The major appeal of both Bitcoin and cryptocurrencies in general — apart from the ubiquitous incentive of financial prospects countless investors are driven by — is the fact that they eliminate the need for the middleman who charges fees simply for establishing trust between two parties exchanging value. And while we can all see the tremendous value in a trustless system running on mathematical laws which eliminates middleman, the fact is not entirely correct as in order to get from fiat to crypto we must first go through an intermediary (exchange) to buy our beloved coins. In the process, we still have to deal with a middleman who again charges us various fees for providing the service.
The portion deducted on each trade will vary from exchange to exchange, and it will come in a couple of shapes and sizes. Needless to say, this plays a crucial role in diminishing a major part of the appeal of getting into crypto in the first place.
These fees come in form of: deposit/withdrawal fees, taker/maker fees, fees for buying with credit/debit cards and hidden fees.
This issue is prominent across the board on all exchanges although some make efforts to curb it by sacrificing short-term profits to increase customer satisfaction and build a solid foundation for long-term benefits that come with running a high volume cryptocurrency exchange with a backbone of loyal traders.
Don't get me wrong, fees are somewhat justified because they are necessary means of assuring revenue which makes the business economically viable, I'll never argue that. They are a necessary evil and that's something we should all reconcile with because, at the end of the day, a business is a business and exchanges aren't NGO's so we can't really expect them to run at a loss. What's unjustifiable though, is the exorbitant fees some exchanges charge, with some going as high as 6% for trading, 5% on credit /debit card purchases and absurdly enough, up to 2% withdrawal fees.
The worst part being, I can assure you that a substantial portion of the people paying these outlandish fees — even in comparison with traditional exchanges — are inexperienced and ill-informed traders who unknowingly fall into the trap, consequently hemorrhaging on each trade they make. This could as well be you and to be honest, I was not much different when I first got into crypto.
I ended up paying fees up to 5% — for the convenience of exchanging my native currency for bitcoin — only because the information was conveniently and purposefully, not clearly specified. Depending on where and how much you trade, this lack of proper knowledge could cost you serious money — although it wasn't much of a loss for me considering the amounts I was investing — and it's entirely up to you to inform yourself about the topic which you can to do right here, right now, by going through the remainder of the article.
While expecting exchanges to offer their services completely off charge is absolutely unreasonable, I think most of us will agree that fees in the range of a couple of percents are outrageous and a complete rip off of unsuspecting traders.
Recognizing these and other issues like the steep learning curve normies have to go through in order to get into crypto, one cryptocurrency exchange has set out to offer the lowest possible fees for their users while making trading cryptocurrencies as easy as it is to order a pizza to accompany your Sunday night Netflix binge.
Mercatox.com is a next-generation cryptocurrency exchange which aims to win onver the hearts of traders by challenging its competitors with its extremely low fees, ease of use, flexible and easily customizable interface, lightning-fast execution and a chance to participate in its economy to consequently earn a passive income by staking the native token of the platform.
The fee schedule on Mercatox.com is the following:
• No deposit fees
• No maker fees
• Minimal withdrawal fee
• Just 0.1% taker fee
•
This alone should be enticing enough for most crypto enthusiasts to jump ship and start trading on Mercatox.com as I'm fairly positive that the exchange they are currently using is probably taking an unnecessary, disproportionately large cut of their hard earned money. I can say that with a good amount of certainty because while I was researching the topic, I couldn't find an exchange which offers regular customers lower fees, making Mercatox.com the best place to buy cryptocurrency if you want to pay the least amount of fees in the process.
Interface
It's clean, well-designed, easy to understand and simple to navigate, making user-experience so intuitive even those who haven't had much experience trading cryptocurrency, won't face any difficulties making their first trades here. There is not much else to write home about the default mode other than the night and moon mode — located in the top right corner — which I found to be really useful, especially the moon mode.
Where things get really interesting though, is the widgets section — again, can be found in the top right corner of the screen — here, we can let our creativity run wild and fully customize our layout by adding a wide variety of different functionalities tailored to our liking.
Conclusion
In the sea of cutthroat businessman running exchanges inspired by greed and driven solely by profits on the expense of traders, Mercatox.com attends this growing problem by rendering the best service possible and charging only a minute fee in comparison to others on the market.
Now that's something to think about when placing your next buy order!
For more information
WEBSITE: https://mercatox.com/
TELEGRAM: https://mercatox.com/
FACEBOOK: https://www.facebook.com/mercatoxcom/