Well, I'm not proud to say it... but on the other hand, pragmatism is hard to deny! And a trickle of crypto is always welcome...

So, for those that don't know... MEXC is one of those mid-tier exchanges that is pretty well known for trading in "lesser-capitalised" coins... and as a bonus, it has a HIVE deposit and trading market! If you hold a minimum of 1000 MX (the exchange token...), you are eligible to take part in the constant stream of Kickstarters and Token drops (honestly, there seem to be about a minimum of 10 per day...)... mostly of very low quality, recently listed and released coins.

During the last bear market, when fear was everywhere and it was really hard to tell who was properly capitalised or not, I sold my stake in most of the mid and low tier exchanges... it wasn't worth it to keep on board for many of them. They were a bit of a bull market thing... and I didn't want to see if they were fully backed or not... I already had been slightly burnt by FTX, and I didn't want to repeat that lesson.

Anyway, it turns out that MEXC was fine... or at the very least, was able to survive through the worst of the bear and has re-emerged from the other side. Thankfully, I had already started to reaccumulate the MX token before the market heated up to the present day...

... and MEXC is back to listing shitcoins pretty much on the same day that they are released on-chain. It is pretty damn dodgy, and there are some people who will put forward the idea that some of these exchanges are either directly or indirectly in the know about the creation of these memecoins. I have no idea... and quite honestly I don't really care.

Normally, I really like taking punts in the infrastructure stuff... I am still idealistic at heart about all of this... but I won't turn down an opportunity to make a quick buck, but I won't go out of my way to risk everything either.

Now, I've got no time or appetite to hunt down things on DEXs... too much risk, and if you want to play that game, you need to be super lucky, in the know, or be the person that is being dumped on.

I'm not really the first two... and I'm not keen to be the last!

So, with MEXC listing quite early on the life-cycle of these memecoins... having the minimum MX ready to take part in these drops is pretty damn nice. Sure as hell, I'm not holding any of these tokens though... most of them are immediately converted to MX or dumped to stablecoins if there is a viable market. In fact, some of them even just drop USDT instead of the token itself (and sometimes both!).

There has been one huge improvement in the MEXC user interface since the last time I was taking part in these... and it is the "quick commit" button that is on the page. Basically, with one click, you are signed up to participate in the ALL the drops available... and your MX is liquid and able to take part in any other activities! Previously, you would have to stake and lock your MX individually to each project... pfff, too time consuming for something that you would dump as soon as possible!

Buyer beware, the MX token needs to have a minimum of 1000 in account for 30 days before you are eligible for these drops!

So, I'm not sure what this is... but it is the polar opposite of investing... I'm pretty sure that the moment these coins hit MEXC, they are in full dump mode, with perhaps a few bounces left in them... but I sure as hell am not going to hold anything to the inevitable zero...

I can also be found cross-posting at:
Hive
Steem
Publish0x

Handy Crypto Tools

Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Coinbase Wallet: Multi chain wallet with lots of opportunities to Learn and Earn!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
WooX: The centralised version of WooFi. Stake WOO for fee-free trades and free withdrawals! This link also gives you back 25% of the commission.
GMX.io: Decentralised perpetual futures trading on Arbitrum!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
KuCoin: I still use this exchange to take part in the Spotlight and Burning Drop launches.
MEXC: Accepts HIVE, and trades in most poopcoins! Join the casino!
ByBit: Leverage and spot trading, next Binance?
OkX: Again, another Binance contender?