How to use Crypto Exchange MEXC to buy crypto and bitcoin in 2022

by James · September 28, 2022

Here is the most updated 2022 guide to setting up and trading with one of the largest crypto exchanges in the world MEXC.

Table of Contents

Covered:

Introduction to MEXC
How to register
Deposit by bank or debit
How to act
MEXC advanced features

Introduction to MEXC

Welcome to our guide on the MEXC exchange!

Sometimes labeled as a Binance Killer, MEXC is better thought of as another great cryptocurrency exchange you can sign up for depending on where you are in the world.

In particular, MEXC has obtained some crucially important licenses in areas notorious for not allowing cryptocurrency exchanges to operate. These areas include United States and Canada. Important to note: MEXC does not require KYC for US residents.

In addition to that, the exchange has an excellent selection of cryptocurrencies, as well as a variety of trading options such as buying and selling and derivative products. Additionally, MEXC offers one of the lowest trading fees of any exchange out there.

With all that in mind, let’s go into everything you need to know about the MEXC crypto exchange, including how to sign up and it’s must have features.

How to register

If you have already registered and just want to learn how to use MEXC, you can skip to the next section. For everyone else, let’s go into the registration process with MEXC.

To register, first navigate to the MEXC homepage.

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Once there, scroll up to the right corner of the page. You will see “Register” in green. Click on it.

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Once there, you will be prompted to create an account. Here you fill in the necessary information and click on registration. Depending on your region, you do not need to provide KYC to trade on MEXC. As mentioned earlier, KYC is unnecessary for US residents.

Deposit by bank and debit

Like most exchanges, you can deposit crypto or buy it with fiat directly on MEXC. First, let’s go over depositing crypto on the platform.

Depositing crypto on MEXC is basically the same as it is on any crypto exchange. You can buy via bank transfer or debit/credit.

Deposit via bank transfer

Let’s start with the bank transfer option.

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Go up to the top of the page and click buy crypto. You will see a drop bar. Click on Global bank transfer.

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From there, select your preferred/local currency and fill in your payment account.

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Click on “ACH” and then “Continue.” (Note: ACH just stands for Automated Clearing House.)

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Then enter the amount and then “Add account.”

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Now you will connect to Plaid, MEXC’s third party payment processing.

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Finally, you choose which bank you want.

Deposit via debit or credit

Now to deposit via debit or credit, go back to the previous drop bar where the global bank transfer was.

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This time you click on Debit/credit card.

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From here you will again be asked to select a currency and payment account.

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Here you enter your bank card information. Click “Continue” after filling in the information.

From there, you will be prompted to include the amount you wish to deposit. The appearance of the screen may vary slightly depending on who you bank with. Either way, you’ll be asked to enter the amount you want, as well as a one-time password sent to your phone, to make the transfer go through.

When you are done, just click continue and you will get a message that the transfer is successful.

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Now that you know how to deposit in MEXC, you are ready to buy and sell crypto.

Recommended: How to get started with Brave Browser

How to act

Now let’s get into the biggest part of any stock exchange and that is the trading. Fortunately, trading on MEXC is easy. It’s very similar to exchanges like KuCoin that ask you to deposit it into a trading account first.

To begin, navigate to the home page. At the top of the page, click on “Wallets”

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Now you will be taken to the page below. Click where it says “deposit”.

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Here you choose your preferred crypto

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Once you deposit crypto, it will be in your trading account.

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Now go to “Trade.” It’s at the top left of the page. Click on “Trade”. Select Spot from the drop bar.

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Then you can start trading in Spot using market or limit orders! As you can see from the screenshot below. You can choose between Limit or Market by clicking a button.

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For those unfamiliar with the terms, here’s a quick primer. A market order is the fastest option. Once selected, it will automatically select the price of the crypto you are buying for you. As you know, crypto prices fluctuate rapidly, so the choice ensures that you buy your crypto in the fastest way possible.

If you are more concerned with getting the best price, choose limited order. In the box marked with price, enter the desired price you want to buy your crypto at. When the market reaches this price, your order will be “filled”. Limit orders are especially useful when making very large purchases. The perfect booking price can make a big difference. Note: there is no guarantee that the order will be filled.

MEXC advanced features

MEXC has some special features. Here will go over what they are.

Futures Trading

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MEXC has a multitude of futures options. As you can see from the list, you can trade futures contracts stablecoins as well as with crypto as collateral. Not to mention, you can use their Demo trading feature. Demo trading is great if you want to simulate the crypto futures experience without losing your shirt. If you want to learn inside and out, this is a great option.

Earn/Bet

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MEXC also has an incredible range of income options for those looking for passive income options. The options include Launchpad which lets you in on new tokens, trade mining where you earn by making trades, as well as garden variety betting.

ETFs

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Arguably the most unique feature MEXC has to offer is the ETF trading options. If you want to diversify without leaving the crypto world, it is the perfect option for you. With MEXC, you can leverage crypto ETFs without going into margin as you would if you were to go long or short using futures contracts. It is a stable and safe way to stay in the market regardless of the conditions.