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To establish a MEXC account, you must validate an email address and accept the platform’s terms and conditions. Account creation can be accomplished through the mobile application available on the Android Google Play Store and IOS, a desktop application for Windows, or an internet browser.

 

Join Here: https://www.mexc.com/landings/CheekyCrypto?handleDefaultLocale=keep&inviteCode=mexc-1VpTY

 

Account verification can be accomplished for both individual and institutional users. Individual accounts are the default account type. The initial account level caps daily BTC withdrawals at 10 BTC.

 

Enhancing KYC verification elevates withdrawal limits from 10 BTC to 40 BTC per 24 hours. The highest KYC level permits 100 BTC withdrawals within 24 hours. Achieving primary KYC requires submitting a photographic ID, such as a passport or driver’s license. Once MEXC approves this verification, the account’s 24-hour withdrawal limit increases to 40 BTC.

 

Verified Plus, the pinnacle of individual account verification, enables 100 BTC withdrawals within 24 hours. This level is attained by submitting an additional photographic ID and verifying identification through facial recognition. This represents the highest level of verification possible for individual accounts.

 

Institutional verification differs slightly. Opening an institutional account necessitates submitting the following documents:

  • Board of directors’ resolution documents
  • Memorandum and Articles of Association
  • Company registration certificate
  • Copies of the shareholder and director registers
  • Identification documents for directors, authorized representatives, individuals managing or leading the company, and all ultimate beneficiaries accounting for 25%
  • Company structure (illustrating the organizational chart of all ultimate beneficiaries)
  • Screenshot of company registration information obtainable from the government website

 

Upon account establishment, institutional accounts permit withdrawals of up to 200 BTC within 24 hours.

 

The MEXC exchange is accessed through the ‘Market’ tab. By default, the list of tokens and coins available on the spot markets is displayed upon selection. The top of the page features a collection of tabs that allow you to filter the displayed cryptocurrencies based on their category.

 

To trade on MEXC, choose the ‘Trade’ option for the cryptocurrency you wish to purchase. This will open a TradingView chart of the cryptocurrency asset’s recent price action. This chart can be customized to your liking with your preferred metrics and time frames.

 

On this menu, you can purchase cryptocurrencies directly using market orders or place limit orders to execute trades at specific price points. The MEXC exchange is straightforward and clear for experienced cryptocurrency traders, but beginners may find it more challenging. The absence of a quick swap function and the exchange’s overall number-heavy aesthetic may deter beginners. Additionally, during a brief examination of the site, it was observed to be buggy and slow to update.

 

To purchase crypto directly with fiat on MEXC, you must complete KYC verification. Once this is done, you can buy crypto with a card on their P2P marketplace, where you buy crypto or fiat directly from other MEXC users. This marketplace can be expensive to use as the platform sets their prices independently of centralized control. Crypto can also be bought directly with your debit card from MEXC via third-parties.

 

An alternative method of funding your MEXC account is by sending cryptocurrency assets into your MEXC wallet. To do this, go to the ‘Assets’ tab and select the ‘Deposit’ option next to the cryptocurrency you wish to deposit. You will then need to select the chain you wish to send your cryptocurrency on and copy the generated address. Paste this address into your wallet to send the funds over.

 

To withdraw funds from MEXC, follow these steps:

  1. Go to the ‘Wallets’ tab and select the ‘Withdraw’ option next to the cryptocurrency you wish to withdraw.
  2. Paste the receiving wallet address into the ‘Fund Destination’ field.
  3. Enter the amount you wish to withdraw and click ‘Withdraw’.
  4. Review the withdrawal details and confirm the transaction.

 

Please note that withdrawals from MEXC are processed in reverse order, so the most recently deposited funds will be withdrawn first. Additionally, there may be a withdrawal fee associated with the transaction. You can check the current withdrawal fees for each cryptocurrency on the MEXC website.

 

To enhance the security of your MEXC account, you can implement additional security measures. Upon neglecting to establish these safeguards, MEXC will issue a notification each time an action is performed that elevates your account’s risk level. To eliminate these notifications, you can link a phone number, activate Two-Factor Authentication (2FA), and set an anti-phishing code to your account. These measures provide an additional layer of protection. If you choose not to provide this information, you can silence the notification for 24 hours. However, this poses a significant security risk as your account remains susceptible to hacking and unauthorized withdrawals without the added protection of 2FA.

 

MEXC offers a wide range of financial products beyond its traditional exchange. The platform features a derivatives section that enables users to trade various cryptocurrencies across diverse derivatives markets. The MEXC Margin tab allows users to purchase margin tokens with predetermined margin levels. Utilizing margin empowers traders to amplify their potential gains compared to employing solely spot tokens. However, this approach also exposes traders to elevated risk of incurring substantial losses. Unlike conventional derivatives markets where traders can customize their leverage, MEXC margin tokens restrict traders to purchasing tokens at a predefined, predetermined leverage.

 

This system mirrors the MEXC ETF market, where users can acquire a selection of cryptocurrencies at either 3x long or 3x short. Similar to the simplified margin section, this feature simplifies intricate derivatives products, making them more accessible to novice traders. However, this approach may not cater to the needs of more experienced traders.

 

MEXC also offers a futures market, enabling users to trade futures on the MEXC platform.

The ‘Earn’ tab presents various avenues to accumulate cryptocurrencies through MEXC. Launchpad empowers users who hold the MX token to gain early access to projects introduced on the MEXC website. This product functions similarly to a launchpad, but token allocation is determined by the quantity of MX tokens staked. This mechanism aims to incentivize all MX holders to stake tokens in exchange for access to launch events.

 

The Kickstarter section allows users to vote on forthcoming releases on the MEXC platform. Projects that garner sufficient votes from users and adhere to specific parameters set by MEXC will be launched on the platform. All individuals who voted for the project’s inclusion receive an airdrop of tokens as a reward for supporting the project.

 

In addition to these products, MEXC also provides ubiquitous staking platforms, enabling users to stake individual assets on their platform to receive token rewards. Moreover, access to the Polkadot slot auctions and Ethereum 2 staking protocols is also available.