Mercatox, unlike other cryptocurrency exchanges on the internet, is a multipurpose cryptocurrency exchange that provides more than just bitcoin trading services. It offers its clients a loan platform, a multicurrency wallet, payment services, and trading services for a wide range of cryptocurrencies. Mercatox has recently become one of the most talked about cryptocurrency exchanges, with over 280,000 registered members.
The multi-functional platform is appropriate for both novice and seasoned bitcoin traders. The Mercatox site, available in English, Russian, and Chinese, allow you to trade in numerous cryptocurrencies such as Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, OkPay, Payeer, PerfectMoney, and Ya.Money.
What is Mercatox?
Mercatox.com is a peer-to-peer cryptocurrency trading platform founded in 2016. More than 100 popular cryptocurrencies, including bitcoin, Litecoin, Ethereum, and Dash, are supported on the site. It gives traders worldwide access to a diverse choice of supported currency pairings and a comprehensive multi-currency e-wallet for personal and business usage.
Aside from bitcoin trading, Mercatox provides a variety of additional services such as margin trading and other payment systems such as OKPAY, Payeer, Yandex Money, and others, allowing them to invest and make attractive returns. You can find all of the essential elements of the exchange in this Mercatox review, which will help traders understand if the platform’s promises are accurate or not.
How Does Mercatox Function?
Mercatox is a new cryptocurrency exchange that uses innovative features and cryptocurrency trading services to attract users worldwide. The Mercatox exchange is not only user-friendly, but it is also available in various languages, including English, Russian, and Chinese. The platform traders may trade numerous cryptocurrencies on the exchange and check values from cryptocurrency and e-currency marketplaces.
Also read: Paxful Review: Is Paxful Legit and Secure?
Mercatox Fees
Mercatox Trading Fees
Every transaction involves two parties: the maker, whose order was previously in the order book, and the taker, who puts the order that matches (or “takes”) the maker’s charge. Makers’ orders provide market liquidity. Takers eliminate this liquidity by comparing manufacturers’ orders with their own. This exchange does not levy separate fees for takers and manufacturers. Their cost structure is a “flat charge model.” The trading cost is 0.25%. This is in line with the industry average.
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. Mercatox will prioritize the transaction; if you pay less, the transaction will be given regular priority and may take a few days. 0.0003 BTC is less than the industry standard.
Cryptocurrencies and Countries
According to Mercatox, the platform allows consumers from all around the world to complete a deal. Almost any country in the world, including the United States, United Kingdom, Australia, Austria, Croatia, Denmark, Greece, Finland, Italy, Ireland, Hungary, the Netherlands, Spain, Portugal, Sweden, and many more, may perform a trade on the platform.
In terms of the cryptocurrencies supported by the exchange, Mercatox offers over 200 prominent cryptocurrencies on its platform. Clients may trade over 350 trading pairs, including the most popular ones, Bitcoin, Litecoin, Dash, Ethereum, and Dogecoin. The Mercatox platform supports the following cryptocurrencies:
- Bitcoin (BTC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Dash (DASH)
- NEO (NEO)
- Ripple (XRP)
- Monero (XMR)
- VeChain (VET)
- Verge (XVG)
Safety and Privacy
There isn’t much information available about Mercatox’s security procedures, which might be owing to the exchange’s desire for anonymity. On its platform, Mercatox distinguishes between unverified and verified accounts. The platform has increased the withdrawal limitations for confirmed reports. On the other hand, Unverified account users cannot take any funds from the site; traders with unverified accounts can withdraw BTC up to a set limit, such as 0.5 BTC daily. Verified account users, on the other hand, can withdraw up to 5BTC daily.
Mercatox Customer Service
Some Mercatox reviews claim that the customer care personnel is not as responsive as it should be. The Mercatox exchange, on the other hand, has created its website in three languages to meet the demands of its multilingual clientele: English, Chinese, and Russian.
As a result, clients worldwide can contact the customer care staff via email or the help center on the exchange’s website. In addition, a separate FAQ section answers all of the traders’ typical questions in clear and plain terms.
Final Verdict
After extensive study, we can conclude that Mercatox is one of the greatest and most multi-functional cryptocurrency exchanges, providing its clients with more than just crypto trading services. It offers the greatest crypto lending platform, a multicurrency wallet, and various essential payment services, including Payeer, Perfect Money, Qiwi, OKPAY, and Yandex Money, to its consumers.
However, because it is a new platform that has just commenced operations as a crypto trading exchange, Mercatox has several issues such as sluggish customer assistance, withdrawal restrictions, a lack of sufficient information on its website, and so on. As a result, the platform should investigate these issues and rectify these gaps to obtain greater credibility and client confidence.
Also read: BingX Exchange Review: What Even is It?
