Review on Phemex by Joseph Bello
My Experience And Verdict About Phemex Exchange
I got to to know about Phemex from a friend who recommended the exchange to me because of its impeccable attributes. I have being using Phemex exchange for over a month and so I felt it well be good if I share my experience to other crypto traders.
Phemex exchange is multilingual ,it has languages like English Russian, Spanish, Japanese, Korean ,Chinese, French and German making it open to investors across the globe,I make use of the English language option since that is the only language I understand, moreover I found it very easy relating with the exchange interface when using the English language option. US investors are not permitted to trade on the exchange due to US regulatory body hassles.
It is very easy for you to find a buyer and seller on this on exchange who are willing buy or sell at great and reasonable amount thus this has made the exchange very liquid. Phemex only trades few altcoin but that's nothing to worry about as they are already working on that ,every week new coins and token are added to it trading list and so I optimistic that the exchange will improve in that aspect.
On phemex exchange two factor authentication is taken serious to ensure and provide optimum security,but I'm still with a positive view that phemex's security would be much better if the KYC (know your customer policy) is considered an utmost requirement for all traders.
My review won't be complete if I fail to talk of phemex's trading fee. The takers pay a fee of 0.075% and makers get to make back 0.025% of their total transaction, these fee are far below the industry's average making it competitive and attraction to all investors and traders.
Phemex is still nascent in the industry but sincerely speaking I'm yet to find any cons in its features thou other traders might,but based on my verdict and experience on the exchange it has excellent features and performance which i recommend every trader to try out.
Pros
- high liquidity and trading volume
- The exchange is a secured and conducive platform to buy and sell Cryptos
- The fees are very low and affordable in fact it is far below the industry's average
- You get paid whenever you are in the position of a maker
Cons
- I haven't seen any thing bad about the exchange, and if there is any that would have been its low number of altcoin which is already increasing weekly
