Margin trading on Mercatox is inbuilt in a basic trading interface. Usually, crypto exchanges have a separate section for margin trading. Another aspect that makes margin trading on Mercatox unusual is that leverage is taken from other traders, not from the platform.
For crypto withdrawals to an external wallet, a standard network fee will apply. The fee will be minor but will be dependent on the asset transferred, network congestion, and the complexity of the transaction. Similar to most crypto exchanges, Mercatox offers an order book-style exchange.
Mercatox is a scam? Reviews and description
One of the reasons why we assess trading platforms, much like our Tickmill review UK, is to find out just how good the online broker is. We analyse each platform based on a number of different aspects. All you need to do is read our coverage here at Strafe.com to find out how Mercatox stacks up against the rest. mercatox exchange reviews We continue to bring you the latest in online trading so that you are always prepared. It is possible to make the most of additional features if you plan on being a long-term trader with Mercatox. Recently, a loyalty program has been rolled out which will enable you to access a number of additional benefits.
Choosing the right crypto trading platform plays an important role in maximizing the returns from the volatile digital currency markets, which is what this Mercatox review aims to do. This Mercatox exchange review will provide an extensive guide to crypto investors to understand the platform’s key features and functionalities and its current regulatory status. The platform offers a built-in cryptocurrency wallet that allows users to store their digital assets. We know that the regulatory environment surrounding cryptocurrency exchanges is constantly evolving, and exchanges must stay up-to-date with the latest changes.
Mercatox.com offers bitcoins, ethereum, litecoin and other cryptocurrencies for your personal investment and trading options. Mercatox supports a wide range of digital assets, including popular coins like Bitcoin, Ethereum, Litecoin, and more. The platform also supports a number of fiat currencies, such as USD, EUR, and RUB. In the United States, cryptocurrency exchanges are generally regulated at the state level. The majority of states have adopted a uniform set of rules for money service businesses, which includes cryptocurrency exchanges.
How to use Mercatox?
The platform uses an escrow system to protect both buyers and sellers from fraud. The platform also has a number of other features that make it a great choice for both beginners and experienced traders. Mercatox has not issued a full disclosure on how they protect investors’ funds. However, all users need to go through the two-factor authentication process to secure and activate their accounts. For crypto withdrawals, on average, it takes from 30 minutes to several hours for a transaction to be confirmed.
It holds trader’s funds in a separate account to increase the safety. As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase. Nonetheless, users have reported cases saying that Mercatox is a scam because users often lose their funds on the platform.
Mercatox.com needs to review the security of your connection before proceeding. Trading any kind of asset is often quite a complicated affair – especially to the uninitiated. Whilst the act of opening and closing a system is pretty straightforward on most platforms, it can take a while to get to grips with the various charts, as well as the trading terminology. In the following review of Mercatox, we’ll check out exactly what you can expect from this operator. We’ll review everything from its regulatory credentials to the quality of its customer service and let you know how it measures up against the competition. October 12, 2015 is considered the official launch date Mercatox.
- Kraken offers a large variety of cryptocurrencies and pairs , so users who value a large selection and advanced traders who seek regulated margin will prefer Kraken by far.
- After doing so, users will receive a confirmation email enabling them to gain access to Mercatox.
- 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.
- We recommend investors to use regulated brokers platform such as Coinbase for cryptocurrency trading.
As well as a further 5% of the fees generated by any users the referee invites to Mercatox. It has developed simple to use platform that let traders trade multiple crypto coins. Mercatox trading platform is easy to use, and it is well-suited for both beginners and experts. Mercatox’s website showcases supported cryptocurrencies so that the traders can select their preferred cryptocurrency-trading pairs. However, it was created in 2015 and supported more than 200 cryptocurrencies. We all know that picking the best cryptocurrency exchange platform that helps maximize profits is vital, and this is what Mercatox aims at.
What cryptos are available on Mercatox?
In addition to its affiliate program, Mercatox users can participate in a loyalty program. Currently, in beta, users can earn points for interacting with the company on social media and creating topics related to Mercatox on popular forums. Users can earn points to reduced trading fees, earn extra affiliate payments, and even higher annual interest yields on assets held on Mercatox. For https://forex-reviews.org/ anyone wishing to earn money from crypto without investing or trading, Mercatox offers an affiliate program allowing people to promote Mercatox to earn crypto. Anyone with a Mercatox account can share a unique affiliate link with others to earn fee-based rewards. If a user signs up using one of these links, the affiliate will receive 15% of the newly referred user’s trading fees.
Mercatox has noted some past attempts to hack user accounts by third parties and encourages users to use strong passwords and opt for 2-FA to prevent hacking. The Mercatox platform has TradingView charting but it suffers from latency issues and lacks a robust selection of drawing tools. A chatroom is presented and is indicative of an older-style platform but it doesn’t exude the level of professionalism that the major exchanges provide. The traded price of digital tokens can fluctuate greatly within a short period of time. Moreover, the website hasn’t or doesn’t mention any legal information about this.
Traders must remember that the service does not verify each registrant until there is reason to do so. It is recommended to place all large amounts coming to internal wallets on cold cryptocurrencies. Traders like the interface of the resource, and the Russian-speaking audience is satisfied with the fact that they can work with the platform in their native language.
It uses two-factor or two-stage authentication in order to enhance the security of their trading platform. Despite several attempts, the platform remains strong enough to tackle hackers. Unlike other exchanges that don’t set limits on minimum and maximum amounts, Mercatox imposes restriction regarding the amount. They have set minimum deposit level which differs from crypto to crypto.
For example, if verified account holders can make 5 bitcoin per day, the unverified account holders can withdraw 0.5 bitcoin per day. The broker seeks to attract clients from all over the globe with a specialty in crypto trading and special features presented. 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. Mercatox is a new cryptocurrency exchange that has quickly become popular due to its low fees, wide range of asset support, and user-friendly interface. The exchange also offers lending to traders and listings for ICOs. In this Mercatox review, we will take a look at the features that make this exchange unique and consider whether it is a good option for trading cryptocurrencies.
Mercatox review UK FAQ
That is why I have been working as an editor for TradersBest.com since 2019. The user also assumes full responsibility for the information he or she posts on the platform site, namely text messages, chat, profile, published or transmitted data. You are assured that you provide only accurate and truthful information and will update it as necessary. The client understands and accepts the fact that it is he who is fully responsible for his interaction with other service users. In turn, the company does not take part, does not go into the data of all clients and does not check their applications. The organizer declines responsibility for the behavior of other users and their compatibility with other clients of the exchange.
However, the lack of registration means that the exchange is harder to hold accountable. It means that the Mercatox team has low responsibility for your funds. There is also an option of getting help through voice calls and by writing to the customer support through the website’s social media accounts, including Facebook, Twitter, and Telegram. That’s a serious drawback because people should realize what risks they take before investing their money. Users of the exchange also have the option of voting on coins they would like to see added to the platform.
Other sources name Canada as the location for its headquarters. Nonetheless, users around the globe can access the exchange, including those in the U.S. One thing that will definitely put many users off is the lack of any kind of regulation. Whilst this is not required for cryptocurrency, it is nonetheless an effective seal of approval that a platform is completely legit. That isn’t to say that Mercatox isn’t, but users need to go on faith more than they would with the likes of Plus500 or eToro.
The platform allows clients to work either with their own funds or with leverage. To do this, it is allowed to raise any amount of funds and use the option of margin trading. Investor invests funds absolutely safe and then gets profit from them. A handy terminal is implemented TradingViewwhich has the necessary data for a detailed market analysis of each cryptoasset. All questions arising on it can be asked to the traders or the support service via chat.
Besides cryptocurrency trading, Mercatox offers several other services to its clients such as lending platform and payment services. Mercatox is a reputable peer-to-peer cryptocurrency exchange that only has a 0.25 percent fee on all trades. Owners of the unverified accounts can only make withdrawals to a specific limit using only bitcoin. The trading process here deals mainly with crypts and their different types and form. Mercatox web-based platform can be easily customized, so traders can quickly get their order type, cryptocurrency price, and the amount of trade they want to execute.
The tokens that get the most votes are included in the exchange’s growing list of cryptocurrencies. There one can make money without trading by lending assets to interested individuals at an interest. Also, the Lending feature might be useful to get extra money for margin trading. To get started in this section, one has to set the terms of engagement with the borrowers, i.e. amount, terms, and interest rates.