Investing in crypto is currently one of the best ways to diversify investment portfolios. And since 2020 the numbers of people invested in crypto have kept on\u00a0rising.<\/p>\n
This led to the emergence of crypto trading platforms. One notable platform is MEXC Crypto exchange.<\/p>\n
On this guide, we\u2019ll go through how to get started with MEXC in order to build a profitable crypto portfolio as a beginner.<\/p>\n
Getting started with MEXC as a\u00a0beginner<\/p>\n
MEXC that was formerly known as MXC exchange is a crypto exchange platform that provides a wide range of crypto trading services that include spot trading, futures trading and margin\u00a0trading.<\/p>\n
Think of it as a one stop shop for everything crypto.<\/em><\/p>\n Essentially, this means you can buy, sell and trade crypto. MEXC has an excellent user-interface with a huge variety of digital assets. This makes it a perfect platform for beginners.<\/p>\n A very wide range of cryptocurrency<\/strong>– MEXC is home to a ton of cryptocurrencies giving traders the ultimate privilege to diversify holdings and spot trading opportunities.Comes with a user-friendly interface<\/strong>– We all know the struggles of using a complex user interface. Its even harder when navigating a crypto exchange platform. However, MEXC has built a platform designed with simplicity to ensure beginners can trade with\u00a0ease.Well-equipped with Advanced trading tools<\/strong>– Not only is MEXC perfect for beginners, it serves its advanced users with Futures contracts and margin trading. And hence its also an excellent choice for seasoned\u00a0traders.Robust security features<\/strong>– MEXC is big on security. It ensures security of traders assets with a solid 2-FA (two-factor authentication)<\/em> and cold storage. Security is an important feature for crypto exchange platforms and MEXC fulfills this detail in its operations.Quality educational materials<\/strong>– MEXC offers resources to its users that help beginners in understanding blockchain technology, crypto trading strategies and general market analysis.<\/p>\n Getting started with your trading journey on MEXC doesn\u2019t take much effort. Here\u2019s how to get started>><\/p>\n Creating your MEXC account<\/strong>– To get started with trading on MEXC, visit MEXC official\u00a0website.<\/p>\n Proceed to enter your details (either phone number or email), <\/em>& click on \u201csign\u00a0up\u201d<\/em>.<\/p>\n While signing up, you can use this MEXC referral code \u201cmexc-1WN8S<\/em><\/strong>\u201d<\/em> to get a 10% off on all trading fees an up to $1,000 worth of\u00a0bonuses.<\/p>\n 2. Ensure you create a secure MEXC account<\/strong>– When creating your MEXC password, make sure to use a password with letters, numbers & special characters.<\/p>\n Its also crucial to enable 2FA for maximum security.<\/p>\n 3. Verify your Identity(KYC)<\/strong>– Verifying your identity plays a vital role in security as it prevents unauthorized access to your MEXC account & ensures protection against fraud, identity theft and any other cyber\u00a0threats.<\/p>\n Once you\u2019ve registered your MEXC account, click on the user icon that\u2019s at the top left corner and select \u201cidentification\u201d <\/em>and proceed to\u00a0verify.<\/p>\n You\u2019ll be required to submit a valid ID and follow any further instructions.<\/p>\n 4. Funding your MEXC account<\/strong>– Before actively trading on MEXC, you need to deposit funds to your account. There are 2 ways you can do\u00a0this:<\/p>\n Fiat currency deposit<\/strong>– On MEXC users can deposit fiat on their account by using payment methods such as bank transfers & credit card payments. To do this navigate to \u201cbuy crypto\u201d<\/em>>>Debit\/credit card <\/em>and proceed with\u00a0deposit.Crypto deposit<\/strong>– Incase you have crypto in another exchange, you have the option to deposit it into your MEXC\u00a0account.<\/p>\n To do this, copy your MEXC wallet address go to the platform that you hold the crypto asset, select the crypto you intend to deposit, copy the MEXC address and initiate\u00a0deposit.<\/p>\n Note:<\/em><\/strong> Be keen to ensure the the wallet address and network type is correct to avoid potential loss of your crypto\u00a0assets.<\/em><\/p>\n 5. Navigating MEXC trading dashboard- <\/strong>With your MEXC account funded, go through MEXC\u2019s dashboard to grasp MEXC setup. There are 3 main sections of MEXC trading dashboard:<\/p>\n Spot trading<\/em><\/strong>– In here, traders can buy and sell crypto at the current market\u00a0prices.Futures trading<\/strong>– This arena is mostly for advanced traders where one can speculate the future price of a crypto asset. MEXC provides futures contacts with leverage.Margin trading<\/strong>– Margin trading involves traders borrowing funds to improve their position size for a chance of higher returns, but also means increased risk.<\/p>\n As a beginner, its recommended to start with spot trading before exploring any other advanced trading strategies.<\/em><\/p>\n 6. Placing your first trade on MEXC<\/strong>– In order to get started with your first trade, navigate to \u201cspot\u201d<\/em> on the trading dashboard.<\/p>\n Choose the trading pair that you intend to trade. (eg. BTC\/USDT)<\/em> on the top right section of the spot trading\u00a0page.Choose either between a market order and a limit order. A market order allows instant purchase while a a limit order allows you to set a desired price to\u00a0execute.Then proceed to enter the amount of crypto you intend to buy or sell by clicking on the \u201cbuy\u201d<\/em> or \u201csell\u201d<\/em>\u00a0option.<\/p>\n 7. Monitoring your trades<\/strong>– Once you\u2019ve placed a trade, you can monitor it in the \u201corders\u201d<\/em> tab. This is how you can track any open and past orders. Additionally, you can view your trade history and also analyze trading performance.<\/p>\n 8. Withdrawing assets from MEXC- To withdraw funds from your MEXC account, navigate to \u201cassets\u201d tab and select \u201cwithdraw\u201d. Be careful to use the correct wallet address and ensure all details are right before initiating transaction.<\/p>\n Start trading small<\/strong>– Do not be in a hurry to put large amounts of trading assets. Begin with a small amount to grasp how the platform works and gradually proceed to advanced trading strategies.Be informed always<\/strong>– Being in the crypto space, its crucial to keep up with news and updates. This is because the crypto market is highly volatile.Always use stop-loss orders<\/strong>– The best way to protect your crypto investments is by setting stop-loss orders to decrease potential losses.Always practice Risk management<\/strong>– Never invest more than you can afford to lose. And make sure to diversify your portfolio.Never stop learning<\/strong>– Make use of MEXC educational resources and participate in any active webinars with the community on\u00a0MEXC.<\/p>\n Starting your trading journey on MEXC is a rewarding experience. As a beginner, use this guide to build confidence in your MEXC trading endeavors and to make informed decisions.<\/p>\n MEXC is your ideal crypto exchange platform with the right tools and support to increase your chances of success with crypto\u00a0trading.<\/p>\n Get started\u00a0today>><\/em><\/strong><\/a><\/p>\n Disclaimer<\/strong>: This article is meant for educational purposes only and should not be construed as an investment advice.<\/p>\n Affiliate Disclosure: <\/em><\/strong>This blog post may contain affiliate link<\/em>s.<\/p>\n A Beginner\u2019s Guide to Trading on MEXC<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" Investing in crypto is currently one of the best ways to diversify investment portfolios. And since 2020 the numbers of people invested in crypto have kept on\u00a0rising. This led to the emergence of crypto trading platforms. One notable platform is MEXC Crypto exchange. On this guide, we\u2019ll go through how to get started with MEXC […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-17964","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17964"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17964"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17964\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}So why choose\u00a0MEXC?<\/h4>\n
Easy step by step guide to start Trading on\u00a0MEXC<\/h4>\n
Some tips for Beginner traders\u00a0MEXC<\/h4>\n
Conclusion<\/h4>\n