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. 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.
- Users participating in suspicious activity can be denied service.
- Even if they have obtained the email address and the password, hackers won’t enter the account and won’t steal any coins.
- With verified accounts, the withdrawal limits is higher.
This Mercatox exchange review will provide an extensive guide to crypto investors to understand the platform’s key features and functionalities and its current regulatory status. This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors can’t trade here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here.
Traders on the Mercatox platform get the opportunity to trade multiple crypto coins on the exchange and view prices from both cryptocurrency and e-currency markets. Although the platform offers a wide range of cryptocurrencies, there are several flaws in the system that are making it difficult for the user to comfortably trade on this platform. These flaws include poor customer support, fee, and limits on withdrawals. The fee structure that changes from coin to coin makes it difficult to understand the fee structure of the platform.
Unfortunately, the support team of Mercatox is not in a hurry to help such users. Although the company claims that it respects the KYC and AML regulations, it doesn’t seem that the company itself is regulated or licensed. At least, the website doesn’t mention any significant legal information. Users are obliged to comply with the KYC requirements but the exchange doesn’t even mention its legal address and other data that can be used in court. It doesn’t necessarily mean that the platform is a scam. However, the lack of registration means that the exchange is harder to hold accountable.
Interface & Functionality Review
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. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.
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 must fill in that form with basic details like email, phone number, and country of residence. 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. This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”.
Exchange Fees
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.
Mercatox Exchange Reviews 2024 : Is Safe for Cryptocurrency Trading?
According to a Mercatox review, the platform permits customers from all across the globe to execute a trade. According to user reviews, there is a chance that you won’t be able to withdraw some of your money from Mercatox. We cannot dismiss Mercatox as a fraudulent company only because this platform had a hacking incident in 2018 and has too little available information about security measures.
The platform is not complying with trading standards and regulatory policies. Trading with the unregulated platform would also reduce investor’s potential to get funds from any insurance company. Trading through the unregulated platform is risky and sometimes it could result in big losses. On the negative side, clients have been complaining about withdrawal methods. Several clients complained that the exchange has been taking a long time when we want to withdraw funds.
We recommend investors to use regulated brokers platform such as Coinbase for cryptocurrency trading. 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.
Mercatox Review: Pros and Cons
74% of retail investor accounts lose money when trading CFDs with this provider…. Mercatox allows multiple instant payment gateways like OKPAY, Payeer, Yandex Money, Qiwi, and Perfect money. Choose from hundreds of items and merchants online, and shop from multiple stores in the same order. Schedule delivery when it works for you or pick up in store. Our founder, Bobby, started Mercato to help his father grow his Brooklyn butcher shop. Today, the platform helps hundreds of other independent grocers do what they love and have confidence and ability to thrive in today’s rapidly changing retail landscape.
Mercatox is a centralized cryptocurrency exchange founded in October 2015. By some accounts, this exchange is one of the top 200 cryptocurrency exchanges by trading volume. Mercatox supports numerous cryptocurrencies (over 200 coins which means that some of the currencies can be barely found on other exchanges) and provides a convenient trading interface. The E-Wallet tab contains the Mercatox E-Wallet service. It allows users to send and receive crypto-assets instantly. Moreover, Mercatox users can purchase goods via this wallet.
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. Mercatox mercatoc 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.
Below, there are two boxes — one box is for buying and the other is for selling. One needs to click on Buy or Sell in order to complete the trade. Besides a generic candlestick graph, there are such options as Hollow Candles, Heikin Ashi, Baseline, Area, and Line. Moreover, there’s a rich choice of indicators that can enhance the trading process of experienced customers who know how to use sophisticated analysis tools. Above the charts, one can see the numbers (24-hour change, 24-hour volume, 24-hour peak price, 24-hour bottom price, and so on).
0 Comment