A chatroom (troll box) is presented and is indicative of an older-style platform but it doesn’t exude the level of professionalism that the major exchanges provide. This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Unfortunately, the company does not accept deposits via bank wire transfers or credit card options.
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. These are basic order types and will satisfy the needs of most traders. You can gain such bonuses — which are undisclosed and will be “updated on a regular basis” according to the company webpage on the matter — by referring other people to the website.
- In the past, there were payment gateways that were allowing users to buy crypto coins or deposit fiat money.
- With all these advanced features, the Mercatox trading platform seeks to cover multiple investments to expand its customer base.
- Mercatox boasts support for the majority of well-established projects (Bitcoin, Ethereum, XRP) as well as lesser-known assets like Golem, Curium, and Zenon.
- Kraken offers a large variety of cryptocurrencies and pairs (over 90 coins, over 400 pairs), so users who value a large selection and advanced traders who seek regulated margin will prefer Kraken by far.
- To do this, it is allowed to raise any amount of funds and use the option of margin trading.
- The security measures the broker is applying to maintain the safety of the information on the accounts aren’t disclosed perhaps due to confidentiality reasons.
However, since KYC verifications are important for Anti-Money Laundering measures, I recommend all readers fill out the details before starting. Even Mercatox realizes the importance and asks users to fill up the form to increase their withdrawal limits. Mercatox has been operating since 2016 and features IP address whitelisting as well as 2-factor authentication.
Mercatox also offers an affiliate and loyalty program to users, as well as a portal to check statistics such as top gainers, losers, and volume on its offerings. So let’s say that you have 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. You can actively vote for new coins that are getting released on the platform. Simply head to their voting page and vote for the coin that you think will be the biggest gainer of the year. To protect the funds of its users, Mercatox has put strong security measures in place, such as two-factor authentication, encryption, and cold storage.
This information is general in nature and is for education purposes only. HedgewithCrypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries. We may receive compensation from our partners if you visit their website. In order to find exchanges that accept deposits of fiat currencies, use our Exchange Finder here. The number of crypto-assets on the platform is constantly increasing.
Conclusion: Mercatox Review
There is a popular cryptocurrency wallet My Wallet, which is convenient for quick deposits and withdrawals. There is no work with fiat currencies yet, but the creators of the site are already thinking about changing the policy of the exchange on this issue. The service charges a very modest fee for services, its size is always the same, regardless of the volume of funds transactions. The administration is responsible to the security of the service, so it offers users a two-factor authentication and verification. Those who are against the identification procedure can do without it, but in this case, you have to limit your withdrawals to 0.5 Bits per day (How to make money on bitcoin?).
Mercatox KYC and Verification Process: Does Mercatox Require KYC?
The only real difference is that instead of sending funds to Mercatox, they would rather be sent to the user’s crypto wallet. Unverified accounts will have a daily 1 BTC withdrawal limit, while verified accounts can withdraw up to 5 BTC. Mercatox does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one). However, they do encourage users to turn on two-factor authentication to increase the safety of their accounts.
Electronic payment gateways for dollars, rubles or Euros are listed as Yandex, Qiwi, Perfect, OKPAY and Payeer. Built-in e-wallet, simple trading fee structure, margin trading, and availability in nearly every country (where legal) makes it a fair entry point. Mercatox also has various withdrawal fees such as ~0.0004 BTC, 0.008 ETH, and 50 DOGE. Among brokers that charge withdrawals fees, these are pretty standard rates, but there are brokers (like FTX) that don’t charge anything unless it’s an ERC-20 token, so it still isn’t ideal. Their wallet also has an API integration for users to accept payments on their website, which is somewhat unique but not quite as intuitive or smoothly executed as something like FTX pay. Overall, the wallet is pretty well put together and easy to use, but also fairly standard within the industry.
Top 5 Exchanges
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 mercatox exchange reviews always remain secure. The exchange is launched in 2016 and the company behind it is Mercatox Limited. The firm operating the site and the brand is headquartered in London, UK.
Lending Program
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.
Users can earn points to reduced trading fees, earn extra affiliate payments, and even higher annual interest yields on assets held on Mercatox. HedgewithCrypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website.
Binance tracks the actual price thousand of traders are willing to pay at any time. Mercatox doesn’t, because hardly anyone is trading on the platform. Another red flag is that Mercatox’s trading platform is about as outdated as a crypto trading platform could be.
The same goes to efforts to reach out to the support agents via official social media pages of Mercatox. Unlike other exchanges that don’t set limits on minimum and maximum amounts, Mercatox imposes restriction regarding the amount. They have set minimum deposit level which differs from crypto to crypto. This site was created for people interested in learning digital options, cryptocurrencies, Forex, CFD, ETF, OTN, and ICO and, of course, how not to fall for the bait of unscrupulous trading platforms. Here you can find a lot of useful information about brokers, strategies, and the latest news from the world of online investment possibilities and many other interesting topics. You can trade crypto to crypto, and you can only deposit and withdraw crypto.
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. 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.