MEXC is this a scam? Review and Customers Reviews

MEXC – it’s a trading exchange cryptocurrency which appeared on the financial market in 2018. During this period, the company has actively developed and gained popularity among users around the world.

In our review, we will analyze in detail the opportunities that the project offers to its customers and find out whether MEXC is a scam or a reliable platform for cryptocurrency trading.

 

Why MEXC?

MEXC is cryptocurrency exchange the project is actively gaining in popularity. The project is actively gaining popularity. The company focuses on the international market, as evidenced by the interface of the official site mexc.com translated into nine languages. The main office of the project is located in Singapore, from where the organization is regulated.

The exchange provides users with the opportunity to trade more than 180 trading pairs. BTC/USDT, ETH/USDT, BSV/USDT, XRP/USDT, BCH/USDT, LTC/USDT, EOS/USDT, ETC/USDT, BSV/BTC, ZEC/USDT account for the bulk of the trading turnover. Both fiat and futures trading are available for clients. Also, margin trading is available to users. The company has its own token called MX Token, which provides users with some benefits in the form of discounts (How to Make Money on Cryptocurrency?).

The platform is perfect for advanced traders, thanks to its wide range of features, as well as for beginners. Various training materials are provided for inexperienced traders. The disadvantage is that some of the materials, including training videos, are only in Chinese.

In addition to the standard account, users have the opportunity to open a VIP account. To open this type of account, you must have a daily asset of 30 VT, the quarterly trading fee must be at least 5000 USDT. A VIP account has a number of privileges:

• the ability to withdraw a larger amount daily than regular users;
• commission discount;
• holiday gifts;
• exclusive chat;
• the opportunity to become a regional partner;
• investment advisor;
• annual events;
• other privileges.

The trading platform has two types – basic and advanced. The basic platform is more suitable for making quick deals. Here for the trader all necessary information which should be at hand is presented. Thus, information about the chosen trading pair, order history and chart appears in front of the client.

The advanced version of the platform contains more analytical information with which the user can analyze selected trading pairs to make informed decisions.

In order to keep up with the latest updates on the company’s website, a separate section called “Announcements” has been created. In this way, users can track the latest changes on the exchange. Traders also have the opportunity to participate in the life of the project and vote for the types of cryptocurrencies that are to appear in the listing of the exchange.

It is extremely important for most traders to have constant access to their trading account. That’s why a mobile version of the trading platform was created. Thus, clients can access the exchange 24/7. Both iOS and Android versions are available.

Among the main advantages of the company are:

• a large selection of cryptocurrencies;
• Russian version of the site;
• there is an exchange for fiats;
• margin trading;
• simple and intuitive interface;
• referral program;
• security;
• high volume of trades.

 

How to exchange cryptocurrency on the mexc.com platform?

To proceed to the exchange of cryptocurrency, you should click on the tab “Exchange”, choose the appropriate option of the trading platform and perform a few simple steps:

• choose a trading pair to exchange;
• fill out an order specifying the amount and amount of cryptocurrency to be exchanged;
• click on the “Buy” or “Sell” button, depending on the target.

 

Verification on the MEXC platform

Verification is a mandatory step after account registration. Without verification the user will not be able to withdraw funds from his account. Also, verification is necessary for the safety of your own account. To pass the verification it is necessary to make several steps. First, you need to fill in the following data:

• indicate the nationality;
• name and surname;
• Select the type of identity document;
• specify the document number.

Next, a number of documents must be uploaded:

• photo of the first page of the document;
• photo of the last page of the document;
• photo of users with a spread of the document in their hands and a sheet with MEXC.COM, phone number, name, signature, document number and current date.

Note that there are requirements for photos/scans of documents:

• the content of the photo must be clearly visible;
• Only the jpg image format is supported;
• the size of the image cannot exceed 4 mb.

On average, the verification process takes from several hours to several days.

 

Deposit and withdrawal

To fund your trading account, you need to log in to your profile on mexc.com and click on the “Assets” tab. Next, you need to perform several actions:

• choose a cryptocurrency to refill;
• click “Deposit” opposite to the selected digital asset;
• copy the generated address and paste it where the transfer will be made from.

Withdrawal of earnings

To withdraw your earnings from the platform, you must also enter the “Assets” section and follow a few simple steps:

• choose the cryptocurrencies to withdraw;
• insert the address where the withdrawal will be made;
• specify the withdrawal amount;
• send the transfer to the specified address.

The minimum amount to withdraw is 0.001 VTB or the equivalent amount in another currency.

Cryptoexchange Commission

On the site mexc.com there is a single trading commission for both makers and takers in the amount of 0.2% of the transaction amount.

Withdrawal fees

While there is no fee for depositing, there is a fee for withdrawing earnings, which directly depends on the selected cryptocurrency. For example, for bitcoin the fee is 0.0005 BTC.

 

MEXC bonuses

From time to time the broker conducts various contests, as well as giving bonuses to active users.

Referral program

An affiliate program has been developed for active users who want to earn extra income. As part of the program, clients can attract new participants to the project and receive remuneration for this up to 80% of the commission amount. Also referrers can get a discount on commission.

 

Complaints about mexc.com

Since the project appeared on the Internet relatively recently, you can find a small amount of information from customers, especially from the CIS countries. In general, the company has a positive reputation, although there are some shortcomings. Of the positive aspects of traders note a large selection of cryptocurrencies, user-friendly interface and loyal commissions. The disadvantages include the fact that not all sections of the site mexc.com work and translated into Russian, as well as the obligatory passage of verification.

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Crypto exchange regulation

The financial sphere is one of the most popular among swindlers, which is why a large number of unscrupulous projects appear in the network. To protect yourself from a negative experience of cooperation with fraudsters, it is necessary to check the availability of necessary documents, as well as registration. Let’s consider in more detail how the regulation of the project is carried out. It is known that the organization does not have any license, but this may be due to the fact that the exchange is quite young. All documentation of the project is publicly available to all users. The company’s contact information is also not hidden.

Mexc.com User Agreement

The “User Agreement” is the main document of the project, which every user should read. The agreement contains basic information about the trading process, as well as the responsibilities of clients and organizers. The advantage is that the document is also translated into Russian. Let’s consider some points in detail.

The document clearly states that the company has the right to update the agreement from time to time. That’s why the user should periodically visit the site and independently check for changes. By continuing to use the services of the site, it is automatically considered that the client has accepted the changes in the agreement. Once the amended agreement is posted, the original agreement is effectively superseded. The user can read the latter agreement at any time on the official site. The organizer is not obliged to warn the client about the changes in advance.

The organization provides services to its clients in accordance with availability and status. However, it should be understood that the organizer makes no implied or express warranties, including but not limited to the applicability of the services, the absence of any errors or omissions, consistency, accuracy, reliability and fitness for a particular purpose. Also, the organizer disclaims any responsibility and does not guarantee to users the accuracy, precision, correctness, reliability, quality, consistency, integrity and timeliness of the technology and information related to the service and its services.

Regardless of the circumstances arising, the company disclaims any liability in the event of information network service failures, network connection failures, computer, communications or other system failures, power failures, strikes, labor disputes, riots, insurrections, disturbances, productivity or inadequate production resources, fires, floods, storms, explosions, wars, state lines, judicial administrative command authorities, in the event of

The Customer understands and agrees that the Company shall not be liable for any damages to users, including damages to profits, goodwill, use of data, loss of data, or other intangible losses (whether or not the Company has been advised in advance of the possibility of such damages), if the following situations occur:

• the organizer believes that a particular participant or his/her transaction may be illegal or in default;
• the actions of the trader are suspected as illegal or violate the terms of the agreement;
• costs and losses have been incurred as a result of acquiring or receiving any data, information or transaction through the MEXC service;
• the user misunderstood the principle of the service;
• any other loss that was not caused through the fault of the organizer.

The user accepts the fact that the organization has the right to stop providing services to the client for any reason and without prior notice, if one of these situations occurs:

• the client entered the wrong data during registration, registering under a different name;
• the specified email address does not exist, and there are no other ways to contact the user;
• the information provided by the trader is untrue, inaccurate, untimely or incomplete;
• when the agreement is changed, the client has notified the company that he/she refuses to accept the new terms of service;
• the company believes that the user’s account should be terminated.

The user agrees to the fact that after termination of cooperation with the project, the company continues to have the following rights:

• continue to store user information, as well as information about all transactions;
• the organizer can hold the client responsible if he/she has committed an illegal act or violated the agreement while using the services of the site.

Upon termination of the user’s services, the company will continue or cease to process and bear any disputes the user may have incurred. This means that it is the client who will bear the losses and additional costs that may result from the processing of the transaction. The company is not responsible for any costs incurred as a result:

• digital assets that the user has put on the exchange have not been sold before the termination of the traders’ services;
• when entering into a purchase agreement with another user before the service was terminated, but the contract was not fulfilled as a result.

In this case, the contract cannot be deleted by the organizer, but the company can notify the counterparty.

Customer Service

You can contact the support service by one of the presented options:

• online chat;
• email: [email protected];
• feedback form.

 

Is MEXC a scam?

MEXC – is an exchange for trading digital assets, which appeared on the financial market in 2018. During this period, the project actively developed and became one of the largest. It is known that the official website of the organization is translated into 9 languages, and the company itself cooperates with clients from 70 countries, which indicates the orientation of the exchange to the international market. The project is headquartered in Singapore, where the exchange’s activity is regulated.

The company provides traders with comfortable and favorable trading conditions. More than 180 trading pairs are listed on the exchange. Clients also have the opportunity to exchange fiat currency. Like most major exchanges, MEXC has its own token called MX Token. Token holders have benefits in the form of bonuses, discounts and additional functionality. In addition to a regular account, users can also open a VIP account, which will also provide owners with a number of privileges.

Various promotions and contests are provided for active clients. In addition, traders can earn extra income by taking part in an affiliate program. Thus, the user can attract new participants in the project and receive for this a certain remuneration and discounts on commissions. A mobile app was created to allow clients to access their trading account at any time. Using your smartphone, you can access your profile at any time and from anywhere. Both Android and iOS versions are available.

Although the project has been operating on the market for two years, you can find quite few reviews from clients on the Internet. In general, the company has a positive reputation among users. Having studied in detail the opportunities implemented by the company, is it possible to argue that the exchange MEXC – it is a scam and fraud? No, because the platform successfully operates and provides its services to traders from 70 countries around the world.

 

Conclusion

MEXC – is a cryptocurrency exchange that began its operation three years ago. During this period, the company successfully developed and became a leader in its industry. The organization focuses on the international market, as evidenced by the multilingual interface of the official website of the project.

Clients are provided with not only comfortable, but also favorable conditions for cooperation. However, before registering it is worth understanding that trading itself is a risky process. That is why it is necessary to assess the possible risks and read the necessary documentation on the site. If you have cooperated with the project – leave your impressions about the work of the service on our website to form a fair rating of cryptocurrency exchanges.