Gaining Access

Oftentimes investors miss out on acquiring altcoins with enormous potential simply because they are not listed on major exchanges. Yes, in time, many of these major exchanges do end up listing some of these projects. However, by this time it’s too late. The early adopters have already enjoyed the significant gains. In the past, Hotbit was my go-to “shopping spot”. KuCoin is also pretty sharp, in terms of early listings.

However, I did find that Hotbit offered a far more comprehensive and extensive range of altcoins, and often listed coins before KuCoin. Sadly, Hotbit is no more. The exchange ceased operations a couple of months ago, and so I had to discover an alternative. I opened an account with MEXC a few years ago and used it once or twice. I think my initial motivation was a PoS coin I was earning passive income with. Other than that, I have never really made use of it.

One of my most recent altcoin acquisitions is Taraxa, which I discovered was quite actively traded on MEXC. When it comes to micro-caps, volume can sometimes be an issue, and so I tend to utilize the market that offers the most volume. In Taraxa’s case, this is MEXC. I have been actively exploring altcoins and micro-caps over the past week or two, and have noticed that many of these under-the-radar projects are available on MEXC.

I have also found deposits and withdrawals to be smooth and straightforward. This is also a rather important aspect. If you are an altcoin investor and are shifting your purchased assets from an exchange to self-custody solutions, you might have noticed that some exchanges charge withdrawal fees that far exceed the actual network fee. This is a concern with certain exchanges and often deters smaller investors.

I have withdrawn Taraxa, as well as another altcoin I am yet to announce, and was surprised to find that in both instances, the withdrawal fee was basically in line with the network fee. This is another upside to blockchains that are scalable, network fees are not lower on scalable blockchains by coincidence. Larger and more frequent blocks reduce competition, and simultaneously, transaction fees.

This is by no means a review or endorsement of MEXC. However, I have found it a valuable exchange to have access to, especially when it comes to gaining access to potential gems. Many investors make use of KuCoin, but as I mentioned, there are often coins that are not listed, and I have found that on many occasions, they are available on MEXC. The exchange also offers futures trading.

If coins like Taraxa get added as futures I might open up a leveraged long position if the market experiences a severe correction. I would then proceed to hold that position into 2025, and even possibly 2026. However, it’s not common practice for exchanges to provide futures trading for such small projects, in terms of market cap and volume.

Final Thoughts

Essentially, exchanges are a necessary evil. As a responsible investor, self-custody should be a priority. Exchanges are a tool, not a wallet. The best approach is to acquire your coins and move them into privately controlled cold wallets. I usually make use of multiple wallets. Diversification is something I practice in regard to every aspect of investing, not just what I choose to hold, in terms of coins and tokens.

This is usually the stage that I begin looking for micro-caps, and so having access to smaller, unrecognized projects is imperative. By this particular stage, most altcoins have bottomed. In other words, apart from a flash crash, it’s the best time to look at building long-term positions for 2025. Thanks for stopping by. I look forward to the next one. All the best!