Opinions on Mexc GLobal

[hopenotlate]

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.

[BitMaxz]

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.

[PX-Z]

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/

[Oshosondy]

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.

[Potato Chips]

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.

[PX-Z]

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.

[BitMaxz]

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.

[PrivacyOui]

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.

Are you sure MEXC has changed now and requires KYC?
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.

[Davidvictorson]

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

[PrivacyOui]

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":

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?

[BitMaxz]

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

[salad daging]

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.
If you are fine to pass the KYC you are fine using this exchange.

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.
But if you withdraw a large amount I don't know I only withdraw what is mentioned above.

[PrivacyOui]

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.

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

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.

[logfiles]

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.

[yahoo62278]

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.

[Potato Chips]

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:



Snap from mexc chatbot under "Registration/Identification":



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.

[hd49728]

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.

Current Withdrawal Limit: 30 BTC in 24 hours

Complete the verification process to increase your withdrawal limit

Two KYC levels: Primary and Advanced

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.

[malcovi2]

Better avoid it there were people who have complained getting accounts locked or funds getting seized.

[dansus021]

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

[Rikafip]

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.