Coin MEXC  is a cryptocurrency that is attracting a lot of attention from investors. This is the coin of MEXC, a very reputable and popular exchange. In this article, let’s join MCrypto to learn more about MEXC coin, whether you should invest or not and what is the safest and most effective way to trade this coin!

Introducing Coin MEXC

What is Coin MEXC?

Coin MEXC or the only platform coin of the MEXC exchange is MX Token (MX). First issued in 2018 at a price of less than $0.05, the MEXC token has at times peaked at $3.7. Therefore, this token promises a lot of potential for future development. 

MX Token is a proof of rights and profits of the trading platform.

• The supply gradually decreases according to the buy-and-burn mechanism.
• The circulating supply is fluctuating around 100,000,000 MX.
• How to receive: Buy or mine coins.

Notably, 60% of trading fees on MEXC are used to reward MX token holders. The remaining 40% is used to buy back the Coin MEXC held by investors from the market. And burn coins monthly to reduce the total circulating supply. 

Applicability of MEXC exchange coin

MX Token is issued on the Ethereum blockchain with the ERC-20 standard. Coins are used for the following purposes:

– Staking

When staking MX Token, investors can receive profits of more than 100% of projects with staking pools on the MEXC exchange. Therefore, the more you hold this coin. The greater the profit. This is also the reason why investors’ demand to buy MX coins is increasing.

– Kickstarter

This is a favorite program of holders holding MX on the MEXC exchange. MEXC coin owners have the right to decide whether a project is listed on MEXC or not. When the list is successful, these projects will pay rewards to those who used MX to vote.

– Reduce transaction fees

20% discount on transaction fees when using MX Token as transaction fee on the MEXC exchange itself

In addition, users can use MX coin to participate in other profitable events such as Launchpad, and M-day…

Should you invest in Coin MEXC?

To decide whether to buy this coin or not, you need to see the potential and outstanding advantages of MX.

Development potential of MEXC coin 

– MEXC token is built on the Ethereum platform, so the coin is very compatible with wallets on Ethereum.

– Well evaluated by experts and assessed that MEXC coin will become a well-performing exchange coin after Binance’s BNB thanks to the buy and burn mechanism.

– Since 2020, MEXC has conducted many events to develop MX tokens even more strongly with the advantage that large MX token holders will have greater opportunities in the lottery to win and bet rewards.

– After 5 years of establishment, MEXC has quickly reached the top 10 cryptocurrency exchanges in the world.

– The MX community is being built more equitably and democratically. Each token owner has the right to participate in voting and contribute opinions about the MX coin. Specifically, the case of MEXC voting on the MEXC token 2.0 proposal has just ended. Millions of investors participated in the voting and the MX team followed the results.

Outstanding advantages of MEXC token

– The community of Coin MEXC holders has the right to participate in events closely related to the future of MX such as participating in voting, voting for activities, and allocation of MX coins.

– Through the mechanism of buying back and burning MX tokens, the supply of MEXC coins is gradually decreasing, and the project is always controlled to ensure there are only 100 million MX tokens in circulation.

– The MX team constantly develops new features to increase applicability and encourage users to own coins

– MEXC is developing very quickly and cooperating with many famous companies in the industry. Based on that, the token also attracts and creates a lot of interest from investors.

Some disadvantages when trading Coin MEXC

– The MX coin is the foundation coin of MEXC, so it is greatly influenced by the operations of this exchange. If MEXC does not develop strongly, MX will easily lose the interest of investors.

– The price of MEXC coin fluctuates quite a bit, and is also influenced by the price of bitcoin, so the risk level for investors is also higher.

So should you buy MX Token? Comparing the general level, MEXC coin is considered safer than many other altcoins on the market. In addition, the supply of MX coins is decreasing, so in the future this token will become scarce, thereby creating motivation. Helps MX coin increase in value. So if you are interested, you can invest in MX with the appropriate amount of capital.

>>See more: MEXC – The world’s leading cryptocurrency exchange

Where can I buy MEXC coins, which exchange?

Here are some ways you can choose to buy and trade MX:

Centralized trading platform

It will be very quick and easy for newbies to buy MEXC tokens through centralized exchanges or brokers. Before choosing an exchange, make sure that it supports MX. In addition, the exchange you choose needs to have a solid security foundation, high liquidity, and appropriate fees. Among those exchanges is MEXC.

Decentralized exchange

Different from centralized exchanges, DEX decentralized exchanges provide cryptocurrency swap services such as Coin MEXC based on self-executing smart contracts. To connect to a DEX, you need a compatible wallet like MetaMask.

Electronic wallet

If your top priority is security and complete control of your crypto assets, you may want to purchase and store MEXC Tokens with a non-custodial wallet, such as MetaMask… 

Instructions on how to buy MEXC tokens on the MEXC exchange

Buying MX tokens on MEXC will have the lowest fees and highest security levels. To buy MEXC coins as easily as possible, you can follow the instructions below:

Step 1. Create an account on MEXC

Before buying MEXC tokens, you need to open an account and pass KYC (identity verification). You can register to open a free account on MEXC’s website.

>>See more: MEXC account create is detailed and simple for beginner

Step 2. Choose how you buy MEXC tokens

After you have a Mexc account, log in and choose how you want to buy Coin MEXC. 

– Buy with a Credit/Debit Card. 

– Buy by trading on P2P/OTC

– Bank transfers worldwide

-Third-party payments

Step 3: Store or trade MEXC coin

Now you have your own MX tokens, which you can keep in your Mexc account wallet or send elsewhere via blockchain transfer. You can also trade MX tokens easily and quickly like other cryptocurrencies or stake in MEXC earning products for passive income (MX defi, Kickstarter..)

Above is all Coin MEXC information. Hopefully, the above article has helped you get an overview of this coin. And if you want to learn more details about the MEXC exchange what is MEXC, remember to follow the next sharing article on MCrypto!

FAQ

Who is operating the MEXC exchange?

John Chen – a master of science from Singapore’s Nanyang Technological University, currently holds the position of CEO of MEXC. He was also the CEO of eCare Global, Zallchain Pte Ltd and iTechBlack. Besides, he also has many skills in the field of information technology such as Java, SQL, HTML…

Evaluate MEXC’s reputation

The exchange has been licensed to operate legally and has a clear management organization in Australia, Canada, the United States, Switzerland, Estonia… MEXC always upgrades security equipment to ensure the safety of people’s assets. used with very strict KYC/AML policies.

When is the distribution rate and payout schedule for MEXC tokens?

• Team: 15% – locked for 6 months and unlocked 20% each month
• Mining reserve: 51%
• Financing: 20%
• Foundation: 14%