Choosing the right crypto trading platform is important in maximizing the returns from the volatile digital currency markets, which is what this Mercatox review aims to do. 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. It seems that Mercatox had a good start but weakened its positions at some point.
- Before utilising Mercatox or any other exchange, consumers should do their own research and think about their risk tolerance, just as with any other cryptocurrency exchange.
- There are no other perks or services that are offered, but a unique feature on the exchange page itself is a chatbox.
- The exchange is launched in 2016 and the company behind it is Mercatox Limited.
- The crypto you purchased may take days or even months to show up in your account, and in some cases, it may never show up.
Although Mercatox has its drawbacks, its user-friendly layout makes it accessible to both new and seasoned traders. More than 200 cryptocurrencies and 700 trading pairs are advertised, less are listed. Highest volumes appear for ETH, LTC, TRX, EOS, BTC, XDC and XNO.
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Simply put, US users may prefer Kraken for its regulatory compliance and strong track record that make Kraken one of the best and most highly reputed exchanges on the market. No fiat withdrawals are allowed, but electronic withdrawals are accepted with the same deposit methods. Withdrawal to personal wallets is free, but any other type of withdrawal contains fees based on each currency or electronic payment method, available here. Overall, what Mercatox is attempting to create is a cryptocurrency marketplace that is able to meet the diverse needs of its clients. As to whether the exchange will be successful with its endeavor in the future, only time will tell.
The platform only updates when there is trading activity, and as discussed in the Trading Conditions section, very few transactions ever go through. Note the high and low price for this day was a high of 26,442 and a low of 22,235. While monitoring the platform for a couple hours, the prices never changed, the bids and offers didn’t change. This is no “Level II” showing where all the current bids and offers are (and their volume), only the highest bid and offer are shown. Some of the coins on this list have no trading activity for a long time, showing at this list (provided by Mercatox on their website) likely hasn’t been updated in years. Mercatox meanwhile keeps a flat 0.25% with no incentives to reduce this.
Switching Between Currencies and Blockchains
Overall, the Mercatox trading interface is outdated and clunky, and it doesn’t appear that it is an area of investment for the company. Simply put, active traders have a lot better trading interfaces to choose from that provide much more streamlined and modern user experiences. Lacking the ability is buy crypto using fiat is a significant disadvantage to any exchange.
Business owners can use the Mercatox wallet to accept payments through the integration of the wallet into the business website. Mercatox aims to offer a modern service for trading mercatox exchange reviews 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.
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.
The broker is offering as well the limit order service which can tell the clients, who have set up this service, about the maximum price of cryptocurrencies to buy or the lowest price to sell. However, the UK financial watchdog did not provide a definite regulation for the crypto-exchanges. This is currently the most common case of cryptocurrency exchanges worldwide. However, investors should also be aware that there are many blockchain themed fraud schemes. The broker seeks to attract clients from all over the globe with a specialty in crypto trading and special features presented.
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Other than being user-friendly, it is also available in languages such as Russian, English, and Chinese. Mercatox exchange users can not only view prices from the cryptocurrency markets but also from e-currency markets. Mercatox is a cryptocurrency exchange that provides a large selection of cryptocurrencies, affordable trading costs, and sophisticated trading tools. Both novice and professional traders can utilise it because of its high liquidity and user-friendly interface. The exchange does, however, have several drawbacks, such as poor customer service, conceivable security and regulatory problems, constrained payment alternatives, and constrained trading pairs. Before utilising Mercatox or any other exchange, consumers should do their own research and think about their risk tolerance, just as with any other cryptocurrency exchange.
Mercatox allows multiple instant payment gateways like OKPAY, Payeer, Yandex Money, Qiwi, and Perfect money. Please note that your feedback may be crucial for the user when choosing a product, so try to avoid inaccuracies and unreasonable criticism. In general, the Mercatox user community is quite active in the comment section of the Mercatox Twitter account and it’s safe to say that most of them are loyal to the platform.
It means that on the other side of things you can be a lender. As the cryptocurrency sphere is still attractive for all kinds of scammers, we have to be cautious when choosing the trading platform. Before using exchange we should make sure that it provides a decent level of security and is not involved in any fraudulent schemes. Trading itself is a risky business, so we can’t afford to increase these risks by trusting the shady platforms. In the following review, we will try to answer these vital questions.
It goes against our guidelines to offer incentives for reviews. Bought coin Aeternity over 2 years ago.Wanted to withdraw but coin put into maintenance.Same response to submitted ticket. 2 years Aeternity token in maintenance.FRAUDSTERS DO NOT USE THIS EXCHANGE. Each trader must make their own decision on who they want to trade with. There is nothing that makes Mercatox better than its competitors, and as we’ve seen, there is a long list of reasons why it is worse.
Instead, you fund your Mercatox’s account using cryptocurrencies. Mercatox provides its clients with a multicurrency wallet with the following type of digital currencies below. The platform offers a basic trading UI alongside a massive suite of digital currencies.
For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. 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.