HedgewithCrypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for education purposes only. HedgewithCrypto does not provide financial advice nor does it take into account your personal financial situation.
With its proprietary web-based trading platform, traders can easily set the price, order type, and the amount combined with the direction of the trade. The platform permits traders to view the transactions history in the order book window. Margin trading is also available on this platform and it permits traders become a lender. Actually, https://forex-review.net/ Mercatox platform is seeking to cover multiple areas of investing to expand their customer’s base. The platform can also be accessed from anywhere around the world. However, for higher withdrawal limits, one has to verify the account by uploading two pictures of their ID and an official document containing the personal address.
- However, we encourage you to consult with a qualified financial advisor before making any investment decisions based on the educational information you find here.
- On the top bar, one should click on the TRADE icon and start trading.
- I saw all trades come with a fixed 0.25% commission, with withdrawal and deposit fees changing from currency to currency.
- Their mission includes providing instant access to a crypto exchange.
On the same day, however, Binance was on place no. 1 in the list of the exchanges with the highest 24 hour trading volumes with a trading volume in of USD 30 billion (with a “b”, not an “m”)… The platform launched in October 2015 and on 18 July 2019, they informed on its website that it had 579,071 users. These users had in aggregate executed 17,537,044 deals totally worth 651,791 BTC. On the same date, the platform’s 24-hour trading volume was USD 16.2 million, giving it place no. 84 on the list of the exchanges in the world with the highest 24-hour trading volumes.
It’s absolutely normal exchange
I sadly believe from all the comments others have left here and on the internet that I will not see my transaction complete or that they will mysteriously disappear. I have Video recordings and Captured Photo evidence of my transactions just in case something happens to my funds. I too have https://forex-review.net/mercatox-review/ never placed a review here but I feel compelled to do so because of what I and others are experiencing. MERCATOX, if you are ethical and you care about your clients and their money and you are watching…..PLEASE, PLEASE, COMMUNICATE with us and start sorting all of these issues out.
It’s possible they keep improving their services, but considering they’ve been around since 2016, it’s hard to imagine the improvements in the next year will be that much of a change. Like many platforms, Mercatox has a news section (also accessible at the bottom of their homepage). It would perhaps be more aptly named notifications as all the content is about newly listed assets. There aren’t any articles, and all the updates are just a sentence or two explaining what new market or swap feature was added. Still useful in its own right, but it’s by no means a traditional news aggregator.
If you want to use fiat currencies in any way you will need to use a different exchange. You can trade crypto to crypto, and you can only deposit and withdraw crypto. This means you need to transfer crypto into your Mercatox e-wallet, and you can only transfer crypto our of your e-wallet to another one. Mercatox is a cryptocurrency exchange that offers peer-to-peer trading on hundreds of different digital assets.
This guide will help crypto investors in understanding the key features and functions of this platform along with its regulatory status. However, they do encourage users to turn on two-factor authentication to increase the safety of their accounts. This step creates an additional layer of security as users will not be able to log in without inserting a one-time password generated on the mobile device of the user.
Basic Trading UI
There is also a chat room on Mercatox where traders can discuss the market situation, ask questions about technical analysis, and promote some of their favorite coins. This creates a good sense of community that I know all traders would appreciate. In this section of our Mercatox review we have highlighted 6 special features that sets them apart when compared to other platforms.
Why use Mercatox
While Mercatox clearly advertises lending as one of the their main tabs, it isn’t accessible from the United States or any other country via a VPN. It’s possible they haven’t fully rolled out that service, but the tab has been up on their platform for several years, so I doubt that is the case. Perhaps they removed it due to regulatory scrutiny, but, irrespective of the reasons, it remains inaccessible. Someone is getting good prices while someone else is losing way more than they need to (compared to if they traded on another exchange). Here is an example of the order history on Mercatox for BTC/USDT, one of the most commonly traded crypto pairs. The highest bid in the middle of the US session, for example, was $22,400, while the lowest offer was $26,440.
SUPPORT
Business owners can use the Mercatox wallet to accept payments through the integration of the wallet into the business website. Mercatox is clearly a developing platform with a lot in the works and considerable room for improvement, but it’s still a useable exchange. The trading interface is decent, and they have a lot of markets, though not as many stablecoin markets as most traders would probably prefer. 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. Mercatox has hundreds of supported assets and trading pairs; however, most of those pairs are paired with BTC or ETH.
Further investigation reveals that it was part of a multi-exchange hack in 2018. Instead of clarifying what measures would be taken to prevent future attacks, there were again only vague and general statements from the company. Account security at Mercatox is very basic with password creation and 2-factor authentication for email and account login. I was immediately redirected to another page that came with a registration form and process. The form asks you for simple details like phone number, country of residence, and email address. Once you fill out the form, you will receive a confirmation email.
Lastly, it will also be possible to use private trading API and Websocket API. It is clear that the platform which is currently in existence will continue to go from strength to strength. However, it is now possible to access over 700 different crypto trading pairs. Thus, there is ample opportunity for novice, as well as professional, traders. Overall, what Mercatox is attempting to create is a cryptocurrency marketplace that is able to meet the diverse needs of its clients. As to whether the exchange will be successful with its endeavor in the future, only time will tell.
Verified users also immediately qualify for the Mercatox affiliate program that offers commissions for referrals, as well as subsequent trade commissions. 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. There is also a lack of some basic options available on many other centralized exchanges. The exchange provides almost 360 different trading pairs, and you will find all the popular pairs, including Litecoin, Bitcoin, Ethereum, Dogecoin, and Dash. Mercatox aims to ensure that there is something for everyone available on the platform.
Multicurrency Wallet
Above the charts, one can see the numbers (24-hour change, 24-hour volume, 24-hour peak price, 24-hour bottom price, and so on). The user interface is easily one of the selling points of Mercatox as the platform is intuitive and has a convenient design. Therefore, clients from varied regions of the world can report to the customer support team via email or through the support center available on the exchange’s website. Also, a dedicated FAQ section has all the common queries of the traders answered in simple and lucid language. According to some Mercatox reviews, the customer support team is not responsive as it should be.
