Title: Opinions on Mexc GLobal Post by: hopenotlate on January 20, 2024, 07:15:46 PM Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it: reliability, safety, functioning and whatever you feel it is worth sharing.
Thanks in advance for the time to answer me. Title: Re: Opinions on Mexc GLobal Post by: BitMaxz on January 20, 2024, 07:29:19 PM I haven't heard any bad news about this exchange I exchanged some coins there before but I stopped because they are now asking for KYC verification.
If you are fine to pass the KYC you are fine using this exchange. Currently, it's one of the top 20 exchanges in Coingecko and Marketcap. Title: Re: Opinions on Mexc GLobal Post by: PX-Z on January 20, 2024, 07:32:57 PM What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges. What's better in them than those top 10 exchanges in cmc?
Although it's true that they have listed so many coins than others, if that's the reason for you to use the exchange, i guess that's reasonable. I don't have any experience of using them and I can't seem to find any active scam accusations thread against them. But you need to check this article[1][2] few weeks ago. Although i'm not sure its legitimacy but it's worth of reading. [1] https://dailycoin.com/mexc-faces-increasing-scam-claims-of-forced-liquidation/ [2] https://coinmarketcap.com/community/articles/6587da70224fe1059b2eabc3/ Title: Re: Opinions on Mexc GLobal Post by: Oshosondy on January 20, 2024, 07:50:24 PM What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges. Recent 24 hours trading volume on MEXC is $1.234 billion. Is that volume low? It has $884,041,357 normalized volume. In derivative market, it has $2,481,750,551 24 hours trading volume. I noticed the exchange dropped in rank recently, likely something not good may be going on and which might be what you pointed to.Title: Re: Opinions on Mexc GLobal Post by: Potato Chips on January 20, 2024, 08:00:59 PM If you're looking for a full fledged exchange with no mandatory identity verification, it's not a bad choice. I personally have used this for a couple of trades a month or two ago, though I'd be uncomfortable on depositing a decent amount on there as there's a good chance they'd request an identity verification from me.
But if you're okay with passing identity verification, there are certainly better choices out there. Title: Re: Opinions on Mexc GLobal Post by: PX-Z on January 20, 2024, 08:02:18 PM Recent 24 hours trading volume on MEXC is $1.234 billion. Is that volume low? It has $884,041,357 normalized volume. In derivative market, it has $2,481,750,551 24 hours trading volume. Yes, it's still low and not better compare in those top 10 exchanges both spot and derivatives in 24 hour trading volume.I noticed the exchange dropped in rank recently, likely something not good may be going on and which might be what you pointed to. Probably, since cmc published the article with that issue and as the one who give the scores to listed exchanges.Title: Re: Opinions on Mexc GLobal Post by: BitMaxz on January 20, 2024, 08:12:02 PM Recent 24 hours trading volume on MEXC is $1.234 billion. Is that volume low? It has $884,041,357 normalized volume. In derivative market, it has $2,481,750,551 24 hours trading volume. I noticed the exchange dropped in rank recently, likely something not good may be going on and which might be what you pointed to. It just dropped recently 2 weeks ago the trading volume on MECX was around $2.5B and slowly dropped to $1.23B but all exchanges have the same statistics.It was on the top 10 exchanges on both Coinmarketcap and Coingecko a few months ago I don't know the reason but I think it is due to delisted coins. Title: Re: Opinions on Mexc GLobal Post by: PrivacyOui on January 20, 2024, 08:23:11 PM I haven't heard any bad news about this exchange I exchanged some coins there before but I stopped because they are now asking for KYC verification. Are you sure MEXC has changed now and requires KYC? If you are fine to pass the KYC you are fine using this exchange. Because I can't find any announcement indicating a change: https://support.mexc.com/hc/en-001/sections/360000679912-Latest-News Or were your funds frozen? What I have heard so far, MEXC has been a very famous and realiable non-KYC exchange. Title: Re: Opinions on Mexc GLobal Post by: Davidvictorson on January 20, 2024, 08:32:29 PM Mexc Global exchange so far there has been very positive reviews about this centralized exchanges. Just like binance, folks who use it, use it to buy and sell bitcoin, trade bitcoin,
The last I checked, KYC is needed. Although there has been pockets of issues here and there with people sending money to their wallets and Mexc Global exchange and didn't receive it, it eventually gets resolved when you use their in-app chat to reach their customer support. Other users have talked about their trading volume and rally during the bear market. However, before you go ahead to invest with them, here is a heads up from 4 weeks about the it to enable you make an informed decision - Traders report frozen assets, account blocks on MEXC (https://cointelegraph.com/news/traders-report-frozen-assets-account-blocks-mexc) Title: Re: Opinions on Mexc GLobal Post by: PrivacyOui on January 20, 2024, 08:36:24 PM The last I checked, KYC is needed. Really, is it required? Last verified source is from December 2023 and KYC is listed as "not required": Quote This is the basic sign-up process that lets you withdraw up to 30 BTC each day. However, you can complete the next level of verification by setting up the primary KYC. https://beincrypto.com/learn/mexc-review/I see people here are claiming KYC is necessary but I don't find proof anywhere? Title: Re: Opinions on Mexc GLobal Post by: BitMaxz on January 20, 2024, 08:45:31 PM The last I checked, KYC is needed. Really, is it required? I don't know but I just heard it from others they said it asks for KYC for certain types of transactions like crypto to crypto or derivatives trades. Crypto to crypto is usually what I use from this exchange that is why I stopped after I heard it from someone. Look at this post https://bitcointalk.org/index.php?topic=5474608.msg63187298#msg63187298 Title: Re: Opinions on Mexc GLobal Post by: salad daging on January 20, 2024, 08:58:01 PM Several times trading on this exchange, did not get any problems, about the security that is implemented 2FA and the rest is safe, although I do not know if there is news out there about the badness of this exchange because my own experience has never happened so I just say what it is.
I haven't heard any bad news about this exchange I exchanged some coins there before but I stopped because they are now asking for KYC verification. Not last week I exchanged coins on this exchange worth $100 it was not asked for any KYC so I was free even though I had not passed.If you are fine to pass the KYC you are fine using this exchange. But if you withdraw a large amount I don't know I only withdraw what is mentioned above. Title: Re: Opinions on Mexc GLobal Post by: PrivacyOui on January 20, 2024, 09:01:03 PM The last I checked, KYC is needed. Really, is it required? I don't know but I just heard it from others they said it asks for KYC for certain types of transactions like crypto to crypto or derivatives trades. Crypto to crypto is usually what I use from this exchange that is why I stopped after I heard it from someone. 1. Unverified Accounts: Withdrawal limit of 5 BTC per 24 hours 2. Primary KYC Accounts: Withdrawal limit of 80 BTC per 24 hours 3. Advanced KYC Accounts: Withdrawal limit of 200 BTC per 24 hours 4. Institutional KYC Accounts: Withdrawal limit of 400 BTC per 24 hours Information copied from here: https://www.thecryptobreakdown.com/guides/mexc-withdrawal-fees Would be a shady strategy from MEXC to require KYC while still claiming KYC is not required. Look at this post https://bitcointalk.org/index.php?topic=5474608.msg63187298#msg63187298 I will check it, seems like MEXC is having problems recently. Title: Re: Opinions on Mexc GLobal Post by: logfiles on January 20, 2024, 10:46:02 PM Be very careful if you are going to trade derivatives in there. They have a habit of listing new futures contracts of brand new shitcoins that haven't even been listed anywhere else at the same time with very high leverage limits turning the exchange almost into a casino
If you are a newbie in trading, you will lose all your money because there is no proper risk management help by the exchange. I also got to see a lot of scam wicks with those shitcoin perpetual contracts, signalling that a lot of users get their positions swept off via stop loss or liquidations within just seconds or a minute by candle wicks. Title: Re: Opinions on Mexc GLobal Post by: yahoo62278 on January 20, 2024, 10:54:33 PM If the reason for choosing the exchange was possibly no kyc, I'd go ahead and use a regular bigger name and get security. Looks like a user posted this exchange is asking KYC. I personally have never heard of the exchange and have nothing good or bad to say, but I like to feel safe when it comes to money and would go with the bigger name.
Title: Re: Opinions on Mexc GLobal Post by: Potato Chips on January 20, 2024, 11:42:27 PM Okay, because most reviews still have comfortable KYC limits (or similar): 1. Unverified Accounts: Withdrawal limit of 5 BTC per 24 hours 2. Primary KYC Accounts: Withdrawal limit of 80 BTC per 24 hours 3. Advanced KYC Accounts: Withdrawal limit of 200 BTC per 24 hours 4. Institutional KYC Accounts: Withdrawal limit of 400 BTC per 24 hours Information copied from here: https://www.thecryptobreakdown.com/guides/mexc-withdrawal-fees There is still no mandatory KYC as of writing otherwise there's likely gonna be an announcement for it. A snap from my unverified account: https://www.talkimg.com/images/2024/01/20/kX6GW.png Snap from mexc chatbot under "Registration/Identification": https://www.talkimg.com/images/2024/01/20/kXMqm.png I'm not sure why your linked article has 5btc limit though, but eh, I'm pretty sure the 30btc is just inflated for marketing anyhow. Title: Re: Opinions on Mexc GLobal Post by: hd49728 on January 21, 2024, 08:44:39 AM I did not see any notification from MEXC to do KYC. No notification that they turn to mandatory KYC now.
An unverified account has withdrawal limit like this. Quote Current Withdrawal Limit: 30 BTC in 24 hours Complete the verification process to increase your withdrawal limit Two KYC levels: Primary and Advanced Quote Primary KYC Increase your 24-hour withdrawal limit to 80 BTC Personal information Advanced KYC Increase your 24-hour withdrawal limit to 200 BTC Personal information Facial recognition It is bad if MEXC did shady things to liquidate user positions to get benefit for their exchange. If it is true, they will lose customers to competitive exchanges soon but they might not die. In the past, Poloniex in 2017 and 2018 made many shady liquidations but their exchange still operates in 2024 but losing their leading position. Now with the owner is Justin Sun, I don't believe in Poloniex and did not use my account on that exchange for some years. Title: Re: Opinions on Mexc GLobal Post by: malcovi2 on January 21, 2024, 09:07:01 PM Better avoid it there were people who have complained getting accounts locked or funds getting seized.
Title: Re: Opinions on Mexc GLobal Post by: dansus021 on January 22, 2024, 03:01:08 AM I Only registered on their website so never tried it out but why do you try the mexc as a centralized exchange if you choose over a huge variety of tokens I would prefer to go on Gate.io.
Maybe the best from MEXC is not mandatory for KYC at least last time I registered and their Futures I heard a lot from youtube or telegram community that the use mexc for futures because huge variety of coin and altcoin Title: Re: Opinions on Mexc GLobal Post by: Rikafip on January 22, 2024, 05:46:56 AM What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges. So your main factor when choosing an exchange is volume? I seriously doubt that OP is some sort of whale who would have issue with their "measly" $1B trading volume. What's better in them than those top 10 exchanges in cmc? Maybe the fact that its one of the rare CEX that still don't ask for mandatiry KYC? To be clear, I am not advocating for MEXC as I never used it before (I know some people that do though) but there are other things to look at other than the daily volume. Title: Re: Opinions on Mexc GLobal Post by: hugeblack on January 22, 2024, 09:46:15 AM Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed.
In any case, Mexc GLobal is good if you want to make small exchanges between $10 and $1000, and I do not advise you to do more than that unless you are willing to complete identity verification (and here there are better alternatives). Title: Re: Opinions on Mexc GLobal Post by: hopenotlate on January 22, 2024, 10:54:01 AM Thanks everybody for your valuable contributions.
My curiosity was triggered by their non KYC policy that according to their FAQ and also confirmed by the screenshots of their account Potato Chips kindly shared in this thread. There are indeed some red flags that, if I understood correctly, mainly concern those who carry out leverage trading because there is a huge interest conflict because Mexc acts as market makers in several low volume coins, so takes the other side of the trades and therefore winning futures traders make profit at the expense of Mexc. ( please correct me if I didnt' get things correctly). PS: feel free to address me to other no KYC exchange out there will be happy to take a closer look at them ( not referring to instant swap services but the custodial exchanges type). Title: Re: Opinions on Mexc GLobal Post by: Moreno233 on January 22, 2024, 02:58:43 PM Thanks everybody for your valuable contributions. Most of the exchanges that does not require KYC impose limits in withdrawal and some features of the exchange. Here is a link (https://koinly.io/blog/top-no-kyc-crypto-exchanges/) of some of the exchanges that do not require KYC and their respective limits. Unfortunately, MEXC still came out top in that list which makes me wonder if they are the actually the best in the market at the moment giving some of the points you raised. My curiosity was triggered by their non KYC policy that according to their FAQ and also confirmed by the screenshots of their account Potato Chips kindly shared in this thread. There are indeed some red flags that, if I understood correctly, mainly concern those who carry out leverage trading because there is a huge interest conflict because Mexc acts as market makers in several low volume coins, so takes the other side of the trades and therefore winning futures traders make profit at the expense of Mexc. ( please correct me if I didnt' get things correctly). PS: feel free to address me to other no KYC exchange out there will be happy to take a closer look at them ( not referring to instant swap services but the custodial exchanges type). Title: Re: Opinions on Mexc GLobal Post by: Rikafip on January 22, 2024, 04:14:25 PM Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed. KYC is inevitable for exchnage such as Mexc as sooner or later they will want to expand their business and meet the strict regulations. In any case, Mexc GLobal is good if you want to make small exchanges between $10 and $1000, and I do not advise you to do more than that unless you are willing to complete identity verification (and here there are better alternatives). Even though the high the amount, the bigger the risk that they will ask for KYC, they can still do it even for lower amounts as I heard about cases where Kucoin (back in those days before they had mandatiry KYC) suddnely required KYC for much smaller amounbt than $1k so I would say that unless you are willing to go through KYC, send only the amount you are ready to lose. At least that's how I used Kucoin. Title: Re: Opinions on Mexc GLobal Post by: PX-Z on January 22, 2024, 11:42:47 PM What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges. So your main factor when choosing an exchange is volume? I seriously doubt that OP is some sort of whale who would have issue with their "measly" $1B trading volume. Such exchanges start with no mandatory KYC, and then if there are trading volumes and exchange becomes large enough, it will ask users for mandatory KYC, and here it will give you one week to 6 months for withdrawing, or they will not find a sufficient number of users, and here it will either turn into scam or be closed. KYC is inevitable for exchnage such as Mexc as sooner or later they will want to expand their business and meet the strict regulations. Title: Re: Opinions on Mexc GLobal Post by: aTriz on January 23, 2024, 07:31:01 AM Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it: reliability, safety, functioning and whatever you feel it is worth sharing. Other than the fact that they require KYC I haven't heard anything wrong about them. things can change anytime in crypto and centralized exchanges, but so far MexC is proven to be safe and trusted Crypto exchange. Thanks in advance for the time to answer me. they have a Security ranking of AA with 86% Average Score https://cer.live/exchange/mxc they have $1.6Billion Trading volume (24 hours) and are at 15th in Coinmarketcap ranking https://coinmarketcap.com/rankings/exchanges/ so yeah. they are pretty good among CEX exchanges.. Title: Re: Opinions on Mexc GLobal Post by: PrivacyOui on January 28, 2024, 05:57:22 PM There is still no mandatory KYC as of writing otherwise there's likely gonna be an announcement for it. Nice to have a proof from your original account. A snap from my unverified account: https://www.talkimg.com/images/2024/01/20/kX6GW.png MEXC seems to be still a reliable exchange, where KYC should not be an issue if our coins are not from shady origin. Title: Re: Opinions on Mexc GLobal Post by: merekamo on February 11, 2024, 03:47:44 AM Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it: reliability, safety, functioning and whatever you feel it is worth sharing. Sofar what I have used in January has been fine, no problems. Because I only need it when there is a listed token that I want to trade. Just that. For now, we withdraw assets without having to KYC like other exchanges, yes, even though the trading volume is relatively small, it is enough for me.Thanks in advance for the time to answer me. One of the conveniences of MEXC global, no KYC. So to withdraw you only need 2fa, so in my opinion this is good if you withdraw assets with a small amount. Even so, I don't put all my assets in mexc. So, this is just for security if something fud happens or is related to security. Title: Re: Opinions on Mexc GLobal Post by: ALGORERHYTHMS on March 10, 2024, 07:18:34 AM What's the reason of choosing such lower volume exchange when there are much more better that can be found on cmc top exchanges. Recent 24 hours trading volume on MEXC is $1.234 billion. Is that volume low? It has $884,041,357 normalized volume. In derivative market, it has $2,481,750,551 24 hours trading volume. I noticed the exchange dropped in rank recently, likely something not good may be going on and which might be what you pointed to.Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam. Title: Re: Opinions on Mexc GLobal Post by: PX-Z on March 10, 2024, 12:19:08 PM Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam. Can you provide more info? Or better to make a new thread on the scam accusation (https://bitcointalk.org/index.php?board=83.0) board, follow this format (https://bitcointalk.org/index.php?topic=260073.0) and provide more information supporting your accusation.Title: Re: Opinions on Mexc GLobal Post by: xLays on March 11, 2024, 03:18:10 PM Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam. Is there any other reason why you guys have to open an account with this exchange aside from the fact that the only coin/crypto you can trade on this exchange? Why not just stick to those reputable exchanges like Binance, Kraken and Coinbase, to name a few? Look at their Trustpilot rating, almost a 1 star rating. https://www.trustpilot.com/review/www.mexc.comTitle: Re: Opinions on Mexc GLobal Post by: rat03gopoh on March 12, 2024, 04:02:03 PM Even though no KYC seems tempting, just imagine all the top exchanges implementing KYC policies even $1 trades while this one doesn't, it feels like global regulations never give exclusive rights. I also don't think they escape the scrutiny of AML authorities.
I'dn't put at least $10 before I became a verified user, or not use it at all. Title: Re: Opinions on Mexc GLobal Post by: Rikafip on March 12, 2024, 04:49:19 PM Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam. Care to share more info about what exactly happened there? I know some people using it and from what I hear, they are quite satisfied with them. Also, if you prefer you could open a scam accusation thread in Scam Accusation (https://bitcointalk.org/index.php?board=83.0) board. It won't help you get your money back, but will serve as a reminder to all those still holding large amounts of money on centralized exchanges. Title: Re: Opinions on Mexc GLobal Post by: ALGORERHYTHMS on March 17, 2024, 10:55:01 AM Made an account here just to say the stole $40,000 from me a few days ago. They claim abnormal profits without providing any proof and refuse to return funds. After some investigating I'm 99% certain the exchange is just a front for a huge scam. Care to share more info about what exactly happened there? I know some people using it and from what I hear, they are quite satisfied with them. Also, if you prefer you could open a scam accusation thread in Scam Accusation (https://bitcointalk.org/index.php?board=83.0) board. It won't help you get your money back, but will serve as a reminder to all those still holding large amounts of money on centralized exchanges. Hey sorry just seeing this reply. I interviewed with Cointelegraph and shared a few details here: https://cointelegraph.com/news/mexc-says-clawbacks-only-affect-delinquent-traders-as-users-report-missing-funds It was a great experience until I started making too much money. Mexc claims they had to take profits away from me in order to cover losses the exchange took. That gave me the impression they're trading against users. My account was frozen for 2 months citing risk control which ended up turning up nothing. I could go on for a long time about this and will probably end up starting a thread, like you said. Mexc says some of my trades had abnormal profits but won't provide any evidence. They erased all trading data from my account and so far I've been able to track down only $3,000 of the $40,000 that left my account. Sorry if it sounds like I'm rambling this is still very frustrating to me. I approached their VP with details of recent events and dirt I've dug up on the exchange and he's since stepped down from his position. No official word from Mexc but you can see via his LinkedIn page. They have a pending RICO case against them and many of their main wallets have been flagged for scams and fraud. Feel free to ask any questions. Title: Re: Opinions on Mexc GLobal Post by: EarnOnVictor on March 18, 2024, 10:00:47 AM Could't find on the forum a thread dedicated to Mexc Global exchange , please address me to it if I missed it, and would like to hear about your experiences, your opinions or generally speaking what do you thik about it: reliability, safety, functioning and whatever you feel it is worth sharing. I tried as much as possible not to ignore you because I always want people to sail safely when it comes to dealing with cryptocurrency. However, we all have to be careful no matter how good the exchange looks, and the only important revelation I have about this exchange is that it is always the first or almost the first to add a new coin, whether important or not to their platform. They are strongly competing with the DEX in new listings and I must say I give them that. But you to say you do not find their reviews online is shocking because it is always there, and in summary, it is a mix of bad and good reviews as usual.Personally, I can't use this exchange when there are better ones with higher ratings and daily trading volumes, and such that I have been using for more than 5 years. But if you must use MEXC, just entrust only a small amount of money to them. This is because I've read a review where someone with a not-so-big amount of money was not allowed to withdraw it. Though it is not peculiar to it but when a mere amount like $12,000 is not allowed to be withdrawn, then it is not worth recommending. As one of the low-volume exchanges, they are still doing a lot to attract customers, so you do not fall for that. Just look beyond their supposed goodness and how your money could be deposited and withdrawn without any glitches. Their platform is also okay, more than average if I rate them well, but I have never tried their customer support. You can start dealing on their platform without KYC as well, but note that they do not preach no-KYC entirely, so they may ask for it at any time depending on the type of customer you are in terms of your transactions, the size of funds, service used, trading volume and many more. Title: Re: Opinions on Mexc GLobal Post by: hd49728 on March 18, 2024, 01:57:38 PM Could't find on the forum a thread dedicated to Mexc Global exchange Recent years, there are less cryptocurrency exchanges that have announcement threads in Bitcointalk. I thought MEXC does not have announcement thread in the forum but searching gives me this.[ANN][pre-ICO Started] MEXC ▶︎ Real Products ▶︎ USD6.8b Industry ▶︎ Save Lives (https://bitcointalk.org/index.php?topic=2892923.0) Personally, I can't use this exchange when there are better ones with higher ratings and daily trading volumes, and such that I have been using for more than 5 years. But if you must use MEXC, just entrust only a small amount of money to them. This is because I've read a review where someone with a not-so-big amount of money was not allowed to withdraw it. MEXC is considered as a transitional exchange for new cryptocurrency, to list there, before going to be listed on bigger exchanges like OKX, Bybit, Bitget and Binance. It is what I knew when I used it but I don't know about recent issues people got with MEXC.Not allowed to withdraw can be from many reasons and if we don't know reasons of those cases, it's hard to say issue is on MEXC side. |