MERCATOX Review 2022 Accepted Countries, Payment Methods, Coins & User Reviewsmasterweb
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. 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. Since the broker is new and deals in cryptocurrencies too, meaning to get regulation in such baby stages is both rare and tough to be accomplished considering the strict rules applied by the regulators to be kept and maintained.
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. 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.
This type of exchange is perfect for more experienced people who are willing to take more risks on cryptos with a higher pump potential. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here. Mercatox could go bankrupt from one day to another since there are no banking information about this broker. The process to verify an account requires KYC procedures that involve the verification of ID, selfie, and other identifying features. You should be aware, that all its social media accounts are only news channels, it never uses it for communication.
- In this Mercatox review, we discussed that Mercatox is a London-based exchange with a wide range of cryptocurrencies traded with reasonable trading fees.
- They still have a handful of assets paired with stablecoins, but depending on the assets you like to trade, you may have to execute multiple trades if your unit of account is not Bitcoin or Ethereum.
- 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.
- There aren’t any articles, and all the updates are just a sentence or two explaining what new market or swap feature was added.
To cater to their multi-lingual clientele, Mercatox has made its website available in 3 different languages, English, Russian and Chinese. For the customer support service, you can reach out to the support team through email or through the support center. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation.
Mercatox it a scam
Users can withdraw from the wallet by navigating to the “My Wallet” section in the E-Wallet or My Account page, selecting their virtual currency, and then selecting the “Withdrawal” button. Unfortunately, the company does not offer bank wire transfer and credit cards options. There is also a market order put in place where it represents the buy and sell orders implemented immediately at the present market prices.
As for customer support, Mercatox offers a support service centers customers can access via logging in and submitting aticket. Mercatox is a cryptocurrency exchange launched in 2016 that is based in the UK. To date, the exchange claims to have over 600K users worldwide and is listed as a top 100 exchange on CoinMarketCap.
For withdrawals, nothing easier, just enter the address of the wallet where you want to send your tokens, be careful if you send an altcoin, to check that it is present on the platform. 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.
The wallet allows you to store the crypto coins that you’ve bought from the broker and hold them in the wallet until they’re sold. Mercatox charges a 0.25% fee per trade to both its buyers and sellers. Which is quite reasonable considering that resembles the average in the market.
Coinbase, on the other hand, works according to regulators policies. It holds trader’s funds in a separate account to increase the safety. Mercatox.com needs to review the security of your connection before proceeding. It was good relationship until i started withdrawal to put in my nono hardware wallet, they restricted me to 50 coins per day. I have submitted all necessary info and have not be able to get an increase in daily withdrawal.
Customer Support on Mercatox
The exchange reached an advertised 600K users in 2019 and the users had executed an aggregate of 17M deals worth a total of 651K BTC. As of 2022, Mercatox sees around $24M in daily average trading volume, according to CoinMarketCap. With over 200+ listed cryptocurrencies, the broker applies 0.25% as a transaction fee. Mercatox is a cryptocurrencies exchange that combines automated trading, payment service, peer-to-peer sharing based on smart contracts. Mercatox exchange is located in the United Kingdom; however, users worldwide can access the exchange.
Learn more about this cryptocurrency platform by reading our complete Mercatox review. Kraken uses a maker-taker fee schedule, starting at 0.16% maker fees and 0.26% taker fees at the entry level which is already more competitive even at the entry volume tier level than Mercatox’s flat fee structure at 0.25% for both makers and takers. 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.
I’ve been trying to withdraw for weeks now, NO ABSOLUTE LUCK. The transaction was pending indefinitely and my crypto was gone in a jiffy. The worst thing is that you can’t find any open transaction in the dashboard in order to cancel. Poor support not answering.Also fake volume,just https://forex-review.net/ check LTC/BTC pair and you will see that nobody didnt putted those buy orders and sell orders but there is still trades at those prices ,their stuff is buying from themself to pump daily volume. To connect to Mercatox, the platform has two integrated functions that you can activate.
Is Mercatox Customer Support reliable?
Mercatox notes a difference between verified and unverified accounts. 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.
This order type immediately converts into a market order after achieving the current market price at a specified rate. As with any asset, the values of digital currencies may fluctuate significantly. Few years ago im try using this exchange is on 2019, no isue on those time then now feb 2021 started to use again.
Mercatox Deposit Tools
74% of retail investor accounts lose money when trading CFDs with this provider. 68% of retail investor accounts lose money when trading CFDs with this provider. The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders. In short, it’s a platform with a lot of problems and will certainly struggle to compete with any major mercatox exchange reviews exchange, centralized or otherwise. It’s possible they keep improving their services, but considering they’ve been around since 2016, it’s hard to imagine the improvements in the next year will be that much of a change. Mercatox offers a hundred different cryptocurrencies, however, more than half do not offer a very large volume, or even a zero volume.
What types of cryptocurrencies does Mercatox offer for trading?
Mercatox and Gemini can be compared in the scope of their offerings, but Mercatox offers even less crypto financial services than Gemini. International users who can use FTX International may prefer FTX for these reasons over Mercatox. Fees are far more competitive at FTX, since FTX offers both fee incentives for volume and for holders of its FTT token, so fees can easily reach 0.10% or lower at FTX . Coinbase also offers about 2x the selection of trading pairs as is offered at Mercatox, with 440 trading pairs, compared to 200+ at Mercatox. 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. 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.
Hi All, I withdraw my eth 48 hours back but ETH but still they didn’t process my withdrawal yet. Mercatox also has a support email you can reach out to if the support center isn’t helping. You can email them directly or create a support ticket from within the support center. It would be nice to see a pop-up window added for support like you see with most platforms, but the email/support ticket is close to the same thing. The second option is “Authentication by email” to receive a confirmation email with a secure link to connect to the platform. For deposits, there is no limit to the amount you can send to Mercatox.
Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why your funds are not safe with Mercatox. Then, fill in the details of the withdrawal including toggling the correct currency and be sure to include a tag or memo if needed. All users can trade without restriction of limits, regardless of KYC status or not. Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while US users can also use Mercatox but it is not regulated nor can be deemed as entirely trustworthy. Mercatox has noted some past attempts to hack user accounts by third parties and encourages users to use strong passwords and opt for 2-FA to prevent hacking.
Choose the best crypto wallet for storing your cryptocurrencies. 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. 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.
There’s also 0.25% per transaction on the exchange, which makes the trading fees with Mercatox competitive and reasonable. The trading process here deals mainly with crypts and their different types and form. Not all investors deal with cryptocurrencies as they might have some uncertainties and questioning regarding their formation of it, yet the traders who deal with cryptos seem to have fast and easy transaction processing, anytime anywhere.
While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw. 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. We have listed above their minimum deposit requirement related to each coin.