The Phemex exchange has alot of cryptocurrency, they exchange support Leverage, fiat deposits and more.
The only issue is that United States residents cant use Phemex exchange, here is how you can use Phemex in the US.
How to use Phemex in US immediately
Follow these steps to use Phemex in USA:
- Get a VPN (Surfshark is recommended)
- Connect to a VPN server outside the United States
- Register a Phemex account with your VPN connected
- Get Bitcoin or Ethereum on Coinbase and deposit it into your Phemex account
- Get a multi cryptocurrency wallet (Ledger Nano X, Atomic Wallet, Trustwallet)
- Withdraw your Phemex earnings
What is Phemex and how does it works?
Phemex is a cryptocurrency exchange that is well known for Leverage trading, Leverage trading recently started trending in the cryptocurrency community and is a quick way to make money as a day trader.
With Leverage trading traders can maximize their profit using the features.
Leverage trading has different options 5x, 10x, 20x, 50x and 100x
If i am using the Leverage trading feature and choose the 10x Leverage option, if Bitcoin gains %10 i will gain %100.
The Leverage trading tool is risky and is not for everyone, make sure to invest what you can afford to lose.
Other Phemex features include:
- Trade non cryptocurrency assets
- Buy cryptocurrency with Debit card/credit card
Staking: Phemex.com traders can earn passive income by staking cryptocurrency, staking cryptocurrency can stakers up to %10 apy. There are 2 types of staking: Fixed and flexible.
Flexible staking usually earn less percentage, but users would be able to collect their initial investment at any time.
Fixed staking locks users fund up to a year, profit on fixed staking are usually higher.
Follow these steps to use Phemex in US:
To use Phemex in the United States you would need to have a VPN, i recommended you use Surfshark VPN, If you are connected to a VPN go to Phemex.com, register an account with your email address and confirm it.
Step 1 – Get a VPN
To register a Phemex account in USA you would need a VPN, connecting to different server outside the United States would make the exchange believe you are not a US resident, making it possible to use Phemex in USA. I recommend you use Surfshark VPN because it’s a reputable VPN company and accept Bitcoin and PayPal deposits.
Step 2 – Connect to the VPN server
Once you have paid your VPN subscription on Surfshark, the next step is to connect to a VPN server outside the United States. Connect to other countries eg: Germany, UEA, Japan, Netherlands etc.
Step 3 – Create a Phemex account
Go to Phemex.com and created an account, Fill in your email address, don’t use a phone number. If you have registered an account, verify your email address used to register.
Step 4 – Get Ethereum or Bitcoin from Coinbase and deposit it to your account
If you are new to Bitcoin go to Coinbase.com and purchase Bitcoin. Roobet only accept payment through Bitcoin, Litecoin and Ethereum, no credit card deposits are allowed.
Step 5 – Get a Multi cryptocurrency wallet (recommend)
It’s always recommended to use a safe and secure cryptocurrency wallet, using a cryptocurrency wallet that supports multiple cryptocurrency is the best option. Here are cryptocurrency wallet that supports multiple cryptocurrency:
Step 6 – Withdraw the coins from Phemex exchange
If you have purchased the coin you where planing to buy, the next step is to withdraw the coins or tokens from the exchange. It isn’t a safe option to store your cryptocurrency on an exchange, cryptocurrency exchange are targeted by hackers.
Conclusion – Is Phemex legit?
Phemex is so far one of the fastest growing cryptocurrency exchange in the world with a lot of features, the Phemex exchange is legit. The only issue is that traders in the United States can’t use Phemex.
Always use Phemex when your VPN is turned on in the right VPN location outside the US.