NOTE: Customers in United States are not allowed to register at this broker. We would recommend a different broker at our toplist here.
MDEX is short for the Mandela Exchange, a company that was created in 2021. It uses the Heco blockchain, which offers certain advantages over the Ethereum blockchain. While this platform is still new, it has already started dominating the DEX sector. At the moment, it has more than $5 billion in traded volume every 24 hours. Just two months into its existence, MDEX received a total pledge of more than $2 billion to its liquidity pool, and this boosted its growth significantly. If you are keen to try out a serious DEX, supporting BSC, Ethereum blockchain and Heco, then give Mdex a try today!
NOTE: Customers from United States are not allowed to register. Find another broker here.
A DEX that supports both BSC, ETH and Heco.
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Background & Overview
Mdex QR code to scan with phone
MDEX was formed to offer lower costs, higher efficiency, and a better user experience. You can trade on the site while paying 0% fees as it supports mining. The platform also offers high levels of security, and this has been a major issue in the DEX sector. It has passed Certik, SlowMist, and Fairyproof security audits, and it also has an ongoing bug bounty. Anyone who notices any security glitches will get paid when they report it to the DEX team. Another unique feature of DEX is the fact that users can bridge their assets cross-chain. For example, they can trade MDX tokens from the Heco chain to Binance smart chain. As a holder of DEX tokens, you will have to have the power to cast votes and make decisions for the management of the decentralized exchange. Are you ready to vote? Get started with MDEX today! Visit Mdex now!
Advantages at Mdex
+Its transaction fees are straightforward and very low.
+MDEX offers lots of crypto pairs.
+You can mine DEX for cheaper transactions.
+Investors with more than $100 million in MDEX don't have to pay any transaction fees when using this exchange.
+MDEX is audited by reputable organizations.
+It allows users to bridge assets cross chain.
Disadvantages
-You must already own cryptocurrencies in order to trade on this platform.
-MDEX does not have any licenses, and that means lots of countries are excluded from the platform.
-Being a relatively new decentralized exchange, it is yet to be tested properly by the public.
-Very slow transfers and no reply from customer support for 3 days, according to customers that complained to Crypto Lists.
KYC & Registration
In order to register as a trader on MDEX, you will need to connect your crypto wallet. Once that is done, you can buy and sell assets without even needing to complete the KYC procedure.
Company Account
Business accounts are not available at this moment in time.
Leverage
There is no leverage available on MDEX yet, but it might change in the near future. So watch this space.
Costs
▪ Rated at 10/10MDEX charges a 0.03% transaction fee for both makers and takers. This fee is used to enhance the project ecosystem, pay miners, and cover the repurchase and burn mechanisms. You should note that these fees are paid in MDEX tokens, which means miners can significantly lower the fees paid for the transactions. You should note that anyone who owns more than $100 million in MDEX tokens does not have to pay any transaction fees on this exchange.
The platform does not charge any withdrawal fees, but you will still have to pay network fees. These funds are not taken by MDEX but go to the miners of the relevant blockchains or cryptocurrencies.
Deposit Methods
▪ Rated at 7/10Below you can see a list of the deposit methods available on Mdex. Some of them may not be available in United States as it depends on regional regulation, but normally the most common payment methods are available across numerous countries.
In order to trade and invest at MDEX, you have to deposit crypto. Since this is one of few decentralized exchanges with multiple blockchains - BSC, ETH and Heco - you have multiple options for deposits. Still, it would be great if they offer some solutions from Moonpay or other debit card enabled services so FIAT users can deposit as well.
The biggest issue so far is that MDEX is really slow when it comes to withdrawals. Some customers reported to us that it takes over 3 days to even hear from the customer support when they try to take out money. Read more about the deposit methods at Mdex here.
Platforms
▪ Rated at 9/10The following platforms are supported by Mdex:
Mdex QR code to scan with phone
The MDEX platform is user-friendly. It doesn't use bright and distracting colours and instead goes for blue, purple, and white colours. All essential links are listed properly on the top bar of the website, so you can easily navigate the site. Towards the bottom of the site, there are also links to the FAQ section and the user guide.
Automated Trading and Copy Trading
There doesn't appear to be any ability to copy expert traders on this site. Likewise, there is no autotrade functionality on MDEX.
Broker Support
▪ Rated at 9/10The customer support team of MDEX can only be accessed via email, and responses can be a little slow. You will usually get responses within a few days. While speed can be an issue, the customer service team is known for being extremely helpful and knowledgeable. As such, you can expect your issue to be solved once it is forwarded to the team. If you are new to the platform, you should consider going through the FAQ and user guide sections as most issues are covered there.
Other Names for Mdex
Mdex is or has also been known under the following names: MDEX Exchange Ltd
FAQ
Where can I register for Mdex?
The best way is to open an account here and if you have any further questions you can get in touch with their support directly.
Can I do liquidity mining on MDEX?
Are MDEX licensed?
MDEX doesn't have any licenses, but it has passed Certik, Slowmist and Fairyproof security audits.
Who founded MDEX?
Mandala was initially created as a revolutionary cryptocurrency in late 2017, and the project was launched by Nate Flanders and Anant Handa. These same individuals would launch the decentralized exchange in 2021.
Is MDEX a reliable crypto exchange?
Yes, this platform has consistently ranked among the top decentralized exchanges by trade volume.
How does Mandala decentralized exchange earn money?
MDEX earns money by charging trading fees. Currently, the level is around 0.3%.
Can I lose cryptocurrencies when trading on this decentralized exchange?
No, it has implemented various security features to ensure that it cannot be hacked. Unlike centralized exchanges, this one cannot be attacked on a single computer, and this makes it highly secure. Also, the exchange doesn't hold investors' money as the funds will always be transferred to your wallet.
Can I deposit funds on this exchange using credit cards?
No, you cannot use credit cards to deposit funds at MDEX. The platform only accepts traders who already hold cryptocurrencies, so you can't use any deposit methods for fiat currencies.
Instruments available
Find the full list of instruments available to trade at Mdex here. Below are some of the most popular cryptocurrency pairs available on MDEX.
▪ Rated at 10/10
Crypto Currencies
03, 4BELT, AAB, AAVE, AAVE/USDT, ACH, ACMD, ADA, ADA/USDT, AFT, ANO, APYS, AS, ASS, ATM, AURA, BABYDOGE, BABYDOGE/USDT, BADI, BAG, BAG/HBTC, BAG/HUSD, BAGS, BAL, BAL/USDT, BCV, BEE, BET, BETH, BETH/ETH, BIFI, BIRD, BKK, BLACK, BLS, BNB, BNB/WHT, BOO, BOO/MDX, BSD, BTAU, BTCMT, BUTTER, BXC, BXH, BXH/USDT, BXS, C, CAN, CETF, CMC, CMP, CNCE, COB, COMP, COMPT/USDT, CON, CON/USDT, COO, COOK, COS, COW, COW/USDT, CROX, CRU, CVT, DAI, DAI/USDT, DBC, DEP, DEP/HUSD, deUSDC, DFT, DHD, DHM, DMT, DMT/DUSD, DOG, DOGE, DOGE/USDT, DOGMOON, DOGO, DORA, DOTC, DUSD, eCELL, EDC, EDC/USDT, ELA, ELA, EOS/USDT, EPK, ETET, ETH, ETH/HBTC, ETH/JBTC, ETH/USDT, ETHST, FA, FC, FCN, FCS, FEI, FEI/MDX, FIDO, FILDA, FIRE, FIX, GDT, GFC, GOAT, GOF, GOLD, GTL, HB, HBC, HBCH, HBO, HBSV, HBTC, HBTC/USDT, HBTC/USDT, hCFX, HDOT, HDOT/USDT, HFI, HFIL/USDT, HGB, HHO, HIC, HIS, HJW, HLTC/USDT, HN, HNB, HOBA, HOGT, HOO, HPT, HTC, HTM, HUSD, HUSD/USDT, XTZ, HYMOON, HYN, IDT, IFNT, IFT, ITFX, JT, KIKA, KISHU, KISS, KUNGFU, LAMB, LAVA, LEV, LGC, LHB, LHB/USDT, LINK, LINK/USDT, LION, LLC, LLS, LUCK, LYFI, MAKI, MAN, MATTER, mBTM, MDX, MDX/ETH, MDX/HBTC, MDX/HUSD, MDX/USDT, MDX/WHT, MEL, MFIL, MKR, MKR/USDT, MNC, MOMAT, MOORE, MX, NDCEX, NDFIL, NFTB, NHA, NHBTC, NIO, NT, NULS, NULS/USDT, NVT, ODT, OFE, OGT, ONE, ORB, PAUL, PFI, PiMoon, PIPI, PKQT, PLATO, PMD, PNEO, PNX, POL, PTD, PTT, PUSD, pUSDT, RDTK, RING, RP, RSD, SAFEHAMSTERS, SALE, SAME, SAP, SCASH, SEED, sFILDA, SGB, SGT, SH, SHARE, SHIB, SHIB/USDT, sHT, SID, SIOO, SKILL, SKK, sMDX, sNEO, sNULS, SNX, SNX/USDT, SOVI, SOVI/WHT, STAR, STK, SWF, SWFTC, SYN, TLOD, TOP, TPT, TRE, TRIBE, TRIBE/USDT, TUSD, TXT, UDog, UNI, UNI/USDT, USDC, USDC/USDT, USDT, USDT/FA, USDT/HEME, VEE, VFIL, VNLA, WAR, WAR/USDT, WHT, WHT/HBTC, WHT/HBY, WHT/HUSD, WHT/PiMoon, WHT/USDT, WITCH, WND, WNOW, WOO, WOO/USDT, WOOD, XC, XF, XFORCE, xMDX, XNFT, XRP, XRP/USDT, XTM, XY, YF, YFI, YFI/USDT, YFX, YZN, ZT Mdex QR code to scan with phone
NOTE: Customers from United States are not allowed to register. Find another broker here.
Screenshots from Mdex
Related blockchain? Learn more about BNB Chain
BNB blockchain, formerly known as Binance Smart Chain (BSC) and Binance Chain, has merged the two past chains in an attempt to become more decentralized. BNB chain has the appropriate architecture to empower its users to build decentralized applications and assets on one blockchain. Binance came to the scene in 2017. It later produces the Binance Smart Chain in May, 2020. The chain is smart contract compatible, and it has increased functionality for developers building solutions. BNB chain use the Binance Bridge to facilitate the cross-chain conversion of assets and are backed by tokens...
›› Read our full BNB Chain review here
BNB Chain is the evolution of the Binance Smart Chain (BSC) and Binance Chain.
Read the Mdex Terms and Conditions here.
Mdex Review Published: Thursday, 10 Mar 2022 1:56 pm
Last Updated: Thursday, 9 May 2024 1:26 pm
