It provides its customers with the best crypto lending platform, a multicurrency wallet, and a lot of useful payment services like Payeer, Perfect Money, Qiwi, OKPAY, and Yandex Money. It grew to provide support for many cryptocurrencies without the need for KYC, and even offers margin trading access. Mercatox is not regulated in any jurisdiction and therefore does not deal with any fiat deposits or withdrawals.
- For the verified account holders, they can withdraw up to the equivalent of 5BTC per day.
- Settlement will begin after the exchange passes the break-even point.
- Still, Mercatox is a scam, a scam or a reliable crypto exchangewhich can carry out profitable trading operations, working with any cryptocurrency?
- The first one is the email account verification log in where you have to confirm your email address every time your log into your account.
- Those who intend to engage in full-fledged trading should verify the account, because it will increase safety of funds (How to Make Money on Cryptocurrency?).
It is also necessary to take into account the fact that the document may change from time to time and these changes will take effect as soon as they are posted on the company’s website. Instructions for withdrawing from users accounts can be found here from official support. For crypto withdrawals, on average, it takes from 30 minutes to several hours for a transaction to be confirmed. Your withdrawal will be confirmed by blockchain network first. After the confirmation complete, the withdrawal will be automatically funded to your destination wallet address. Mercatox and Gemini can be compared in the scope of their offerings, but Mercatox offers even less crypto financial services than Gemini.
Security Measures
It’s up to you to decide if you can or cannot trust the platform after everything you learn about it. There is also an option of getting help through voice calls and by writing to the customer support through the website’s social media accounts, including Facebook, Twitter, and Telegram. On the top bar, one should click on the TRADE icon and start trading.
You will incur a transaction fee for withdrawals and this varies across the board. However, it is now possible to access over 700 different crypto trading pairs. Thus, there is ample opportunity for novice, as well as professional, traders. 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. Among negative customer reviews, withdrawal difficulty leads the list.
Final Thoughts on Mercatox Review
With Mercatox located in the UK, the exchange is naturally available to residents of the country. In fact, Mercatox aims to continue expanding the countries in which its services are available. The value of digital currencies can go up or down frequently…. As with any asset, the values of digital currencies may fluctuate significantly….
Best Mercatox Alternatives
They execute granted personal data security and protection according to generally accepted practice data protection in the Internet community. 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%).
In the upper part of the website, there is a menu with 3 tabs (Trade, Lending, and E-Wallet). One can directly contact the exchange to see the full list of supported countries. Withdrawals are generally quick on Mercatox, but withdrawals take a little longer than usual if the network is busy. You should be aware, that all its social media accounts are only news channels, it never uses it for communication.
This exchange shouldn’t be used!!
In addition to this, there is an elaborate list of withdrawal fees for each cryptocurrency. However, being spoilt for choice can sometimes overwhelm you as you start out your trading journey. Mercatox has created an in-house trading platform which tracks cryptocurrency markets and provides you with real-time updates. There are several new features that have been included on the site.
Long wait times, failed confirmations, frozen funds due to “maintenance” and even sending crypto to the wrong address are among those that we encountered across many comment sections. Deposits are limited to crypto only, no fiat bank options are available, nor is PayPal. There is no fee for deposits, but there are minimum amounts required depending on each cryptocurrency, which you can search here. During my experience, I found Mercatox to be a decent crypto exchange. It provides reasonable trading options for crypto traders and has been operational since 2016.
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 mercatoc also on 0.25%. On the surface, this may seem adequate, but users of the exchange have repeatedly stated that they received heavily delayed assistance or, worse yet, have yet to receive a response.
Conclusion: Mercatox Review
We continue to bring you the latest in online trading so that you are always prepared. There are plenty of trading options when you look at the best online brokers in the UK. Certain sites will specialise in one asset class while others tend to provide diversified options. All in all, we recommend that you read our online trading reviews here at Strafe.com to find the best platform for your trading interests. Once again, we must commend Mercatox for designing an exchange platform which opts for practically. However, our Mercatox review UK is quite pleased with the accessibility and ease-of-use.
Whilst it is not as cheap as UniSwap (0.05% – 1% fees) or Binance (0.1% fees), Mercatox’s trading fees still beat a lot of popular crypto exchanges and it provides some value for money. Naturally, its trading platform is the primary focus of the Mercatox cryptocurrency exchange. With support for over 500 different cryptocurrencies, users have more than enough assets for trading and diversification. For anyone wishing to earn money from crypto without investing or trading, Mercatox offers an affiliate program allowing people to promote Mercatox to earn crypto. Anyone with a Mercatox account can share a unique affiliate link with others to earn fee-based rewards. If a user signs up using one of these links, the affiliate will receive 15% of the newly referred user’s trading fees.
The common goal of the team behind the exchange is to deliver fast and easy-to-access crypto trading to the global crypto scene, something that they have managed to grow since back in 2016. 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.
