Connect with us

Published

on

 

Phemex is a cryptocurrency platform that allows individuals all around the world to access digital currencies through a user-friendly, safe and efficient crypto trading exchange. Led by over 8 former Morgan Stanley Executives, Phemex aims to become the best cryptocurrency derivatives trading platform.

Welcome to Xycinews Media, this article about Phemex Review was written after my research and coming to know users are searching for keywords like;

  • Phemex Review
  • How To Deposit Funds Into Phemex
  • Is Phemex Scam
  • Is Phemex Legit
  • How does Phemex Work
  • Who is Phemex Trading founder
  • Phemex Withdrawal
  • Phemex Background
  • Phemex Referral System
  • Phemex Registration & Login

And so on…. Nonetheless, I might not have the exact response to all the above entries at the moment, but this article is well detailed.

 

JUST READ TO THE END PATIENTLY..!!

 

If you want more information and get to know Phemex better, I encourage you to kindly take a few minutes to read this article calmly because I have gathered the best of information in well outlined paragraphs to help you understand and the table of contents to help you navigate the post.

 

NOTICE: In as much as Team Xycinews aims to deliver a near perfect review, we have a lot of Platforms on our Log to review & a lot already reviewed. Sadly this limits us from backdating to track the status of already reviewed platforms.

Kindly note that the platform information were correct as of time of publishing but might turn out to be SCAM without our notice.

Always check our article’s published date & the comment section below for users opinion. Thanks ♥️

 

Phemex Trading Review

Phemex Trading is a cryptocurrency derivatives trading exchange that is available to users worldwide to trade perpetual contracts such as BTCUSD, ETHUSD, XRPUSD, LTCUSD, XTZUSD and LINKUSD with up to 100x leverage.  The exchange is well known for it’s zero-fee crypto trading on spot pairs.

The derivatives platform is surging in popularity and is currently ranked #6 for daily trading volume on the exchange according to Coinmarketcap.com.

 

Phemex Features

Phemex users of the platform have access to several innovative trading features and financial tools to increase potential profits trading cryptocurrencies. The exchange includes features such as:

  • Beginner-friendly user interface
  • No KYC to start trading
  • Spot trading market with zero trading fees 
  • Derivatives exchange with leverage up to 100x and BTC or USD settlement
  • Cryptocurrency demo account to trade cryptocurrency with zero risk
  • Mobile app to trade anytime and anywhere
  • Generous affiliate program that rewards you for bringing users
  • 24/7 customer support team

 

How To Deposit Funds Into Phemex Trading

Next on Phemex trading review is that the exchange allows you to transfer cryptocurrency from a crypto hardware wallet directly to the digital asset trading platform to begin trading. Bitcoin and USDT deposits are secured within the Phemex wallet.

  • Visit Phemex.com and login to your account
  • Navigate to the ‘Assets’ link in the top right corner
  • Click on ‘Deposit’ and select the crypto or stablecoin to deposit 
  • next to the asset and copy the unique wallet address for the selected coin
  • Copy and paste the address or scan the QR code with your personal BTC wallet to begin the transaction. Simply select the desired amount and send to your Phemex wallet.

 

How to Utilize Phemex Zero Trading Opportunity

The exchange also provides a trading contract for GOLD/USD and with more assets such as S&P 500 stocks, stock indexes, interest rates, FOREX, commodities, energy and metals that will be released on the platform shortly according to the Phemex website.

  • Login to your Phemex.com account
  • Navigate to the top menu and hover over ‘Products’ 
  • Use the drop down menu to select ‘Spot Trading’ 
  • Choose the crypto asset (e.g. Bitcoin, Ethereum)  
  • Enter the amount to buy or sell back to USDT
  • Review the order to ensure the details are correct
  • Click on the green ‘Buy’ or red ‘Sell’ button to place the trade

 

Phemex Demo Account

Phemex offers a testnet to allow users to practice crypto trading using a demo account without making a deposit. The simulated trading environment provides the same features and functionality as the main exchange. The Phemex testnet account can be accessed under ‘Products’ along the top menu.

 

Phemex Background

Phemex is an exchange from Singapore that launched on 25 November 2019. It focuses on crypto spot trading and derivatives and supports eight different languages: English, Russian, Spanish, Japanese, French, Chinese, German and Korean.

 

Phemex Withdrawal

Withdrawal from a Phemex wallet does incur the standard blockchain fee that varies on the crypto asset and the network load. 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.

 

Phemex Pricing

Phemex Premium account is a paid subscription that allows traders to buy and sell cryptocurrencies on the spot exchange with zero fees. The Phemex Premium membership price starts from:

  • $9.99 USD for a 30-day period 
  • $19.99 USD for a 90-day period
  • $69.99 USD for a 1-year period

Users that trade large volumes or make frequent trades using a spot crypto exchange will benefit from paying no trading fees on their transactions which can eat into your profits. A membership that starts from 0.19 USD per day is a fair price and can make a large difference to the overall profit and loss at the end of the year.

 

Phemex Registration

To create an account with Phemex, the registration process is very straight forward and only takes a few minutes. To get started, follow these simple steps:

  • Visit the website https://www.phemex.com
  • Click on the ‘Register’ button at the top right-hand corner
  • Enter in your email and set a strong password
  • Verify your email address using the verification code
  • Login to Phemex using your new credentials

 

Phemex Login

Before you have access to Phemex login page, it’s obvious you must registered successfully.

To login Phemex only the below is needed 

  • User name  
  • Password

 

Is Phemex Safe and Credible

Phemex offers a number of interesting services. The company began as a cryptocurrency derivatives exchange offering products such as Bitcoin perpetual contracts.

Phemex allows a maximum leverage of 100x on these products. This means that you can hold a position worth 100x more than your original investment. 

However, a very small change in price in the opposite direction can cause you to get liquidated and lose all your funds. This type of leverage is already offered by BitMEX and ByBit. Leveraged products are incredibly risky and must be used with careful consideration.

To help you manage this risk, Phemex offers tools such as take profit and stop loss conditional orders. With these orders you can define and improve your trading strategies while maximizing opportunities for profit.

 

Is Phemex Legit 

Phemex is a legit company that is registered in BVI and headquartered in Singapore with employees and users located all over the globe. The cryptocurrency derivatives platform was founded by 8 former Morgan Stanley Executives with 40+ years of combined experience in delivering HFT (high-frequency technology) with great stability.

The team’s goal is to bring billions of potential users into a digital currency system by enabling access to a user-friendly, safe and efficient trading platform.

 

Is Phemex Scam

Primarily, Xycinews Media contents is to give an overview of platforms and what they entails to help you decide if proceeding with them or Investing only what you can afford to lose.

  • Do you think Phemex is scam?
  • How you being defrauded?

With a lot of platforms on our desk to review for the general public, we might not be able to keep track of Phemex on a regular. Please help us by dropping a comment and this will help other potential investors from falling prey or proceeding to invest.

 

In Summary – Is Phemex Legit or Scam

Anyways, team Xycinews can’t pronounce Phemex scam or legit but we will give you all the important information at our disposal to help you decide best because it involves you and your funds and we ain’t ah third party.

Don’t conclude from what you’ve read alone, make research additionally to make your firm. Always look out for the following before considering any online platform, expecially when your funds is involved.

  • Check if the site has a “contact us” web page
  • Avoid online Platforms that promises huge ROI.
  • Check if the site shows info about its company (name, address, country).
  • Check if the site has an “about us” or “company” web page.
  • Check if the site has a valid VAT or Partita IVA number (EU only).
  • Check if the platform is registered and certified to increase trust value.
  • Don’t be tricked by offers looking too good to be real, if it looks too good to be true, it could be a bait.
  • Check if the site has an active social presence (Telegram,Facebook, Twitter, Instagram)

 

Disclaimer

This Phemex Trading Review Article isn’t aimed at defaming Phemex nor is it targeted to promoting them. 

This article is strictly for enlightening purposes and a honest guide from our perspective because we strongly believe every brand needs a good background check.

Therefore, you are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this Phemex review.

Team Xycinews is no third party and we can’t handle any queries whatsoever. 

 

@The Blogger Scientist

 

SHARING IS LOVING 💕

 

 

 

 

 

 

 

 

 

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Review

Tesla May Allow Bitcoin Payments, Elon Musk Tweeted

Published

on

Tesla cloud let Bitcoin payments back into it’s transactions, this is what Muck said in his new tweet! It seems he won’t stop tweeting about Bitcoin. After he got some threats by hackers after all! Tesla CEO Elon Musk, tweeted that the e-car company will restart Bitcoin payments when the cryptocurrency’s clean energy utilization gets to the 50 percent threshold.

When we have the confirmation of sensible (~50%) clean energy utilization by miners with affirmative future trend. Tesla will restart letting Bitcoin transactions.

Moreover, Musk declined pumping and dumping Bitcoin. He talked about the allegations that Sygnia CEO Magda Wierzycka made as “inaccurate.”

Tesla’s Bitcoin Holdings

Musk once again confirmed that Tesla only sold 10 percent of its holdings. They did that in order to test the cryptocurrency’s liquidity without moving its price. As you can see, they moved the price of cryptocurrency’s price a lot! Especially Bitcoin.

As you know, Tesla stopped Bitcoin payments because of the harmful environmental impact of mining. They announced it on May 12. As a result this triggering a sharp market correction.

As stated by Ark Investments, over 70 percent of Bitcoin miners are powered by renewable energy by now.

liquidity

In its most simple form, liquidity is about how simple it is to convert cryptocurrency into cash fast. And also as if this can be obtained without the asset’s value affliction. A cryptocurrency that is liquid usually trades around its market price.

Bitcoin Price

This news maybe cloud help Bitcoin’s price in the market. And in addition it could help the whole market. At time of this writing, Bitcoin’s price is 39,209.20$. So, it seems the market is promising after days of low trades in the market. With bitcoin and other cryptocurrencies. Musk’s actions on social media about cryptocurrencies usually make prices soaring or plummeting.

Bitcoin future is promising. After are it is the big boy in the whole crypto market. Once before, Musk made Bitcoin price goes up, when he announced that Tesla will accept this coin. Then he took it down, when he tweeted that they stopped accepting Bitcoin in their transactions. And, now they are opened to the option again.

Continue Reading

Review

Bitcoin analyze, Bitcoin Reached to the Resistance line 39,270$

Published

on

We observed a positive candle, with the reopening price of 35546. Which it reached 39,380$ at the highest price, and 34,757$. Bitcoin candle couldn’t reach the resistance line 39,270 in Jun 10. In the result of that, it went back down for more time. We expected that Bitcoin touches the floor of the most probable scenario 32,612.

Even we predicted that, This time the chance of breaking this supportive line increase slightly. Although this scenario, was our third scenario. But, despite of our expectations, Bitcoin toughed the resistance line 39,270$ for the third time, by today’s candle.

For now, Bitcoin had reactions, to some extent, relative to this resistance line. And it went back down. So, about our current scenarios, we are insisting in our the most probable scenario, which is the swing between 32,612$ and 39,270$.

The second scenario is; breaking the resistance line 39,270$, and forming new ascending process.

And the third scenario is; breaking the resistance line 32,612$, to hit a fall around 25,299$.

So, with what happened with today’s candle, we entered to the second scenario. This means ascending process is happening. In conclusion, it is better to have caution until to a resistance line above 39,270$.

But, for now, in the current short term, we consider the line of 32,612$ as the first support. And, the line of 39,270$ as the first resistance.

Binance Analyze

We expected this coin to increase to the resistance line of 423$. And after that, we expected short time correction to get to the supportive line 337$. And, most likely to get on track of increasing. This time with the goal of passing the resistance line of 423$ and reaching 560$ resistance. All of our expectations came true.

Moreover, we expect BNB coin starts a new increasing process. The primary purpose of this coin is; to revisit to the 423$ resistance line. And, after that we expect that, NBN pass this resistance line and touches 560$ the resistance line.

Continue Reading

Review

Bitcoin ‘Options Smile’ Displays Market Terrified of Even with Tesla News

Published

on

Bitcoin option’s smile appears persistent fears of huge fall and low expectations for a quick rally. Bitcoin had a positive performance in the past 24 hours. This was because of the comments by Tesla CEO Elon Musk. He said that the electric car maker would accept crypto transactions. They will accept it on the condition of reasonable clean energy use by miners.

In result of this comment, Bitcoin experienced a positive rally and the price increased. However, the move to 2.5-week highs above $39,000 failed to quiet market fears. That’s clear to see from a chart pattern known as the “options smile,” which presents relatively higher implied volatility or demand. They are for options at strikes under bitcoin’s current market price than the implied volatility for higher strikes options.

The especial manufacture talks about great fears and continued request for downside hedges. As tweeted by trader and analyst Alex Kruger. In simple words, investors continue to buy puts in anticipation of a more profound price decline.

Options smile, a U-shaped graph looks like a smiley emoticon. And that is created by planning implicit volatilities opposed to options at various hit prices expiring on the same date.

Implicit volatility is investors’ expectations of price turbulence over a specific period. A higher implicit volatility outcomes from bigger demand for options and the other way around.

Options of Sell and Buy

Options are hedging tools that give the buyers the right but not the commitment to buy or sell an underlying asset at an established price on or before a specific date. Thus, a call option represents the right to buy and put the right to sell.

The fast slope at lower strikes throws back fears of a sell-off and the flatter slope at the right end displays market contributors regard rallies, if any, to be slow.

Some may say that the steeper slope at lower strikes can steam from increased request for call options or bullish bets than for protective puts. But, put-call deviations, which calculate the cost of puts relative to calls, say something else.

Continue Reading

Trending

  • bitcoinBitcoin (BTC) $ 40,306.00
  • ethereumEthereum (ETH) $ 2,529.83
  • tetherTether (USDT) $ 1.01
  • binance-coinBinance Coin (BNB) $ 364.45
  • cardanoCardano (ADA) $ 1.56
  • dogecoinDogecoin (DOGE) $ 0.317172
  • xrpXRP (XRP) $ 0.868911
  • polkadotPolkadot (DOT) $ 24.07
  • usd-coinUSD Coin (USDC) $ 1.00
  • uniswapUniswap (UNI) $ 23.32
  • bitcoin-cashBitcoin Cash (BCH) $ 625.68
  • litecoinLitecoin (LTC) $ 173.88
  • solanaSolana (SOL) $ 39.49
  • chainlinkChainlink (LINK) $ 24.37
  • matic-networkPolygon (MATIC) $ 1.62
  • binance-usdBinance USD (BUSD) $ 1.00
  • theta-tokenTheta Network (THETA) $ 8.91
  • internet-computerInternet Computer (ICP) $ 58.75
  • stellarStellar (XLM) $ 0.335201
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 40,282.00
  • ethereum-classicEthereum Classic (ETC) $ 58.14
  • vechainVeChain (VET) $ 0.111896
  • filecoinFilecoin (FIL) $ 71.55
  • tronTRON (TRX) $ 0.072365
  • daiDai (DAI) $ 1.00
  • moneroMonero (XMR) $ 282.02
  • eosEOS (EOS) $ 5.19
  • shiba-inuShiba Inu (SHIB) $ 0.000009
  • amp-tokenAmp (AMP) $ 0.094908
  • cdaicDAI (CDAI) $ 0.021574
  • aaveAave (AAVE) $ 308.37
  • okbOKB (OKB) $ 14.49
  • neoNEO (NEO) $ 49.91
  • kusamaKusama (KSM) $ 378.60
  • algorandAlgorand (ALGO) $ 1.04
  • compound-usd-coincUSDC (CUSDC) $ 0.022127
  • bitcoin-svBitcoin SV (BSV) $ 168.19
  • iotaIOTA (MIOTA) $ 1.11
  • pancakeswap-tokenPancakeSwap (CAKE) $ 16.91
  • cosmosCosmos (ATOM) $ 12.85
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.120917
  • compound-ethercETH (CETH) $ 50.73
  • klay-tokenKlaytn (KLAY) $ 1.19
  • ftx-tokenFTX Token (FTT) $ 33.65
  • celsius-degree-tokenCelsius Network (CEL) $ 6.79
  • makerMaker (MKR) $ 3,130.18
  • tezosTezos (XTZ) $ 3.28
  • theta-fuelTheta Fuel (TFUEL) $ 0.514585
  • terra-lunaTerra (LUNA) $ 6.45
  • avalanche-2Avalanche (AVAX) $ 14.63
error: Content is protected !!