Greetings to all, my name is Alexey Greez. Today I want to share with you what I learned about the Phemex exchange. And I will also tell you what exactly I liked about this exchange. In general, this is my review of this exchange.
I apologize for possible mistakes in the text, therefore I do not know the english language perfectly and I can make mistakes in translation.
The history of the creation of Phemex
The official launch took place on November 25, 2019.
The platform was created by Jack Tao and his development team, former Morgan Stanley executives.
Jack Tao, like the rest of the developers, are seasoned Wall Street traders.
In 2017, while still traders, they revealed a lack of professionalism and insufficient reliability in the crypto industry.
At that time, there was significant growth in cryptocurrency.
Due to this team, Jack Tao decided to leave Wall Street and found Phemex, a trusted cryptocurrency exchange.
Phema is a reference to Greek mythology, where it represents public opinion and fame, and the ending MEX refers to trade exchange.
This is how the name of the Phemex platform was formed.
The main mission of Phemex
The team is solely focused on improving the crypto industry and developing cryptocurrency trading, I really liked the goals they are pursuing, I believe they will succeed!
The platform has several goals:
- Reliable, simple and fast cryptocurrency trading;
- Availability of the correct set of tools for each trader;
- Effective risk management and trading on the exchange;
- Increase of opportunities and rights of users.
The values and vision of the Phemex team
Jack Tao, along with his team, believes that they will become the most reliable trading platform in the crypto industry of all.
Here’s a quote from the development team:
The administration uses a user-oriented approach, that is, puts the customer first, which increases customer loyalty and significantly increases trust in the exchange, in comparison with other exchanges, where it will take several days to wait for at least some kind of response from support.
All tools on the platform were also developed taking into account user interest and are focused on it.
The platform team is not hidden, on the contrary, it is always available directly. They are actively collecting feedback on the platform across the Internet.
Phemex stands for reliability.
The team states that their platform is the most reliable. She is registered with MSB (Money Services Business). Each user of this platform can safely deposit funds on the exchange and trade them without fear for their safety.
A platform registered in the online financial crime investigation department, so all your funds are fully protected!
The main advantages of the Phemex platform
The Phemex exchange allows you to take leverage up to 100x, I personally used it myself, everything works properly and without errors, I liked the service.
This platform also has a TP and SL function, which means that the exchange has support orders & positions to set Take Profit and Stop Loss.
Low trading fees on the platform: Taker — 0.075% Maker — -0.025%
Another important factor specifically for me is the presence of a mobile application, since I spend a lot of time in the mobile version — for me this is undoubtedly a plus.
Deposits are accepted in anything! Bitcoin, altcoin, or fiat funds, you can replenish the balance of the exchange in any convenient way, without any verification! The user-centricity is immediately visible.
Plus, there is cross margin on the exchange. The calculation is provided in bitcoins and US dollars.
In conclusion, I can say that the Phemex exchange is a fairly competitive platform, everything is in the hands of the project administration, and I hope that they will not let us down and will soon "wave their hand" from the first places of all kinds of ratings of the cryptoindustry!
Twitter — https://twitter.com/phemex_official
Facebook — https://www.facebook.com/Phemex.official
Telegram — https://t.me/Phemex_EN
Medium — https://firstname.lastname@example.org
YouTube — https://www.youtube.com/channel/UCtPeiP4cn2K19fH3y7o2tOg
This article was written with love ❤️ by user greezgang for the Phemex competition.