Eight former Morgan Stanley executives manage Phemex, which has an office in Singapore. Users may trade numerous perpetual contracts on the Phemex exchange with a 100X leverage, including ETHUSD, BTCUSD, LTCUSD, LINKUSD, XRPUSD, and XTZUSD. Users from all around the world may trade digital currencies with Phemex thanks to its secure and user-friendly trading platform. Its efficiency is exceptionally good, as seen by the fact that it now ranks high for the daily trading volume. The trading volume of an exchange is crucial for users. Here, one may securely trade using a variety of trading techniques.
Aspects of Phemex
It has numerous characteristics and benefits. One of Phemex’s most appealing qualities is its ease of use; even a non-specialist would have no issue navigating the website and initiating trade volume. Additionally, Phemex provides a wallet interface, which only benefits the users more. One other advantageous aspect of Phemex is that no KYC is necessary to use the site. Also, a free spot exchange service is provided. Users adore this aspect of the website. The website provides customers with a Phemex sample account so they may trade without taking any risks. The website offers trading on derivatives exchanges with leverage up to 100x and BTC or USDT settlement.
Phemex’s services and products
Phemex offers a variety of products and services that are quite beneficial to customers. Phemex’s multiple components include spot trading. Another prominent function provided by Phemex is the ability to begin trading by moving Bitcoin from a crypto hardware wallet to a website that deals in digital assets. The wallet’s deposits of USDT and Bitcoin are secure. Another well-liked feature provided by the cryptocurrency trading platform is the ability for consumers to trade with no trading costs.
Phemex charges
The site provides a wealth of options for Phemex withdrawal costs as well. On the platform, deposits are not charged. Phemex levies taker and maker fees of 0.075% and 0.025%, respectively, for trading. These prices are set following industry norms. Additionally, the website also has a financing rate that corresponds to the leveraged position. In other words, a heavily leveraged position will affect equity issues significantly.
Methods of deposit and withdrawal
Users of Phemex wallet may withdraw money and make deposits using credit cards and bitcoin. Additionally, there is a minimum withdrawal threshold of 0.002BTC. It cannot be used without first purchasing Bitcoin. Users have two options: they may join Phemex and then deposit BTC into their BTC wallet to enter the market from there. To trade Bitcoin-settled contracts, users must then fund their trading accounts with pre-deposited funds from a wallet. Users may also trade USD-settled contracts by real-time transferring BTC from their top cryptocurrency wallets to their USD trading account. Customers, on the other hand, have no trouble withdrawing money. All a user has to do to accomplish a withdrawal is enter their wallet address, and the amount they want to withdraw in Bitcoin, and then use standard 2FA to complete the transaction. Unfortunately, there doesn’t seem to be a mechanism to white-list Bitcoin addresses, unlike other exchanges like Coinbase. This could be considered a security flaw.
Security on Phemex
The safest cryptocurrency exchange is Phemex because it uses a hierarchical Deterministic Cold Wallet System that gives unique cold wallet deposit addresses to each customer in terms of security. All of these deposits are regularly gathered and sent through offline signature to the business’s multi-signature cold wallet. The website processes withdrawal requests three times each day, which might account for the abnormally long withdrawal wait times. The Amazon Web Service (AWS) Cloud, a widely accepted industry standard that satisfies or exceeds safety and security criteria, supports the platform’s servers. Additionally, Phemex divides trading zones on its internal network using firewalls.
Phemex bonus information
It offers its members some benefits when they complete the following three tasks:
Open an account
A user may register for an account on the website as the initial step in utilizing Phemex. Users get a $2 incentive upon establishing an account. You may utilize the bonus money that is instantly deposited into your account to begin trading on the platform. Additionally, new customers may get a Welcome Bonus of up to $100!
Make your first deposit
You will get a bonus on your first deposit if you utilize Phemex. The highest bonus one may get from this facility is $60, and to access this advantage, one must deposit at least 0.2 BTC.
Publicize via social media
Once you have a trading account with Phemex, you may earn an extra $10 as a bonus by liking and mentioning them on social media.
