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BCH $294.85 (1.75%)
BSV $91.38 (2.09%)
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BNB $377.58 (-1.0%)
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DOGE $0.14 (2.95%)

Phemex Marks 2nd Anniversary

Phemex Market News
  • The Singapore-based exchange recently celebrated its 2nd anniversary.
  • The exchange is holding a competition to empower users.
  • Phemex is known for holding giveaways for its users.

The cryptocurrency industry is very community-focused and this philosophy can be seen in the operations of crypto exchanges around the world that consistently tap into their communities and support their users. The latest of these comes from Phemex, a popular Singaporean crypto exchange.

The company, which was first founded in 2019, is celebrating its second anniversary and is doing so by giving back to its community through its ‘Choose Your Reality’ event. During the event, users will be asked to share their dreams and aspirations and in February next year, the exchange will make the dreams of a few special winners a reality.

The Phemex Philosophy

While many crypto exchanges try to extract value out of their audiences, Phemex was founded by Jack Tao completely on the idea of benefiting retail users, who he felt weren’t being served adequately by Wall Street or existing crypto exchanges. As such, the exchange supports over 40 spot pairs, 39 contract pairs and has attracted over 1.5 million users in just 2 years of its operations, as well as gaining a reputation for being one of the most user-focused exchanges in the industry.

Through all of this, the exchange has launched a number of exciting and unique campaigns such as the 2.1 BTC puzzle giveaway it conducted during its initial launch, as well as its quest to find the original ‘Bitcoin Pizza Guy’. The exchange also had its ‘Era of Zero’ event in May 2020 that offered zero-fee spot trading to premium users.

Needless to say, Phemex has firmly established itself as an exchange that cares deeply about its users and this shows no signs of stopping. Besides the launch of its 2nd-anniversary event, the exchange also seems to be making a foray into the world of NFTs.

Earlier this year, the exchange auctioned an NFT which featured the ETH dresses of a thousand of its users. The NFT eventually sold for 44 ETH, or $100,000 at the time, and the proceeds were split among the users. Its CEO Jack Tao has also spoken recently about NFTs and the metaverse, claiming that it will be another frontier for user empowerment.

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.