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26 May 2022
Here at CoinSutra, our job is to find useful crypto resources that we can use in day-to-day life. In the past, I have introduced you to Binance, Bybit, and many similar popular crypto exchanges.
Note: MXC exchange does not allow users from USA. US users could look into Kraken or CEX.
Moving one step ahead, recently I discovered another upcoming exchange named MXC, and after using it for over 6 months, here I’m sharing my detailed review of the MXC exchange.
In my findings, the MXC exchange has every feature you would expect from an innovative and modern cryptocurrency exchange.
So without further delay, let’s have a look at MXC crypto exchange, its features and benefits of using it.
Create a free account on MXC exchange (10% off trading fees)
MXC is a centralized cryptocurrency exchange that was established in 2018 in Seychelles, East Africa, and has been recently picking a lot of interest around the globe. The core members of the team come from world-class enterprises and financial companies, who have rich experience in blockchain and financial industries.
MXC has compliance licenses in 5 countries including Switzerland, Canada, Australia, and the United States. The exchange has listed around 371 coins (752 pairs) with a daily trade volume of approximately USD 4 Billion.
The major features of the exchange are:
A user can spot or margin trade in all the 371 coins listed on the exchange. New coins and projects are being added at a regular interval, and you will find popular DeFi, NFT, Polkadot coins on this exchange, which may not be listed elsewhere. In fact, MXC was one of the first exchange to list wrapped NXM token, and some of the popular DeFi tokens.
The major benefit of an ETF is:
Like Binance in-house token BNB, MXC exchangehas an in-house token called MX. There are various utility of MX token, and that is something we will look in this section.
MX token holders can enjoy a series of rights and interests including MX appreciation, assets appreciation, rebates on platform revenue, supervision, voting, etc. MXC rewards the users who contribute to system liquidity by 51% of MX through”trading mining and token-based rebates”. Likewise, it rewards MXC community users through the mining incentive mechanism so as to enable them to enjoy the rights to the MXC community by holding MX.
Its total circulation is 3 billion constantly and never be added. MX can be obtained in two ways: mining and buying.
Note: Some of the information regarding MX token is picked from their old white paper. Unfortunately, I could not find updated white paper, and this is something the team should consider adding on their website.
Like every good thing has room for improvement, the MXC exchange has a few features missing that would make it a remarkable crypto exchange. The one thing that I feel MXC exchange is missing is the partnership. It should partner with other tools like 3Commas, Koinly so that users can use 3rd party trading terminal, trading bots, crypto taxation software, and more. I believe this is something the marketing team should focus on, and make MXC accessible via these popular 3rd party crypto trading tools and services. This would not only give more exposure to the MXC exchange but would also help the exchange get more liquidity.
Update: Bituniverse offers integration with MXC. You can read more about Bituniverse in our crypto grid bots guide.
You can track MXC portfolio by using Blockfolio app. You need to add transactions manually. I could not find any crypto portfolio tracker that automatically syncs with MXC exchange.
Another thing that could make more difference is, the founding team could be more public and do more webinar, and live events. This would increase more trust and add more credibility to the platform.
Another thing the MXC marketing team could do is to publish a whitepaper, and have a blog like every trustable and reliable crypto exchanges out there.
We did not experience any issue with the withdrawals, however Reddit and Bitcoin talk forum have a few posts where users have complained about wrongdoing.
There are some accusations that there was substantial volume of a particular asset and no price movement on the exchange.
MXC is a revolutionary project which has a great potential of becoming a leading exchange in the crypto industry. The user-friendly interface and a prompt reaction to the user feedback make it a favorite of users. They are constantly adding extra features, and so far there is no episode of hacking associated with MXC exchange. The trust score of this exchange is medium, and it looks like a reliable exchange to trade on.
The exchange experience is not one of the top-notch, but they compensate that by offering some of the best crypto projects, which are not available anywhere else. In fact, by monitoring the new coin listing at MXC, you may find the next gem.
Create an account on MXC (10% trading fees discount)
The above sign-up link helps you save 10% on trading fees, which you would not get if you sign up directly.
Finally, for a long-term investor and an ambassador of emerging technology projects, this an exchange no-one would want to miss.
Now it is your turn to let me know about your experience and review of MXC exchange. What all features you liked and what are a few things you want them to improve in the days to come?
As reported by CoinSutra users from USA, MXC exchange does not allow registrations from USA. However users can use a VPN like NordVPN to access and register at MXCexchange but at their own risk.
For withdrawals up to 0.1 BTC a day, you don’t need KYC. However for higher withdrawal, you need to do KYC. See the screenshot below that clearly shows the limit for KYC requirement of MXC Exchange.