What is Phemex, its mission

Phemex platform was created in 2019. In a short time, the exchange managed to take a place among the best. On this service only cryptocurrency transactions are available. Fiat money on it does not work. The exchange acts like a stock market, applying the newest technologies of the Tokyo Stock Exchange.

The developers have set a goal to create a reliable platform that could be convenient for beginners and experienced users. The fact that the exchange has not had problems with the security of client assets until now speaks volumes.

Phemex exchange uses number of tools to create favorable conditions for investing and earning. This also applies to passive ways of making money.

How the platform works

Few cryptocurrency services provide clients with such favorable conditions as Phemex. The exchange makes it possible to:

• trade spots;
• earn on futures;
• quickly convert assets;
• buy and sell assets through a bank card;
• receive various bonuses, including for registration on the site.

Premium membership gives additional privileges to customers. One can buy or obtain it on Phemex for free. Participation in the contest is a good opportunity to win a premium membership.

A brief overview of Phemex

Exchange operates worldwide, with the exception of a few countries. 300,000 transactions take place on it per second. All operations are under constant control for security. Phemex provides clients with cold wallets and two-factor authentication to store assets.

Users get round-the-clock support in several languages. The administration is always ready to answer customers’ questions.

To register you need an email and a password only. The interface responds to an order in less than 1 millisecond. Even in conditions of high volatility and a large number of requests, one can rely on the smooth operation of the platform.

Key features

Providing leverage of up to 100 is one of the most important distinguishing features in Phemex. The exchange attracts users with low and zero commissions. In addition, it is dynamically developing. In just two years of work, it managed to enter the top ten in volume of futures transactions.

The platform offers several ways to make passive money. Clients’ assets are reliably protected. Round-the-clock customer support also works. For newcomers, there are educational resources on Phemex. Experienced players can take advantage of several VIP levels.

Spot trade

Customers can use three types of orders on the Phemex spot trading:

• Limit orders. In these orders, clients specify a bid or ask price. After placing an application, you should expect a counter-offer. In addition, you can configure in other options: “Valid until canceled”, “Execute immediately or cancel”.
• Market. Quick transaction at the current rate of the crypto is available with the number of coins that the client has specified in the application.
• Conditional. Such orders in Phemex can apply only to traders with the full premium account. They can set the trigger price in a limit or market order and choose one of the three available settings in the limit order.

How to trade in copies

The copy-trading on the exchange allows traders, especially beginners, to follow the actions of experienced colleagues. Thus, Phemex newcomers receive passive income and gain experience. Experts’ actions are copied automatically.

Investments

In the matter of choosing the best cryptocurrencies in Phemex for investment in 2023, experts still put Bitcoin (BTC) in the first place. Several coins can claim the second line:

• Ethereum (ETH);
• Algorand (ALGO);
• Tezos (XTZ);
• Solana (SOL).

Among other contenders for leadership, experts call Dogecoin (DOGE). Interest in this electronic currency is fueled by Elon Musk’s hints to integrate the coin into the Twitter he purchased.

The developers continue to work on improving the Cardano crypt (ADA). The project has recently been updated in Vasil.

Experts recommend several more promising currencies:

• Zcash (ZEC);
• Huobi (HT);
• Filecoin (FIC);
• Internet Computer (ICP);
• Helium (HNT);
• WOO Network (WOO);
• Kadena (KDA);
• Biswap (BSW).

For those who do not want to take risks, experts recommend to pay attention to stablecoins on Phemex.

Phemex review: advantages and disadvantages

 Phemex: who is the platform good

The platform has a convenient and pleasant interface and is suitable for the majority of customers. The Phemex’s training programs help beginners quickly get used to the virtual money environment. Among them are Phemex programs Academy and Learn and Earn. Users with experience get good bonuses.

For owners of premium accounts there is a zero commission. By the way, it is minimal for other participants.

Popular cryptocurrences for different purposes

 Commissions for withdrawing well-known cryptocurrencies

Better perks

The platform can be ranked among the best in terms of creating preferential conditions for customers. Phemex offers customers:

• several ways of passive earnings;
• premium membership and VIP levels;
• various ways to deposit and withdraw funds;
• copying transactions;
• large amount of currency pairs.

KYC is not required when registering on Phemex.

Who are zero transaction fees available for

The full premium version gives users several advantages. The exchange creates conditional orders for them, provides hourly unlimited withdrawal of assets without a schedule. A premium membership holder can give a trial to another trader.

A 30-day free premium account on Phemex is available through the active support of the exchange in social networks. One can use three more ways to do this:

• register a friend through a referral program;
• make a deposit over 0.02BTC;
• complete one or more orders with a BTC/USD contract for at least $1000.

Phemex offers trading with leverage up to 100x. But you have to be careful. There is a risk of losing a lot of money.

Earn interest with fixed and flexible accounts

In fixed accounts, one can store assets for a certain period and receive increased interest for this. The percents here are not high, but you can withdraw actives when you want.

Competition mode makes investing into a game funny and profitable

The GameFi technology appeared in the crypto in 2013, but a strong increase in interest in it was observed in 2021. This was facilitated by the active use of DeFi and NFT technologies. Traders have the opportunity to earn coins on Phemex playing games.

The design and usability of Phemex

Nice Phemex interface is noted by most users. In addition, it is arranged in the form of blocks that can be dragged, reduced and increased.

Phemex KYC and account verification

The KYC (Know Your Customer) program confirms the identity of the client. This is a requirement for large exchanges to counteract money laundering. On Phemex, only the owners of a premium account are verified.

Registration process

To register on Phemex, you need to:

1. Specify your email address and password.
2. Agree to the terms of the exchange.
3. Go to the mail and enter the code from the letter.

How to trade on Phemex with zero commission

Phemex trading commissions are low. Nevertheless the service makes it possible to reduce them to zero. For this, you should increase the user level. It depends on the volume of transactions on Phemex. With the maximum level the taker can trade without any commission.

Deposit and withdrawal methods

There are no restrictions on depositing funds on Phemex. This can be done in several ways:

• by credit cards;
• cryptocurrency transfer;
• on the P2P system.

You must do the same to withdraw funds on Phemex.

Overview: security and privacy

Security is the priority of any cryptocurrency exchange. In all its existence, Phemex has never been compromised. This is the result of the constant work of developers to improve the security measures for the storage of client assets on Phemex. For this purpose the platform has created:

• cold wallets with a separate address for each user;
• insurance fund.

Mobile application

The site menu contains links to the App Store and Google Play. The mobile application is available by scanning a QR code. The application is compatible with Android and iOS.

The content of items in applications and browsers is the same. In both versions, clients have access to:

• spot trading and contracts;
• making deposits and withdrawing assets;
• buying coins with fiat money.

In the mobile application, you can also use the referral program and take part in competitions.

Overview: customer support

The developers have established round-the-clock customer support on Phemex. It is implemented in all languages supported by the platform. Messages are available in the pop-up chat. Communication can be called independently by clicking on the Chat button at the bottom right.

Countries present on the platform

Frequently asked questions

• Why should I choose the Phemex exchange?

According to user reviews, Phemex is one of the most convenient cryptocurrency platforms. The exchange is developing dynamically. For two years, it entered the top ten in the volume of transactions. Over the years of existence, there have been no problems with the safety of assets.

• Can U.S. citizens trade on Phemex?

Yes, US citizens can use the services of the platform.

• Is it good for newcomers?

The exchange is suitable for all categories of users. For new customers there are educational programs on Phenex. They can also take advantage of copying the trades of experienced traders. Thus, new customers gain experience, take less risk and receive passive income.

• What are the minimum deposits?

The exchange does not affect this indicator. The amount of deposit on Phemex depends only on the cryptocurrency. This information can be easily found on the official website.

• How long do I withdraw funds?

Premium users’ can withdraw assets every hour. Ordinary users can do this three times a day: at 08.00; 16.00; 24.00.