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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. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning.
In fact, it’s better to adequately estimate possible risks and profits before making the decision to use this feature. However, it seems that as of January 2022 the Lending feature is inactive. Mercatox is a cryptocurrency exchange that provides a multicurrency wallet to its clients.
What is Mercatox?
For the verified account holders, they can withdraw up to the equivalent of 5BTC per day. Mercatox is an emerging cryptocurrency exchange that seeks to attract customers from all across the world with its unique features and cryptocurrency trading services. Besides being user-friendly, the Mercatox exchange is also available in multiple languages like English, Russian, and Chinese. Traders on the Mercatox platform get the opportunity to trade multiple crypto coins on the exchange and view prices from both cryptocurrency and e-currency markets. This is where Mercatox comes to the rescue with its multifunctional platform and is also one of the big cryptocurrency exchanges in the market.
For the traders who pay less, the transactions might take some time to process within the range of few days. In which, as per the average of the market, the fees on the withdrawals applied by the broker of 0.0003BTC is below the average of the market which gives an advantage for the broker. Nevertheless, it’s also important to note that there are many complaints online from users who purport Mercatox is a scam after losing their funds on the platform. Some of the complainants claim that even after reaching out to customer support, they didn’t get the kind of assistance that they sought.
Another interesting aspect of Mercatox is the fact that it runs on blockchain technology which should, at least in theory, ensure a very low risk of hacking. The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders. They currently have 83 coins/tokens listed as not available. There are 55 coins in maintenance that if you have coins in you have no access to them. I have made well over 100 support tickets to get them to take my coins out of maintenance so I can remove the coins from this exchange. They only respond with the same comments over and over It has now been 5 months and now they just ignore me.
Another advantage is the fact that fiat currencies are supported. It also provides its users with the ability to place limit, market and stop orders. Since we are on the subject, it’s worth noting that unlike most crypto exchanges, mercatox exchange reviews Mercatox has a fixed minimum initial investment. This minimum deposit level is applied for blockchain transfers, but also transfers via e-wallets in fiat currencies — this fixed minimum investment differs from crypto to crypto.
On Bitcoin’s case, the deposit must not be less than 0,0001 BTC. Mercatox aims to offer a modern service for trading and exchange of more than 100 cryptocurrencies. Mercatox plans to allow traders to get funds for margin trading along with providing sources to invest and earn income on the loan. It is seeking to offer P2P lending facilities in the coming days. The withdrawal fees ranges from 0.0003BTC to 0.005BTC on BTC withdrawals.
You just send the coins there and wait until the payment arrives. To withdraw some coins you just should click on Withdraw and provide your wallet address. That offers its clients more than crypto trading services. It provides its customers with the best crypto lending platform, a multicurrency wallet, and a lot of useful payment services like Payeer, Perfect Money, Qiwi, OKPAY, and Yandex Money. In comparison, verified account holders can withdraw up to 5BTC per day.
Is this your company?
Users participating in suspicious activity can be denied service. All in all, the loyalty reward program is designed to incentivize recommending the platform to more users. However, the list is updated regularly with new possibilities like https://forex-reviews.org/ the ability to sell your points likely to be added soon. Stop orders are used to buy or sell the assets at the best market price . The difference is that these orders get triggered only if the market price reaches a specific figure.
- We have listed above their minimum deposit requirement related to each coin.
- The feature was added to the platform back in February 2017.
- Unfortunately, the company does not offer bank wire transfer and credit cards options.
- However, the platform does not hold customer funds in the separate account according to the policies of regulators.
- The security measures the broker is applying to maintain the safety of the information on the accounts aren’t disclosed perhaps due to confidentiality reasons.
The platform can also be accessed from anywhere around the world. Many users complain that they cannot get a satisfactory response from the support team of the exchange for months. Sometimes, the customer service doesn’t provide even a formal response to queries.
Apart from trading services for a wide selection of cryptocurrencies, Mercatox specializes in a multicurrency e-wallet and payment services, and lending. Yes, according to the various Mercatox exchange reviews, the platform appears to be a good cryptocurrency trading platform. It offers a wide range of crypto assets along with other services like margin lending, multicurrency wallet, and quick payment services. The platform interface is very simple and lets users trade multiple cryptocurrencies and view prices of both the e-currency and the cryptocurrency market. The proprietary web-based trading platform supports three order types, limit, market, and stop. Apart from this, the users can check the market depth through the order book section of the website and also check the order status.
How to start trading on Mercatox.Com?
Although the platform offers a wide range of cryptocurrencies, there are several flaws in the system that are making it difficult for the user to comfortably trade on this platform. These flaws include poor customer support, fee, and limits on withdrawals. The fee structure that changes from coin to coin makes it difficult to understand the fee structure of the platform. We recommend investors to use regulated brokers platform such as Coinbase for cryptocurrency trading. Established in 2016, Mercatox is one of the emerging peer-to-peer cryptocurrency exchanges. This exchange is known for providing cryptocurrency trading services for a 0.25% fee on all trades.
In the photo ID verification process, you need to upload a copy of a government-issued personal identification card, address details with supporting documents, and an additional photo. You can fund your account on Bitbank by depositing cryptocurrency. Mercatox supports only TrueUSD stablecoin with $ 299,672 trading volume over the last 24 hours. The UI definitely needs some work, and there is a lot of information missing, but each section is organized and often includes step-by-step picture walkthroughs. 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.
It happens when the market price doesn’t reach the price specified by the user or gets worse than this price. What’s good is that if such an order gets triggered it always gets triggered at the desired or better price. Market orders can be used to buy or sell assets at the current price . In markets with high liquidity, market orders usually get filled instantly. The chance that the market order is not going to get filled is very little. The final price can depend on the moment when the order gets filled.
Since its launch, Mercatox has seen its fair share of hacking attempts. However, close to none have been successful, as the platform’s team always opted to shut down the platform and upgrade the security protocols instead of risk. Mercatox has two-factor authentication, and all users are urged to take some time to activate it when creating an account.
Don’t put your money there thank god i…
Users can easily withdraw funds from Mercatox by logging into their official website, which will direct them to the E-Wallet page of the exchange. Users then need to click on the ‘Withdraw’ tab, and the withdrawal options will appear on the screen. Finally, the users should type in the exact amount they want to withdraw, paste the wallet address, and click on the ‘Submit’ button. 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.
Supported Cryptocurrencies
Theoretically, Mercatox can be used in most countries as the terms and conditions don’t point to any country as prohibited. It is however stated that the use of the service can be prohibited in certain countries due to cryptocurrency-related laws. So it’s up to users to check if they can actually use Mercatox. Some sources name Canada as a location of the exchange’s headquarters. However, users from around the globe can access the exchange, including those based in the United States.
Other Centralized Exchanges
Supports over 100 varied crypto assets and 3 fiat currencies- USD, Euro, and Russian rubles. However, the platform does not hold customer funds in the separate account according to the policies of regulators. Coinbase, on the other hand, works according to regulators policies.
Mercatox also has various withdrawal fees such as ~0.0004 BTC, 0.008 ETH, and 50 DOGE. Among brokers that charge withdrawals fees, these are pretty standard rates, but there are brokers that don’t charge anything unless it’s an ERC-20 token, so it still isn’t ideal. If you’re in search of a new cryptocurrency platform, you may have come across Mercatox. This platform aims to provide for all of your crypto needs in one place. Mercatox includes a variety of features such as trading, lending, wallets, payment systems, news, and more.
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