. For instance, Bitcoin’s trend at press time is 61.53% bullish and 38.47% bearish.

You can also check out our Bitcoin Price Prediction article.

Additionally, MEXC’s Macro data also offers trend comparisons between multiple assets. These can be standard crypto assets or traditional assets. This feature is also good for those looking for expert insights about certain crypto-related topics.

Another unique attribute that Macro Data provides is access to Hotspot News. Little snippets of news pieces cluster at the bottom of the screen, giving users precise updates about the crypto ecosystem.

Simplified User Interface

One of the biggest complaints people have had about crypto trading platforms is the user interface. Many of them only feign being unique and user-friendly. However, upon checking them out at a deeper level, people often find the platforms ripe with complex modules.

MEXC is different. The user interface delivered on this platform is worth counting on. Although the navigation bar is inspired by some of the higher-tier cryptocurrency exchanges, MEXC has found a way to make them more reliable. The markets section, for instance, offers unique categories that don’t need any deciphering. Beginners can simply look at them and know what they are about.

Also, check out our list of the best trading platforms for beginners.

Learning Module

MEXC’s Learn Program is one of its highlights. While the program was only basic when it started, it has evolved over the years, covering everything from basic knowledge to advanced information.

This program does not contain any conditions. Even unregistered users can access it. The language used to present crypto-related information is simple. There is no complicated jargon, nor are there any complex terminologies about the market. In fact, MEXC has gone above and beyond to provide a glossary explaining all the complex terms.

While most of the information provided is in the form of tutorials, key details like how to use spot trading and futures trading features are covered using short videos. With time, it is likely that more video-based tutorials will be introduced.

You can also check out our guide to discover the best crypto courses to learn this year.

Regular Giveaways 

In this review, we discover that MEXC usually organizes regular giveaways for its existing user base and even new followers. Recently, it organized a 500 USDT giveaway to existing users who wish to share their journey with MEXC through their Personal Annual Report.

🎉 500 USDT Lucky Draw!

🌟 Delighted for an amazing #2023withMEXC?
🚀Share your journey with us through your Personal Annual Report!

🍀50 Winners x 10 USDT✨

Enter now:
1⃣Follow, Like and Quote Tweet
2⃣Share at least one page of the report with #2023withMEXC
3⃣Tag 3 friends… pic.twitter.com/QaU2akt5E6

— MEXC (@MEXC_Official) December 28, 2023

These giveaways are quite common and often contain different perks. Some of them, like the Kickstarters, often come with large Annual Percentage Yield (APY) rewards.

1⃣Hold 1,000 $MX
2⃣In the APP, go to #Kickstarter and #Launchpad
3⃣Quick Commit to grab them all! pic.twitter.com/ybPQwzesHw

— MEXC (@MEXC_Official) December 30, 2023

How to Open a MEXC Account

In this session of our review, we present a step-by-step guide on how to open an account on MEXC.

Step 1: Visit the Official Website 

First off, visit the official MEXC website and start the registration process. Click on the login/sign up button present at the top of the screen and either enter your email or phone number to get started.

Step 2: Enter the Email and Password 

Enter your email and password to proceed. We recommend using a strong password. For Chrome users, a strong password can automatically be generated and saved for their MEXC accounts.

Once the password is entered, MEXC sends an email with the One-Time Code. Enter the code in the given region, and the website’s dashboard will become accessible.

Step 3: Interact with the Pop Up and Start Using the Platform

MEXC’s pop-ups often contain critical reports and a chance to participate in the latest projects. Interact with them if you wish, or press the cancel button to start using the platform.

Step 4: Deposit the Amount 

To start trading on the spot trading exchange, click your account’s icon and click on spot trading. Proceed to click on deposit on the top of the screen. Proceed to enter the wallet address and the type of token you want to deposit and proceed.

MEXC Review – Our Verdict

Now that Bitcoin is slowly emerging out of its lows and reaching out to get back on the high ground, people are getting more interested in the cryptocurrency market. However, newcomers are looking for an exchange that can be trusted and easily utilized. MEXC meets both of these requirements.

With its top-tier security features that focus on simplicity, MEXC has so far remained incident-free. And considering that the exchange supports more than 1700 cryptocurrencies, investors won’t have any issue picking the ones that suit their requirements. Other features like staking and savings are here for passive investment seekers and those who only want to hold their tokens and generate profits passively.

Complementing these perks is a unique UI that takes inspiration from the biggest cryptocurrency exchanges. However, MEXC puts a unique spin on them by making them more user-friendly. And for those who even find the existing modules complex, MEXC hosts a learning program that covers everything from the basics.

Overall, MEXC is shaping up to be a beginner-friendly cryptocurrency exchange. It is likely that constant developments and the arrival of new tokens will further bolster its trading volume, helping it jump from being one of the top 20 cryptocurrency exchanges to reaching the top 10.

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