Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted one AMA with MXC Exchange, on 26th March at 10.00 AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Molly, MXC Global Community Manager at MXC. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Question Asked By BlockTalks
Q1. Can you introduce yourself to the community? What’s your position on MXC EXCHANGE?
Ans — Hello everyone, I am Molly, MXC global community manager
MXC is established by a group of digital asset enthusiasts, located in Singapore. MXC exchange is a world-famous exchange platform. We aim at providing Secure, Convenient, Smart blockchain asset trading service, covering the market and price of cryptocurrencies including BTC, LTC, ETH, ETC etc. Now MXC mainly supports Spot Trading, Fiat trading, Leveraged ETF, Margin Trading, PoS Pool, and Space M, unique event M-Day, etc. MXC has supported 7 different language versions, including, Chinese, English, Vietnamese, Indonesian, Russian, Japanese, Korean, for your choice and MXC is one of the top 10 Crypto Exchanges in CMC. MXC has more than 3 million registered users.
MXC Global community: https://t.me/MXCEnglish
MXC community Twitter: https://twitter.com/MXC_Fans
Welcome to follow to get the latest news.😊
Q2. Can you describe 2–3 unique advantages of MXC Exchange?
Ans — MXC exchange is a world-famous exchange platform. We are a safe and secure platform and MXCaims to provide many good products to help users to make more profits.
Q3. How MXC ensure the top security of user’s funds? What’s in your security layer?
Ans — MXC Exchange lays the utmost importance on the protection of the user’s asset security. It builds a comprehensive security protection system by the integration of top-notch security technology, experts in the cybersecurity field and an elaborately designed security protection mechanism. In terms of technology, MXC Exchange developed hot and cold wallets in asset storage, as well as a three-party signature mechanism for asset protection, making assets in MXC Exchange is as safe as in the bank’s vault. It holds tight in user ID verification and emphasizes the protection of user’s privacy in case of asset loss from personal information leakage.
Alongside that, MXC Exchange was established by a group of experts from such world-class companies.
We have a first-class security technological team. In addition, it has secured coordination with state-of-the-art security corporates such as Chengdu- and Beijing-based Beosion, Zhidao Chuangyu Information Technology Co., Ltd. on trading security, threat information report, asset protection, risk control, security consultation, digital-asset tracking, anti-money laundering, etc. Besides, the security team of MXC Exchange is able to monitor any abnormal trading in 7*24. It has created a defensive system that traps can be set on the route where hackers may pass by.
Once the trap is triggered, MXC is able to find it immediately. MXC Exchange also performs drills on simulating DDoS attacks from hackers every week with its partners for the purpose of finding out defensive ways and better protection of the assets on MXC Exchange. Meanwhile, it isolates the key servers of the internal network and establishes an authority control mechanism in case of information leakage from too high authority of some personnel. It also rolls out an audit and monitoring mechanism for all levels of business.
From the user side:
Users should pay attention to protect the self’s account and password. For example, users use the same password on all platforms, and the result is that they are hit by the library, or the insecure factors of their own computers and mobile phones, may cause their important information to be leaked.
MXC will take responsibility for any problems caused by the MXC platform, users should pay attention as well, we should protect assets secure together!
Question Asked on Twitter For MXC!
Q1. The biggest barrier for newcomers in the crypto space today is buying and withdraw with FIAT, how robust is your FIAT GATEWAY? In which countries do you have a FIAT plan with currencies?
Ans — MXC exchange supports CNY, VND Fiat trading. Users can also buy BTC, ETH, BCH, LTC, XRP, TRX with VISA cards in USD, EUR, AUD, GBP.
Q2. MXC has ETF trading features and it doesn’t seem to exist in another market. Is that a superior feature of MXC? Can you explain to us what is ETF trading and how does it work?
Give us the reason why we must trading on MXC.
Ans — Good question. Yeah, I totally agree with you. I would like to share data with you about MXC Leveraged ETF. Here
This is an analysis from CryptoRank, we can see, MXC Leveraged ETF covers more than 90% market!
The ETF introduction:
Leveraged ETF is a financial derivative in the traditional financial market. Leverage ETF is a perpetual product without margin needed, as long as its price does not completely approach zero, so there are no liquidation risks. It’s like spot trading and allows traders to get 3x profits when it’s up, 3x loss when it’s down.
For example: I want to buy BTC 3L now (BTC 3L means: BTC 3x Long)
Then I just open the web/app, get the BTC3L/USDT trading pair, enter the price and amount I want to buy, and your order is made. When the market price matches your buy price, your order will be filled.
Q3. Explain more about Staking on MXC_EXCHANGE and Deposit for Listing program.
Ans — MXC Staking is a program of MXC PoS Pool, including PoS Staking, PoS Saving, and Loan.
MXC PoS supports many tokens now, you can check more here: https://www.mxc.io/pos/list
Q4. MX token is a native token of MXC exchange so if I hold that token what are the benefits I’ll get it. Could you explain a bit more about ETF, SpaceM?
Ans — MX is the right proof of the MXC community, with 678,825,498.26 total supply after-burn.
You have have the following benefits when holding MX token:
1.Trading fee discount.
2.The right to vote for MXC community decision
3.To join Space M, M-day events
At the present time, there are many great plans under construction.
Space M is a program for some projects listing, users who reach requirements can enjoy buying tokens with discounts, different projects may have different rules and requirements.
Q5.Can you share with us some of the future plans, such as the marketing development plan and recent activity plan for the MXC?
Ans — Our plan always focuses on: Providing more products, services, safety to users, and bringing MXC to all over the world. We always listen to the community about MXC’s decisions, operations.
Question Asked by our BlockTalks Community Members during live Session to MXC.
Q1. As i heard space M and leveraged ETF are different products.So I want to ask what benefits does spaceM achieved over ETF products ?Are there any restriction for different countries to use SpaceM?
Ans — Space M is a program, leveraged ETF is a product. They are totally different from many reasons, the amount you can buy, the selling time… etc. many many reasons. You will find the remind in Space M page when you open it.
Q2. Recently , Copy trade is a new trend of all exchange but MXC still not have yet . Do you think will add it in future ? Also support very important in exchange , Can you tell me about your customer service ?
Ans — I am not sure if we will have that, we will announce once there are any news about that, plz stay tuned. @MXCEnglish Our customer service is 34/7 online, you can get contact on MXC web/app.
Google Play: https://bit.ly/3883Pu3
iOS TestFlight at https://bit.ly/2zmUOhP
Q3. Trust is the first condition for users to start their journey on a new exchange. So how does MXC attract new users and gain their trust and promote itself in the market as well as the blockchain community?
Ans — As I shared about our security system in previous questions, you may also join our community to check more @MXCEnglish :)
Q4. In MXC exchange : Is KYC is required for trading , deposits, and withdrawal of funds ?
: If KYC is required then what is benefits of KYC in MXC
Ans — KYC is not mandatory in trading and deposit at MXC. Normally users can withdraw no more than 5 BTC every 24h without KYC.
But some abnormal risky operations may trigger our risk control system. For this situation, your withdrawal application will be pending and a KYC will be required as a supplement to ensure your account and assets security.
Otherwise, KYC is required when you engage with some operations such as community activity rewards, OTC(Fiat) trading and participate IEOs.
Q5. What are the benefits and disadvantages of using the PUSH function?
Ans — PUSH allows you to trade some hot projects that will be listed on MXC, you can have a research about the project before deciding trade or not trade. the 2nd question is not decided by MXC, it’s by some countries’ law.