If you’re curious about exploring a new platform and potentially earning a small amount of crypto, it might be worth a look. Remember that free crypto promotions are often used to attract new users. While the Mercatox Exchange (฿) group may offer a genuine opportunity, always proceed with caution and conduct thorough due diligence.
- Mercatox is convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced…
- Mercatox is a UK based cryptocurrency exchange that launched in October 2015 and currently accommodates more than 280,000 users on its platform.
- The platform also has an insurance policy that protects users’ cryptocurrency holdings.
- CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Probably at that point, the exchange started to fade away. There are signs that the website is not updating since about the same time. The chatbox is active and the official Twitter of the exchange makes announcements once a month or so. And the second level is also known as guest level 1, where the user earns 5% of the transaction. The profit is calculated instantly, and the amount earned is sent directly to the user’s wallet.
- I am happy that I tried Mercatox first with a relative small amount so it is not that big of a deal for me to cut my loss.
- By verifying the account the user gains access to withdrawals of up to 5 BTC in 24 hours.
- It offers a vast collection of cryptocurrencies to trade, and users can also earn staking rewards, among other things.
- To withdraw some coins you just should click on Withdraw and provide your wallet address.
- We look at factors like user experience, fees, payment methods, supported coins and more.
I have my ETH coins stuck on the…
The only selling point this exchange has in 2022 is that it supports some of the rarest coins. If you can’t help but trade them, probably Mercatox can be a decent choice for this. The program was launched to reward points to those users who help promote the platform. 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.
Mercatox Compared To Other Cryptocurrency Platforms
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.
How Long Does It Take to Withdraw Money From Mercatox?
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.
Mercatox requires its users to finish a 2-factor authentication process to log in to their accounts. Other than that, Mercatox also has biometric login (fingerprints and Face ID) security as well as AES-256 encryption when it comes to private keys. Aside from all this, it helps to use strong passwords, i.e., ones that should not be used elsewhere. Users can withdraw their digital currency from Mercatox to fiat at any time through an ACH transfer.
Mercatox Fees
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.
The deposits made via this wallet are also free of charge. Business owners can use the Mercatox wallet to accept payments through the integration of the wallet into the business website. Mercatox works best particularly for active retail traders seeking to trade as well as store multiple digital currencies, as it offers an element of convenience. The platform also happens to be a viable option for institutions and businesses looking to utilize digital currencies, and it allows traders to convert one digital currency to another. Mercatox is a new cryptocurrency exchange that integrates a peer-to-peer trading and a full trading platform. Transactions are made through secure Ethereum smart contracts, bypassing the exchange’s platform.
As for trading fees, Mercatox is slightly more expensive than most of the other exchanges. Interestingly, some of the biggest crypto exchanges globally do not operate in Canada. For example, Binance, which is the biggest crypto exchange platform in the world by trade volume, left the Canadian market in 2023 due to regulatory restrictions. From depositing to trading and withdrawing funds, how much will it cost you to buy and sell crypto on each platform? Most brokers or instant buy services charge a service fee that adds less than 1% up to several percentage points above the going rate of an asset. Most of the crypto exchange platforms you come across will be Centralized Exchanges.
Hitex Exchange Official
Mercatox is a platform that integrates a lot of different functions. Unfortunately, users are posting a lot of complaints regarding slow customer service and suspected scams. Users who signup for their services are advised to transfer their funds to secure external wallets as the platform experiences frequent down-times and has not been fully proven to be secure. The platform also offers users the opportunity to earn more through its affiliate program.
Verification can help ensure real people are writing the mercatox exchange reviews reviews you read on Trustpilot. Only deposits and withdraws are slow, need to speed that process up a little. Telegram is a messaging app that has gained immense popularity over the past few years, and it’s not just limited to personal use. What if there was a Telegram group that offered a tangible starting point, a small but real stake in the crypto world? The Mercatox Exchange (฿) group whispers promises of free MERCA tokens, but is it a hidden gem or just another flash in the pan? One can directly contact the exchange to see the full list of supported countries.
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.
It is similar to interests in a bank account; however, it comes with its risks. This generates revenue from a user’s holdings because they are used to authorize crypto transactions. About MERCATOX and our plansMercatox is a modern service for accessing e-currency and crypto currency exchange markets.