The referrers get a percentage of the profits from each trade the referrals make. Mercatox exchange supports an array of payment gateways such as Payeer, OKPAY, Kiwi, Yandex Money, and Perfect Money. In comparison to many other exchanges, Mercatox levies a comparatively low trading cost of 0.25% each deal. Not secure based on previous hacks, limited transparency and updates, and ongoing withdrawal difficulties. While some of these can be ascribed to user error, these complaints are far too widespread and consistent to give confidence that funds can be withdrawn in a quick and accurate manner. However, stringent KYC is required to unlock all features as a “verified” user.
After funding, you are free to trade more than 100 cryptocurrencies. It offers its own wallet which accepts all crypto currencies. It is a hot wallet, meaning your coins are stored with Mercatox.
Users must fill in that form with basic details like email, phone number, and country of residence. You won’t get the full service from Mercatox if you don’t provide the required data. This data includes the full legal name, date of birth, sex, nationality, marital status, ID/passport and its photo, a selfie with documents, telephone number, residential address, and email address. Withdrawals to credit cards require more details including the bank’s written permission.
- You need to log in to the Mercatox website directly to trade.
- To protect the funds of its users, Mercatox has put strong security measures in place, such as two-factor authentication, encryption, and cold storage.
- Mercatox is available in most countries worldwide, including the United States (US), the United Kingdom, and Australia.
- Still to this day cannot pull it out or trade it to another token.
The registered users can also view their transaction history from their order book window. With these advanced tools, Mercatox exchange strives to cover several investment areas and expand its customer base. The Mercatox trading platform is designed for both beginners as well as professionals.
Apart from that, its features are fairly standard and not as refined as the top crypto exchanges we have reviewed. One of the strengths of Mercatox is its wide support for over 500+ digital currencies and highly competitive trading fees. Mercatox is a worthy DEX option but its limitations outweigh its benefits and are better crypto platforms to choose from. Considering the fact that Mercatox is a crypto-to-crypto exchange, it doesn’t have any payment methods except for sending crypto coins straight to the wallet address. 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.
How long does Mercatox Withdrawal take?
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 mercatox exchange reviews registered users, Mercatox has become one of the most talked about cryptocurrency exchanges in recent months. Unlike other crypto exchanges, Mercatox is a multifunctional crypto exchange that offers a lot of crypto trading services. With over 280,000 registered users, Mercatox has become one of the best upcoming crypto exchanges and a perfect medium for crypto traders.
EtoroX Review: Is This the Right Crypto Exchange for You?
By signing up on the exchange, every user gets an affiliate link that can be used to invite friends (or anyone who sees this link) and, in the process, earn money through it. The user will receive a percentage of the profits for every exchange transaction that is made by the referrals. These figures vary depending on the currency to be withdrawn or deposited. The instant withdrawal limit in the BTC equivalent is constant. Verified users can withdraw an amount worth 5 BTC per day while unverified users can withdraw only up to 0.5 BTC worth amounts. As for trading fees, Mercatox is slightly more expensive than most of the other exchanges.
Supported Cryptocurrencies
In the website section called AML KYC, you can read that the company takes AML laws seriously. Users participating in suspicious activity can be denied service. All in all, the loyalty reward program is designed to incentivize recommending the platform to more users.
The exchange provides almost 360 different trading pairs, and you will find all the popular pairs, including Litecoin, Bitcoin, Ethereum, Dogecoin, and Dash. When it comes to unique features, Mercatox’s P2P or peer-to-peer exchange caught my eye. The exchange connects investors with each other and helps users take loans from fellow users. The lending process can help users without an upfront investment get the funds they require. Akin to most other DEX’s, Mercatox does not offer insurance coverage in the event that digital funds and assets are lost. This is one of the downsides of decentralization, as there is no legal entity to assist if a trader runs into issues of lost currency, theft, or fraud.
Where Is Mercatox Located?
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. Thus, the platform should look into these matters and work upon these loopholes to add more credibility and gain customers’ trust. There is not much information about the security measures employed by Mercatox, perhaps due to the confidentiality purposes that the exchange intends to undertake.
Available on Mercatox?
There are 2 types of reward programs offered by Mercatox which provide different privileges to the clients meeting the terms and conditions of each of them. There is also a market order put in place where it represents the buy and sell orders implemented immediately at the present market prices. They take security measures to help safeguard your personal information from unauthorized access and disclosure. Therefore, although they take steps to secure your information, they do not promise, and you should not expect, that your personal information, chats, or other communications will always remain secure. The exchange is launched in 2016 and the company behind it is Mercatox Limited.
My interest piqued when I heard of Mercatox, the crypto exchange making rounds for all the right reasons. It can be difficult for investors or traders to determine which platform best matches their needs. A decentralized crypto exchange (DEX) that has been used widely is Mercatox.
Strong security measures
No, Mercatox is a new cryptocurrency exchange, which is still in its infancy stages and thus is not regulated. This feature allows traders to make money without crypto trading. There are different reports on how long it really takes to withdraw money from Mercatox. Some users claim they withdraw their coins in a matter of seconds while others cannot withdraw for months without clear reason. Unfortunately, the support team of Mercatox is not in a hurry to help such users.
