Once they profit, you will earn a cut from the gains and both parties win. This is much like a crypto copy trading platform but a bit more simplified. The only way to deposit money on Mercatox is with cryptocurrency to your wallet on the exchange. The minimum deposit limit is BTC 0.0001, the minimum withdrawal limit is BTC 0.001, and the maximum withdrawal limit is BTC 5 daily if you have verified your identity.
- Users can withdraw coins from the exchange to this wallet for free.
- No, Mercatox is a new cryptocurrency exchange, which is still in its infancy stages and thus is not regulated.
- While the fees may be higher than Bybit and Binance (0.1%), Mercatox still beats the fees charged by many other popular crypto exchanges.
- Almost all countries from all over the world are allowed to trade with Mercatox including the USA, UK, Hungary, Netherlands, Spain, Portugal, Denmark, Greece, Finland, Italy, Ireland, Austria, Sweden, Croatia, and more.
It has developed simple to use platform that let traders trade multiple crypto coins. Traders can view prices from both the e-currency market and the cryptocurrency markets. Mercatox is a cryptocurrency exchange that offers peer-to-peer trading on hundreds of different digital assets.
Unfortunately, the company does not offer bank wire transfer and credit cards options. They execute granted personal data security and protection according to generally accepted practice data protection in the Internet community. Almost all countries from all over the world are allowed to trade with Mercatox including the USA, UK, Hungary, Netherlands, Spain, Portugal, Denmark, Greece, Finland, Italy, Ireland, Austria, Sweden, Croatia, and more. A single commission of 0.25% of the transaction amount is provided for both makers and takers. The rating results published on Cointelligence are based on an independent rating system developed by the Cointelligence team. They do not reflect any official governmental approval or regulatory compliance.
This step creates an additional layer of security as users will not be able to log in without inserting a one-time password generated on the mobile device of the user. Hackers who don’t have the user’s mobile device will be failing to log in to the accounts of Mercatox users due to the inability to log in without this one-time password. Even if they have obtained the email address and the password, hackers won’t enter the account and won’t steal any coins. The platform also offers users the opportunity to earn more through its affiliate program.
Mercatox stole my money
One can directly contact the exchange to see the full list of supported countries. Once you fill the required data you need to press the Log in button. Following the login, a new screen will permit users to select any protection method that you like the most. The user can easily turn off the protection from profit settings. As with any asset, the values of digital currencies may fluctuate significantly….
Is Mercatox Safe?
Mercatox is a relatively small trading volume DEX that has been providing reliable coin-to-coin trading services since 2016. From an economical standpoint, Mercatox provides some value for money with its flat 0.25% trading fee and free deposits and withdrawals. Unlike most cryptocurrency exchanges that we find on the internet, Mercatox is a multifunctional cryptocurrency exchange that offers more than cryptocurrency trading services. Apart from providing trading services for a wide selection of cryptocurrencies, Mercatox also provides its clients with a lending platform, a multicurrency wallet and payment services. With more than 280,000 registered users, Mercatox has become one of the most talked about cryptocurrency exchanges in recent months.
According to CoinMarketCap, Mercatox has a daily trading volume of over $9.5 million which is very small compared to the larger exchanges in the market. Founded in 2016, Mercatox is a United Kingdom-based Decentralized Exchange (DEX) that serves more than 600,000 users across the globe. The Mercatox crypto exchange boasts many features designed to elevate the trading experience. These include a Peer-to-Peer (P2P) crypto exchange, margin trading capabilities, and an in-built cryptocurrency wallet that stores digital assets.
Users can see the full list of supported currencies and countries on the exchange’s website. Although the company claims that it respects the KYC and AML regulations, it doesn’t seem that the company itself is regulated or licensed. At least, the website doesn’t mention any significant legal information. Users are obliged to comply with the KYC requirements but the exchange doesn’t even mention its legal address and other data that can be used in court. However, the lack of registration means that the exchange is harder to hold accountable. It means that the Mercatox team has low responsibility for your funds.
KuCoin Review
As a dedicated crypto exchange reviewer, I am always ready to try new crypto trading platforms and exchanges. My interest piqued when I heard of Mercatox, the crypto exchange making rounds for all the right reasons. Deposits and withdrawals of cryptocurrencies to and from the Mercatox multi-token wallet will not incur any fees. For crypto withdrawals mercatox exchange reviews to an external wallet, a standard network fee will apply. The fee will be minor but will be dependent on the asset transferred, network congestion, and the complexity of the transaction. Unfortunately, Mercatox lacks when it comes to the range of deposit methods as only digital currencies such as Bitcoin and Ethereum can be deposited.
A loyalty program is available by application that issues point rewards, discounted fees and other benefits for various levels of platform promotion. These systemic security concerns are coupled with a history of user reports that indicate frozen funds, withdrawal failures, and weak resolution when problems do arise. For those of us who have been through many crypto cycles, we have come to value security most of all.
Interface & Functionality Review
Join the growing community of satisfied traders who have found Mercatox to be a reliable partner in exploring the exciting world of trading. While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw. For example, if verified account holders can make 5 bitcoin per day, the unverified account holders can withdraw 0.5 bitcoin per day. The broker seeks to attract clients from all over the globe with a specialty in crypto trading and special features presented. Providing the website in different languages like English, Russian and Chinese, the broker allows trading with multiple types of cryptocurrencies.
Withdrawals to credit cards require more details including the bank’s written permission. The referral program has two levels; there is the first level that involves personal invitation where a user earns 15% commission from the transaction conducted by the ones they brought to the platform. And the second level is also known as guest level 1, where the user earns 5% of the transaction. The profit is calculated instantly, and the amount earned is sent directly to the user’s wallet. Stop orders are used to buy or sell the assets at the best market price (just like market orders). The difference is that these orders get triggered only if the market price reaches a specific figure.
The user interface is easily one of the selling points of Mercatox as the platform is intuitive and has a convenient design. We have listed above their minimum deposit requirement related to each coin. In some cases, if you send less than the minimum amount your funds will be lost.
A decentralized crypto exchange (DEX) that has been used widely is Mercatox. We’ve created this Mercatox review to clearly and concisely explain the ins and outs of the platform, highlighting its features, fees, and security measures. However, unverified account holders are entirely not prohibited from withdrawing any amounts from the platform; traders with unverified accounts can make BTC withdrawals up to a certain limit, like 0.5 BTC per day.