MEXC KYC Requirements and Limits

MEXC KYC Requirements and Limits

MEXC is a cryptocurrency exchange that offers a wide range of trading services, including spot trading, derivatives trading, and various financial products. This overview provides a beginner-friendly look at its core features, operational details, and Know Your Customer (KYC) procedures.

Core Features

MEXC provides a comprehensive platform catering to both new and experienced cryptocurrency traders.

• **Spot Trading:** Users can buy, sell, and trade a vast selection of cryptocurrencies directly on the Spot market.
• **Futures Trading:** The platform supports derivatives trading, allowing users to trade Futures contracts with leverage.
• **Asset Diversity:** MEXC is known for listing a large number of tokens, often including newer or smaller-cap projects.
• **Trading Interface:** It offers both a simple interface for beginners and an advanced interface featuring detailed charting tools.

Fees Structure

MEXC generally employs a tiered fee structure based on the user's trading volume and the amount of MX (the native exchange token) they hold. Fees are typically competitive, especially for high-volume traders.

• **Maker/Taker Fees:** Fees are charged differently depending on whether an order adds liquidity (maker) or removes liquidity (taker) from the Order book.
• **MX Token Discount:** Holding and using MX tokens for fee payment usually grants a discount on trading costs.

Supported Assets

The exchange supports hundreds of different cryptocurrencies and trading pairs, primarily against stablecoins like USDT and BTC. The specific list of supported assets is subject to change as the exchange lists and delists tokens.

Spot and Futures Trading Basics

Spot Market

In the Spot market, users exchange one asset directly for another at the current market price. Transactions are immediate (subject to blockchain confirmation for withdrawals).

Futures Market

The futures market allows traders to speculate on the future price movement of an asset without owning the underlying asset itself. This involves using leverage, which magnifies both potential profits and potential losses. Proper risk management, such as understanding Understanding Position Sizing in Crypto Futures: A Key to Managing Risk and Leverage, is crucial here.

Order Types

MEXC supports standard order types necessary for executing trades according to specific price targets or immediate execution needs.

• Limit order: An order to buy or sell an asset at a specified price or better.
• Market order: An order to buy or sell immediately at the best available current price.
• Stop-Loss and Take-Profit: Advanced conditional orders used to automatically close a position when a certain price is reached, helping to manage risk, as detailed in Stop-Loss and Take-Profit Orders.

Liquidity and Markets

Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price. MEXC generally maintains good liquidity for major pairs due to its high trading volume. Traders should check the depth of the Order book for less popular assets.

Security Practices

MEXC employs standard industry security measures:

• Two-Factor Authentication (2FA) for logins and withdrawals.
• Cold storage for the majority of user assets.
• Encrypted data transmission.

KYC Requirements and Limits

KYC (Know Your Customer) verification is mandatory for full platform functionality, especially for higher withdrawal limits and access to certain products. Verification levels usually involve providing personal identification documents.

The limits vary significantly based on the verification tier achieved. Generally, unverified accounts have very low or zero withdrawal limits, while fully verified accounts have substantial daily or monthly limits.

The table below illustrates typical tier structures, though specific limits should always be verified on the official MEXC site.

Verification Level	Required Documents	Example Daily USDT Withdrawal Limit (Illustrative)
Email/Phone Verification | Low Limit (e.g., 500 USDT)
ID Document Scan | Medium Limit (e.g., 5,000 USDT)
Proof of Address, Face Verification | High Limit (e.g., 50,000 USDT+)

Regulatory compliance is an ongoing process. Traders should be aware of regulations in their jurisdiction, such as those sometimes discussed by bodies like the European Securities and Markets Authority (ESMA).

Funding and Withdrawals

Deposits

Users can fund their accounts via cryptocurrency deposits (transferring crypto from an external wallet or another exchange) or sometimes via fiat on-ramps (bank transfer or credit card purchase), depending on regional availability.

Withdrawals

Withdrawals are processed after internal review, typically taking minutes to hours, depending on network congestion and the user's KYC level. Fees apply based on the specific cryptocurrency network used.

Mobile and Web User Experience (UX) =

MEXC offers both a web-based trading platform and dedicated mobile applications for iOS and Android. The mobile app generally mirrors the functionality of the web interface, allowing users to trade, monitor positions, and manage accounts on the go.

Risks and Responsible Trading =

Cryptocurrency trading inherently involves high risk due to market volatility. Futures trading, due to leverage, amplifies this risk significantly. Users should only trade with funds they can afford to lose and should thoroughly educate themselves on concepts like liquidation before engaging in leveraged trading.

First Steps Checklist

If you are new to MEXC, follow these steps:

• Visit the official site and Register here.
• Secure your account by enabling 2FA immediately.
• Complete the required KYC verification level to access desired withdrawal limits.
• Deposit a small amount of cryptocurrency to familiarize yourself with the funding process.
• Start by practicing trades on the Spot market before attempting futures trading.

See also (on this site)

• MEXC Trading Fees Explained Simply
• Exploring MEXC Supported Cryptocurrencies
• Understanding MEXC Order Types
• Assessing MEXC Liquidity for Traders

Recommended articles

• Leverage and Liquidation Levels: Managing Risk in Crypto Futures Trading
• 10. **"Futures Trading Made Simple: Key Terms and Strategies for Beginners"**
• 2024 Crypto Futures Trading: A Beginner's Guide to Support and Resistance"
• Fibonacci Retracement Levels in ETH/USDT Futures: How to Identify Key Support and Resistance
• Risk Management in Crypto Futures: Stop-Loss Orders and Position Sizing

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