Review on Phemex by jesus ruiz
Phemex, a good platform for making exchanges
Phemex is a Singapore-based exchange that launched on November 25, 2019. It focuses on derivatives and spot trading of cryptocurrencies and accepts eight different languages.
As of March 30, 2020, you can also trade gold and dollars on Phemex. This could be a useful pairs trade to have access to, especially in times of high volatility. You can trade Gold/USD with up to 100x leverage.
Phemex offers different bonuses to attract customers. It has a welcome bonus, $2 for signing up to the platform, it also offers you a $10 bonus for following the platform on Facebook and sharing the link with 3 friends. In addition, it offers up to $60 for any deposit of 0.2 BTC or its equivalent in another cryptocurrency. Phemex also offers you a $10 spot trading bonus for a single order of 500 USDT and a $10 contract trading bonus for a single BTC/USD transaction of 5000 USD. In total, you can receive up to $80 in bonuses.
At Phemex, using Leverage. you borrow from the exchange to bet more, so you can get up to 100 times the amount in cryptocurrencies you have on the platform. For example, let's say you have 100 USD in your trading account and you bet this amount that BTC goes long (i.e. goes up in value). If BTC increases in value by 10%, you would have earned 10 USD. If you had used a leverage of 100x, your initial position of 100 USD becomes a position of 10,000 USD, so you earn an extra 1,000 USD instead.
When making a BTC withdrawal from the Phemex trading platform, you pay the standard minimum network transaction of 0.0005 BTC. Actually, Phemex does not charge its own fees for withdrawals.
ο»Ώ
ο»Ώ
Pros
- Low commissions and in case of being registered as a Premium client, it has zero commissions for operations.
- Leverage plan that offers you up to 100X.
- Good Bonus plans to stimulate investment.
- You can invest in Dollars and Gold
Cons
- None for now
