- Quick Overview
- What Is Mercatox?
- How Does Mercatox Work?
- Services and Products
- Pros and Cons
- Registration Process
- Mercatox Trading Platform
- Fees & Charges
- Deposit and Withdrawal Methods
- Accepted Payment Method
- Accepted Cryptocurrencies & Countries
- Mercatox Mobile App
- Security & Privacy
- Is Mercatox Regulated?
- Customer Support
Choosing the right crypto trading platform plays an important role in maximizing the returns from the volatile digital currency markets, and that is what this Mercatox review aims to do. This Mercatox exchange review will provide an extensive guide to crypto investors to understand the key features and functionalities of the platform along with its current regulatory status.
|Listed florida sports betting||200+|
|Supported Fiat Currencies||USD, Euro, and Russian roubles|
|Supported Countries||Most of All|
|Minimum Deposit||Depends on Currency|
|Deposit Fees||Depends on Currency|
|Withdrawal Fees||Depends on Currency|
|Customer Support||Mail, FAQ, & Social Network Support|
Quick Overview on Mercatox
- UK based cryptocurrency trading platform.
- Available in 3 languages- English, Chinese, and Russian.
- Supports over 100 varied crypto assets and 3 fiat currencies- USD, Euro, and Russian rubles.
- Supports Margin lending.
What Is Mercatox?
Mercatox.com is a peer-to-peer cryptocurrency trading platform that came into existence in 2016. The platform supports more than 100 leading cryptocurrencies, including bitcoin, Litecoin, Ethereum, and Dash. It allows traders from all across the world to access a wide range of supported currency pairs along with a robust multi-currency e-wallet for both personal and commercial use.
Besides cryptocurrency trading, Mercatox also offers several other services like margin trading and a handful of other payment services like OKPAY, Payeer, Yandex Money, etc., which allow them to invest and earn attractive incomes.
In this Mercatox review, all the important points related to the exchange are discussed, which will help the traders understand whether the claims made by the platform are true or not.
Mercatox Reviews – Platform Interface
How Does Mercatox Work?
Mercatox is an emerging cryptocurrency exchange that seeks to attract customers from all across the world with its unique features and cryptocurrency trading services. Besides being user-friendly, the Mercatox exchange is also available in multiple languages like English, Russian, and Chinese. Traders on the Mercatox platform get the opportunity of trading multiple crypto coins on the exchange and view prices from both the cryptocurrency markets and the e-currency markets.
Services and Products Offered by Mercatox
Mercatox offers the following products and services to its users:-
Multiple Orders Types
Mercatox provides the following order types:-
Limit Order:- This order prompts the users about the maximum price of cryptocurrencies to buy or their minimum price to sell.
Market Order:- This is a buy or sell order that is executed instantly at the current market prices.
Stop Order:- This order type immediately converts into a market order after achieving the current market price at a specified rate.
Multiple Payment Getaways
Mercatox allows multiple instant payment gateways like OKPAY, Payeer, Yandex Money, Qiwi, and Perfect money.
Mercatox provides a multi-currency wallet to its users, which is fast, secure, and comfortable. Users can store all the supported crypto coins they purchase from Mercatox and hold them until they are sold.
Mercatox Reviews – About Mercatox E-wallet
This feature allows traders to make money without crypto trading.
Mercatox rewards its customers for referring their partners on the platform; users receive a percentage of the profits for each transaction executed by their partners (referrals) who have been invited via their referral link.
For First-level Referrals (Personal Invitation):- 15% commission is given out from the transaction.
For Second-level Referrals:- 5% commission is given out from the transaction. Profit is calculated instantly, and the amount is instantly credited to the user’s wallet.
Customers earn privileges in the form of discounted trading fees, voting rights, etc. if they promote Mercatox by any of the following:-
- By reposting important updates of the platform on social media and other popular forums
- Translating topics on Bitcointalk
- Conducting heading of the platform on their blog
Mercatox Reviews – Mercatox Capabilities
Mercatox Review: Pros and Cons
|Supports a wide range of cryptocurrencies.||Not a regulated exchange.|
|Provides multiple e-wallets.||Limited information available on the exchange’s website regarding the platform’s functionalities.|
|Provides multiple order types.||Bank transfers not available.|
|Straight trading fees structure- 0.25% on all trades.||Imposes limits on withdrawals.|
|Loyalty program available.||Does not have a mobile application.|
Mercatox Reviews – Benefits of Mercatox
Getting Started with Mercatox
Getting started on the Mercatox platform involves the following three steps:-
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. Users need to fill in that form with some basic details like email, phone number, and country of residence.
After the form is successfully filled up, a confirmation email will be sent from the Mercatox team to the user’s registered email id, clicking which will activate the account. The users can then use the login credentials and select any protection method of their choice in this step.
Mercatox Reviews – Registration Process
Funding the Account
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.
This is the final step where traders can select any of their preferred cryptocurrency trading pairs which are categorized in 2 sections- e-currency markets and cryptocurrency markets, after which they can start trading.
Mercatox Trading Platform
The Mercatox trading platform is simple to use and is designed to meet the needs of both professional as well as novice traders. The website lists all the supported cryptocurrencies so that the traders can select their preferred cryptocurrency trading pairs. The Mercatox exchange features a proprietary trading platform that is mainly web-based.
The web-based platform can be easily customized, and thus the traders can easily set the order type, crypto price, and the amount of trade they want to execute along with the direction of the trade. The platform also allows its registered traders to view their transactions history from the order book window. Mercatox also allows Margin trading and enables traders to become lenders. With all these advanced features, the Mercatox trading platform seeks to cover multiple investments to expand its customer base.
Mercatox Reviews – Mercatox Tradingview
Mercatox Fees & Charges
The Mercatox exchange does not have a different fee structure for the makers and the takers; instead, it follows a flat fee model. The trading and the withdrawal fees on the exchange are as follows:-
Mercatox Trading Fee
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. Thus, the Mercatox trading fees are quite competitive.
Mercatox Withdrawal Fee
Though Mercatox does not charge any fee on deposits, there is a withdrawal fee charged on the platform that ranges between 0.0003 BTC and 0.005 BTC when users withdraw BTC. However, it depends on how fast the users need their withdrawals to be confirmed. The withdrawal fees are the mining fees or the network fees that the users pay, and if they pay more, the transactions will receive a higher priority and vice versa.
Thus, for those users who pay less, their transactions might take a few days to be processed. According to the various cryptocurrency exchange reviews available online, it appears that the withdrawal fee charged by Mercatox at the rate of 0.0003 BTC is much below the global industry average.
However, the withdrawal fee is different for each cryptocurrency, like for Bitcoin (BTC). The fee ranges between 0.001 to 0.005; for Ethereum (ETH), it is 0.002; for Dogecoin, it is 2; for Litecoin, it is also 0.002; for Dash, it is 0.001. There is no withdrawal fee charged on the platform for OKPAY (in USD) and QIWI (in Rub). However, to get a complete list of Mercatox charges, you are advised to check its official site.
Mercatox Deposit and Withdrawal Methods
Mercatox only accepts cryptocurrency deposits, and thus trading becomes a bit difficult for florida sports betting traders who have not had any cryptocurrency dealings before and therefore do not have any crypto assets held in their wallets. New traders who wish to trade on Mercatox can do that only after buying their first crypto coins from some other cryptocurrency exchange and then using them or selling them on Mercatox. Choose the best crypto wallet for storing your cryptocurrencies.
Mercatox accepts the following cryptocurrency deposits:-
As for the fiat currency deposits, only three fiat currencies are available – US dollars (USD), euros (EUR), and Russian rubles (RUB). Users can deposit any of these by using the following electronic payment methods:-
- Perfect Money
- Yandex Money
Unfortunately, the company does not accept deposits via bank wire transfers or credit cards options.
Mercatox Accepted Payment Method
Mercatox only allows cryptocurrency deposits in Bitcoin, Litecoin, Ethereum, Dash, and Dogecoin. There are no deposit fees, but it does charge withdrawal fees that are different for each of these cryptocurrencies.
Mercatox Supported Cryptocurrencies and Countries
According to a Mercatox review, the platform permits customers from all across the globe to execute a trade. Almost all the countries around the globe can execute a trade on the platform, including the United States, United Kingdom, Australia, Austria, Croatia, Denmark, Greece, Finland, Italy, Ireland, Hungary, Netherlands, Spain, Portugal, Sweden, and many more.
As for the supported cryptocurrencies on the exchange, Mercatox supports over 200 leading cryptocurrencies on their platform. There are over 350 trading pairs available for clients to trade, including the leading ones- Bitcoin, Litecoin, Dash, Ethereum, and Dogecoin. The list of supported cryptocurrencies on the Mercatox platform is as follows:-
- Bitcoin (BTC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Dash (DASH)
- NEO (NEO)
- Ripple (XRP)
- Monero (XMR)
- VeChain (VET)
- Verge (XVG)
Mercatox Mobile App
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.
Mercatox Security & Privacy
There is not much information about the security measures employed by Mercatox, perhaps due to the confidentiality purposes that the exchange intends to undertake. Mercatox differentiates between unverified and verified accounts on its platform. For verified accounts, the platform has kept the withdrawal limits a little higher.
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. In comparison, verified account holders can withdraw up to 5BTC per day.
Is Mercatox Regulated?
No, Mercatox is a florida sports betting cryptocurrency exchange, which is still in its infancy stages and thus is not regulated.
Mercatox Customer Support
According to some Mercatox reviews, the customer support team is not responsive as it should be. However, to cater to the needs of their multi-lingual clientele, the Mercatox exchange has designed its website in 3 different languages – English, Chinese and Russian.
Therefore, clients from varied regions of the world can report to the customer support team via email or through the support center available on the exchange’s website. Also, a dedicated FAQ section has all the common queries of the traders answered in simple and lucid language.
Mercatox Reviews – Customer Support
Mercatox Review: Conclusion
After thorough research, we can conclude that Mercatox is one of the best & multi-functional exchanges for cryptocurrencies that offers its clients more than crypto trading services. It provides its customers the best crypto lending platform, a multicurrency wallet, and a lot of useful payment services like Payeer, Perfect Money, Qiwi, OKPAY, and Yandex Money.
However, as it is a florida sports betting platform that has just begun its operations as a crypto trading exchange, Mercatox has some flaws like slow customer support, limits of withdrawals, lack of proper information on its website, etc. Thus, the platform should look into these matters and work upon these loopholes to add more credibility and gain customers’ trust.
Mercatox Reviews – Mercatox Popularity So Far!
Is Mercatox Safe?
Yes, the platform appears to be safe from the various customer reviews even though it is not regulated under any regulatory authorities.
How Long Does Mercatox Withdrawal Take?
Withdrawals are generally quick on Mercatox, but withdrawals take a little longer than usual if the network is busy.
Is Mercatox a Good Exchange?
Yes, according to the various Mercatox exchange reviews, the platform appears to be a good cryptocurrency trading platform. It offers a wide range of crypto assets along with other services like margin lending, multicurrency wallet, and quick payment services.
Where Is Mercatox Located?
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.
Does Mercatox Require KYC?
No, Mercatox does not require any KYC or AML policies to comply with. The platform allows extensive coin-to-coin trading at a low trading fee of flat 0.25% on all trades.
How Do You Withdraw From Mercatox?
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 type in the exact amount they want to withdraw, paste the wallet address, and click on the ‘Submit’ button.
Is Mercatox a Wallet?
Mercatox is a cryptocurrency exchange that provides a multicurrency wallet to its clients.
How to Use Mercatox?
Using Mercatox is very simple, which only requires the users to create an account on the platform and deposit the requisite initial funds into their account, after which they can trade over 100 available cryptocurrencies on the platform.