What is MEXC?
Released in April 2018, MEXC is an exchange based in Seychelles, East Africa. It has swiftly established itself among the leading cryptocurrency exchanges, ranking among the top 100 in the world.
The team behind the MEXC claims to have some of the blockchain industry’s pioneers, i.e., people who have a lot of experience and expertise to bring to the table.
It also claims to be regulated within the regions it has been operating in through its affiliates. However, it can be hard to properly verify this. Regardless, the exchange does uphold every international financial law concerning AML (anti-money laundering) and terrorism financing, which require new users to go through a KYC, aka Know Your Customer, verification process if they want to increase their withdrawal limits.
MEXC also claims to be known for its mega-transaction matching technology and higher performance, which can allow for quick and effective trading. In addition, it has also stated that it has served more than 10 million users while having a presence in some of the major jurisdictions and continents throughout the globe.
How to Withdraw from MEXC
Here, we will be looking at how you can withdraw your tokens from MEXC, which, like other exchanges, is a fairly straightforward procedure and may not take that long to complete. Before we start, if you haven’t registered your account on MEXC yet. It is your lucky day. Click the button below, which will take you to the MEXC signup page with our exclusive referral code applied. Creating an additional account on the exchange is a succinct process for existing account holders. We highly recommend signing up with our exclusive referral code, as it may come as a shocking surprise to discover the significant cumulative weight of the complied fees.
How to Withdraw crypto on MEXC
Visit the MEXC Website
Before you withdraw your funds from the exchange, however, depending on your withdrawal amount, you may need to go through its KYC process first. However, if you have already done that, you can start the withdrawal process by heading over to its official website.Click on the Login button at the upper right corner of its homepage. Add the email address or phone number that you registered with and the password you set up within the relevant dialogue boxes. Click Login once more after you have done that.
Select Cryptocurrency & Network
Once you have logged in, you will have to access your MEXC wallet and the assets you have stored there. To carry this out, move your cursor over to the Wallets option, which you will find towards the upper right, and from the drop-down menu, select Overview. Your wallet information, including your balance, will be on the following screen.To withdraw your cryptocurrencies, select the Withdraw option at the upper right and select the token you want to withdraw. For this guide, however, we will use USDT as an example. So, select USDT and the relevant network for it, i.e., TRC-20 or ERC-20.One thing to note here is that you must ensure that the cryptocurrency and network you selected correspond to the withdrawal address you will enter here. In other words, ensure that you maintain consistency by selecting the same networks and tokens on the exchange you want to withdraw from, which would be MEXC here, and the exchange or wallet you are depositing to. If you don’t maintain the consistency required of you here, your assets will get lost, and you will not be able to recover them.
Enter Withdrawal Amount
Once you have entered the withdrawal address, the token you want to withdraw, and the relevant network, enter the amount you wish to withdraw from the platform. And after you have reviewed all the details or checked if everything is in order, click the Submit button below. Following that, a new window will appear on your screen, which is essentially your standard security verification protocol required to secure one’s assets.
Confirm the Withdrawal
To successfully confirm your withdrawal, you must complete the security verivifation procedure. On the security verification window, there will be a Send Now option next to the email address you registered with, so click on it to receive your verification code. You would also want to head over to the Google Authenticator application on your phone and then view the code that is produced for MEXC.Return to the withdrawal page after that and enter the authenticator and email verification codes. Click Confirm, which will then be followed by a transactional tracking page popping up. Once your withdrawal has been fully processed or completed, you will be notified of it through your email address. And that’s it; this is how you can withdraw your funds from the MEXC cryptocurrency exchange.
FAQs
How much withdrawal fee does MEXC charge?
Although MEXC does not charge any fees for making deposits, the exchange does, however, charge fees whenever you withdraw funds from its platform. Furthermore, since the exchange only allows cryptocurrency withdrawals, the fees for making withdrawals can vary from token to token. For instance, the withdrawal fee for Bitcoin is around 0.0003, and for Ethereum, it is approximately 0.0015 ETH.It is also important to highlight that withdrawal fees can depend on network conditions as well, so the fees by no means stay the same indefinitely and can therefore change depending on what state the network was in when the withdrawal was taking place.However, withdrawal fees aside, for those who are looking to trade on the platform, its trading fees are competitively low. So, for spot trading, the fees are 0.1% and 0% for takers and makers, whereas in futures, for takers and makers, the fees start at 0.02% and 0%, respectively.
Can I withdraw fiat from MEXC?
Unfortunately, from what we have gathered, the MEXC does not come with the option of withdrawing fiat currencies directly to your bank account. That said, it does provide its users with a P2P fiat trading option, which can be easy to carry out and does not come with that many charges. Moreover, the P2P platform on MEXC works in a manner that is similar to other well-known alternatives, such as Binance‘s P2P.Still, if, for some reason, you don’t feel like trying out P2P trading here and you have another account on an exchange that does support fiat withdrawals, you can always transfer your cryptocurrencies to that exchange and then withdraw your funds to the bank account that you have linked there.
How long does a withdrawal take on MEXC?
According to its official website, successful MEXC withdrawals usually take anywhere between 1 and 60 minutes, which can depend on the platform and token involved. However, it states that withdrawals might take even longer if there is a lot of network congestion.
