MEXC token is currently one of the cryptocurrencies with a large trading volume on the market, attracting the attention of many investors. So MEXC token? Is MEXC reputable? What should investors keep in mind when trading MEXC coins? Let’s learn more about it with MCrypto in the article below.
General information about the MEXC exchange
Before learning more about this token that is popular with many investors, you need to have basic knowledge about the MEXC exchange.
What is the MEXC global exchange?
MEXC is an exchange, a place to buy, sell, and trade cryptocurrencies as well as digital products in the world, the most prominent being Bitcoin.
MEXC exchange was born in April 2018. To date, the exchange has been in operation for more than 5 years. MEXC Global is registered in Singapore by experienced experts with expertise in the fields of finance and Blockchain technology.
The exchange provides users with main trading products including:
Spot
Currently, the MEXC exchange allows users to make transactions with more than 1600 different cryptocurrencies, about 1900 trading pairs. Every day, the trading volume of the exchange can be up to 385 million USD – a quite large number.
Futures
Besides electronic currencies, MEXC also supports users to trade futures contracts with more than 300 different trading pairs. It is estimated that the trading volume of futures contracts on MEXC is worth more than 3.2 billion USD.
Launchpad
Launchpad is a token launch platform for projects listed on MEXC Global. Launchpad allows MEXC token holders to purchase tokens from potential new projects. From the time of launch until now, Launchpad has issued tokens for 11 projects.
Kickstarter
Users use this product to vote on tokens during its pre-launch period. From there receive the airdrop.
Saved
With this product, users use crypto to make savings with different APR levels.
Learn
This is a platform that provides users with useful knowledge about cryptocurrency.
P2P Trading
P2P Trading is a peer-to-peer cryptocurrency trading platform. Through this product, users can buy/sell cryptocurrencies with merchants licensed to operate by MEXC.
>>See more: MEXC account create is detailed and simple for beginner
Is trading on MEXC reputable?
To evaluate whether the MEXC exchange is reputable or not, we rely on 3 basic factors including legal issues, transaction volume, and security issues.
First, in terms of legal issues, the MEXC exchange is licensed to operate in 4 countries. Including Canada, Switzerland, the United States, and Australia. In the US market, MEXC is also considered by investors to be relatively suitable for US people.
In terms of trading volume, after only 1 year of establishment, in 2019, the MEXC global exchange has had significant growth, accounting for 5% of the global digital asset market. Currently, the exchange is still gradually developing strongly. The trading volume of MEXC reached over 1 billion USD, ranking 4th on Coingecko’s 24-hour Volume. Besides, the exchange’s order-matching performance can be up to 1.4 million orders per second. This helps increase the trading volume of the exchange higher and higher.
Regarding security, MEXC uses 2FA and KYC security forms to verify identity. Besides, the exchange also allows users to activate Anti-Fish to confirm official information from the exchange. Since its inception, the exchange has never been hacked once. That is the clearest proof of the safety and security of the exchange.
>>See more: Trade efficiently and securely with MEXC Futures
All information about the MEXC token
After understanding the necessary information about the MEXC coin exchange, we will go deeper into understanding the Mexc coin.
What is a MEXC token?
MEXC token is the coin of the MEXC exchange. MEXC holders use this token to conduct transactions on the exchange and receive commissions through the difference between the selling price and buying price of that token.
Up to now, there are about 100,000,000 MEXC in circulation on the market. The total amount of coins is distributed according to the ratio:
– 14% for the exchange’s founding team
– 15% for the executive team
– 51% of users self-mine
– 20% is circulated on the financial market.
Thus, if users want to own this type of token, they can only do so in two ways: self-mine or buy.
What is the current MEXC token price?
As of now, October 15, 2023, the MEXC token price is 169.48 USD. In the past 24 hours, the trading volume of MEXC coin was 33,640,932,715 USD. Market capitalization is 447,784,015,213 USD.
What can MEXC tokens be used for?
In the MEXC ecosystem, the MEXC coin is used to:
– Make purchases, exchanges, and money transfers to many others from anywhere in the world
– Stake MEXC and participate in platform governance voting rights
– Pay fees for transactions occurring on the exchange as well as reward miners
Some notes when trading MEXC tokens
During the MEXC listing trading process, especially for beginners. You need to keep in mind some important notes below.
Carefully study the transactions
Before making any transaction with the MEXC token, you need to carefully research its price history in the previous period, and specific market fluctuations… to determine the up and down trend of the token. price.
Besides, you should also choose the appropriate leverage level to gain maximum profits as well as limit possible risks.
Promote security
Next, always ensure the security of your MEXC coin trading account. Please note that transactions at home are always safe. And it’s more secure than when you transact in public.
You should also enable the 2-layer security system to better protect your account.
During the transaction process, you should also use many other security methods on your computer and personal phone.
Always take precautions for possible risks
Before participating in the cryptocurrency market, always prepare yourself mentally for possible risks. Have a reserve for yourself and especially never spend all the money you have on trading.
In general, the cryptocurrency market in general and the MEXC token are not difficult for those who have knowledge and invest time to learn about them. Hopefully through the above article of MCrypto. You have gained useful knowledge to start your professional investment path. In the next article, we will share the issue of deleting how to delete MEXC account – with accounts whose information has been stolen, to help people feel more secure during the transaction process.
FAQ
On which exchanges can MEXC tokens be traded?
Users can make transactions with MEXC coin on several exchanges such as OKX, DigiFinex, Bitget, CoinW…
Is the price of MEXC in an uptrend or downtrend?
Overall, in the past 24 hours, the price of MEXC coin has been in a downtrend. However, to make investment decisions, you should ignore the price in a short period but should research the long term along with analyzing market fluctuations to make the most accurate decision.
What is the maximum leverage in MEXC?
MEXC Futures supports users with leverage from 1 to 200x, depending on the product.
