MEXC is among the top 10 crypto exchanges with the largest trading volume in the industry. Take a look at our article to learn about this exchange. And with our MEXC cashback code, you can receive many great incentives when you start participating in this exchange.
Introduction to MEXC Exchange
Overview of MEXC
MEXC, formerly MXC Exchange, is one of the largest cryptocurrency trading platforms worldwide. Founded in April 2018 and registered in Seychelles, this centralized exchange has been fast disseminating to users in more than 170 nations and regions, with a million registered users, underpinning a robust trading infrastructure and a commitment to deep liquidity, together with comprehensive service offerings.
Having been around for just a couple of years, MEXC hardly wasted any time finding its footing in the highly competitive landscape of crypto exchanges. Soon, it gained nearly 5% of the global market share in its first year, part of which underpins the platform’s popularity and can prove traders’ trust in the search for reliable and effective means of trading.
In 2021, MEXC won the grand “Best Crypto Exchange Asia” title at the Dubai Crypto Expo, furthering people’s perception of it as a key player in the cryptocurrency market. The founders of the fast-growing MEXC exchange remain unknown, the exchange’s current Chief Executive Officer is John Chen.
MEXC is proud of its advanced trading capabilities, which are empowered by a multi-tier and multi-cluster system architecture. This robust infrastructure supports high-performance matching engines that process up to 1.4 million orders per second. This is what it offers: seamless trading experiences that guarantee to be there even during peak market activities.
Key Features of MEXC
MEXC’s diversified set of trading features puts it at the forefront of the trading arena of digital assets. Here is detailed information about what MEXC offers:
Trading Features
Spot Trading
MEXC has one of the most solid spot trading platforms in the space. Key technical indicators include K-lines, moving averages, and MACD, which provide the user with a better sense of price trends.
Perpetual Futures Trading
For futures traders, MEXC has an exemplary platform where more than 300 futures contracts are available with the possibility of leverage up to 200x. It means controlling bigger positions in relation to the initial investment. That sets MEXC apart as one of the versatile options for futures trading enthusiasts.
MEXC Futures M-Day
Futures M-Day is a hard-held, one-day event exclusive to MEXC that reduces fees and gives extra rewards to users for participating in futures trading. Through this effort, MEXC could yield the needed high level of engagement within its trading community.
Demo Trading
MEXC understands that every new trader needs learning and practice very much. To this end, they have a “Demo Trading” feature, which is developed for futures trading. In this simulation, several trading strategies are to be followed in order to familiarize themselves without exposing their wallets to the MEXC trading platform.
Copy Trading
As an innovation leader, MEXC launches copy trading, allowing its users the ability to replicate trades from experienced traders automatically. Dual functionality is enabled, with the two ways being: follow strategies set by established traders or become a leader and earn rewards based on trades that followers perform.
MEXC Express
MEXC Express grants the implementation of most popular payment methods, such as SEPA transfer, credit/debit cards, and other third-party providers like MoonPay and Simplex. Such functionality can further increase accessibility and efficiency related to cryptocurrency transactions.
P2P Trading
On the other side, MEXC provides professional P2P trading service support for direct P2P transactions to buy or sell cryptocurrencies against local fiat currencies, such as Vietnamese dong, Russian ruble, and South Korean won, with more than 30 enabled payment methods to ensure flexibility and ease of use anywhere in the world.
User Interface and Experience
MEXC epitomizes ease of use for both new and professional traders. From navigation on the website to trading, MEXC assures accessibility for all levels of experience.
Internally, there is the presence of two very strong dashboards: MEXC Futures and Spot Trading, both fully equipped with a wide array of financial tools and data types so that traders are empowered with everything needed to make very well-informed decisions.
Furthermore, it has created a mobile app compatible with Android and iOS devices, making it even more friendly. With the MEXC App, users can buy, sell, and trade cryptos anytime they like from their phones. The events that happen on the desktop version are transferred onto the mobile app, and thus, everybody would find trading very easy and convenient.
Since it was developed with clear visibility and functionality in mind, the MEXC app helps facilitate things for all of its users through a well-written interface that improves the trading experience at every use, regardless of one’s trading background.
Supported Cryptocurrencies and Trading Pairs
MEXC is one of the exchanges that supports most cryptocurrencies. Regarding supported coins, you can trade a variety of cryptocurrencies on this exchange, with instant buying or selling available for 2383 cryptocurrencies and over 2800 trading pairs available to traders.
What Makes MEXC a Good Choice
The great ability of customer attraction, having different profiles and meeting their continuously changing needs at the industry level, is one of the main strengths of the MEXC exchange.
MEXC stands out with a fully functional package of exchange options. Its user interface is very friendly, allowing cryptocurrency transactions, both buying and selling, easily and without any sort of issues. The various trading options and features on this exchange are widely used on leading cryptocurrency exchanges.
What sets it apart from others is reliability and versatility; hence, it is fit for a large spectrum of traders. With tough competition in the marketplace, MEXC can assure a headstrong trading environment coupled with its wide array of altcoins and new features constantly rolling in, overriding the list for cryptocurrency investors.
Fee Calculation Mechanism of MEXC
Types of Fees on MEXC
Trading Fees (Maker and Taker fees)
MEXC accommodates different traders with competitive trading fees on spot and futures markets. The detailed breakdown of the fee structures is shown below:
Spot Trading Fees
MEXC has a very straightforward fee structure for spot trading, and to date, it has one of the lowest fee rates in the industry. Makers charge zero percent and takers charge only 0.1 percent on all trading pairs as part of a limited-time promotion. Please note that these are promotional rates that are likely to change in the future.
Futures Trading Fees
The incentive fee structure for futures trading on MEXC is as follows: it rewards liquidity providers. The maker fee for makers is set at a competitive rate of 0%, lots of which would get attracted to the placing of orders in a manner that adds liquidity to the market. On the other side, takers will be charged a nominal fee of 0.01% upon order execution, thereby reducing liquidity.
Withdrawal and Deposit fees
MEXC does not impose fees for depositing cryptocurrencies. However, users may encounter additional network fees specific to the cryptocurrency being deposited. These fees are determined by the underlying blockchain technology and can fluctuate based on network congestion.
Withdrawal fees at MEXC vary depending on the cryptocurrency being withdrawn. The exchange provides a transparent fee structure, allowing users to view the exact withdrawal fee for each cryptocurrency directly on the withdrawal page.
How Fees Are Calculated
Explanation of the Maker-taker Model
Taker orders are urgent and immediate. Placed by traders looking to execute a transaction at the current market price immediately, they are matched directly against existing orders on the order book. The process “takes” liquidity from the market, enabling very fast entry or exit from positions.
Taker orders, being immediate in execution, come at slightly higher trading fees, known as Taker Fees. They are almost as if they pay a premium for convenience and speed, thus reflecting the cost of immediate access to available liquidity in the market.
While taker orders do the opposite, maker orders provide both liquidity and stability to the markets. Maker traders provide liquidity to the order book by offering to buy/sell at certain prices, which may or may not be at current market rates. Such orders then sit in the order book until they get matched by some other trader’s taker order.
Maker orders are usually associated with market makers or other traders who are patient, and their orders can be viewed as willing to wait. On the other hand, maker orders provide liquidity and narrow bid-ask spreads are important for the efficiency and price discovery of markets.
In return for their effort to provide better market liquidity, maker fees are usually given to traders who place maker orders. Lower fees are an incentive for liquidity providers to take part and encourage a balanced trading environment.
Factors Affecting Fee Calculations
Fees are influenced by several factors, with transaction size being a critical determinant. The size of a transaction directly impacts the fees customers must pay. Essentially, the larger the transaction size, the higher the fee.
Ways to Reduce Fees on MEXC
MEXC VIP Programs
MEXC has customized VIP programs suitable for its users: Gold, Diamond, and Premium, conferring different benefits or privileges in accordance with certain criteria.
Membership Criteria
To be eligible for any for MEXC’s VIP programs, users shall meet financial thresholds pertinent to holdings in digital assets such as, but not limited to, BTC, USDT, ETH, and XRP across spot and futures markets. In this regard, there will be different requirements for total assets for every VIP level so that the members enjoy tailored benefits suited to their trading activities.
- Gold Tier: To maintain the specified asset levels for 20 days.
- Diamond Tier: To maintain the stipulated amount of assets for 40 days.
- Premium Tier: Maintain specific asset levels for 60 days.
VIP Benefits
Regardless of the level, every VIP member at MEXC will receive core benefits aimed at augmenting their trading experience:
Leverage Trading Bonus: VIP members can have a 30% discount on futures trading rates for 14 days by depositing at least 2000 USDT into their leveraged trading account. The exclusive offer is a one-time opportunity in the case of eligible users.
Discount on Transaction Fees: If trading volumes are high enough, then VIP members can get transaction-fee discounts for the following amounts:
- A discount of 20% with a cumulative trading volume at 1,000,000 USDT or above.
- A discount of 30% with a cumulative trading volume at 10,000,000 USDT or above.
Other VIP Privileges
Besides the monetary value attached, MEXC VIP programs give users enhanced customer support, priority for all new features, and exclusive promotions. Such privileges shall be foreseen as a way to repay active traders and further help them gain a competitive edge within the cryptocurrency market.
Using MX Token for Fee Discounts
The MX token is the native cryptocurrency at MEXC. It has varying functions that promote a good user experience and increased engagement on the platform. Users can easily buy, hold, transfer, and stake MX tokens directly in the MEXC ecosystem.
One of the unique selling points for holding MX tokens is the significantly large fee reductions across all trading activities. Prolonging this further, if traders hold 1000 MX tokens, this would bring a total 100% discount on all fees incurred for trading in Spot markets, thereby making the trades on the Spot free. In addition, there is a significant discount of 50% on trading fees related to Futures. Additionally, maker and taker fees are reduced to zero and 0.1%, respectively.
Applying the MEXC Cashback Code
Trading on MEXC can be made more economical by utilizing our MEXC cashback code. The unique code not only reduces your trading fees but also allows you to share it with your friends and fellow traders.
How to get MEXC Cashback Code
On Website
Step 1: Visit the official MEXC website at https://www.mexc.com/login?inviteCode=mexc-coincu. Choose your sign-up method (email or mobile number).
Step 2: Enter your email or mobile number and set a password.
Step 3: Ensure “mexc-coincu” appears in the referral code box. Agree to the User Agreement and Privacy Policy, then click [Sign Up].
Step 4: Complete the captcha and verification code sent to your email or mobile. Once verified, your sign-up is complete.
On App
Step 1: Download the MEXC App, open it, and tap the user icon, then [Sign Up].
Step 2: Choose a verification method (email or mobile number).
Step 3: Enter your email or mobile number and set a strong password.
Step 4: Enter “mexc-coincu” in the referral code box for up to 35% cashback.
Step 5: Complete the captcha and enter the verification code sent to your email or mobile. Once verified, your sign-up is complete.
Conclusion
The MEXC cashback code is a great incentive for you to join the exchange at the most economical cost possible. Enjoy your experiences at MEXC using the code provided by Royal Cashback.
FAQs
Does the MEXC cashback code expire?
We always update the latest codes for you, so rest assured that you will always receive MEXC cashback offers.
Can I use this MEXC cashback code twice?
No, the MEXC cashback code is limited to one use per main account.
Can the MEXC cashback code be used to reduce withdrawal fees?
No, the code can only be used for refunds based on your transaction.
Are transactions using MX and MEXC cashback codes cumulative?
Transactions using MX are the exchange’s transaction fee reduction mechanism, while the MEXC cashback code is a promotion applicable to users. While the code is valid, you will still receive refunds and reduced transaction fees as usual.
