MXC is a cryptoasset exchange located in Singapore. Their volume over the last 24 hours is $418.44M. The exchange is rated “C” which means “Fair.” They are a crypto-only exchange.
MXC is a cryptocurrency exchange that was based in 2018. The members of the founding team are mainly from Europe and Japan, but they have chosen Singapore as a place of official registration. Singapore legislation is favorable towards cryptocurrencies so it’s a good shelter for cryptocurrency projects.
The platform was founded by the team of senior practitioners who have acquired much experience in the blockchain industry. There are also experts from Wall Street with an ex-banking background in the team. The exchange is very popular in the Asia Pacific region and mainly targets its local customers.
MXC features a multi-layer, multi-cluster system architecture. The company has rich resources at its disposal that along with numerous partners contribute to the high liquidity of the MXC exchange.
The selection of cryptocurrencies offered on the platform is big. The company offers a supernode, advanced security protection, and high-performance engine with the capability to process 1.4 million transactions per second. There is also the potential to enhance performance further. The servers clusters of the exchange are located in Korea and Singapore. The services include token/coin trading, OTC trading, contracts, and financial products.
The products offered by MXC include PoS pool providing a high yield to stakers, and an advanced API. The team has developed iOS and Android-based apps for its users trading or monitoring their trades on the go. The site offers an informative tutorial for spot traders and an ETF tutorial.
The company offers standard and professional margin trading catered to the needs of its users. There are different interfaces for each type of margin trading. The section features several dozen cryptocurrencies that can be traded with a leverage of 1: 5. 4 pairs are actively traded on MXC: BTC – USDT, ETH – USDT, EOS – USDT, and BCH - USDT. Though combinations with other coins are available as well but trading moves slowly there. Therefore, traders lose interest in them due to the lack of liquidity.
The exchange offers futures contracts for the following cryptocurrencies: BTC, ETH, and EOS. The section offers a selection of orders for more flexible trading. It seems that trading is active enough in this section at the time of writing. The exchange offers to make transactions with up to 1:100 leverage that can attract traders with little capital.
MXC platform offers users to store certain tokens and receive dividends for it. The holding period varies from 2 to 180 days, while the yield received begins from 3% and can reach 66.6% per annum.
Users can vote for the coins that will be quoted on the exchange. It is not known exactly how the voices are measured. This information could not be found anywhere, even in MXC reviews. But it is unlikely that each account has one vote as some projects have collected 7 million votes or more.
It’s convenient to use the platform globally thanks to multi-language support. There is an individual approach to traders with high trading volumes. The users, whose trading daily volume reaches 30 BTC per quarter and the amount of a quarterly trading fee reaches 5000 USDT are eligible for VIP entry. It means that they get access to high-quality projects, airdrops from diverse projects, a bigger daily withdrawal amount than the rest (150 BTC), and preferential trading fee rate with a 20% discount.
Along with the account privileges, birthday, holiday gifts are dent to the VIP client. VIPs also get access to the exclusive WeChat group, VIPs capital custodian service, investment consultancy service, a special channel for OTC deposits, and other services.
MXC charges flat fees that make up 0.20% per trade. The withdrawal fee is fixed and varies depending upon the cryptocurrency only, not the amount withdrawn. The whole procedure is relatively easy.
Using a high-end cold storage wallet, the platform offers an advanced level of security for its customers. At the moment of writing, the company hasn’t suffered from security breaches so far.
Though the company is based in Singapore, it has satellite offices throughout the world. This is a privately held company with over 200 employees in different countries. Crunchbase names Metin Mehmet Durgun to be the co-founder of the platform, his Linkedin profile states that he’s based in China and has a Bachelor’s degree in 3 different universities. Apart from this information, nothing else is known about other key members of the MXC team.Read More