In this guide, we will find out the fastest way to delete your Phemex account without losing funds or data and the best alternative exchanges to choose from after you learn how to delete Phemex accounts.
What to do Before You Delete Phemex Account
Account deletion on crypto exchanges like Phemex is an irreversible action, so all care must be taken before and while deleting your account. Consider the following precautionary measures before parting ways with Phemex to make the process hitch-free:
- Close Active Trades: If you’ve opened positions on any trading pair in the Phemex trading section, ensure you cancel or close the trade before deleting your account. This safeguards you from potential losses and guarantees a seamless deletion process.
- Withdraw Your Assets: Empty all balances in your spot, derivatives, and futures account, and transfer all assets to an external wallet for safety. Assets still in the account at the time of deletion will be lost forever.
- Backup/Export Data: Consider backing up your transaction history and other account data before permanently deleting your Phemex account.
Step-by-step Guide to Delete Phemex Account
Your Phemex account is safe and ready for deletion when you’ve completed the necessary pre-deletion preparations. Simply follow the detailed guide below to clear your Phemex account from existence:
- Log in to your Phemex account. Next, click the profile icon on the top right corner of the screen.
- Tap on the Settings menu to open a new page.
- Scroll down to the Account section and click on Security.
- Select Delete Account from the listed options. You will instantly receive an email containing a verification code for account deletion.
- Copy and paste the code in the chatbox shown on Phemex, then click Delete Account again.
Once you complete the steps, you will receive a confirmation message in your email stating that your account has been deleted and that you can no longer access it.
Why Delete Phemex Account?
Phemex is an advanced crypto exchange with a very high safety index and a truckload of digital trading features. However, several circumstances may prompt users to delete their accounts on the platform. Here are some of the possible causes of Phemex account deletion:
- Changing platforms for better features and rewards.
- Dissatisfaction with Phemex security protocols and fear of breach.
- Unsatisfactory trading fees.
- Issues with Phemex customer service.
- Regional restrictions and other legal issues.
- Permanent exit from the crypto space.
Best Alternatives After You Delete Phemex Account
MEXC
MEXC is a popular crypto exchange known by beginner and professional traders all over the world for its advanced features. It supports a variety of trading pairs, including new and unpopular tokens. MEXC also provides a cost-effective solution for crypto traders, thanks to its competitive trading fees and incorporation of cheaper trading methods. The exchange is ideal for you if you’re looking for an exchange to trade with advanced tools, APIs, and other features at the cheapest rates.
BYDFi
Launched in 2020, BYDFi (formerly BitYard) is an emerging crypto exchange platform focusing on providing trading tools and features that go well beyond the basics. The exchange boasts of its user-friendly interface, making it an ideal choice for newer members of the crypto world. BYDFi offers margin accounts, derivatives, and spot trading, as well as relatively low transaction fees. The platform provides real-time price tracking tools, helping traders stay updated on the latest developments regarding their favorite cryptocurrencies.
Bottom Line
The steps above ensure you can delete your Phemex account with a few clicks on your mobile or desktop devices. However, you must prepare your account for proper deletion to avoid losing crypto funds forever. MEXC and BYDFi are available alternatives to Phemex, which we advise you to check out if you want to continue trading cryptocurrencies.
