If you are new to trading, withdrawing and depositing cryptocurrencies can be confusing. Not only that but not knowing how to send cryptos the right way can end up in a loss of your funds.
In this article, we show you step by step, how to deposit cryptos to MEXC Global, one of the leading cryptocurrency trading platforms as of 2023. If you are not registered to MEXC yet, you can create your account here with only an email and password. We also covered the signup process in our full MEXC Global exchange review, which you can read here.
There are two ways to get cryptocurrencies on your MEXC Global account. If you don’t own any cryptos yet, you can buy them directly from MEXC. If you already own cryptos on another exchange or wallet, you can send them to your MEXC account.
Let’s start with depositing cryptos to MEXC from your other wallet.
How to deposit cryptos to MEXC step by step
After you created your account, you can start receiving cryptos on your MEXC account. First, head to the wallet overview section in the top right corner.
- Here you can see all of your assets across all of your MEXC accounts like Spot, Futures, Fiat, and Margin accounts. For deposits, we need the Spot account. Now click on “Deposit”.
- Now we select the coin that we want to deposit into our MEXC account. In this case, I will send USDT from a separate wallet into my MEXC account. In order to send USDT, I will have to select a network and generate a deposit address for it. I usually send USDT via the Tron Network, in short TRC20, because it is fast and cheap. Other popular USDT networks are the Binance smart-chain (BEP20) and the Ethereum chain ERC20. In this case, I selected USDT via the TRC20 network. Now click on “Click to generate address” to receive your unique USDT TRC20 address.
- Send the cryptos from your wallet to MEXC. Make sure to add the right network and address. In case of providing an invalid deposit address or the wrong network, your funds can be lost.
- After a few minutes, your USDT should arrive in your MEXC spot account.
Buying cryptos directly from MEXC
If you don’t own any cryptocurrencies yet, you can buy USDT directly from MEXC via credit card and bank account. For buying cryptos with a credit/debit card without a third-party provider, MEXC supports USD, EUR, and GBP. After purchasing USDT from MEXC, you can then go to MEXCs spot market and buy over 1500 different cryptocurrencies, or you can jump into the futures market right away.
If you want to use a card in a different currency, you can use the Express option, which is powered by the third-party providers moonpay, mercuryo, and banxa. They are all well-established crypto payment processors, and you can pay using over 30 different currencies including USD, EUR, GBP, INR, VND, KRW, JPY, TRY, AUD, and more.
For bank transfers, MEXC supports EUR and GBP via SEPA process.
Please note that for this process, you must finalize your advanced KYC process (Know your customer), which requires an ID or passport and a camera for facial recognition. This is mandatory due to money laundering regulations, as MEXC is a legitimate exchange. So if you have not done the KYC yet, go ahead and finish the process. It usually just takes a few minutes if everything goes smoothly. By doing KYC on your MEXC account, you also add another layer of security to it, and you increase your daily withdrawal limit to 200 BTC.
- Finalize the advanced KYC option in your MEXC account. Navigate to your profile and click on “Primary KYC”
- Now choose the “Advanced KYC” option, which requires Personal information and facial recognition and click on “Verify”.
- After your KYC is finished and approved, go from the home page to the top left corner and select the “Buy Crypto” dropdown and click on your preferred payment method. MEXC offers Credit/debit card, Global Bank Transfer, Quick Buy/Sell, and P2P Trading.
- Lastly, select your currency and the amount you want to spend and add your Card by clicking on “Add Card”. MEXC supports VISA and master cards for USDT purchases.
Now you know how to deposit cryptocurrencies to your MEXC Global account, and you can start trading! Trading on MEXC comes with some amazing benefits as they focus on delivering the best crypto trading experience. They offer some of the lowest fees in the whole crypto space, with 0% maker and 0.02% taker fees on the futures market! If you want to learn more about trading, make sure to check out this guide with the 7 golden rules for profitable trading.
FAQ for depositing cryptocurrencies into MEXC
Is MEXC legit or a scam?
MEXC is one of the biggest crypto exchanges worldwide, with over 10 million users, and MEXC Global even won the exchange of the year award 2021 in Asia. MEXC has also never been hacked and fully backs its customer funds, so it is safe to say that MEXC is very legit and not a scam at all.
Is depositing cryptos to MEXC safe?
MEXC claims to be one of the safest crypto exchanges. They have never been hacked, and on top of that, they provide full proof of reserves. That means that your assets on MEXC are backed 1:1 and, in most cases, by even more than 100%. They do not lend your money out to third parties, and there is no possibility of a bank run.
What to look out for when depositing cryptos to MEXC?
When depositing a cryptocurrency, there are some crucial things to look out for. Make sure you choose the right coin as well as the correct network. Some coins even require a “memo”. Always make sure to double-check that you: Choose the right coin, choose the right network, and proofread the full address.
How much does it cost to deposit cryptos to MEXC?
The costs of depositing cryptos to MEXC vary, depending on where you send your cryptos from and which network you use. A fast, cheap, and secure coin is USDT via the TRC20 network, which is a fixed $1 fee.
What happens when I use the wrong network?
This is different for each coin, but the worst-case scenario is a total loss of your funds, and your coins end up in nirvana. So always double and triple-check that all the details are correct.
How to avoid scams?
There is a very tricky scam that you should be aware of. So-called “clipboard changers” are viruses that can read your deposit address. When you copy and paste the address, they can change the pasted address to their own. To avoid becoming a victim of clipboard changers, always proofread the address that you just copied and compare it to the original source.