What is Phemex Exchange? Everything You Need To Know [2024]


Introduction:

In the growing cryptocurrency industry, where new platforms appear and disappear in the blink of an eye, finding a reliable and secure exchange can be a daunting task. If you’re on the hunt for the next big thing, Phemex Exchange might just be the oasis you’re looking for. Join us on a journey to uncover everything you need to know about Phemex, a platform that goes beyond the ordinary, offering traders a haven for crypto activities.


What is Phemex?

Phemex, founded by Jack Tao, a former Morgan Stanley executive, aims to infuse professionalism and trust into the crypto ecosystem. Operating from Singapore, Phemex is a centralized exchange catering to over 200 countries, known for its user-friendly interface, liquidity, and diverse ecosystem features.


Phemex Key Features

In a competitive market, Phemex stands out with unique features:

  1. Token Variety: Phemex supports a wide range of crypto tokens, facilitating easy trading with both fiat and credit card deposits.
  2. “Phemexia” Web3 Ecosystem: Pioneering the “Semi-Centralized” exchange concept, Phemex introduces a web3 world with DAO governance, identity NFT, and a crypto wallet, bridging DeFi and CeFi.
  3. Innovative Platform: Beyond trading, users can copy strategies, use trading bots, engage in peer-to-peer asset swaps, participate in prediction markets, and join high-APY staking pools.
  4. Contests & Prizes: As Phemex prepares to launch its token, it offers significant giveaways of ETH and rewards users with xPT tokens for referrals.

Phemex Token

Phemex token is lunched on Dec 05 2023, on coinmarketcap. at the time of writing the PT token is trading at $0.6571.

Phemex Token is an on-chain, transferable ERC-20 platform utility token for the Phemex exchange. It can be staked to obtain vePT, which grants decentralized governance power, staking rewards, trading rewards, fee discounts, and other benefits.


Phemex Fees Structure:

Phemex employs a straightforward fee structure:

  • Spot Markets: 0.1% maker & taker fees.
  • Contract Markets: 0.01% maker & 0.06% taker fees.
  • Withdrawal Fees: Varied for each coin.

Fee discounts are available through the Phemex VIP program based on trading volume.

Phemex VIP Program

Spot Markets VIP Program:

VIP LevelLast 30-Day Volume (USD)Maker Fee RateTaker Fee Rate
Standard0 – 10,0000.1000%0.1000%
VIP 110,000 – 500,0000.0900%0.1000%
STAR VIP10M+0.0000%0.0400%

Contract Markets VIP Program:

VIP LevelLast 30-Day Volume (USD)Maker Fee RateTaker Fee Rate
Standard0 – 5M0.01%0.06%
VIP 15M – 10M0.01%0.055%
Star VIP300M+0%0.03%

Platform Applications:

To Buy Crypto

Buying crypto on Phemex is user-friendly, supporting over 80 fiat currencies for deposits. KYC verification is required.

phemix-exchange-fiat-currencies
Source: Phemex Exchange

Spot Trading

Phemex’s spot markets enable trading 223 token pairs with low fees of 0.1% for both makers and takers.

Phemex-Spot-Trading
Source: Phemex Exchange

Contract Trading

Engage in perpetual futures markets with up to 100x leverage, offering flexibility in collateral options.

Phemex exchange contract trading
Source: Phemex Exchange

Earn

Put your crypto to work with APYs ranging from 0.35% to 4% through flexible or fixed lockup periods.

Phemex-exchane-earn
Source: Phemex Exchange

Copy Trading

Phemex allows users to mimic top traders automatically, enhancing accessibility for traders.

PHEMEX-EXCHANGE-COPY-TRADE
Source: Phemex Exchange

Phemexia Web3 Ecosystem

Phemex is evolving with its unique Phemexia ecosystem, introducing tokens and NFTs:

  1. Phemex Token (PT): A utility token offering benefits such as staking yields, trading rewards, and governance in the Phemex DAO.
  2. Phemex Soul Pass: A non-transferrable NFT serving as the user’s identity and gateway to Phemexia.

Customer Service

Phemex offers customer service through a chat widget on their website and via email at support@phemex.zendesk.com.


Video Credits: MoneyZG

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