The variety of places to trade cryptocurrencies is mind-blowing. MEXC is one of the top exchanges these days, especially in Asia.

In this article, we'll talk about the MEXC cryptocurrency exchange, its pros and cons, and provide instructions for a quick start.

MEXC Cryptocurrency Exchange: Pros and Cons

The MEXC cryptocurrency exchange is a real phenomenon in the market. The exchange was founded in 2018 and quickly gained popularity among traders worldwide.

The platform won the "Best Crypto Exchange in Asia" award in 2021.

The exchange also has its own MX token.

Clients from North Korea, Cuba, Sudan, Syria, Iran, Crimea, mainland China, Indonesia, Singapore, Venezuela, the US and Canada can't trade on the exchange.

We can highlight the following advantages of the MEXC cryptocurrency exchange:

• Wide selection of cryptocurrencies and trading pairs. MEXC offers over 2,000 cryptocurrencies and more than 1,600 trading pairs, making it one of the most diverse exchanges in the market. Such a wide selection allows traders to diversify their portfolios and find attractive investment opportunities;
• Low fees. One of MEXC's main advantages is its low fees. The exchange doesn't charge any fees for spot trading, and the futures trading fee is only 0.01% for takers and 0% for makers. This makes MEXC one of the most cost-effective exchanges for active traders;
• Security and reliability. MEXC places a strong emphasis on the security of users' funds. The exchange uses a multi-tier cold storage system, two-factor authentication, and regularly conducts security audits. Moreover, MEXC is licensed in several jurisdictions, including Australia and Estonia;
• User-friendly interface and mobile app. MEXC's interface is easy to use and intuitive for both beginners and experienced traders. The exchange also offers a mobile app for on-the-go trading, providing additional convenience.

These are far from all the advantages of this exchange. It would take quite a bit of time to list them all here.

However, there are also some downsides:

• Limited fiat operations. This exchange doesn't allow you to directly buy or sell cryptocurrencies for fiat money. Users first need to acquire crypto on another exchange or through an exchanger, and then transfer it to MEXC for trading;
• Regulatory issues in some jurisdictions. Despite being licensed in several countries, MEXC has faced regulatory challenges in some jurisdictions like Germany, Canada, and others. This might raise concerns for some users about the exchange's reliability;
• Limited customer support. Some users complain about MEXC's slow response times from the support team and lack of informative answers. While the exchange offers multiple contact channels, the quality of customer service could be improved.

As you can see, the exchange has a pretty wide range of advantages that outweigh the minor downsides.

Online Reviews of the MEXC Exchange

So what are people saying online about the MEXC exchange? Let's take a look.

Overall, the impression from reading the reviews is positive because the negative ones seem fake.

Personally, our opinion is that this exchange is in the top ranks for a reason, and account lockouts are unlikely to happen systematically at that level. We're going to start using MEXC and maybe leave our own review soon.

Instructions for Using the MEXC Exchange

We've prepared some instructions on how to use the exchange to help you get started quickly.

Conclusion

The MEXC exchange is a multi-functional cryptocurrency platform with a wide selection of trading instruments and low fees. However, it also has some downsides, such as limited fiat operations, regulatory issues in certain jurisdictions, and subpar customer support. Considering their trading needs and preferences, each trader should carefully weigh the pros and cons of MEXC before deciding to use this exchange.

In this article, we discussed the MEXC cryptocurrency exchange, outlined its advantages and disadvantages, showed some reviews, and prepared some quick-start instructions.

Let us know in the comments: Do you trade on MEXC? Share your impressions with our partners.

We hope this article was useful for you. Wishing you all successful and profitable investments!