6 minute read
Is MEXC Exchange Available in Hungary?
from MEXC Exchange
by XM Blog
Yes — MEXC Exchange is available for users in Hungary, and Hungarian residents can register, verify their accounts, deposit funds, and trade cryptocurrencies on the platform without restrictions from MEXC itself. The exchange operates globally, serving millions of traders in over 170 countries, including Hungary. However, as with any cryptocurrency exchange, Hungarian traders should be aware of local regulations, tax obligations, and potential risks when using MEXC for trading.
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In this article, we will explore how MEXC operates in Hungary, the legal landscape for crypto users, how to open an account as a Hungarian resident, supported payment methods, trading opportunities, and essential security tips to ensure a safe trading experience.
MEXC’s Presence in Hungary
MEXC is a centralized cryptocurrency exchange founded in 2018, known for its wide selection of cryptocurrencies, competitive fees, and advanced trading features such as spot trading, futures contracts, margin trading, staking, and launchpad participation. While MEXC does not maintain a physical office in Hungary, the platform is accessible online and fully functional for Hungarian users.
The exchange supports traders from Hungary in the same way as other countries where MEXC operates, providing full access to its trading pairs, liquidity pools, and investment options. The interface is available in multiple languages, and although Hungarian is not yet supported as a native interface language, users can operate in English or other available languages without limitation.
Legal Status of Cryptocurrency in Hungary
Cryptocurrency trading is legal in Hungary. The country follows European Union guidelines, as it is an EU member, which means that crypto activities are generally permitted but regulated under anti-money laundering (AML) and counter-terrorism financing (CTF) rules.
Hungary has no outright ban on cryptocurrency exchanges, and citizens can use global platforms like MEXC, Binance, Bybit, and others. However, Hungarian traders should be aware that:
Profits from cryptocurrency trading are taxable.
The National Bank of Hungary (MNB) does not issue licenses for crypto exchanges but may monitor activities for compliance.
Traders should comply with the European Union’s AMLD5 (Fifth Anti-Money Laundering Directive), which requires KYC verification on exchanges like MEXC.
In short, there is no legal restriction preventing Hungarians from using MEXC, but users must handle tax reporting and follow compliance rules.
Opening a MEXC Account in Hungary
Creating a MEXC account from Hungary is straightforward. The process involves registering via the MEXC website or mobile app, completing email or phone verification, and optionally undergoing identity verification (KYC) for higher withdrawal limits and full feature access.
Basic steps include:
Visit MEXC’s official website and click “Sign Up.”
Enter your email address (or phone number) and create a password.
Verify your email or phone with the code sent by MEXC.
Complete KYC verification by submitting your government-issued ID (passport or national ID card) and a selfie for face verification.
Deposit funds using crypto or supported fiat methods.
KYC is not only necessary for compliance but also improves account security. Without KYC, you can still trade, but withdrawal limits will be significantly lower.
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Funding Your MEXC Account in Hungary
MEXC supports both cryptocurrency and fiat funding methods for Hungarian users. While the platform does not currently integrate directly with Hungarian Forint (HUF) bank transfers, traders can still deposit via:
Cryptocurrency deposits from other wallets or exchanges.
Third-party fiat gateways such as Banxa, Mercuryo, or Simplex, allowing purchase of crypto using debit/credit cards in EUR or USD.
Peer-to-peer (P2P) trading, where you can buy crypto directly from other users using bank transfers.
Because HUF is not a primary supported fiat currency, most Hungarian traders convert HUF to EUR or USD through local banking services before using it to buy crypto on MEXC.
Trading on MEXC from Hungary
Once your account is funded, you can access MEXC’s full trading suite, which includes:
Spot Trading – Buy and sell over 2,000 cryptocurrencies directly.
Futures Trading – Trade perpetual contracts with leverage.
Margin Trading – Borrow funds to increase position sizes.
Staking & Earn – Lock your crypto to earn interest.
Launchpad Participation – Invest in early-stage blockchain projects.
Hungarian users have no restrictions on these features, meaning you can trade the same assets as users from other countries. MEXC is particularly appealing to traders looking for smaller, newly listed altcoins that might not be available on larger exchanges.
Security and Regulation Considerations
While MEXC is available in Hungary, it is important to remember that the exchange is not licensed by Hungarian authorities. It operates under offshore regulation, meaning it does not have the same consumer protections as regulated EU-based exchanges.
Hungarian traders should take their own security measures seriously:
Enable Two-Factor Authentication (2FA) using Google Authenticator or Authy.
Use strong, unique passwords for your account.
Be cautious with P2P transactions and only trade with verified users.
Withdraw funds to a private wallet if you’re not actively trading.
It’s also important to note that cryptocurrency markets are highly volatile, and losses are possible. MEXC does not provide government-backed insurance on deposits.
Taxation for Crypto in Hungary
Profits from crypto trading on MEXC are considered taxable income in Hungary. The general tax rate on capital gains from cryptocurrency is 15%, plus potential healthcare contributions (depending on the structure of income).
Hungarian residents should:
Keep detailed records of all trades, deposits, and withdrawals.
Convert crypto earnings into HUF values at the time of the transaction for tax purposes.
File annual tax reports to avoid penalties.
Consulting a tax advisor familiar with cryptocurrency in Hungary can help ensure compliance and potentially reduce tax burdens through allowable deductions.
Advantages of Using MEXC in Hungary
Hungarian traders benefit from MEXC’s:
Global accessibility with no regional restrictions.
Large selection of cryptocurrencies, including many niche tokens.
Low trading fees compared to some competitors.
High liquidity for both major and smaller coins.
Advanced features like futures, staking, and launchpads.
These advantages make MEXC a strong choice for Hungarian users looking for diverse trading opportunities beyond what some local or EU-only exchanges offer.
Risks and Limitations
Despite the benefits, Hungarian users should also consider the potential downsides:
Lack of Hungarian Forint direct support may require extra conversion steps.
No local regulation, meaning less legal recourse in disputes.
High volatility of crypto markets, especially for low-cap altcoins.
Possible banking restrictions when moving funds from exchanges.
Being aware of these risks allows traders to plan accordingly, diversify portfolios, and avoid overexposure to high-risk assets.
Final Thoughts
MEXC Exchange is indeed available in Hungary, offering full trading access to Hungarian residents without platform-imposed restrictions. While the exchange provides attractive features such as a vast coin selection, low fees, and advanced trading tools, users must navigate the lack of direct HUF support, offshore regulation, and the tax implications of crypto trading.
For Hungarians who are comfortable with international exchanges, MEXC can be a powerful tool to access global cryptocurrency markets. However, as with all investments, due diligence, security precautions, and legal compliance are essential to trading successfully and safely.
By understanding both the opportunities and the risks, Hungarian traders can maximize the benefits of MEXC while minimizing potential downsides — making it a viable choice for active crypto investors in the country.
✅ Trade with MEXC now: Open An Account 👈
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