In the past, there were payment gateways that were allowing users to buy crypto coins or deposit fiat money. There were partner companies that provided Mercatox users with the opportunity to deposit traditional currencies to exchange it for crytpo via bank cards or wire transfer. However, as of January 2022, it seems that all of these payment methods are no longer supported. A user has to verify the account for higher withdrawal limits by uploading two I.D. Pictures and an official document containing the personal address. The user gains access to up to 5 BTC withdrawals in 24 hours by verifying the account.
Unlike other exchanges that don’t set limits on minimum and maximum amounts, Mercatox imposes restriction regarding the amount. They have set minimum deposit level which differs from crypto to crypto. For Bitcoin’s, the deposit must not be less than 0,0001 BTC. Mercatox is a reputable peer-to-peer cryptocurrency exchange that only has a 0.25 percent fee on all trades.
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. There are no other serious security options on Mercatox. The platform also offers users the opportunity to earn more through its affiliate program.
Best Mercatox Alternatives
However, these days, many popular exchanges (e.g. Gate.io, Binance, HitBTC, etc) support even more coins. No, however Mercatox notes a difference between verified and unverified accounts. Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Mercatox—over 351 coins and over 1300 pairs. Kraken offers a large variety of cryptocurrencies and pairs , so users who value a large selection and advanced traders who seek regulated margin will prefer Kraken by far. Gemini offers 62 coins and 86 trading pairs which is smaller as compared to that of Mercatox’s 174 coins and 277 trading pairs.
Few years ago im try using this exchange is on 2019, no isue on those time then now feb 2021 started to use again. I star with 200 after i did the transfer they ask me 500 to payme the profit. They could only add different statistics for your account like how much do you have in USD/BTC, how much total and on orders too. Limited information available on the exchange’s website regarding the platform’s functionalities.
This process is very easy to execute and once you have transferred your tokens to the exchange you are free to trade any of the 700+ crypto trading pairs available. Users can easily withdraw funds from Mercatox by logging into their official website, which will direct them to the E-Wallet page of the exchange. Users then need to click on the ‘Withdraw’ tab, and the withdrawal options will appear on the screen. Finally, the users should https://forex-review.net/ type in the exact amount they want to withdraw, paste the wallet address, and click on the ‘Submit’ button. According to a Mercatox exchange review, the trading fee on the platform is charged at the rate of 0.25%, which is perfectly in line with the global industry average, which is also 0.25% per transaction executed on the exchange. Mercatox provides a multi-currency wallet to its users, which is fast, secure, and comfortable.
They assured me that the technical issue would be fixed soon. We are now more then 1,5 month and several submitted tickets later and LTC withdrawal is still unavailable. There is no reliability, so the slogan ‘Mercatox your reliable partner’ does not make any sense. They are incompetent to fix a relative small technical issue while the website is from time to time unavailable for maintenance.
If yes, we would love to hear more about your experience in the comments. You won’t get the full service from Mercatox if you don’t provide the required information. This data includes the full legal name, date of birth, sex, nationality, marital status, I.D./passport and photo, a selfie with documents, telephone number, residential address, and email address. Get the latest news and best offers from the crypto community by joining our newsletter. I sent another support ticket a few minutes ago which I will copy and paste onto the bottom of this review shortly, I will update readers when I get a response. The message confirms that they are having technical issues with the global rental token wallet but they hope to have it resolved soon.
Some users claim withdrawals come in a matter of seconds, while others say it took them minutes to get their funds after withdrawals. We cannot take away that Mercatox offers various digital assets to trade on. Users can also access the platform from anywhere in the world. Nonetheless, users have reported cases saying that Mercatox is a scam because users often lose their funds on the platform.
The traded price of digital tokens can fluctuate greatly within a short period of time. The price and value of any investment in digital asset products can fluctuate. Both the maker and taker fees for Mercatox are 0.25%, which is about average for the industry. It’s noticeably better than brokers like Crypto.com (0.40%) and Coinbase (0.50%), but not quite as appealing as Binance (0.10%) or FTX (0.02%, 0.07%). While Mercatox clearly advertises lending as one of the their main tabs, it isn’t accessible from the United States or any other country via a VPN. It’s possible they haven’t fully rolled out that service, but the tab has been up on their platform for several years, so I doubt that is the case.
Is Mercatox a wallet?
The platform also enables verified account holders to view their transaction history from their order book window. In this Mercatox review, we discussed that Mercatox is a London-based exchange with a wide range of cryptocurrencies traded with reasonable trading fees. However, there’re a lot of concerns regarding the broker.
- Previously a sales and marketing expert, he has been an author covering cryptocurrency and financial markets for the last decade.
- The fastest way for day traders to trade without automation.
- We have listed above their minimum deposit requirement related to each coin.
- As for now, the services remain below par when compared to what the leading exchanges are able to offer.
- They are incompetent to fix a relative small technical issue while the website is from time to time unavailable for maintenance.
The platform permits traders to trade more than 100 cryptocurrencies. Traders from all over the world can access a wide range of currency pairs along with a multi-currency e-wallet. The platform is basically established to match buyers with sellers. Like most cryptocurrency exchanges, Mercatox differentiates between unverified account and verified the account. Naturally, with verified accounts, the withdrawal limits are higher. Nevertheless, unverified accounts can still make BTC withdrawals limited to 0.5 BTC per day.
The minimum withdrawal amount for crypto assets is 0.001 BTC for BTC and 0.016 for ETH. Other minimums can be noted here on the right hand column. Withdrawal fees for crypto assets depend on a combination of the blockchain network in question as well as the exchange’s fees and can be noted for each asset here in the left column. Only crypto asset withdrawals allowed and minimums are listed here in the third column. International users who can use FTX International may prefer FTX for these reasons over Mercatox. Fees are far more competitive at FTX, since FTX offers both fee incentives for volume and for holders of its FTT token, so fees can easily reach 0.10% or lower at FTX .
The profit is calculated instantly, and the amount earned is sent directly to the user’s wallet. These orders get triggered only at the specified or better price. It happens when the market price doesn’t reach the price specified by the user or gets worse than this price.
FTX will win against Mercatox for even beginner traders unless specifically seeking KYC-free trading, as FTX offers fiat functionality, 323 coins and 492 trading pairs, which is again higher than Mercatox’s selection. With almost a decade of experience, Mercatox knows precisely what the average cryptocurrency trader wants. It is essential to know that Mercatox’s has a convenient design that appeals to different traders—both experienced and novice. Mercatox is a multifunctional cryptocurrency exchange that provides its clientele with a variety of services related to cryptocurrencies. There is a multicurrency wallet option for clients to trade in which is easy, quick, and safe. The wallet allows you to store the crypto coins that you’ve bought from the broker and hold them in the wallet until they’re sold.
It’s easy and it only takes about 10 seconds to click the email that you receive every time you log in. The second is the two-factor authentication by Google which is an app you download mercatox review on your smartphone to add an extra security layer. About MERCATOX and our plans Mercatox is a modern service for accessing e-currency and crypto currency exchange markets.
I have made well over 100 support tickets to get them to take my coins out of maintenance so I can remove the coins from this exchange. They only respond with the same comments over and over It has now been 5 months and now they just ignore me. SHARE THIS WITH EVERYONE. No support and you will lose your coins. Mercatox exchange is located in the United Kingdom; however, users worldwide can access the exchange. Users can see the full list of supported currencies and countries on the exchange’s website. This order prompts the users about the maximum price of cryptocurrencies to buy or their minimum price to sell.
What is Merxatox Exchange?
There is also a chat room on Mercatox where traders can discuss the market situation, ask questions about technical analysis, and promote some of their favorite coins. This creates a good sense of community that I know all traders would appreciate. Register your account with lightning speed and start trading within minutes. In this section of our Mercatox review we have highlighted 6 special features that sets them apart when compared to other platforms.
Withdrawals to credit cards require more details including the bank’s written permission. In general, the Mercatox user community is quite active in the comment section of the Mercatox Twitter account and it’s safe to say that most of them are loyal to the platform. There are almost no complaints, most of the reactions showcase a positive and trustful attitude. Probably at that point, the exchange started to fade away. There are signs that the website is not updating since about the same time. The chatbox is active and the official Twitter of the exchange makes announcements once a month or so.
Where Mercatox Is Located?
Some of the exchange’s webpages are also not well developed and the exchange in general has a very old-fashioned feel to its look. Interestingly, the Ethereum withdrawal fee is 0.002 ETH, higher than many popular exchanges. This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. This is perfectly in line with the industry average that is arguably also on 0.25%.
Ultimately, advanced users who desire both competitive fees and a greater selection of trading products than what Coinbase offers may find the choices below equally valuable. Typically at any major exchange, one can get lower fees as 30-day trading volume increases and if one provides liquidity to the order book. As for customer support, Mercatox offers a support service centers customers can access via logging in and submitting aticket. The exchange reached an advertised 600K users in 2019 and the users had executed an aggregate of 17M deals worth a total of 651K BTC. As of 2022, Mercatox sees around $24M in daily average trading volume, according to CoinMarketCap. There are different reports on how long it takes to withdraw money from Mercatox.
These rewards are 2 types, the loyalty program, and the affiliate program which have 2 subdivisions inside that are 1st and 2nd level referrals. You can gain money without crypto trading through margin lending service in which the broker lends you the funds and so you can trade and make profit. The broker is offering as well the limit order service which can tell the clients, who have set up this service, about the maximum price of cryptocurrencies to buy or the lowest price to sell. For example, if verified account holders can make 5 bitcoin per day, the unverified account holders can withdraw 0.5 bitcoin per day. However, the UK financial watchdog did not provide a definite regulation for the crypto-exchanges. This is currently the most common case of cryptocurrency exchanges worldwide.
The stop order service is also offered by Mercatox which instantly transforms into a market order after reaching the current market price at a specified rate. When you log in for the first time to the exchange you need to verify your email by clicking LOGIN TO ACCOUNT in the email you receive. You can choose to disable this feature in the Security section of your profile.