MEXC has built a reputation as the go-to exchange for degens chasing early memecoins and low-cap altcoins. As of October 2025, it reports $3–4B daily trading volume on CoinGecko and CoinMarketCap, though its liquidity depth can vary by pair.
It lists tokens faster than almost anyone else, sometimes within hours of launch, which makes it a magnet for traders who don’t want to wait for Binance or KuCoin. But with speed comes risk: liquidity is often thin, slippage can be brutal, and support isn’t always reliable.
📜 Background & Reputation
MEXC launched in 2018, headquartered in Singapore, and quickly positioned itself as the “degen-friendly Binance alternative.” While Binance became more compliant, MEXC doubled down on rapid listings, high leverage, and low barriers to entry.
It’s not as regulated as Coinbase or Kraken, which limits its reach in the US and Europe, but that’s also why it appeals to degens. Its reputation is mixed: highly respected for listings, but criticized for service and transparency.
🚀 Features and Offerings
MEXC’s strengths are clear:
- Spot Listings: Thousands of tokens, including ultra-low-cap projects and fresh memecoins.
- Futures Trading: Up to 200x leverage on some pairs, putting it in the same league as Bybit for degens.
- Launchpad/Launchpool: New projects often debut here, giving early access to hungry traders.
- Earn Products: Staking, savings, and high-yield promos.
- Mobile App: Functional and fast, though not as polished as Binance or Coinbase.
🛡️ Safety and Trust
MEXC hasn’t reported a major hack, which works in its favor. But it has been accused of inflating volumes on some pairs — CoinGecko and CMC rank it highly, but “real volume” trackers sometimes flag concerns.
As of 2025, MEXC does not publish a full third-party proof of reserves. It claims to use cold storage and security protections like 2FA and withdrawal whitelists, but transparency is weaker than OKX or Binance.
User reviews highlight both sides: some love the listings, others complain about withdrawal delays or sudden maintenance.
🎭 What the Users Say
Positive:
- “Best exchange for catching memecoins before they pump.” — Reddit
- “Huge variety, fast listings, feels like Binance used to.” — App Store review
Negative:
- “Withdrawals froze during volatility.” — Trustpilot
- “Support is useless when funds get stuck.” — Google Play review
- “High slippage on low-cap tokens.” — community feedback
The vibe: degens tolerate the flaws because the listings are too juicy to ignore.
🌍 Who Actually Uses MEXC?
MEXC is popular in Asia, Africa, and Latin America, where traders want exposure to hot tokens fast. It’s also well known among CT degens who chase every new memecoin launch. In the US, it’s harder to access directly, so most American traders stick with Bybit or KuCoin for similar plays.
📊 Real Examples
- In 2023–2024, MEXC was one of the first exchanges to list tokens like PEPE and TURBO, attracting a flood of degens.
- During meme season, many early buyers used MEXC to catch gains before Binance listings.
- Complaints also spiked during high volatility, when withdrawals were temporarily paused.
🎰 Should a Degen Use It?
MEXC is like the underground poker room where all the action happens before the casinos catch on. You’ll find gems here, but also plenty of traps.
For memecoin hunting and early listings, it’s one of the best. For long-term storage or institutional-grade trust, it’s not.
🏁 Final Degen Verdict
MEXC is the memecoin hunter’s paradise. It’s fast, aggressive, and stacked with listings. But with that speed comes higher risk: liquidity issues, customer support complaints, and limited transparency.
Use it for sniping new coins and quick flips. Don’t treat it as your main vault.
WAGMI — if you know when to cash out.
