Review on Phemex by José A Rodríguez
Phemex: Not Recognized as an Exchange but a Source of Digital Development
It is excellent when a company is up to date and has all its rights reserved. It speaks really good of them to be always updating every single but necessary aspect of their project because it shows a little bit more of reliability and comfort. Such is the case of Phemex, a cryptocurrency exchange that is well-known for providing zero fees in certain of is transactions. The truth is that it attaches fees, but the amount is too short that users consider those commissions something not valuable.
For trading in this platform, users must register by providing their email. The process is fast and very easy. There is one issue because it does not need a KYC feature, but it affects the privacy of the network, and some customers consider it necessary. Anyway, the platform still operates with good safety for their clients. Now, for financial purposes, the trading platform holds just some additions of tokens, but it has not a representative public dashboard were to assess them and decide how to apply among orders.
In the way I see this exchange, it reminds more of those networks that are mainly centred on providing stable protocols for traders and investors, and even some developers who can improve them. This is said because the company shoes more attention to the high performance the network offers, but it is just connected to financial matters. It has some advanced functionalities that do not predominate in the support for basic traders.
Finally, there is little content of value in this type of exchange. I do not think it is a bad release, but I either consider it as the most appropriate source of trading. It is okay if users decide just to explore the platform, and analyze the features and tools it holds. It will be better in the end because it's a way of learning about the protocol's development. So, despite everything, it does not matter so much that this company has its digital rights reserved.
Pros
- It is well-known because it has low fees and sometimes it provides zero commissions, but it depends on the range of expertise the trader has.
- It works with quick steps. It has some configured accesses that permit users to switch between windows rapidly.
- It works with good customer support, and it operates without failures.
Cons
- It has not KYC feature available. Sometimes, it is difficult to track if this service provides really good security and privacy for their users and the investors they work with.
- It is little used as an exchange, and there are low references for this network.
- It works just with crypto, but deposits and payment options are limited. It has not available features to accept fiat.
