Phemex

Phemex Cryptocurrency Exchange Overview

Phemex is considered to be the fastest and most reliable cryptocurrency exchange, ranking among the top ten platforms in terms of perpetual contract trading volume. The company attracts customers with its easy registration, favourable exchange terms and the ability to work via a mobile app. The spot market offers 29 types of coins and 23 types of futures currencies. Among the most popular pairs according to traders: ETH/USDT, BTC/USDT, ADA/USDT, LTC/USDT and LINK/BTC.

Services

The most popular ways to make money on the crypto exchange are instant trades and open-ended futures. In addition to that, available:

  • Purchasing cryptocurrency using fiat money.
  • Learning the nuances of crypto trading in demo mode.

History

The company was launched in late 2019 by eight former executives from financial conglomerate Morgan Stanley. The team of traders and investors was led by the initiator of the project, chief developer Jack Tao.

Bonuses

The exchange’s official website contains information on special offers:

  1. Deposit bonus. Verification and deposit of at least 0.003 Bitcoin or 0.04 Etherium entitles you to receive a gift of €10.
  2. Reward for signing up for a Twitter account. After verifying and reposting the company’s tweet, €10 can be received.
  3. Conducting trades. The site gives $10 for a single order on the spot market and for a contract operation on BTC/USD from €5000.
  4. A learning bonus implies a small incentive for watching lecture videos and taking a test.
Phemex exchange active markets and pairs

Spot Trading

Provided with instant delivery of cryptocurrencies and their crediting to exchange wallets.

With open-ended contracts

The purchase of futures provides the right to purchase the underlying asset in the future.

Cryptocurrency for fiat

Exchange followed by storage of cryptocurrency in a wallet is suitable for passive investing or current settlements.

Deposit

Depositing is possible in cryptocurrencies only, with no limit on the maximum amount. The current minimum amount is displayed in the “Terms and Conditions” section.

Withdrawal of funds

Transferring funds to external wallets is allowed after passing the two-factor authentication procedure through the application.

Security

The high reliability of the service is confirmed:

  • The unconditional protection of client wallets, ensured by the creation of “cold” vaults. Each account is assigned a personal address. Withdrawal of funds is permitted after a thorough check of the application by security staff.
  • Protection of the system against hacking. Not a single case of a successful hacker attack has been registered during the years of crypto-exchange operation.

Additional measures are in place to ensure the security of the accounts. Most financial transactions are performed if two-factor authentication procedure is enabled. If suspicious activity is detected, the account is blocked until the circumstances are clarified.