Phemex mini review 2021

Phemex is a Singapore-based cryptocurrency derivatives exchange that opened in early December 2019.The exchange is focused on trading deviants. The management team consists of several executives from the Morgan Stanley BXS and EAI teams with more than 40 years of experience in creating high-frequency technologies. Surprisingly, the country in which the exchange is opened — Singapore, intends to develop crypto derivatives, as interest in the market continues to gain momentum.

History — as the developers say, they saw the potential and opportunities in the cryptocurrency, but the exchanges that existed at that time (2017–2018) were not perfect. Realizing the essence of the whole problem, the team left Wall Street and organized Phemex in the summer of 2019. As a result, they devoted themselves to developing a simple exchange for beginners in this topic and the reliability of the project.

How to get started with Phemex?

Create an account by following the simple instructions
(Don’t need KYC — Yes, it is, in order to trade on Phemex, you do not need to confirm your identity, you only need to register by email!)

1. Go to the Phemex.
2. Сlick on the Register button in the upper right corner.
3. Enter your email address and password. (NOTE: The password must contain more than 8 characters, including uppercase, lowercase letters and numbers.)
4. Use invitation code BI4G72 and get a discount on the fee.
5. Enter the verification code that will be sent to the email address you specified.

How to deposit funds on Phemex?

You can top up your account by following the simple steps.

1. Login in Phemex
2. Click the ‘Assets’ option on the top right corner
3. Click the ‘Deposits’ button and choose the cryptocurrency
4. Copy the unique wallet address for the chosen coin
5. Use your personal crypto-wallet to scan the QR code or copy and paste the address to commence the transaction. Choose the intended amount and send it to your Phemex wallet.

Phemex Review: Security

Phemex studies and implements a hierarchical deterministic system of cold wallets, it gives each user a separate deposit address.

Phemex uses Amazon Web Service to deploy its system, so all machines are protected by Amazon.Phemex uses many firewalls for different zones and uses different machines for different trading purposes. In the network, you can find many layers of access control security designed to control access from one cell to another. The organization has multi-level access to control the management of SD cells

Phemex uses a two-factor authentication mechanism to protect all user accounts. When a user performs any important operations, such as logging in, account operations, or changing a password, the system automatically triggers two-factor authentication. This forces the user to perform secondary authentication to protect the integrity and security of the account.

In conclusion, I want to say that Phemex is a modern and young platform, its creators will definitely not abandon this project at the peak of development. The project already has many contracts and agreements. The intuitive interface makes working on this site very convenient, and the site does not lag. ОК