Mercatox Crypto Exchange Review 2023 : Pros & Cons

What Is Crypto Exchange ?

A cryptocurrency exchange, also known as a crypto exchange, is a digital platform that allows users to buy, sell, and trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others for other cryptocurrencies or fiat money such as US dollars or euros.

A cryptocurrency exchange operates in the same way that a regular stock market does, allowing buyers and sellers to swap securities. Users on a crypto exchange, on the other hand, trade digital currencies rather than stocks.

To facilitate trades, cryptocurrency exchanges provide a variety of trading pairs as well as features such as market and limit orders, stop-loss orders, and other trading tools. Some exchanges additionally offer other services such as digital wallets for storing cryptocurrency and real-time market data.

Crypto exchanges are classified into three types: centralized exchanges, decentralized exchanges, and peer-to-peer exchanges. Each has its own set of features and perks, but they all allow users to have access to and participate in the bitcoin market.

What Is Mercatox Crypto Exchange ?

Mercatox story began in 2016 when the development of Cryptocurrency grew rapidly and started to be known by the public. Mercatox came as one of a big cryptocurrency exchange as the answer for the people who want to trade cryptocurrency. Being a modern service for accessing the cryptocurrency exchange market which can be used by all trader levels – Beginner to Professional. with its 600,000+ users has been listed on Coin market cap as the one of top 100 exchange – per November 2019 and hope we can further be developed with various future development plans.

Mercatox Crypto Exchange Quick Facts

How To Register At Mercatox Exchange?

To register on Mercatox , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

Mercatox Exchange Supported Countries

Mercatox Exchange is a cryptocurrency exchange that supports users from various countries around the world. However, the availability of services may vary depending on the location of the user.

Exceptions are the US, China, Japan and countries in the Middle East. Syria and North Korea are also countries whose nationals cannot trade on Mercatox .

How To Verify Your Mercatox Cryptocurrency Account ?

There is no mandatory verification at Mercatox , but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Mercatox , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Mercatox Crypto Exchange?

There are two main options for topping up your balance on Mercatox . Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Mercatox Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Mercatox Account ?

There are several steps you can take to help secure your Mercatox account and protect your funds:

1. Make a Robust Password: Make your password unique and difficult by combining upper and lower case letters, numbers, and special characters. Avoid using information that is easily guessed, such as your name or common words.
2. Turn on Two-Factor Authentication (2FA): Mercatox provides 2FA via Google Authenticator or email. To add an extra degree of security, enable this option. Even if someone discovers your password, they will be unable to access your account unless the second authentication factor is used.
3. Make use of a secure email address: Make sure your Mercatox email account is password-protected and 2FA enabled. This is critical since password reset requests are frequently made to your email address, and an unsecured email account might jeopardize your security.
4. Avoid Phishing Scams: Be wary of phishing emails and websites impersonating Mercatox. Before checking in or supplying critical information, always double-check the website’s URL.
5. Keep Your Password Up to Date: Change your Mercatox password on a regular basis to reduce the danger of illegal access. Use different passwords for different websites.
6. Check Withdrawal Addresses: Before making any bitcoin transfers, double-check the withdrawal addresses. Scammers may try to substitute their own addresses for real ones.
7. By taking these steps, you can help protect your Mercatox account and reduce the risk of unauthorized access to your funds.

Fees taken when buying virtual currency

Mercatox Trading fees

Every transaction involves two parties: the maker, whose order was previously on the order book, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so termed because their orders provide market liquidity. Takers eliminate this liquidity by matching manufacturers’ orders with their own.

This exchange does not levy separate fees for takers and manufacturers. Their cost structure is referred to as a “flat fee model.” The flat trading cost is set at 0.25%. This is in line with the industry average, which is presumably also at 0.25%.

Mercatox Withdrawal fees

When you withdraw BTC, Mercatox charges a withdrawal fee of between 0.0003 BTC and 0.005 BTC, depending on how quickly you need the withdrawal to be processed. If you pay more, the transaction will be given higher priority; if you pay less, the transaction will be given normal priority and may take a few days. 0.0003 BTC is less than the industry standard.

Deposit Methods

This cryptocurrency exchange does not accept any other deposit method besides cryptocurrencies, therefore novice crypto investors cannot trade here. If you don’t have any crypto but want to start trading here, you’ll need to first buy some from another exchange and then deposit them here.

Trade On Go Mercatox Is 100% Mobile Friendly

Trade On Go Mercatox is a cryptocurrency exchange platform with an exceptional level of mobile friendliness, offering a flawless trading experience for customers on smartphones and tablets. The platform has been built and tuned to work with different screen sizes and touch interfaces, making it extremely user-friendly on mobile devices.

The user interface is simple and responsive, allowing traders to easily place orders, analyze market trends, and manage their portfolios from the palm of their hand. Mercatox also offers a mobile app for both Android and iOS, boosting accessibility and convenience for traders on the go.

How To Contact Mercatox Customer Support Team?

If you need help with your Mercatox account or have any questions, you can contact Mercatox customer support through the following methods:

Please visit the Mercatox website: Navigate to the official Mercatox website in your computer browser. To avoid phishing sites, make sure you’re using the correct URL.

Email: You can send an email to support@Mercatox . Be sure to provide as much detail as possible about your issue or question.

Phone: Mercatox also has a phone support line that you can call. The phone number for customer support

Social Media: You can reach out to Mercatox on their social media channels like Twitter, Facebook, or Telegram to get help.

No matter which method you choose, be sure to provide as much detail as possible about your issue or question so that Mercatox customer support can assist you efficiently.

Features Of Mercatox Crypto Exchange

Wide Range of Cryptocurrencies

Mercatox featured a wide range of cryptocurrencies, letting users to trade prominent coins such as Bitcoin (BTC), Ethereum (ETH), and several altcoins.

Trading pairings

It offered a variety of trading pairings that allowed customers to exchange one cryptocurrency for another. For example, BTC/ETH, ETH/USDT, and so on.

User-Friendly Interface:

Mercatox wanted to provide a platform that was simple to use for both novice and expert traders. It usually had a simple trading interface with trading charts, order book data, and other analytical tools.

Security Measures

To help protect users’ accounts and assets, the exchange often incorporates security features such as two-factor authentication (2FA).

Wallet Services

Mercatox primarily provided wallet services for several cryptocurrencies, allowing customers to keep their digital assets on the platform.

Staking and Lending

Some exchanges, including Mercatox, had staking and lending capabilities, which let users to earn interest or prizes by holding and lending their bitcoins.

Fees

Mercatox charged fees for trading and withdrawals. Fee charges fluctuated according to the trading pair and the user’s trading volume.

Mercatox Good Or Bad Points

Mercatox is a cryptocurrency exchange that allows users to buy and sell various cryptocurrencies. Here are some potential good and bad points of using Mercatox :

Good points:

1. Cryptocurrency Variety: Mercatox provided a diverse choice of cryptocurrencies for trade. This variety can be useful if you want to trade or invest in lesser-known or newer cryptocurrencies.
2. User Interface: Some users regarded Mercatox’s user interface to be intuitive and simple to use. This is vital for both new and seasoned traders.
3. Security: Cryptocurrency exchanges must emphasize security, and Mercatox claims to apply a variety of security measures to secure users’ cash.
4. Liquidity: The liquidity of an exchange can impact your ability to buy or sell cryptocurrencies at the desired price. Higher liquidity exchanges often provide better opportunities for trading.

Bad points:

1. Lack of Regulation: Many cryptocurrency exchanges, including Mercatox, operate in a regulatory gray area. Users may face risks as a result of a lack of regulation, such as potential security vulnerabilities and a lack of consumer protections.
2. Customer Service: Some consumers experienced concerns with Mercatox’s customer service, such as sluggish response times or trouble resolving issues.
3. Withdrawal restrictions and Fees: Mercatox, like many other exchanges, had withdrawal restrictions and fees that varied depending on the cryptocurrency and the user’s verification level. High withdrawal fees or withdrawal limits might be inconvenient.
4. Security Concerns: Hackers frequently target cryptocurrency exchanges, and there have been allegations of security breaches at numerous exchanges. Before using an exchange, it is critical to investigate their security measures and track record.
5. Changes in the Regulatory climate: The regulatory climate for cryptocurrency exchanges can change quickly. This can have an influence on the operations and services of an exchange, thereby hurting users.

Is Mercatox Is Safe Platform To Trade ?

Mercatox is a cryptocurrency exchange platform that allows users to buy, sell, and trade various cryptocurrencies. While no exchange can guarantee 100% safety, Mercatox has implemented various security measures to help protect its users’ funds.

For example, Mercatox stores the majority of its users’ funds in cold wallets, which are offline and not accessible through the internet. This makes it much more difficult for hackers to steal funds. Mercatox also uses two-factor authentication (2FA) to provide an extra layer of security for users’ accounts.

However, it’s important to note that no exchange can guarantee complete safety, and there is always some risk involved in trading cryptocurrencies. It’s essential to do your research, understand the risks, and take appropriate security measures to protect your assets.

In summary, Mercatox has taken several measures to enhance security, but it’s still important to be cautious and do your due diligence before trading on any platform.

Mercatox Conclusion

Mercatox is a reliable and user-friendly cryptocurrency exchange that provides a range of features to traders and investors. Its low trading fees, staking options, and security measures make it an attractive option for those looking to buy, sell, or hold cryptocurrencies. Additionally, its affiliate program and community engagement offer additional opportunities for users to earn rewards and connect with like-minded individuals. Whether you’re a beginner or an experienced trader, Nominex provides the necessary tools and resources to help you succeed in the world of cryptocurrency trading.

FAQ