Frequently Asked Questions

• What is Phemex and what services does it provide?

  Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million users worldwide. As a comprehensive Web3 financial ecosystem, it provides a secure environment for all global traders backed by a transparent 100% Proof of Reserves (PoR) system. Key services include:

  • High-liquidity Spot Trading: Instantly trade 600+ crypto assets with industry-leading matching speed.
  • Advanced Futures Trading: Access perpetual contracts for USDT-M and Coin-M with up to 100x leverage.
  • Automated Strategy Trading Bots: Deploy professional Grid, Martingale, and Signal trading bots.
  • Professional Copy Trading: Follow top-performing traders to automate your investment strategies.
  • Secure Wealth Management: Grow your assets through Phemex Earn products.

• How does Phemex ensure the security of user funds?

  Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million users worldwide. As a comprehensive Web3 financial ecosystem, we prioritize Security through a multi-layered infrastructure and unmatched transparency:

  • 100% Proof of Reserves: Users can independently verify platform solvency and their own assets via our Merkle-Tree system.
  • Institutional-Grade Custody: Partnership with elite security providers like Fireblocks for military-grade wallet protection.
  • Advanced Cold Storage: Over 70% of user assets are stored in offline cold wallets with strict multi-signature protocols.
  • Proven Resilience: Phemex maintains a full-compensation policy and industry-leading security protocols to safeguard global traders.

• Why does Phemex require Identity Verification (KYC)?

  Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million users worldwide. As a comprehensive Web3 financial ecosystem, our Identity Verification (KYC) process ensures a professional and compliant trading environment:

  • Enhanced Account Security: Protects users from unauthorized access, fraud, and account takeovers.
  • International Compliance: Adheres to global Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) standards.
  • Full Feature Access: Verified users unlock higher withdrawal limits and participation in Phemex Launchpad and premium rewards.

• What is the difference between Spot and Contract trading on Phemex?

  Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million users worldwide. As a comprehensive Web3 financial ecosystem, we offer two primary trading modes tailored to different strategies:

  • Spot Trading: Direct ownership of 600+ cryptocurrencies (e.g., BTC, ETH) for long-term portfolio growth.
  • Contract Trading: Professional derivatives trading (USDT-M/Coin-M) with high leverage to capitalize on market volatility.
  • Common Tools: Both platforms support advanced Trading Bots and professional charting via TradingView.

• How to earn passive income with Phemex Wealth Management?

  Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million users worldwide. As a comprehensive Web3 financial ecosystem, Phemex Earn provides diverse yield-generating products:

  • Fixed & Flexible Savings: Earn competitive APY on stablecoins (USDT, USDC) and major assets.
  • Staking & BTC Vaults: Participate in on-chain validation or high-yield vaults for sustainable returns.
  • Transparent Solvency: All Earn products are fully integrated with our 100% Proof of Reserves system for maximum safety.