Established in 2016, Mercatox is a modern peer-to-peer exchange service for accessing e-currency and cryptocurrency exchange markets through its multi-functional trading platform which is suitable for both beginners and experienced traders. Unlike most cryptocurrency exchanges out there, Mercatox is a multi-functional cryptocurrency exchange service that offers more than just digital assets trading services. Besides providing trading services for a wide variety of digital currencies, Mercatox also provides its customers with a multicurrency wallet and payment services, as well as a lending platform. With over 280,000 registered traders, Mercatox has started to become one of the most controversial crypto exchanges recently.
Mercarox platform is running on blockchain technology, maintained by the community, which significantly prevents hacks. Apart from this, customers’ personal information is not accessible by the company itself, as it is only shared with users’ direct trading counter-parties.The company operating the exchange and the brand is headquartered in London, United Kingdom, but considering the nature of its service, it is not regulated by the Financial Conduct Authority or any other regulatory body. However, the United Kingdom financial watchdog has not taken a definitive strategy towards cryptocurrency exchanges.
Account Verification
As with other cryptocurrency exchanges, Mercatox distinguished between verified account and unverified account. Generally, the withdrawal limits are higher for verified accounts, but users with unverified accounts can still make bitcoin withdrawals limited to 0.5 BTC per day. Users with verified accounts can withdraw up to the equivalent of 5BTC per day.
Regarding the security at Mercatox, the exchange does not give any information about their security setup.
Mercatox Fees
Mercatox charges 25% on every trade. For withdrawals, however, the fees are determined by the type of cryptocurrencies. The following table below indicates the fees that Mercatox charges for withdrawals:
Bitcoin (BTC) 0.0005 < FEE < 0.005
Ethereum (ETH) 0.002
Dogecoin (DOGE) 2
Litecoin (LTC) 0.001
DASH (DASH) 0.001
Bitcoin Gold (BTG) 0
Customer Support
To cater for its multi-lingual customers, Mercatox has made its website accessible in three separate languages, English, Chinese, and Russian. For the customer support service, users can reach out to the customer support team through email or via the support center.
Is Mercatox Safe
Mercatox P2P cryptocurrency exchange based in the UK, where you can trade in a wide range of cryptocurrencies with reasonable trading fees. However, minimum amounts of deposit are fixed, and withdrawal charges also apply. While you can purchase Bitcoin and some altcoins with fiat currencies on this platform, the deposit methods are limited to various e-payment systems, no credit/debit cards and bank wire payments supported.
Overall, what Mercatox is trying to create is a cryptocurrency marketplace that can meet the various needs of its clientele. As to whether Mercatox will be successful with its effort in the future, only time will tell. As for now, the services offered by the exchange remain below par when compared to what the leading cryptocurrency exchanges can offer.
Website : [url]https://mercatox.com/[/url]
Facebook: [url]https://www.facebook.com/mercatoxcom/[/url]
Telegram: [url]https://t.me/mercatox_official[/url]
Coinmarketcap: [url]https://coinmarketcap.com/vi/exchanges/mercatox/[/url]