Reviewing Phemex exchange: How is it reliable for users?

Looking at the present scenario, we can observe the rising prominence of digital currencies in the financial world. People have been showing interest in exploring topics like how to liquidate Bitcoin, titanium blockchain review, and more others. Several sites have initiated dealing in the digital money field. One such is the Phemex exchange.

It is a reliable site and free from any inconvenience to the users. Also, it is beneficial in converting their crypto wealth into profits. The need for Phemex emerged after its founders discovered major flaws in cryptocurrency trading, credibility, and professional approach.

Knowing more about Phemex exchange & its motive

Phemex exchange has the objective of giving the advantage of hassle-free trading to both the novice and traders with experience. It aims to be the top crypto platform in the market and give advice on investment. The headquarters of Phemex is located in Singapore. There are 8 ex-executives from the investment banking company Morgan Stanley who are behind the operation of this crypto exchange in 2019.

At Phemex, users are at the advantage of exploring 20 trading pairs including XRPUSD, BTCUSD, and LINKUSD with 100X leverage. Phemex exchange facilitates trading in top digital currencies like Bitcoin, Tether, Bitcoin Cash, Ethereum, Litecoin, and many more. It is supportive of only one fiat currency, which is the United States Dollar.

Countries in support of Phemex

There are many big countries including Hungary, Angola, Malawi, Barbados, and various others. This crypto exchange has even got support from India. Where most of the cryptocurrency exchanges have their native token, for example, BNB token of Binance exchange and others, there is no native token of Phemex exchange till yet.

Other advantages

• There are other advantages of Phemex exchange to look at. There are no charges for deposit fees in the Phemex exchange.
• In short, it is free. Buy payment of 0./1% fees for a transaction is applicable for the standard users (either makers or takers). The withdrawal fees depend upon the digital currency you choose.
• In case you are stuck with a problem and are unable to find a solution, the Phemex exchange also guarantees you customer support through Help Centre Support, mailing, and live chatting.
• This crypto trading platform claims to be reliable and lets users practice trading of cryptocurrencies globally via a reliable channel guaranteeing security and not letting them face any difficulty in traversing through.
• Phemex excels in proving its efficiency. At present, this cryptocurrency exchange ranks at 6 in terms of the trading volume.
• Users need not have to bother about safety for trading here as it comes with the provision of varied strategies of trading.

Working of Phemex exchange

The functioning of Phemex is not at all complicated, instead, it is very simple. Users have to create their accounts here. After registration, they can log in and begin with the trading and can earn interest.

Characteristics of Phemex

Phemex is acquainted with many characteristics and more benefits. Some of them are mentioned below:

• One of the major advantages of Phemex exchange is its user-friendly interface. Hence even if someone does not hold knowledge of many technicalities, still, he or she won’t find it difficult in navigating through the website and can begin trading volume. Phemex also provides a wallet interface that too comes as extended help for users.
• Often users have to go through the mandatory process of KYC on most exchanges, only then they can access the trading platform. Well, that is not the case with the Phemex exchange. You don’t have to complete the process of KYC to use the platform.
• Following more advantages, Phemex includes the provision of spot exchange with no requirement of fees. This is one such rich feature of this site liked by most people.
• The crypto trading platform also provides a Phemex demo account. With this feature, users are at the advantage of trading with no possible risks.
• The derivatives exchanges of Phemex can trade up to 100x leverage plus settlement of Bitcoin or Tether.
• Akin to many cryptocurrency exchanges that facilitate mobile apps for their users, Phemex exchange also offers its mobile app for its users which they can use at any place at any time.
• Besides all these Phemex also benefits its users with a welcoming program which is account opening and expecting ample bonuses plus facilities to gain on the platform.
• At Phenex, a user can earn up to 10% of interest on a Phemex deposit of United States Dollar in a specified savings account.
• If a user gets stuck on some issue, then there is customer service available 24/7 to help him/her in solving it.

Final words

So this is all you need to know about Phemex exchange. Today, in this article we briefed you about this Singapore-based crypto trading platform and how it is so beneficial in terms of its services for the users. One such is that it does not ask you for the mandatory process of KYC as we see in most cryptocurrency exchanges. Having a user-friendly interface of Phemex makes it an appealing exchange for not only experienced but non-specialists also. Log on to Cryptoknowmics to know how to become a blockchain consultant.