MXC Review
There has never been a time when the financial market has received as much attention the we see it receiving right now. There are obvious explanations for this: The advent of cryptocurrencies coupled with its massive drastic growth over the years, and more advanced technologies that have given room for market analysts as well as enthusiasts to gain access to distilled knowledge along the line. There are brokerages or exchange platforms, like MXC Exchange, that enable traders get access to the market. This post is a review of the MXC Exchange platform. Is MXC Exchange Scam or Legit? Can you trust it to help you increase your potential of taking advantage of cryptocurrencies in the financial market?
The financial market is the adopted name for the global marketplace where investors, buyers and sellers come to transact all forms of market objects. Market objects can be in form of stocks, forex, commodities, indices and cryptocurrencies.
The avalanche of resources, technologies, options and information that abound about the financial market notwithstanding, investing in the financial market can still be tricky. To find the right path to a better finance life you must armor yourself with right and authentic information on how to navigate the financial market profitably.
For those who will take maximum advantage of this global market that has continued to turn millions and millions of people into financial steadiness, they must garner adequate knowledge to know what tools will give desired results. The most important thing anyone must consider is not even investing in the market, it is knowing how to get into the market. There are companies that connect investors and buyers and sellers with the market. They are usually referred to as brokerages or exchange platforms, and there are many of them.
Investors in the financial market choose a brokerage and trust it to provide them an opportunity to interface with the market in real time. Since there are a whole lot of scam brokerages online these days, it is going to take careful effort to distinguish legitimate platforms from phony ones and that is one of the things of which a market investor or trader must be mindful. To choose a brokerage or an exchange platform, there are a number of things to put into consideration: the general trading condition, the accessibility of trading options, financial instrument and trade assets, market analysis tools and much more.
Often times, these brokerages have different functionalities, as well as overlapping ones. In other words, you may find similar options on different exchange platforms, but you will never find exactly the same features on two different platforms.
Talking about first primary feature of general trading condition, this has to do with the simplicity and sophistication of executing trades on the exchange platforms. Most brokerages give leverage offers, commissions and with other unique offerings.
Is the user-interface friendly? Can it be easily operated? Can a beginner be at an advantage to use it? These and many more are questions on the general trading condition.
Also, on accessibility of trading options, a good brokerage will offer you different trading options. For example, some platforms offer your binary and digital trading in one software, while some only offer digital trading. You will need to choose the one that suits your trading need.
Furthermore, financial instrument and market analysis tools are central to navigating the financial market profitably. It is only wise to choose the brokerage that will give you the best and most useful tools for your market analysis, because that’s the big deal of trading for profit.
Having seen that good features are an indicator of a good brokerage, it is also important to point out that there are quite a number of handy exchange platforms that can also be trusted. They provide sufficiently cool trading conditions, customer support services that are laudable, security of trade and account etc for beginning, intermediate, or expert traders.
There are so many sophisticated exchange platforms that are springing up in the wake of the financial market and cryptocurrency boom. One of such is platforms is MXC.com.
For the fear of being scammed, a lot of people want to know if MXC.com can be trusted or not. And in this article, I will do a concise and candid review of MXC.com. By the end of this MXC exchange review, you will have learnt about the amazing features and functions that can be found on the MXC exchange. You will know about the trading fees and other important things, and you will know if you can trust MXC exchange with your money or not.
| Broker | MXC Exchange |
| Website | www.mxc.com |
| Trading Platform | Web-based and Mobile App |
| Trading Option | Cryptocurrency |
| Minimum Deposit | |
| Security | KYC (Know Your Customer), anti-DDOS, |
| Leverage | |
MXC Exchange: What You Should Know
MXC exchange is a centralized finance platform for cryptocurrency exchange that was established in April 2018. It has grown steadily, by leaps and by bounds, since its establishment and has gained recognition far beyond Seychelles where it was founded. The platform offers a range of amazing experience. This is practically because the founders are industry experts in blockchain, finance, and cryptocurrency and they have distilled all their expertise knowledge into making it an awesome platform.
A testimony to its rapid growth is that the platform now has about 371 coins listed on it, with a massive daily trade volume of about 4billion USD. Also, it has compliance licenses in 5 different countries namely: Switzerland, Canada, Australia and the USA.
WHAT ARE THE FEATURES OF MXC EXCHANGE?
MXC Exchange is one of world’s leading cryptocurrency exchange platforms, as it gives a user unique leverage and options that are not available on the platforms.
Straight to the point, we now explore the principal and striking features of the MXC exchange
- Margin Trading and Spot Trading
On MXC, news coins as well as projects are updated regularly and continually and you can easily find popular Non-Fungible Tokens (NFTs) DeFi, Polkadot and more on the MXC exchange platform. And these may not be listed anywhere. And interestingly, a user can spot or margin trade in all the coins listed on MXC.
- ETF Trading on MXC Exchange
At the moment, the MXC Index Product comprises major cryptocurrency, public chain, DeFi asset indices and much more.
This means that a trader can invest in Grayscale Portfolio Index.
This ETF helps to spread risk of trading over a group of assets, giving a sort of security. And it also saves time and energy. Once a user invests in ETF, he/she invests in all the underlying assets and this saves him/her time and long effort. One can guess that users of MXC Exchange particularly would enjoy this time and effort saving service. Users can easily get into ETF trading on the exchange with needlessly spending more time.
- Contract Trading
This feature that comes with the MXC exchange ensures that there is no expiry or settlement, and no time limit for position holding, as opposed to futures contract.
The perpetual contract is a form that is different from conventional futures. This serves another selling point for the MXC Exchange.
The MXC contract trading works on a mechanism of funding where payments are shuffled between the buyer and the seller in every 8 hours. This is usually on at a rate, which could be positive or negative. Important to note is that if rate is positive, longs will pay and shorts will receive the rate. The reverse is true is the rate is negative.
The essence of the funding mechanism to the perpetual contract is to monitor that the contract price is kept close to the price of the underlying asset.
- POS (Proof of Stake) Staking
Another wonderful feature of the MXC exchange is the PoS Staking feature. Under this, traders who hold relevant tokens are able to join the MXC PoS pool and get rewarded with yield.
Merits of Trading on the MXC Exchange
This section is about the benefits of trading on the MXC Exchange. They are highlighted below.
Awesome User-Friendly Interface: Anyone who has seen or used the MXC Exchange platform would most likely think that the MXC Exchange user-interface design team deserves a cup of coffee. The MXC exchange user-interface is very interactive and simple to navigate, making it easy for even beginners to find it easy to operate. In fact, it supports dark mode and light mode. I think that’s quite sleek.
Mobile Application: The exchange platform has a mobile app for both android and IOS devices for flawless and easy service delivery in real time. All of the functionalities can be accessed on the mobile application, users only need to play around it.
Also, there is a regular update to MXC’s mobile application.
Interactive Feedback Response: The MXC team has an amazing user support system that quickly attends to users’ queries. Since no service is entirely flawless on the internet, a good exchange will provide reliable system(s) to swiftly respond to issues their users are facing. MXC’s feedback response is not only interactive, it is around the clock and excellent.
MXC DeFi: If you have been wondering what truly makes MXC a good platform, here lies the answer: They make available DeFi staking that allows a user to receive benefits of yield mining in the most attractive DeFi projects. This comes with an interactive user-interface that is simple to use. There are also a lot of products/projects that will allow the user each the more.
User Education: As I have mentioned earlier that one of the features to look out for in brokerages or exchange platforms is ease of access. The MXC exchange provides video and text tutorials to help guide a new/inexperienced user through the sleek features of the exchange.
Community and Social Media Presence: Most times, the MXC exchange online community on Twitter@MXC_Exchange with over 50,000 followers help each other through the features of the exchange.
Security Protocols
In a digital age, to be wary of the online world is to be wise. There are a lot of scammers that have saturated the online world, and the careless end-user may pay dearly for it. As such security and compliance is a big deal and a very important issue when it comes to the financial market. The digital technology that has enabled a lot of awesome features in our day to day lives have also presented us with cyberattacks and other malicious online practices that put people at the risk of losing hard earned monies.
The following are the security and compliance features of MXC Exchange to ensure that users accounts and trades are maximally protected:
The MXC tech team has put together a sophisticated security and risk control system, which includes an anti-DDOS system with its extensive experience in the digital asset industry. This system draws on security technologies like the layered architecture, offline signature and the multi-signature. Also, to safeguard the digital assets, they are stored in cold wallets, supporting each investor in the most sensitive aspects.
MXC Trading Volume
As said earlier in this article, there are about 371 coins enlisted on the MXC exchange, and with licenses in a number of countries. The MXC has a daily trade volume of approximately 4billion USD.
Trading Fees
One of the selling points of the MXC Exchange is that it requires no fees at all for the deposit of funds.
In addition, the trading fees is just 0.2% of the transaction value. Users can also reduce the trading fees by holding the representative token of the Exchange known as the MX token.
As is the standard practice in cryptocurrency exchange, the MXC charges a fee to withdraw funds from the platform
Few Issues About MXC Exchange
While MXC Exchange is an awesome platform for all cryptocurrency traders, it however has few issues which we now look at.
MXC doesn’t have enough partnership with third-party trading terminals in the ranks of 3Commas, Koinly.
These third-party trading terminals offer users trading bots, crypto taxation software and other cool stuffs.
Although many users have testified to the legit nature of MXC, some users have given reviews of inconsistencies on their trading network. This is an area the technical team needs to work on.
Scanning through some of the reviews as given by users of the platform on Google Play, there are same complaints of inconsistencies. Even some Reddit users have complained on the same things.
Is MXC Exchange really a scam?
MXC is not a scam exchange platform. However, Reddit and Bitcoin talk forum have some posts where users talked about some unclean doings. The accusations said that there was a considerable volume of a specific asset and no price movement on the exchange to that effect.
MXC Exchange rating on Google Play
Star ratings on Google play could a trust score for platforms that have mobile applications that are available on Google Play. The exchange has a rating on 4.1 and 2k+ reviews on Google Play. That’s a fairly moderately rating.
How does withdrawal work on MXC Exchange?
Once your account is verified, you can process withdrawal transactions on the platform and without any issues at all. If you’re withdrawing between 0-0.1 BTC a day, you do not need KYC, but for any withdrawal query more than 0.1 BTC per day, you need to do the KYC for MXC Exchange.
Doing the KYC is an easy-to-follow process, and the interactive user-interface will help you all along the way. Once completed, you can process withdrawal transactions on MXC Exchange without issue, expect for a technical glitch.
Talking about technical glitches, the client-support is every willing to attend to clients’ queries, while the technical team is always on ground for maintenance and upgrade as at when due.
Summary
MXC Exchange was established in Seychelles in April 2018 by a syndicate of industry experts with years of practical experience in the financial and bitcoin space. MXC Exchange is a growing exchange platform with a lot of potential to become one of the world’s leading crypto exchange platforms.
It has compelling features that makes it a users’ choice. MXC Exchanges offers DeFi Trading, Spot and Margin Trading, and Contract Trading and ETF Trading for end users. It is built to give a feeling of comfort to the users whenever they interface with the vastly growing financial world of cryptocurrencies.
Conclusion on MXC Exchange Platform
With it ease of use, splendid user-interface and solid end-user support orientation, compliance and security, giving users control over their assets, it stands on the right foot to become users’ favourite amongst other exchange platforms. Although not a flawless exchange, MXC Exchange does offer some great crypto projects that can only be found on the platform. An example is the DeFi Trading feature.
In a competitive market of cryptocurrency, where technology as open the door to many possibilities, MXC is a growing exchange platform that will continue to do new coins listings with offers no one would want to miss.
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