By Shelly Melancon (Switzerland)
Max Maicoin Review
Max Maicoin is one of the leading cryptocurrency exchanges operating in Taiwan. The exchange provides transaction matching of fiat currency to virtual currency, and also virtual currency to virtual currency. This will enable you to transact in real time through your internet enabled devices such as your smartphones and computers. Selecting a good broker for trading is an important decision that will affect your trading experience, hence this exchange review of Max Maicoin will help you make the important decision.
Maicon group is the parent company of Max Maicoin exchange, and it also has other subsidiaries under it. This includes the Maicoin digital asset trading platform, MaiCapital, and the technology brand AMIS.
Maicoin digital asset trading platform is a subsidiary of the Maicon group that was founded in 2014 which provides a platform to buy and sell virtual currency. The platform supports major cryptocurrency, stable coins and DeFi concept cryptocurrency including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dai (DAI), Chainlink (LINK), PAX Gold (PAXG) and Compound (COMP). The platform allows you to deposit money via various payment methods and is available 24/7 for transactions.
MaiCapital is a hedge fund firm which uses quantitative analysis for investment in blockchain technology, cryptocurrency and alternative assets. The firm is licensed by the Hong Kong Securities Regulatory Commission which allows it to get funds legally from certified investors. The licenses issued were the Type 4 and Type 9 licenses.
Also, within the Maicon group is the technology brand AMIS, which provides blockchain solutions for the financial sector. The firm is one of the founding members of the Ethereum Enterprise Alliance (EEA).
Taiwan is an Asian country with fewer exchanges in comparison to other Asian countries. Other exchanges in Taiwan include BitoPro and OTCBTC, which shows the relatively low number of exchanges operating in Taiwan. There are a lot of exchanges operating around the world, they have some differences in their services with different advantages and disadvantages. Some of the advantages of using Max Maicoin include the security of the platform, the dependable API, and the low fees charged by the exchange. All of these are important considerations in choosing an exchange.
Despite the cryptocurrency exchange being based in Taiwan, it can be used from anywhere in the world including the United States. Though it is advisable to do due research on peculiarities that may arise from investing in the exchange from the US.
The exchange is accessible via its website platform, and you can also access Max Maicoin via its free mobile app on both Google play playstore for android and AppStore for iPhone.
MAX Token
MAX Token is one of the assets you can trade on Max Maicoin, and it is issued by Max Maicon exchange. You can also be rewarded with MAX Token when you stake on the Max Maicoin platform. The token is also listed on CoinMarketCap and CoinGecko.
A percentage of the trading fees will actually be in MAX Tokens, as your fund can be converted to MAX Token via the open market. And up to 30% of the fees charged during your transactions will be converted to MAX Token. If you own this MAX Tokens, you are free to stake your tokens on the Max Maicoin platform, and you will be given five times more staking power compared to unstaked tokens.
Also, your staking power increases the longer your tokens are staked, this is achieved through an ageing boost. Also, the amount of MAX Token airdropped will depend on your staking power compared to the overall staking power on the platform.
MAX Tokens were released to the crypto community via transaction mining, as opposed to conducting an ICO used by some tokens. About 60 million MAX Tokens were issued in 2018 and 2019. After this, over 90 million MAX Tokens was burned by the platform despite the fact that they were initially allocated to the transaction mining program. The amount of MAX Tokens burned was about one-fifth of the entire supply of MAX Tokens.
An important reason for the release of MAX Token was to share the benefits of trading with clients and to create a way to achieve trading discounts. MAX Token was seen as a means of increasing the growth of the MAX ecosystem. MAX Tokens that were not used or issued were destroyed and integrated into token offerings. This helps to prevent pressure on the price of MAX Token in the future, and prevent any potential market overhang when sold on the market.
The burning of MAX Tokens hence reduces the total supply of the token, therefore it also reduces the amount of tokens that can potentially enter the circulation. This will lead to the token becoming more scarce and this is considered a good thing by experts due to the reduced supply of the tokens.
Max Maicoin Trading View
Another feature that differentiates exchanges is their trading views, even though no trading view is generally accepted as the best view. Which trading view is the best is a question that depends on your personal preferences and hence you are the only person that can state categorically the best view for you.
A feature common to all the trading view is that they show the order history and a price chart of the selected crypto. They also show the order book or part of it, and they have buy and sell boxes. Hence, before selecting an exchange for trading, it is important that you assess the trading view to know how well you like it. It is crucial that you do this because you will be dealing with that view everytime you trade, so you must be comfortable with it.
Security
Max Maicoin provides users with a secure platform which can be trusted to protect your data communications and trading information. Also, your digital assets are stored in a secure cold storage which is offline.
The exchange also carry out regular test to look for vulnerabilities in the platform, and to fix such vulnerabilities. Wallet service by AMIS is also integrated into the platform to further improve the security by monitoring blockchain transactions.
Max Maicoin Trading Fees
Trading fees charged by an exchange is an important factor for you to consider while accessing different exchanges. The fees charged can vary significantly from one exchange to the other, and hence the cost of trading can be significantly impacted by the trading fee of your exchange. Trading fees are charged after transactions by exchanges in order to maintain their platforms.
There are two parties to every trade on an exchange: the maker who already has an order on the order book before the trade, and the taker who places the order which matches or takes the order of the maker. Max Maicoin charges trading fees using this maker-taker model.
The trading fee of Max Maicoin is actually below the industry average which means that trading with Max Maicoin will save you on trading fees in comparison to many exchanges. The taker fees for Max Maicoin is 0.15% which is lower than the industry average of around 0.25%, hence making it one of the cheaper exchange to trade with.
Even more important is the low makers fee offered by Max Maicoin which is 0.05%. This is much lower than the industry average and also ensures Max Maicoin has a high liquidity which is one of the strong advantage of the exchange.
Deposit
After creating an account with Max Maicoin, you can then deposit money into your account and then start trading with the deposited funds. You can deposit on Max Maicoin via different methods including wire transfer. However, the exchange does not accept deposit using a credit card. If you seriously need an exchange that accepts credit card deposit, there are exchange Finders that can help you in your search.
Due to the fact that Max Maicoin offers wire transfer as a method of deposit, if you do not have a previous crypto holdings, you can easily start your trading career with Max Maicoin despite that. This is quite helpful especially for new traders with no previous crypto holdings as they can trade freely with Max Maicoin.
If you have an account with Max Maicoin, you can deposit funds into your account for free. You can easily deposit various crypto, stable coins and DeFi currencies into your Max Maicoin account without attracting any charges from the exchange.
Withdrawal
An important factor to consider is the withdrawal fee of the exchange you want to trade with. The withdrawal fees charged by Max Maicoin is usually the same, and it does not depend on the amount of cryptocurrency you withdraw. Though the withdrawal fee varies, as the different cryptocurrency are charges different fees.
To withdraw Bitcoin on Max Maicoin, you will be charged 0.0005 BTC per withdrawal. This is less than the industry average Bitcoin withdrawal fee of about 0.0008 BTC. Max Maicoin offers cheaper withdrawal fees in addition to it’s cheaper taker and maker fees. This makes Max Maicoin one of the cheaper exchange to trade with. In comparison to Bitcoin, Ethereum has a withdrawal fee of 0.0054, while Litecoin has a withdrawal fee of 0.001 LTC
There are withdrawal limits on Max Maicoin and this limits varies depending on the time frame of the withdrawal. You wouldn’t be able to withdraw above the withdrawal limit available to you.
While attempting to withdraw from your Max Maicoin account, you should give the blockchain network some time for it to process your transactions. The number of block confirmations needed before your account is credited by Max Maicoin depends on the asset you are dealing with. While asset like Bitcoin and Litecoin requires three block confirmations, ADA coin requires up to 300 block confirmations before your account is credited. Hence, you should allow appropriate time to pass before you expect your account to be credited.
| Asset | Withdrawal |
| New Taiwan Dollar (TWD) | TWD $15.0 for individual account, TWD $100.0 for corporate accountno MAX discount |
| Bitcoin (BTC) | 0.0005 BTC |
| Ethereum (ETH) | 0.0054 ETH |
| Litecoin (LTC) | 0.001 LTC |
| Bitcoin Cash (BCH) | 0.01 BCH |
| MITH | 600.0 MITH |
| Tether ERC20 (USDT) | 25.0 USDT |
| Tether OMNI (USDT) | 18.0 USDT |
| Ripple (XRP) | 0.25 XRP |
| MAX Token | 0.0 MAX |
| USDC | 25.0 USDC |
| LINK | 0.7 LINK |
| Doge coin | 1.0 DOGE |
How to Create an Account With Max Maicoin
After exploring various exchange, and you make the decision to trade with Max Maicoin, then you will need to create an account with Max Maicoin before you can access the platform for trading. And this is important because you need an account before you can trade with Max Maicoin.
The process of creating an account with Max Maicoin is quite simple unlike some other platforms that may be more cumbersome to register with and hence discourage some new traders from registering. So you can create an account with Max Maicoin without difficulties.
After exploring the Max Maicoin website, you can click on the sign-up link which will direct you to a page through which you can register your account. Through this page, you can then fill a form containing your email and password. You will need to set up a 2-step verification process of your email, used in registration with Max Maicoin, in order to prevent unauthorized access into your account. This will provide another layer of protection for your account with Max Maicoin.
You will be required to certify that you are above 20 years of age and that you are not a resident or citizen of any country where using the exchange will be against the law. Also, you will be required to certify that you are not a resident or citizen of a country that is subject to sanctions or embargo from United States, Japan, or EEA.
After signing up for Max Maicoin, you will get a confirmatory email, and then you can complete your registration for the exchange. This sign-up process is easy and straightforward, and it is one you can quickly and easily complete in order to start your trading with the platform.
Customer Service
An important factor that you should consider while evaluating an exchange is the quality of the customer service offered. This is of great importance due to the fact that you are trusting the exchange with a significant amount of funds, so having a listening and helpful ear when you encounter challenges will be greatly valued.
Max Maicoin exchange provides you with quality customer service experience with personnel ready to assist you with any query or challenge that you may have. The customer service is ready to listen to your queries between the working hours of 10.00 am to 06.00 pm, Monday to Friday. You can contact the customer service via phone call or through an email.
If you contact the customer service at the time stated above, you can be rest assured that your queries will be evaluated quickly, and a solution will be proffered. This is perhaps one of the reasons for the increasing customers trading with Max Maicoin Exchange due to its excellent customer service.
Summary
Max Maicoin exchange is a leading cryptocurrency exchange in Taiwan. The exchange has a number of advantages over its competitors including the security of the platform, its world-class API and also the low fees charged by the exchange. The exchange is part of a bigger Maicon group which also includes Maicoin, MaiCapital and AMIS (a technology brand providing blockchain solutions). The exchange is trusted by many customers who trade on the platform 24/7 without interruption.
Max Maicoin has issued MAX Token through its platform and users are rewarded with it when they stake on Max Maicoin exchange. The benefits of this token is that you can get you can share the benefits of trading with the exchange and also get trading discounts from the platform due to the tokens. The MAX Tokens were released in 2018 and the adoption has been significant with the token listed on CoinMarketCap and CoinGecko. Some of these tokens has been burned since then to reduce the supply of MAX Tokens.
The interface of the Max Maicoin platform is intuitive and easy-to-use. Trading fees is charged by the broker via a maker-taker model with the trading fees being lower compared to industry average. The maker fees is 0.05% which is much lower than the industry average and hence this promotes liquidity on the exchange. It is free to deposit into your Max Maicoin account and the withdrawal fee charged is lower than the industry average. It is easy to create an account with the platform which also offers quality customer service.
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