How To Sell Bitcoin On Phemex

With the current emergence of cryptocurrency equally a leading fiscal domain, many sites accept started dealing in the same field. Among them, the Phemex trading platform appears equally i of the almost trusted and hassle-costless sites where people can plough their crypto wealth into profits. Phemex came into being as its founders noticed a lack of professional etiquette, credibility, and client back up in the cryptocurrency trade.

Phemex Summary

Official Website https://phemex.com/
Headquarters Singapore
Found in 2019
Native Token None
Listed Cryptocurrency BTC, ETH, BCH, LTC, USDT, and more
Trading Pairs 220+
Supported Fiat Currencies USD
Supported Countries Angola, Austria, Barbados, Finland, Greenland, Hungary, India, Malawi, Nauru & more
Minimum Deposit Depends on Trade Currency
Eolith Fees Complimentary
Transaction Fees Taker:0.075%
Maker:-0.025%
Withdrawal Fees Depends on Currency
Awarding Yes
Customer Support Mail service, Live Chat, Help Center Back up

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What Is Phemex and Its Mission?

Phemex holds the mission of making everyone and non simply experienced traders trade efficiently without taking whatsoever havoc risk. They march forward with the vision of making themselves the best cryptocurrency platform that is available in the market, along with offer sound investment communication.

In this Phemex review, we will focus on how it works, its primary features, the Phemex pros and cons of site, and a lot more. With its office based out of Singapore, Phemex is run past eight former executives of Morgan Stanley. Phemex substitution allows users to merchandise various trade perpetual contracts like ETHUSD, BTCUSD, LTCUSD, LINKUSD, XRPUSD, and  XTZUSD with a 100X leverage.

Phemex allows users from all over the globe to merchandise digital currencies through a medium that is safe and not too complicated to navigate through. The efficiency of Phemex is quite high as information technology is currently rated at #6 for the daily trading volume. For users, an exchange’s trading volume is very important. I can safely trade here with different trading strategies.

Phemex Review 2022 - Platform Interface

How Does Phemex Work?

Phemex works in a pretty simple fashion. Users have to create their account on the site, and later registration, they can log in to their account and start trading and earn involvement.

Phemex Quick Summary

  • Phemex is a crypto trading platform founded past eight former Morgan Stanley executives.
  • Phemex aims to provide its customers with a hassle-free and safe space to bargain in the crypto domain.
  • Phemex allows spot exchange without whatsoever fees.
  • Users do not demand to accept their KYC done to start using Phemex.
  • Phemex has a 24/7 customer back up team that helps its users to trade seamlessly at any betoken of the day.

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Features of Phemex

Phemex comes with many features and benefits. Some of them are mentioned in this Phemex review:-

  • One of the best things about Phemex is that it is extremely convenient, and even a non-specialist would non discover it difficult to navigate through the site and start trading volume. The Phemex besides offers a wallet interface that only helps the users more.
  • Another helpful characteristic of Phemex is that i does not require a completed KYC to start using the platform.
  • Phemex also offers spot exchange without any fees. Users profoundly enjoy this feature of the site.
  • The site offers a Phemex demo account so that users can merchandise without any associated risk.
  • The site derivatives exchanges trading with upward to 100x leverage and BTC or USDT settlement.
  • In that location is a mobile awarding of Phemex that allows you to use it anytime, anywhere.
  • Phemex has quite a generous welcoming program to offer to its new users. People opening an account on Phemex can wait to get a lot of bonuses and facilities to get started with on the platform.
  • A user holds the ability to earn up to ten percent of interest on a Phemex deposit of USD in a stock-still or flexible savings account.
  • Another benefit of Phemex is that its client service team runs 24/7 and ensures user satisfaction every time.

Phemex Review - Why Choose Phemex?

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Product and Services Offered by Phemex

Phemex offers a number of services and products that are hugely beneficial to users. One of the many features of Phemex happens to be spot trading. Another noticeable service that Phemex offers is that it permits y’all to start trading past transferring Bitcoin from a crypto hardware wallet to a digital asset trading site. The USDT and Bitcoin deposits remain safe within the wallet.

As per Phemex review, this platform as well allows its users to merchandise with cipher trading fees, which is some other popular service offered by the crypto trading platform.

Phemex Review: Pros and Cons


Pros

Cons
100X leverage trading. Citizens of the US are not accustomed to merchandise on Phemex.
Various cryptocurrencies are supported on the platform. The site offers a lower amount of liquidity in comparing to Bitmex and other similar sites.
A user can create sub accounts and manage the sub account arrangement.
The platform is community focused.
One does not need to accept their KYC washed to start spot trading on Phemex.
The Phemex user interface offered by the platform is modular. Phemex allows its users to trade with many advanced types of orders.

Phemex Registration & Login Process

Registration Process

The registration process on Phemex is quite like shooting fish in a barrel. The step-by-pace guide regarding registering yourself on Phemex is described below:-

  • The initial pace of the registering process on Phemex is to go to the official site of the trading platform.
  • Once on the page, you lot demand to provide your email id along with a countersign strong plenty that you lot could recall besides.
  • Once you are washed with providing this information, you will need to confirm that the email id you have provided is a valid one. Y’all will be able to practice and so past clicking a particular link provided in your mailbox by Phemex. In instance yous cannot find the link in your mail inbox, you lot might also cheque the spam folder.
  • Make certain that the email yous provide is active and secure because all the information related to your Phemex accounts, like OTP codes, various relevant notifications, and security updates, along with 2FA hallmark, will be sent to your email but.

Phemex Review - Registration Process

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Login Process

Now that you accept registered yourself on Phemex, y’all volition demand to log in to your account to outset your crypto trading journey. The logging-in process is easy and secure, and the site uses a 2FA authentication along with OTP and other relevant measures to make it absolutely certain that your account is not hacked.

The login process on the site is described below:-

  • Equally the outset step, you demand to visit the website of Phemex. Make sure that you lot have visited the official website of the trading platform and take non been redirected to some simulated hacker’due south page fishing for your login credentials.
  • Subsequently you are on the homepage of the site, you need to click on the ‘login’ button.
  • Upon clicking on login, you will be prompted to enter your e-mail id and countersign that y’all had used while registering yourself on the site.
  • You will then be asked to enter an OTP that has been sent in your mail inbox.
  • You will have to go to your inbox, copy the OTP and paste information technology into the relevant box on the site to complete the login process.

Once you accept successfully logged in, you lot demand to ensure that yous accept updated your account security past completing your account’s configurations and security settings and have as well activated the 2FA security characteristic that the site provides.

Phemex Sub-Accounts

Since Phemex allows its users to have sub-accounts or accounts, the site ensures that users can switch between their various secondary accounts seamlessly. This Phemex review includes the steps that one needs to follow to manage, utilise and switch between their sub-accounts in a hassle-free mode.

  • Every bit the outset pace, you have to go to Phemex.com/sub-accounts.
  • Once you are on the mentioned web address, you lot will exist able to create or delete or switch between the various sub-accounts that yous have. If you have just one sub-account, you volition be able to manage it following the same process.

Some other way that you can follow to reach your sub-accounts page is:-

  • Firstly, log in to your Phemex account.
  • In one case you accept logged in, you lot take to click on your contour name situated on the upper right side corner of the page and click on ‘Sub-Accounts.’

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Upon clicking, you will be taken to the relevant page, where you lot volition be able to manage your sub-accounts smoothly.

How to Trade on Phemex with Zero Fees?

Phemex being 1 of the best amongst the spot trading platforms, allows its users to merchandise with zero Phemex trading fees. Below mentioned are the steps that ane needs to follow in order to Trade with Phemex with cypher fees:-

  • As the starting time step, you will have to log in to your Phemex account.
  • In one case you have logged in, you will take to navigate to the menu on the top and hover over the heading that says ‘products.’
  • Yous will and so have to make use of the driblet-down bill of fare and click on ‘spot trading.’
  • In the adjacent step, yous volition accept to choose the crypto asset you want to trade. You lot can choose assets like Ethereum or Bitcoin.
  • Next, you volition have to enter the amount that yous would similar to buy or sell back to USDT.
  • For safety, yous might consider reviewing the order once to ensure all the details you have provided are correct.
  • As the final step, you will accept to click on the red ‘sell’ or green ‘buy’ button to finalize the purchase.

Co-ordinate to the Phemex website, the exchange also offers perpetual contracts trading for GOLD/USD, every bit well as other assets such as Due south&P 500 equities, stock indexes, interest rates, FOREX, bolt, energy, and metals, which will be available on the platform soon.

Phemex Reviews - Trade Crypto with Zero Fees

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Phemex Bonuses Details

Phemex provides its users a number of bonuses upon performing iii dissimilar tasks so cheque them below:-

Opening an Account

As the offset pace of using Phemex, a user can open their account on the site. Users become a $2 opening-an account bonus. The bonus corporeality automatically is added to your account, and you lot can utilise it to beginning trading on the platform. And, also new users tin can earn up to $100 in Welcome Bonus!

Depositing For the Outset Time

If you are a Phemex user, you will be getting an boosted bonus on your first deposit. The maximum amount of bonus one can get from this facility is $60, and depositing at least 0.2 BTC is required to unlock this benefit.

Shout Out on Social Media

In one case you have your trading account on Phemex, liking them and giving them a shout-out on social media will get you an additional $ten every bit a bonus amount.

Phemex Reviews - Welcome Bonus by Phemex

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In total, you lot can expect to get equally much every bit $80 every bit your bonus amount from Phemex. Yet, you should keep in mind that these bonus amounts might change at whatever given point in time.

Besides these, Phemex premium account holders savor a number of boosted benefits.

Phemex Fees

The platform offers ample facilities regarding Phemex withdrawal fees as well. The deposits on the platform are free.

However, in matters of Phemex trading fees, Phemex charges a 0.075% taker fee and -0.025% maker fee. These rates are charged according to industry standards.

Besides, the site also happens to have a funding rate as per the leveraged position. In other words, a position that is highly leveraged will take quite an touch on on matters of equity. For more details click here.

Phemex Deposit and Withdrawal Methods

Phemex wallet allows its users withdrawal and deposit with credit cards and Bitcoin. There is a certain minimum withdrawal limit likewise, set up at 0.002BTC.

You must purchase Bitcoin before utilizing Phemex. Users may either deposit BTC into their BTC wallet and piece of work their way into the market place from there or on Phemex once they’ve joined. Users must then fill their Bitcoin trading accounts with pre-deposited money from a wallet in order to trade Bitcoin-settled contracts. Users may also swap BTC from their best crypto wallets to their USD trading business relationship at a real-time rate to trade USD-settled contracts.

Withdrawals, on the other mitt, are a cakewalk for customers. All a user needs to do is input their wallet address, the amount of Bitcoin they want to withdraw, and then complete the transaction using normal 2FA capabilities. Unfortunately, dissimilar other exchanges such as Coinbase, at that place appears to be no mode to white-list Bitcoin addresses. This might be construed equally a security flaw.

Phemex Reviews - Invite Friends and Earn

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Phemex Trading Platforms

The Phemex platform was created to ensure that both beginners and experienced crypto traders tin can trade on Phemex with equal ease.

The broker house of Phemex uses the best technology in terms of security and web evolution and therefore is able to offer one among the best cryptocurrency trading platforms. Users can e’er be assured that no matter what type of volatility is going on in the crypto market, this particular site will go on to provide a secure, safety, efficient, and stable contract trading surround.

Another interesting fact about this platform is that it has not recorded whatever incidence of the site hanging or freezing, something which Bitmex, a big name in the crypto industry, had to get through.

Phemex Reviews - Phemex Trading Platform

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Phemex Security

Phemex has a hierarchical Deterministic Cold Wallet Arrangement that assigns dissimilar cold wallet deposit addresses to each user in terms of security and that makes it the most secure cryptocurrency commutation. All these deposits are collected and sent to the company’s multi-signature common cold wallet through offline signature on a regular basis. Withdrawal requests are processed thrice per day on the site, which might be the reason backside the unusually high withdrawal expect periods.

The platform holds upward its servers with Amazon Spider web Service (AWS) Cloud, and that is a recognized industry standard that meets or exceeds prophylactic and security requirements. In addition, Phemex uses firewalls to divide trading zones inside its internal network.

Technically, this contract trading platform happens to exist made upward of 2 primary elements: the CrossEngine and the TradingEngine, which match customer orders based on the priority of time and its cost.

The developers have too said that there would be almost little downtime for traders. In fact, Phemex says that consumers won’t discover any unexpected system downtime. This is owing to its recovery technology, which ensures consumers have 99.99 percent uptime. If this holds up over fourth dimension, it will be critical for exchanges that are open up 24 hours a day, seven days a week.

Still, because Phemex is a new derivatives trading exchange platform, only fourth dimension will tell how it will reply to hostile assaults when they inevitably occur.

Phemex Reviews - Security Measures

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Supported Currencies and Countries

Phemex offers the 21 cryptocurrencies, and some of them are:-

  • Bitcoin(BTC)
  • Ethereum(ETH)
  • Chainlink(LINK)
  • Dogecoin(DOGE)
  • Cardano(ADA)
  • Litecoin(LTC)
  • Bitcoin Cash(BCH)

Phemex allows a number of countries to trade on their site. Some of them are mentioned below:-

  • Angola
  • Republic of austria
  • Barbados
  • Finland
  • Greenland
  • Hungary
  • India
  • Malawi
  • Nauru

However, some countries like the US, North korea, Quebec, Republic of cuba, Singapore are non allowed on their platform.

Phemex Customer Support

Phemex offers an efficient customer support service that is available 24X7 to help the traders with any crypto-related query. The customer support team ensures that the investors have a seamless experience of transactions on the site.

Phemex Reviews - Customer Support

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Phemex Review: Conclusion

Thus past reviewing Phemex, we conclude that information technology provides a wealth of perks and prospects for cryptocurrency traders, with few downsides. But the website is uncomplicated to navigate and platonic for both novice and seasoned investors who are into crypto investing. Investors without much idea of trading strategies volition too detect the platform easy for investments.

FAQs

Is Phemex a Good Substitution?

Phemex, a relatively new crypto commutation site, is quite a good site with the necessary features and benefits.

Tin The states Citizens use Phemex?

Unfortunately, Phemex does non let US citizens to utilise the platform.

Does Phemex Have Fees?

Phemex offers the facility to merchandise on the site without whatever trading fees. However, a minimal network fee is charged.

Is Phemex Safe to Use?

After a thorough Phemex review, it tin be safely said that Phemex is a safety platform to use for crypto-related trading. Yet, users should review Phemex once themselves earlier getting started.

Is Phemex Commutation Regulated?

Despite being a popular commutation, Phemex has not still been regulated.

Source: https://www.cryptonewsz.com/cryptocurrency-exchange/phemex-review/

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