Let’s dive deeper into what these two types of exchanges are and what they mean for how you trade crypto. Mercatox offers remarkably high limits and they depend on the user’s account level.A user’s account level is determined by the amount of information they have verified. Fully verified users can buy up to 50K USD worth crypto every day.
Choosing the best crypto exchange platform can help ensure you have access to the range of coins and trading features you need. It also helps to make sure you’re getting the most competitive fee structure for your crypto trading plans so you’re not paying more than necessary. There are thousands of cryptos, and it’s tough to find a platform that lists every one. Most exchanges support major cryptos like BTC, ETH and SOL, but rare altcoins may be much harder to find. The best crypto exchanges in Canada let you deposit CAD, but support for other fiat currencies varies. The best crypto apps have user friendly interfaces with clearly laid out tools and features for beginners and advanced investors alike.
It offers a vast collection of cryptocurrencies to trade, and users can also earn staking rewards, among other things. The payment methods offered at Mercatox are Bank transfer (ACH).Mercatox also offer wallet, wire transfer, crypto conversion, ACH transfer, and credit transactions. Mercatox allows users to take custody of their cryptocurrency assets themselves. Users can either use Mercatox’s crypto wallet, or their own.Mercatox also has over 3 fiat currencies available including USD, EUR, RUB all accessible to registered users. Mercatox offers an entire course of tutorials and exams as a means of educating users about digital currency trading as well as some of the digital currencies being offered.
Withdrawal Fees
- As of January 2022, many of the “supported” coins can not actually be traded or withdrawn.
- With Mercatox you can also exchange your cryptocurrency with fiat currency, such as the UK Pound or US Dollar.
- Users of the exchange also have the option of voting on coins they would like to see added to the platform.
- Contrary to brokers focused on trading, Mercatox enables traders to take custody of their cryptocurrency assets for themselves.
- Like any other online service, the reputation of an exchange is very important when it comes to looking for a reliable one to work with.
The platform can be used by both experienced traders and beginners who wish to combine trades of different types of digital money. It seems that Mercatox had a good start but weakened its positions at some point. It looks mercatox exchange reviews like many users cannot receive responses from the support team.
Mobile and desktop apps
Such transfers usually take 1-2 working days to complete. Mercatox also allows instant cash-outs that run twenty-four-seven, to cards or bank accounts in exchange for extra fees (1 percent). Mercatox also enables traders holding digital currencies with them to take part in staking rewards. Staking is similar to earning interest with a bank account. Staking generates revenue from traders’ holdings as they are utilized for validating transactions in a digital currency.
Mercatox Security
The point of this Mercatox review is to provide honest and transparent feedback of the platform. That being said, the platform is not regulated and does not comply with regulatory policies and trading standards. Even though Mercatox is based in the UK it is not regulated by FCA.
Mercatox does not currently offer margin trading or leverage options. Mercatox employs a flat fee model, charging a uniform fee of 0.25% for both makers and takers. This aligns with the industry average, where makers provide liquidity, and takers remove it. Please note that your feedback may be crucial for the user when choosing a product, so try to avoid inaccuracies and unreasonable criticism. In the website section called AML KYC, you can read that the company takes AML laws seriously.
The remaining 2 percent is meant for facilitating trading volume. The platform also has an insurance policy that protects users’ cryptocurrency holdings. Different cryptocurrencies at Mercatox come with different limitations and set withdrawal amounts. You may only be able to trade some with fiat currencies like the US dollar. They can also purchase crypto with funds in their Mercatox wallet.
Best crypto platform for most supported coins: Changelly
Mercatox also has a help page for solving common problems with your Mercatox crypto account. Stablecoins are meant to mitigate volatility in relation to digital currencies like Bitcoin. Stablecoins are usually pegged to stable reserve assets like the US dollar or gold. Initially, Mercatox only offered trading via Bitcoin, but gradually started adding more digital currencies that suited its decentralized standards. It has now expanded its list to include more digital currencies like Litecoin, Ethereum, XRP, as well as many others that offer promise and suit its criteria.
Yes, Mercatox is among the safest web wallets available. It keeps 98 percent of its assets in offline cold storage. Mercatox also ensures other ways to safeguard funds, i.e., two-factor authentication and AES-256 encryption.
Supported coins, account fees and features across 28 cryptocurrency trading platforms are all weighted and scaled to produce a score out of 10. A Centralized Exchange, also known as CEX, are crypto exchange platforms that act as a brokerage service between the trader and the coins. These platforms are typically regulated and provide services similar to standard stock trading platforms. Mercatox is a centralized cryptocurrency exchange based in Canada, operating since 2015. The platform positions itself as a modern service facilitating access to e-currency and cryptocurrency exchange markets.
- We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
- Although Mercatox usually respond within 2 days it may take up to 7-14 days for a response to some queries during peak times.
- The two-factor authentication feature is required to enable or disable the feature.
- Besides a generic candlestick graph, there are such options as Hollow Candles, Heikin Ashi, Baseline, Area, and Line.
Mercatox email suport can be reached at email protected. Although Mercatox usually respond within 2 days it may take up to 7-14 days for a response to some queries during peak times. Mercatox phone support can be accessed by called them on . Liquidity also allows for significant transactions without any problems. Although Mercatox has a vast variety of altcoin choices for beginner investors to interest themselves in.
Are there any limits on the amount you can deposit, buy or sell per transaction or per day? This question typically only applies to “crypto whales” or people who make transactions ranging from hundreds of thousands to millions of dollars. You might be able to raise your transaction limits by providing additional personal information as part of the exchange’s Know Your Customer (KYC) process. Finder’s investments experts reviewed 18+ exchanges available on the market to narrow down the best exchanges for buying, selling and trading cryptocurrency. Mercatox makes a solid choice for traders looking to trade crypto as it has a sleek, easy-to-use interface, signing up is straightforward, and most of its processes are simple.
Contrary to brokers focused on trading, Mercatox enables traders to take custody of their cryptocurrency assets for themselves. Mercatox provides its cryptocurrency wallet, but traders can bring their wallets. This way, traders can pick the solution that suits them the most.
Cryptocurrencies supported on Mercatox
People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Achieving success on your crypto journey can be challenging. Rest assured, our extensive price comparisons and informative cryptocurrency guides are here to assist you every step of the way. 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. There are almost no complaints, most of the reactions showcase a positive and trustful attitude. All in all, the loyalty reward program is designed to incentivize recommending the platform to more users.