The StoryBack in 2017, as experienced professional Wall Street traders and investors, Jack Tao and other founding members of Phemex.com identified a lack of professionalism, trustworthiness, and customer support within the crypto industry. In the following two years, the number of users engaging in cryptocurrency trading increased significantly. Nevertheless, existing exchanges showed little to no improvement.
Realizing the seriousness of the problem, the team left Wall Street and founded Phemex in the summer of 2019. They then dedicated themselves to building a simple, efficient, but most importantly, a trusted cryptocurrency trading platform. Then, on November 25th, 2019, the Phemex platform officially went live.
Phemex.com Exchange Basic Points
|Withdraw Fees||0.0005 BTC|
|Deposit Fees||Free. Small deposit fees apply.|
|Easy To Use||Yes|
|Customer Support||Available At Ticket & Live Chat|
How To Start ?
How To Sign Up At Phemex.comExchange?
It Is Very Easy To Sign Up At Phemex Exchange . Just Click On Sign Up Button At Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.
How To Deposit Fund At Phemex Exchange ?
Once your account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit and then you will be provided with the Wallet details that you need to transfer the funds to .
How To Trade At Exchange ?
Once your account is funded, you can then begin day trading at Valr. Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade.
How To Withdraw At Phemex Exchange ?
Withdrawing your funds from Swipe is very easy. Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses.
Phemex Trading fees
As they mentioned above, in terms of Spot Trading, Phemex has adopted a zero trading fee model. Instead they just charge for monthly Premium Memberships (prices are $9.99 for 30 Days, $19.99 for 90 Days and $69.99 USDT for 365 Days). Becoming a premium member will also allow you to set conditional spot orders, you will enjoy hourly withdrawals with no limits, and will be able to gift trial premium memberships to friends.
With respect to contract trading, Phemex Exchange separates between “takers” and “makers”. Let’s describe these terms real quick. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. They call makers for “makers” as their orders make the liquidity in a market. Takers are the ones who “take” this liquidity by matching makers’ orders with their own.
At Phemex, takers are charged 0.075% per order. This is a fair fee. Sure, there are exchanges offering even lower taker fees for contract trading, but there are also many exchange charging much higher fees.
When it comes to the makers, their fee is -0.025%. This essentially means that each maker gets paid to trade. To clarify, let’s say that you are the maker in an order where you purchase a derivatives contract for USD 1,000. This means that instead of paying USD 1,000, you will only have to pay USD 997.50. This is very competitive indeed.
Phemex Withdrawal fees
To our understanding, Phemex.com does not charge any fees of their own when you withdraw crypto from your account at the platform. Accordingly, the only fee you have to think about when withdrawing are the network fees. The network fees are fees paid to the miners of the relevant crypto/blockchain, and not fees paid to the exchange itself. Network fees vary from day to day depending on the network pressure. There is however a minimum fee of 0.0005 BTC when you withdraw BTC from the platform.
Phemex Exchange previously didn’t accept any other deposit method than cryptos, so new investors were restricted from trading here. Starting 18 June 2020, however, they partnered with a company called Banxa which is a payment gateway that accepts credit and debit card purchases of crypto.
Since then, Phemex has also partnered with Koinal, Coinify, MoonPay, and Mercuryo. You have a variety of payment options (ranging from bank transfers to Apple Pay) and rates to fit your needs.
This platform is not only available for desktop, but also Android and Apple mobile phones. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you, seeing as it has a native mobile application
Why Choose Us?
300,000 transactions per second, with order response times of less than 1 millisecond.
FIX API for institutional traders and Sub-Accounts for quantitative traders.
Strongest Wallet Security
Cold wallet storage. Transfers require 2-level human scrutiny offline signatures.
Access and Support
Phemex Exchange 24 x 7 live multilingual support and CEO is available on Telegram and Twitter.