MERCATOX Review Accepted Countries, Payment Methods, Coins & User Reviews

MERCATOX Review Accepted Countries, Payment Methods, Coins & User Reviews

For those who prefer simplicity, Mercatox forgoes the typical taker and maker fees of most exchanges by offering a flat 0.25% trade fee, which is on the lower end of the scale. Verified users also immediately qualify for the Mercatox affiliate program that offers commissions for referrals, as well as subsequent trade commissions. For those of us who have been through many crypto cycles, we have come to value security most of all. Unfortunately for Mercatox, despite having resolved major issues in the past, it remains too low on our overall evaluation of trust to suggest trading on the exchange at this time.

• They don’t go by your schedule & if you want full time or a certain day off they won’t give it.
• Stop orders are used to buy or sell the assets at the best market price (just like market orders).
• Many users complain that they cannot get a satisfactory response from the support team of the exchange for months.
• Mercatox – like many other exchanges – makes a difference between unverified accounts and verified accounts.
• Mercatox is a non-regulated exchange with a history of ongoing issues that should make traders extremely wary of putting their hard-earned money to work here.

Mercatox Security

As for their other services, they are are pretty underwhelming. The lending isn’t accessible to those in the US or any of the dozen other countries I attempted through a VPN, so it’s hard to say how good or bad it even is. With Mercatox standard cryptocurrency to fiat withdraw fees varies by cryptocurrency,instant cash-out of your Mercatox account. A withdrawal fee of (Fees vary) may also be required for certain 3rd party payment methods instead of using cleared bank funds. Like most cryptocurrency exchanges, Mercatox differentiates between unverified account and verified the account.

• Mercatox also has a permanent loyalty program in place to appreciate users who promote the platform.
• You will then be taken to a registration form that requires basic contact information and your country of residence.
• With security becoming an area of interest, it is highly necessary for the exchange to add relevant info on the website.
• Additionally, Mercatox gives users the option to initiate instant payment gateways.
• Interestingly, the withdrawal rates and fees come out to be less than the industry average, which I will discuss later.
• Fees and limits are higher than the average commissions that can be stumbled upon in 2022.
• Withdrawal from Mercatox to an external wallet is a disaster.

The web-based, proprietary trading platform can be customized as per the user’s needs. Users can easily set the crypto price, order type, and the amount of trade they want to execute. The registered users can also view their transaction history from their order book window. With these advanced tools, Mercatox exchange strives to cover several investment areas and expand its customer base. It seems that Mercatox had a good start but weakened its positions at some point. It looks like many users cannot receive responses from the support team.

Mercatox Email Support

To cater to their multi-lingual clientele, Mercatox has made its website available in 3 different languages, English, Russian and Chinese. For the customer support service, you can reach out to the support team through email or through the support center. With the platform, you can set the order type, the price and the amount as well as the direction of the trade. Once executed, you can view the order history in the order book window. And with margin trading, Mercatox also give you the option to be a lender to other traders. The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders.

Its been over a week and my BTC funds are still processing

Most user feedback about this exchange is concerning, and people generally seem to have faced crucial issues with them. The lack of telephone support and the absence of a live chat feature is something many people frown upon. Yes, because of how easy-to-use its web and application interfaces are, Mercatox is seen as one of the best options for beginner traders.

All kinds of stop orders can be placed via this exchange, and lending can also be carried out. Plus, their website badly needs an upgrade, and it would have been nice if they could offer or embrace the algorithmic way of trading. As far as cost goes, a flat fee of 0.25% is charged for every position initiated or liquidated.

Coin in maintenance for 2 years

Mercatox boasts of having 700 currency pairs to enable easy access to a multitude of trades and blockchains. Unverified users have an upper-bound withdrawal limit of mercatox exchange reviews .5 BTC in a 24-hour period. A loyalty program is available by application that issues point rewards, discounted fees and other benefits for various levels of platform promotion.

Mercatox Users will have to pay a 0.30% trading fee as well as deposit fees of None when buying and selling cryptocurrency with Mercatox. 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. Taking classes also earns you certain digital currencies. Among negative customer reviews, withdrawal difficulty leads the list. Long wait times, failed confirmations, frozen funds due to “maintenance” and even sending crypto to the wrong address are among those that we encountered across many comment sections. Mercatox is a multifunctional cryptocurrency exchange that provides its clientele with a variety of services related to cryptocurrencies.

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.

Other Centralized Exchanges

Since traders spend a significant amount of time on the trading page, a more aesthetic design would do wonders. While Mercatox does include Know Your Customer or KYC regulations as part of the sign-up process, it isn’t a prerequisite. You can use the platform to trade crypto without KYC verification if you prefer to remain anonymous.