Mercatox Review and Warning For This Crypto Exchange

There is also a lack of some basic options available on many other centralized exchanges. Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein. Austin specializes in topics related to cryptocurrencies and blockchain technology. In short, it’s a platform with a lot of problems and will certainly struggle to compete with any major exchange, centralized or otherwise.

The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders. As discussed previously, Mercatox offers a multi-currency wallet to all users. The wallet gives users the option to store all their different coins in one single place.

1. Their platform was created all the way back in 2016 and is available to users all around the world.
2. In turn, the company does not take part, does not go into the data of all clients and does not check their applications.
3. For those of us who have been through many crypto cycles, we have come to value security most of all.
4. Mercatox is renowned for having a high liquidity level and deep order books that facilitate speedy and effective trades.
5. A chatroom (troll box) is presented and is indicative of an older-style platform but it doesn’t exude the level of professionalism that the major exchanges provide.
6. Theoretically, Mercatox can be used in most countries as the terms and conditions don’t point to any country as prohibited.

Yes, the platform appears to be safe from the various customer reviews even though it is not regulated under any regulatory authorities. Mercatox does not have any compatible mobile application that can allow traders to trade on the go and thus requires users to use their desktop computers to trade on Mercatox. However, if traders wish to execute a trade on Mercatox via their mobile phones, they can do that by logging on to the platform via the web browser. Account creation on Mercatox is very easy, and all that the users need to do is visit the official website of the platform and click on the green “Sign Up” button. They will be immediately directed to a page bearing a simple registration form.

Usually the user pays for the introduction of a new coin, after which there is a vote of customers participating in the loyalty program. Before that, it is necessary to provide the technical service with all the information on the asset, etc. There is another option to add a coin – direct payment, which can range from 0.5 to 5 Bitcoins. Administration reserves the right to personally introduce new crypto coins if it considers them promising.

they could disable deposits of any coin any time . dont ask questions

Some sources name Canada as a location of the exchange’s headquarters. However, users from around the globe can access the exchange, including those based in the United States. Previously a sales and marketing expert, he has been an author covering cryptocurrency and financial markets for the last decade. He holds a bachelor’s degree in international business from Saimaa University of Applied Sciences. On the other hand, Coinbase offers safe and simple withdrawal and payment methods. For instance, on trustpilot forum, one client said, “Avoid this company at all cost.

Pros & Unique Features

You should be aware, that all its social media accounts are only news channels, it never uses it for communication. Mercatox’s website supports mercatox exchange reviews three languages including English, Russian, and Chinese. The website is well-designed and it is easy to find information on pages.

Funding the Account

Ever since I did my one and inly transaction there is a continuing maintenance on my crypto that isn’t allowing me to do anything with it. My only light to this is that it was a small amount of money I used to try them out. Trading.biz is not responsible for any loss of money and possible risks connected with options trading.

Popular Forecast

On the official website mercatox.com there is no information about its regulation and certification, and the address of its headquarters is not given. The protection of personal data is ensured through a verification procedure, which is available as a two-factor authentication that takes place either through Google Authenticator software or via email. Our platform is dedicated to providing you with up-to-date educational resources, expert opinions, and a wealth of information to guide you in understanding the complex landscape of finance. However, we encourage you to consult with a qualified financial advisor before making any investment decisions based on the educational information you find here. The information found on this site does not constitute financial advice.

However, the platform does not hold customer funds in the separate account according to the policies of regulators. Coinbase, on the other hand, works according to regulators policies. It holds trader’s funds in a separate account to increase the safety.

The crypto exchange comes with its own dedicated forum-style website form and a support email for issues. Mercatox is a decent crypto-to-crypto exchange, however, there appears to be a lack of investment in its features that has resulted in several perceived downsides. These include the outdated interface where the charting suffers from latency issues and a poor layout. Additionally, there is a general lack of advanced trading features given the abundance of better altcoin trading exchanges in the market.

At the same time, they refer to the fact that a number of promised options either do not exist, or they began to work with a delay. However, the support service responds to all appeals from customers around the clock, and if there is a delay with the introduction of new features, it is only because the developers are trying to work them thoroughly. Sometimes there are problems with logging into the site mercatox.combut often this is due to overloading of the network, etc. The resource also has its own token – Merca, which will allow its owner to receive a stable profit from operations. To attract investors’ attention to the exchange, soon after the platform opened, the developers launched a 30-day crowdsale (an auction in which anyone interested could invest in the development of the coin). The bidding, which included 20,000 Merca worth 100 Bitcoins, was successful, with nearly 5% e-coins sold during the first stage.

If you want to use fiat currencies in any way you will need to use a different exchange. This article will outline several reasons why you may want to shy away from this exchange, examining the broker’s reputation, fees, trading conditions, deposit and withdrawal choices, the trading platform, and more. Embark on your trading journey with Mercatox, a versatile broker that caters to diverse trading preferences. With its user-friendly platform, both novice and seasoned traders can navigate the markets with ease. Mercatox stands out with its unique offerings such as a multi-currency wallet, providing traders with the flexibility to manage various assets efficiently. Withdrawals are available with fees applied to them however the fees are quite reasonable and match the average of the market.

On the same date, the platform’s 24-hour trading volume was USD 16.2 million, giving it place no. 84 on the list of the exchanges in the world with the highest 24-hour trading volumes. As three of its advantages, the exchange states that it has low fees, a loyalty program and an affiliate program. We will go into more detail on the fees below (see Mercatox Fees), but we can already here say that the fees are not low. Once the trading account is successfully set up, users will be directed to fund their account using any of the supported deposit methods, after which they can seamlessly trade on the platform. Also, there are a plethora of obscure coins that can be found, and this is one of the biggest sources of criticism for the exchange with many of the tokens dubbed useless by the platform users.

Imagine if you paid $25.5K only to see other orders going through at $22.5. That is even worse than AAATrade which has a roughly $800 spread when trading Bitcoin. First, you will notice extremely little volume and few transactions. The sizes (in BTC) are also relatively small, under $1000 in value. The highest bid in the middle of the US session, for example, was $22,400, while the lowest offer was $26,440. You can of course place your own bids and offers in between these and hopefully someone will trade with you at a better rate.

According to Mercatox, deposits and withdrawals normally take only a few minutes to complete. Many other cryptocurrencies are supported by Mercatox, including Bitcoin, Ethereum, Litecoin, and many more. Agree to the terms and confirm the transition to the site of the payment provider.