After Bybit announced the requirements of KYC for deposits, many traders/investors have been looking to scramble for a new CEX to deposit funds and trade as Binance has also been under much scrutiny from regulators. However, MEXC has been around since 2018, and is currently gaining much traction in growth.
MEXC has their own token, MX, which operates similar to how BNB works with Binance and OKB works with OKX. It is used for governance, tokens as a base for trading (e.g. BTC/MX) with higher leverage, and receive trading fee discounts.
MEXC also listed that they have 0.01% Taker and 0% Maker fees, which is perfect for traders that are often setting limit orders and entering/exiting trades when prices hit a certain level based on Price Action. On top of that, the platform also offers ETFs and has been seeing massive traction based on partnerships with top traders on Twitter.
The only caveat that I have is that it is built on the Ethereum blockchain, and could expand it's utility to provide more options that are unique from current CEX models. I also heard that they do not have a strong customer support, and are also not available in most countries that also do not have Binance. Show Less
