It allows users to send and receive crypto-assets instantly. Moreover, Mercatox users can purchase goods via this wallet. Users can withdraw coins from the exchange to this wallet for free. The deposits made via this wallet are also free of charge. Business owners can use the Mercatox wallet to accept payments through the integration of the wallet into the business website. The exchange also imposes a different restriction on verified and unverified accounts.
By verifying the account the user gains access to withdrawals of up to 5 BTC in 24 hours. Enabling 2-factor authentication is probably the most important step to protect the account from hacking. If one needs the opportunity to withdraw over 1 BTC per day, she/he should submit personal information to verify the account.
The exchange allows users who have not verified their accounts to trade, deposit, and withdraw funds, too. There one can make money without trading by lending assets to interested individuals at an interest. Also, the Lending feature might be useful to get extra money for margin trading.
How long does it take to withdraw from Mercatox?
All other exchanges I’ve used tell you to deduct it before the transaction takes place. I have my ETH coins stuck on the Mercatox exchange now for 3-days; customer service is SPARSE to say the least. Be crafull it’s a scam exchange even the cryptocurrencies inside all are fake, if you deposit any amount you will never withdraw it and they will eat it all. One thing that I know that on this exchange prohibited double accounts. So I think if stick to their rules everything will be ok. The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders.
It is however stated that the use of the service can be prohibited in certain countries due to cryptocurrency-related laws. So it’s up to users to check if they can actually use Mercatox. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase. All users can trade without restriction of limits, regardless of KYC status or not.
Binance also offers a more extensive web and ecosystem of products, support, and liquidity, especially given its larger daily volume as compared to Mercatox. Binance is the most popular and well-known futures market in the global cryptocurrency industry and well-known for its extensive futures pairs. Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will prefer FTX since Mercatox offers only minimal margin trading options. Trading fees are 0.25% for both market makers and market takers . There are no incentives or tiers based on trading volume, unlike at many other exchanges. Thus, Mercatox may be an exchange best suited for accessing rare coins that US exchanges do not allow, such as XRP, trading in small amounts, or for international users who have limited availability in exchange choices.
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. 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.
Almost all countries from all over the world are allowed to trade with Mercatox including the USA, UK, Hungary, Netherlands, Spain, Portugal, Denmark, Greece, Finland, Italy, Ireland, Austria, Sweden, Croatia, and more. According to the website of Mercatox, it is planning to provide not just a service with different abilities, but create a new financial market in the digital world. Choose your favorite trading pair in the top right corner of the trading interface. The fastest way for day traders to trade without automation. Increase the size of your positions and access more trading capital with margin orders.
Besides cryptocurrency trading, Mercatox offers several other services to its clients such as lending platform and payment services. Ercatox is a cryptocurrency platform aimed at providing a wide range of crypto financial services from trading, to lending, to wallets, to payment systems. Their platform was created all the way back in 2016 and is available to users all around the world. However, unverified accounts may still make BTC withdrawals limited to 0.5 BTC per 24H period. Mercatox web-based platform can be easily customized, so traders can quickly get their order type, cryptocurrency price, and the amount of trade they want to execute.
Another disadvantage depending on the user’s perspective may be the exchange’s lack of regulatory compliance, clear location, or adherence to KYC/AML procedures that are standard across centralized exchanges today. The fees for trading are also quite high at 0.25%, irrespective of volume or maker-taker status, which means that liquidity providers and higher volume traders are not incentivized. In addition, it is one of the few centralized exchanges on the market today that does not have a public team, especially on its LinkedIn page.
How to start trading on Mercatox.Com?
The chat room is another interesting feature that we don’t see very often and it gives a good sense of community among all traders online on the platform. 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. Also, there are a plethora of obscure coins that can be found, and this is one of the biggest sources of criticism for the exchange with many of the tokens dubbed useless by the platform users.
- Customer service is set in place with different ways to get in touch.
- It would perhaps be more aptly named notifications as all the content is about newly listed assets.
- Nevertheless, unverified accounts can still make BTC withdrawals limited to 0.5 BTC per day.
- Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers.
- Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.
As three of its advantages, the exchange states that it has low fees, a loyalty program and an affiliate program. We will go into more detail on the fees below , but we can already here say that the fees are not low. I tried to buy some crypto and withdraw, but their instructions are none. They say there is a fee, but what they don’t tell you is that you should withdraw the whole amount and they will deduct the fee in the transaction.
However, the platform collects the same 0.25% fee from the market makers and market takers. Besides offering a robust multicurrency e-wallet, Mercatox also offers many other services, such as margin trading. It also allows different payment services such as OKPAY, Payeer, Yandex Money, etc., allowing people to invest in different digital currencies. Mercatox is a peer-to-peer crypto trading platform with half a million users worldwide. The trading platform allows traders to access different currency pairs and a robust multicurrency e-wallet.
But, Mercatox does not support automatic convert feature. With over 200+ listed cryptocurrencies, the broker applies 0.25% as a transaction fee. So let’s say that you have mercatox review a new favorite coin that you want to trade but can’t because it’s not out on the market yet. This is another area where Mercatox stands out among other similar platforms.
How long does it take to withdraw money from Mercatox?
On the top bar, one should click on the TRADE icon and start trading. On the right side, there are https://forex-review.net/ various trading pairs displayed. On the left, there is a chart of the pairs to choose from.
More than that, there is no such a feature as buying cryptocurrency for fiat money via bank card, PayPal, or other methods like on many top crypto exchanges. Mercatox aims to offer a modern service for trading and exchange of more than 100 cryptocurrencies. Mercatox plans to allow traders to get funds for margin trading along with providing sources to invest and earn income on the loan. It is seeking to offer P2P lending facilities in the coming days. It also offers E-wallet for commercial and personal use.
Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. Mercatox is a cryptocurrencies exchange that combines automated trading, payment service, peer-to-peer sharing based on smart contracts.
Traders can view prices from both the e-currency market and the cryptocurrency markets. If you scroll to the bottom of the Mercatox homepage, you’ll notice a statistics tab that redirects you to a page with all their supported pairs, their prices, trading volume, and a couple other data points. The name statistics is a bit misleading as it’s really just a generic price page offering the same statistics as pretty much any other platform’s price page. Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will prefer Binance.
There is no excuse not to allow me to withdraw my traded funds. Mercatox is a cryptocurrency exchange that provides a multicurrency wallet to its clients. 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 vs Coinbase
Overall, the wallet is pretty well put together and easy to use, but also fairly standard within the industry. Only crypto asset deposits allowed, no deposit fees listed. Minimum deposit amounts apply and are listed here in the middle column. Since Mercatox does not allow any fiat deposits, it may not be suited for new cryptocurrency users, as users would have to first obtain cryptocurrency elsewhere to send to Mercatox. The main disadvantages of Mercatox are that its exchange services and offerings outside of its moderate range of coins are quite limited. Users will not find any advanced or complex crypto financial services here, or even basic ones such as staking.
Market makers enjoy reduced fees at Kraken whereas at Mercatox they pay the same fee rates as market takers, plus Kraken offers volume incentives as well. Coinbase also offers about 2x the selection of trading pairs as is offered at Mercatox, with 440 trading pairs, compared to 200+ at Mercatox. Unlike many other top exchanges, Mercatox does not make clear what other security precautions they take to protect user funds. The extent of their security recommendations by their support staff may be found here.
While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw. There is no option to buy coins with fiat money on the exchange. To start trading you first need to deposit Bitcoin and choose the altcoin you want to trade.