Cryptocurrency Exchange

MXC Exchange Review 2020

Overview

Legal NameMXC Exchange
HeadquartersSingapore
CEOXin HU
Year Founded2018
Exchange TypeCentralized
Trading FeesMaker: 0.20% / Taker: 0.20%
Deposit MethodsWireTransfer, Cryptocurrency
Supported Cryptos200+ supported coins including  Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Dash (DASH), Ripple (XRP) and more
FiatNo Fiat currencies supported
Customer ServiceEmail, Phone
Trading OptionsSpot Trading

It is important to remember that there are many major exchanges, with well-known and respected names that have users around the world. Sometimes, the crypto users tend to forget that there are smaller exchanges that offer just as much, and further even more.

When it comes to MXC exchange, it claims to use a high-performance mega-transaction matching engine technology, which allows it to provide better trading conditions for its users.

In this article, we will give you a detailed guide to the MXC exchange and its overall aspects. Let us look into this MXC exchange review in detail now.

What is MXC Exchange? 

MXC exchange was founded in 2018 by Metin Mehmet. MXC is primarily backed by Chinese Blockchain investment funds such as FBG Capital, Genesis Group, and Block Capital. Furthermore, MXC also has a large number of supported cryptocurrencies.

MXC is an exchange registered in Singapore. MXC is very popular in Asia due to the listing of Chinese projects such as UTI and Dapp.com. The exchange also offers up to 10X leveraged trading on popular assets like Bitcoin and Ethereum. 

MXC Exchange Features

  1.  User Interface: The MXC trading interface clean and easy to use. Sell and buy orders are clearly displayed without all the necessary information such as real-time transactions, order book size, and charts.
  2. Fees: For trading fees, 0.2% of the transaction is charged. MXC Exchange does not charge deposit fees. However, withdrawal fees are charged and the amount is periodically adjusted according to the situation on each block for the specific cryptocurrencies.
  3. Payment Methods: MXC allows the following payment methods for buying cryptocurrencies such as transfers from your bank account, AliPay, or credit cards such as Visa or Mastercard.
  4. Exchange Liquidity: MXC has a high daily transaction volume of $3,000,000,000 USD transacted in a day. Coinmarketcap has ranked this exchange as a top 21 exchange with $10,000,000 of liquidity
  5. Security: The Exchange encourages users to use 2-factor authentication, whether by mobile phone or Google Authenticator. A nice feature for new users is they will have popup windows that will remind you to enable your security features.

MXC Exchange Fees and Limits

MXC Exchange does not charge deposit fees. However, withdrawal fees are charged and the amount is periodically adjusted according to the situation on each block for the specific cryptocurrencies and there is also a minimum withdrawal requirement. For example, for Bitcoin, the minimum withdrawal is 0.001 BTC and the fee is 0.0005 BTC. For Ethereum the minimum withdrawal is 0.04 ETH and the fee is 0.005 ETH.

This exchange charges a flat fee of 0.20% per trade. This is slightly below the global industry average which is arguably 0.25%. So with respect to the trading fees, MXC has a competitive offering. MXC offers wire transfer and cryptocurrency as the deposit method, but credit cards are not a permitted deposit method.

Did you know? The average BTC-withdrawal fee is 0.0008 BTC in the Global industry.

MXC Exchange Supported Currencies

MXC offers trading in 242 coins and has 374 trading pairs. They are currently no.7 in terms of the most supported cryptocurrencies compared to other spot trading exchanges according to Coingecko. Most importantly, MXC is on top of the Decentralised Finance (DeFi) wave and constantly adding support for DeFi coins

The Exchange accepts payment of the following fiat currencies: 

  • RMB
  • VND
  • AUD
  • GBP
  • EURO
  • PESO(MXN)
  • USD

MXC Exchange Mobile App

MXC Exchange offers its trading platform in the mobile version as well, both IOS and Android, as an application. Mobile applications are indeed very helpful for any investors that want to trade or maybe just monitor their trades, on the go.

MXC-Exchange-Mobile-App

How to register on MXC Exchange?

  1. Step 1:

    Open the MXC Pro app and click “Register”.

  2. Step 2:

    You will see two options namely, Registration by Clicking “Email” or “Phone”.
    register-on-MXC-Exchange

  3. Step 3:

    Enter your cellphone number, Email, and login code.

  4. Step 4:

    Click “Get code” to get your SMS code.

  5. Step 5:

    Enter the referral code if you are invited by others. If no, leave it blank.

  6. Step 6:

    Click “Register”, and then you register successfully.
    create-account-MXC

How to recover the MXC Exchange password?

In certain cases, to recover the MXC Exchange password, Go to the login page and then click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password.   

How to deposit on MXC Exchange?

  1. Step 1:

    Log in to your account and Go to “My Asset”.
    deposit-on-MXC-Exchange

  2. Step 2:

    Choose the cryptocurrency you want to deposit. Here takes USDT as an example. Click “Deposit”.

  3. Step 3:

    Click “Copy” or scan the QR code. Then, paste the address into the third-party platform or wallet.
    qrcode-MXC

  4. Step 4:

     Click “Historical Records” for checking the deposit progress.

  5. Step 5:

    The deposit will arrive after block confirmation completed. You can check it in your “Coin-to coin account”.

How to withdraw on MXC Exchange?

  1. Step 1:

    Log in to your account and Go to “My Asset”. withdraw-on-MXC-Exchange

  2. Step 2:

    Click “Withdrawal”. Ensure that your asset has been transferred from your “Fiat Account” to the “C2C account”. Withdrawal-MXC

  3. Step 3:

    Choose the currency you want to withdrawal. Here we take USDT as an example.

  4. Step 4:

    Click “Historical Record” to check the withdrawal state.

  5. Step 5:

    You can also check whether your withdrawal arrives by visiting the third-party platform or wallet.

How to buy cryptocurrencies on MXC Exchange?

  1. Step 1:

    Login to your account and click “Exchange”.

  2. Step 2:

    Choose the “Standard” version or “Professional” version based on your need. Buy-MXC

  3. Step 3:

    You can select the trading pair you want to trade in the market zone, or enter the trading pair in the “Search” box. Here we take the “MX/USDT” trading pair as an example.

  4. Step 4:

    Choose “Limit Order” or “Trigger Order” based on your need. Enter the quantity or pull the percentage bar to determine to buy the amount. buy-crypto-MXC

  5. Step 5:

    Enter the trigger price, order price, and quantity.

  6. Step 6:

    Now click “Buy” to complete the order.

  7. Step 7:

    After clicking buy, you can check the order state in “Trigger Order”.

How to sell cryptocurrencies on MXC Exchange?

  1. Step 1:

    Login to your account and click “Exchange”.

  2. Step 2:

    Choose the “Standard” version or “Professional” version based on your need. sell-cryptocurrencies-on-MXC-Exchange

  3. Step 3:

    You can select the trading pair you want to trade in the market zone, or enter the trading pair in the “Search” box. Here we take the “MX/USDT” trading pair as an example.

  4. Step 4:

    Choose “Limit Order” or “Trigger Order” based on your need. Enter the quantity or pull the percentage bar to determine to sell the amount.

  5. Step 5:

    Enter the trigger price, order price, and quantity.

  6. Step 6:

    Now click “Sell” to complete the order. sell-crypto-MXC

  7. Step 7:

    After clicking sell, you can check the order state in “Trigger Order”.

MXC Exchange Pros and Cons

Pros

  • Excellent Trading experience and Interface
  • Wide range of cryptocurrencies supported
  • Inexpensive fees
  • Mobile app available
  • Advanced security features
  • Wide range of payment methods

Cons

  • No Margin trading
  • Fiat currencies not supported
  • Some user complaints

Conclusion

MXC has a high-end cold storage wallet to ensure the security of funds stored on the exchange. They handle over $500 million dollars worth of cryptocurrency deposits. Currently, there have not been any known security breaches of the MXC exchange.

The exchange offers advanced trading technology and security seemingly being covered by two professional security companies. This exchange certainly seems safe enough, and with good trading features, so it might be worth a look.

Recent Updates

  • On Sep 01, 2020, MXC to list AlphaLink8 and open trading for $ANK/USDT trading pair.
  • On Sep 01, 2020, PEARL gets listed at MXC Exchange.
  • On Sep 01, 2020, MXC Exchange to launch new Leveraged ETF Products
  • On Sep 02, 2020, MXC Exchange will resume the $XOR Withdrawal Service.

MXC Exchange FAQ’s  

  1. Where is MXC Exchange based?

    MXC is an exchange registered in Singapore and with satellite offices around the world. MXC is a global exchange offering services to many different countries and regions.

  2. Does MXC require KYC?

    MXC currently does not require the Know Your Customer (KYC) program for withdraws. However, it is known that withdraws over 30 BTC can trigger manual KYC

  3. Does MXC have a VIP Program?

    The exchange has a VIP program for traders who trade more than 30 BTC. As part of the VIP program, users will be granted lower trading fees and additional perks.

  4. Is it safe to trade on MXC?

    MXC has a high-end cold storage wallet to ensure the security of funds stored on the exchange

  5. Does MXC have a mobile app?

    MXC offers its trading platform in the mobile version as well, both IOS and Android, as an application.

MXC Exchange Ratings

Reviewed By Delma Wilson

Easy to use
Trading
Fees and Limits 
Registration

Summary

MXC is an exchange registered in Singapore. MXC is very popular in Asia due to the listing of Chinese projects such as UTI and Dapp.com.

4
MXC - 8

8

Summary
MXC Exchange
Article Name
MXC Exchange
Description
MXC is also known as Matcha, supports a large number of cryptocurrencies. The exchange is backed up by FBG Capital and Genesis Group...
Author
Delma
Publisher Name
https://coinpedia.org/
Publisher Logo
Tags
Show More

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

Related Articles

Back to top button
Close
Close