By Deya Hroob
|
Table of Contents
1. What
is Phemex? 2. Trade
Crypto with Zero Fees 3. Phemex
Bonuses 4. Earn
Crypto ( New Product ) 5. How
to Buy Crypto with Credit Card at Phemex 6. Phemex
Crypto Simulation Trading 7. Is
Phemex Safe? 8. Things
to Be Improved By Phemex 9. Conclusion |
What is Phemex?
It's
a cryptocurrency derivatives trading platform , in Singapore. launched by eight former core developers from
financial services company Morgan Stanley.
Phemex
Provides both Spot and Contract trading services with BTC and USD settling
Phemex
perpetual contracts can be traded with up to 100x leverage. They also offer a
non-crypto GOLDUSD trading pair contract. With low fees, fast order execution,
and advanced platform features .
Phemex has its own app for Android and iOS. The main competitor
BitMEX does not have this.
At
Phemex, the Bitcoin perpetual contract is normally referred to as BTC/USD. Each
BTC/USD perpetual contracts is worth $1. So when you buy $1,000 worth of
BTC/USD contracts, it is as if you are buying $1,000 worth of BTC.
Trade Crypto with Zero Fees (Premium Membership )
With this membership
you trade crypto with zero fees.
There are Free ways to get this membership and there are Paid Memberships.
Every single new user receives a Premium Trial
membership for 7 days.
And you can also have
a 30-day Full Premium Membership by doing simple social media tasks.
Phemex offers you a paid premium membership. Plans start at $9.99 for 30 days, $19.99 for 90
days, and $69.99 for 365 days. By becoming a premium member you also get access
to conditional spot orders, hourly withdrawals with no limits, and the ability
to gift premium trials to friends. The standard fee is 0.10% when you don’t
have the membership.
Phemex Bonuses
Phemex has multiple bonuses to attract new
customers.
Phemex has a special promotion for new and
existing users. Based on your deposit you can receive an extra bonus of up to $
60:
·
Deposit 0.2 BTC and receive 60 USD. OR
·
Deposit 10 ETH and receive 60 USD. OR
·
Deposit 500 LINK and receive 60 USD. OR
·
Deposit 2000 USDT and receive 60 USD.
You can also receive a bonus in
trading too.
·
Receive $10 for a spot order greater than 500 USD
·
Receive $10 for a BTC/USD contract transaction trade of USD
5,000 or more
Earn Crypto ( New Product )
At Phemex you can earn up to 10% APY on your
investments through two different investments options :
1. Flexible
Saving Option …… Estimated APY 7%
This product allows users to earn interest on
their cryptos without any long-term commitments. Thus, you have the ability to
deposit and withdraw at any time while still experiencing a good rate of return
while the funds are held.
All what you have to do is transfer your funds
from spot wallet to your Flexible
Savings account and you will immediately receive the corresponding interest calculated
per day. Your initial funds and the interest can be withdrawn at any time J
2. Fixed
Saving Option ………. Estimated APY 10%
Phemex's Fixed Saving
product allows users to earn higher levels of interest on cryptos invested for
a specified period of time. Users must subscribe to this option for a fixed
period of time before any earnings can be redeemed. The rate of return is
higher and more stable than Flexible Saving.
You can subscribe to the
Fixed Saving option with funds available in your spot wallet. Once the
subscription process has been completed, funds will be locked for the selected
fixed period of time.
Buy Crypto with Credit Card Instantly at Phemex
How to buy crypto with credit card at Phemex
Phemex work with well-trusted fiat-to-crypto gateway solution partners, such
as Banxa, Simplex, Moonpay, Coinify and Mercuryo
Step 1: Select the crypto you would like to purchase
Enter the amount or quantity and choose a payment method.
Step 2: Choose the best offer
Select an offer and complete the payment.
Step 3: Wait for your crypto to arrive
Your crypto will arrive in your account after the payment
has been successfully completed.
Practice Your Skills with Phemex testnet: Crypto Simulation Trading
Phemex provides a simulated account
Crypto Simulation Trading is a tool
that allows investors to practice their trading skills without investing real
money. So, you can Learn How to Trade with Zero Risks
- For
beginning investors, Crypto Simulation Trading is a great way to develop
investing skills.
- Experienced
investors use simulators to evaluate trading strategies before trying them
in the real world.
Is Phemex safe?
The answer is that they
take their security very seriously . All assets are 100% stored on cold wallets.
Each withdrawal is monitored thoroughly by the team and needs to be approved by
2 human offline signatures. Based on the advanced experience of the founders in
Wall Street risk management, they are able to quickly detect any malicious
actions and take rapid action to protect their users’ assets and the platform.
Things to Be Improved by Phemex
Phemex has to offer more
Crypto trading pairs. They should also offer more non-crypto trading pair
contracts like traditional assets and commodities . Now they only offer GOLDUSD pair
Referral Structure
should also be improved:
There are two Referral
Structures at Phemex:
First :
Invite Friends To Earn A Taker Fee
Discount and Bonus
The Rules: If you Invite a
friend to register and trade. You will get a 10% Taker Fee discount for one
month. After an invitee gets their welcome bonus, you will receive 50% of their
bonus amount.
I think for this to be
better
Phemex should offer a Permanently commissions on all trading fees collected in
your network.
Second:
Become a Phemex All-Star
In this type you Permanently
earn up to 50% commissions on all trading fees collected in your network. However,
you need to be accepted in order to participate in this program., but it isn't
an easy process.
Conclusion:
Phemex is without a
doubt one of the best bitcoin derivatives exchange on the market right now with high liquidity which very important in the market. The platform has never been hacked.
