All about Phemex Crypto Exchange
The Phemex Cryptocurrency Exchange is one of the leading platforms for open-ended futures transactions. Purchasing and selling such assets opens up a wide range of opportunities for traders. Based on the contract method, they can buy a volume of cryptocurrency hundreds of times their own funds. The Femex exchange has developed this trading tool extensively.
History
The launch of the platform took place on 25 November 2019. The idea of developing a unique trading platform came to Jack Tao back in 2017. For a long time, the specialist worked for the financial company Morgan Stanley. Here he formed a team of like-minded people, who set about creating a cryptocurrency exchange called Phemex. According to the developers’ plan, it should be a simple but functional service built on the idea of decentralization and a high level of user asset protection.
To avoid the possibility of blocking the platform, its creators registered in Singapore the management company Phemex Financial Pte Ltd. The official website of cryptocurrency exchange Phemex does not contain information about the license, so it is worth assuming that it is missing. The helpdesk responds vaguely about approvals to provide market trading tools, refusing to send copies of relevant documents.
Services
Cryptocurrency exchange Phemex provides two options for earning money. The first is perpetual futures and the second is instant pay transactions. The site also offers the following options:
- lending;
- buying digital assets for fiat;
- Individual or group competitions for market players.
Special attention should be paid to the trading education feature. For this purpose, the platform has introduced a demo account tool, with the help of which beginners can learn the rules of exchange operations. The company has not only made its own training video, but also encourages people to watch it, providing small bonuses in return.
The Phemex cryptocurrency exchange’s referral programme helps generate revenue by attracting new clients. For a referred client, the platform gives a 10% discount on commission payments. Moreover, the service gives half of the welcome referral bonus (but only for the first three clients). The platform is open for cooperation, and big bloggers and publishers can become part of a multi-level affiliate program.
Features
Cryptocurrency exchange Phemex offers 29 digital coins for spot trading, and 23 for futures trading. The main trading is organised with perpetual contracts. The average daily transaction volume is $560 million. This is not much, so in many ratings, the site is not even in the top 100. However, in terms of perpetual deals value, the exchange is firmly in the top 10, as the average daily volume of transactions exceeds $4 billion. The Femex platform is known to a narrow circle of users whose trading activity is based on derivatives. The service provides complete anonymity as no account verification is required. Other advantages include quick registration, user-friendly interface and favourable conditions for exchanging assets. The project is ideal for beginners. There is quality trading training, a demo account option, welcome bonuses and competitions for market players.