Mercatox

Cryptocurrency exchange Mercatox has perfectly fit into the electronic currencies market. It offers comfortable trading conditions for beginners and experienced traders, an interesting affiliate program, and a wide range of cryptocurrencies. The creators of the resource are constantly trying to develop and improve its functionality, the user is given the opportunity to expand the list of currencies on their own. This option is not available in every platform, especially in such pleasant conditions, when you can either inexpensively pay for the introduction of coins or wait for the vote of the participants of the loyalty program.

Still, is Mercatox a reliable crypto exchange that can carry out profitable trading operations with any cryptocurrency, or is it a scam? A detailed review of the site can provide answers to these questions and more.

 

 

Why Mercatox?

Mercatox is an exchange for trading digital assets, which appeared on the financial market in 2015. In five years, the platform has actively developed, became quite popular among users around the world, and attracted more than 680,000 traders to the project. The service focuses specifically on the international market, and the interface of the official website is translated into the most popular languages among customers are English and Chinese.

The platform has a fairly simple and straightforward interface that both professional traders and beginners will be able to deal with. An experienced user will need no more than 10-15 minutes after registration to understand the basic functionality of the platform. The website also has a separate section with the company’s latest news. Here the client can read the latest changes on the exchange, as well as the listing of cryptocurrencies. The trading platform itself consists of several sections:

• on the left side the user can find information about the selected trading pair, as well as an informative chart TradingView;
• The available trading pairs are located on the right;
• At the bottom the client can find a list of open orders, orders to buy and sell cryptocurrency, as well as
• chat between other traders.

 

Mercatox crypto exchange is quite popular in the digital market today. The service successfully combines several tools at once: a platform for payments, a currency exchanger with the structure of smart contracts (P2P), and a trading terminal. All this makes cooperation with the project functional. The P2P (Peer-to-Peer) system means the interaction of traders on an equal footing – if necessary, each of the transaction participants can become both its client and server. In the case of one of the P2P servers going offline or breaking, additional nodes will replace it and maintain the stable operation of the project. As explained by the creators of the platform, this exchange turns into a tool where customers can exchange any currency between them, transactions are carried out using different payment systems. Almost all pages of the resource have several language versions including Chinese and English. On the main page mercatox.com available trading schedules, referral programs, etc.

The resource also has its own token – Merca, which will allow its owner to receive a stable profit from operations. To attract investors’ attention to the exchange, soon after the platform opened, the developers launched a 30-day crowd-sale (an auction in which anyone interested could invest in the development of the coin). The bidding, which included 20,000 Merca worth 100 Bitcoins, was successful, with nearly 5% e-coins sold during the first stage. Merca is not a cryptocurrency in the broad sense of the word; it can only be traded within the platform. Its value is backed by a legal agreement between the exchange (as its seller) and the platform user (acting as a buyer). It will be possible to receive dividends according to the percentage specified here. The settlement will begin after the exchange passes the break-even point.

Registration here is fast, verification is recommended, but not obligatory. If you refuse it, you should be prepared for limitations on withdrawal amounts, but if you only plan to conduct modest transactions, this is insignificant. Those who intend to engage in full-fledged trading should verify the account because it will increase the safety of funds (How to Make Money on Cryptocurrency?). After completing the procedure to confirm the identity of the trader, you can move directly to the trade.

 

How to Exchange Cryptocurrency on the Platform mercatox.com?

To make a cryptocurrency exchange on the exchange, the user must first go to the “Trading” section and take a few simple steps:

• choose a trading pair to exchange;
• fill out an order specifying the amount of cryptocurrency to be exchanged;
• click on the buy/sell button, depending on your goal.

The platform allows clients to work either with their own funds or with leverage. Each of its users can become both a creditor and an investor. To do this, it is allowed to raise any amount of funds and use the option of margin trading. Investor invests funds absolutely safely and then gets profit from them. A handy terminal is implemented TradingView which has the necessary data for a detailed market analysis of each cryptoasset. All questions arising from it can be asked to traders or the support service via chat.

Any currency pair can be selected for trading. In e-currency Markets with registered coins, the pair is always Bitcoin, on Crypto Markets pairs are formed from any tokens. First, you need to select an order from three available options: market order, stop order, and limit order. In the case of a limit order, the user immediately indicates the maximum price at which he is ready to make a purchase or its minimum value to sell the cryptocurrency. When selecting a market order, one can count on its execution at the best price at the time of publishing the order. The third option, a stop order, is good with the ability to turn into a market order as soon as the platform offers the necessary price. All trades are subject to the same commission of 0.25%.

The number of crypto-assets on the platform is constantly increasing. Usually, the user pays for the introduction of a new coin, after which there is a vote of customers participating in the loyalty program. Before that, it is necessary to provide the technical service with all the information on the asset, etc. There is another option to add a coin – direct payment, which can range from 0.5 to 5 Bitcoins. Adding an asset takes from 3 days to 3 weeks. The administration reserves the right to personally introduce new crypto coins if it considers them promising.

 

Verification on the Mercatox Platform

Verification is a mandatory process on the exchange and consists of several steps. For unverified users the daily withdrawal limit is 0.5 BTC, and for verified – 5 BTC. First, the client must register an account and confirm their email by clicking on the link in the letter that was sent to the specified address. Then the trader has to go to his profile and fill some data:

• first and last name;
• country of residence;
• city;
• address;
• zip code;
• date of birth;
• cell phone number.

The next step is to upload a number of documents:

• Scan or color photo of a document proving your identity (passport, driver’s license, ID card);
• photo of the user with the ID card and a sheet of paper on which the current date is written).

 

 

Fund Deposit and Withdrawal

On the site mercatox.com the deposit and withdrawal procedures are simplified as much as possible. To perform them correctly, you only need to know the simple rules:

• All of these transactions go through the site’s electronic wallet. Mercatox offers its customers two types of internal wallets – “Business” and “Personal”. By registering the “Personal” wallet, the client will be able to instantly transfer funds within the exchange, withdraw them outside the exchange, deposit funds without commission and pay for purchases. The “Business” wallet is suitable for traders working with large sums.
• If the account is funded, but the transferred amount is not reflected on the balance, you need to send a request to support with the subject “Missing deposit”. It should be taken into account that transactions in Blockchain are not instant and they need to be controlled in the “Confirmations” section.
• There is no support for fiat money.
• There are restrictions on the withdrawal: those who refused verification, for 24 hours can withdraw no more than 0.5 Bitson, those who have passed it, available 5 Bitson / day.
• You can confirm the withdrawal of funds in two ways – by clicking on the link that the system sent to the e-mail or by using the Google Authenticator.

Crypto Exchange Commission

A single commission of 0.25% of the transaction amount is provided for both makers and takers.

Withdrawal Fee

If there is no commission for depositing on the platform, the withdrawal fee depends directly on the type of cryptocurrency. For example, to withdraw Bitcoin, you will need to pay 0.0003-0.0005 BTC and to withdraw Ethereum – 0.002 ETH.

 

Mercatox Bonuses

The company has developed a loyalty program for its customers. The following users can participate in the program:

• youtube bloggers;
• community owners on the social network;
• analysts.

Customers can perform the following actions and receive privileges for doing so:

• reposting the latest exchange news on social networks;
• Maintaining topics about the company in popular forums;
• translating and maintaining Bitcointalk topics;
• Running a section about the exchange on your own site or blog.

In turn, the company will reward customers and provide a reduced commission on trades, a dual affiliate program, pay annual fees for assets in the wallet, and users will have a privileged vote in voting for the listing of new digital assets.

 

Referral Program

An affiliate program has been developed for traders who want to earn passive income. In the framework of the program clients can attract new participants to the project and receive remuneration for this. A total of two levels of referral program is provided:

• Referrals of the first level – 15% of the amount of commission.
• Second-level referrals – 5% of the commission amount.

 

 

Complaints About Mercatox

Mercatox Exchange frequently and quite deservedly receives praise from clients. According to a number of regular traders, it works in a stable mode, but some traders believe that the administration is not too diligent in its development. At the same time, they refer to the fact that a number of promised options either do not exist, or they began to work with a delay. However, the support service responds to all appeals from customers around the clock, and if there is a delay with the introduction of new features, it is only because the developers are trying to work them out thoroughly. Sometimes there are problems with logging into the site mercatox.com but often this is due to overloading of the network, etc.

Each user is allowed to suggest a new token for the platform. Traders value the interface of the resource. In addition, equity participation in the project is also offered. In general, the resource is great for both beginners and experienced players, opening new horizons in crypto trading for them.

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Crypto Exchange Regulation

October 12, 2015, is considered the official launch date of Mercatox. On the official website mercatox.com there is no information about its regulation and certification, and the address of its headquarters is not given. The protection of personal data is ensured through a verification procedure, which is available as a two-factor authentication that takes place either through Google Authenticator software or via email.

According to the “Terms of Use of the exchange”, only persons over the age of eighteen are allowed to operate here. It is necessary to comply with all requirements of the administration, as well as the laws of the country in which the client resides. Users are advised to read the “Privacy Policy” of the exchange to know how it uses their personal information. The platform reserves the right to cancel a trader’s registration at any time without giving a reason. 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.

The client cannot use his account for commercial purposes, he will have to comply with the requirements of the resource, which actively supports the fight against money laundering. If the site suspects fraud in transactions, the client’s account will be blocked. By agreeing to the “Terms of Use”, he waives all claims, including those of a legal nature, to the platform, if he incurs losses during operations, network interruptions, etc. The maximum that the exchange will do is to return the amount transferred to the wallet, if it was lost.

Read the “Terms of Use of Mercatox” on the exchange site
Read the “Mercatox Privacy Policy” on the exchange website

Mercatox.com User Agreement

“User Agreement” – is the main document of the project, which provides information on the rules of trading activities, as well as the duties of clients and organizers. Each user must read the agreement before starting registration on the exchange site. Let’s consider some points in more detail.

The agreement specifies that by using the service, the client fully accepts the terms of the agreement and agrees to all of the terms, conditions, and notices contained in the document, as well as the fact that the document and all notices will be provided electronically. If the user decides to cancel the agreement, the user undertakes to stop using the platform and close his account. It is also necessary to take into account the fact that the document may change from time to time and these changes will take effect as soon as they are posted on the company’s website.

The agreement is valid when using the services or account. The client has the right at any time and for any reason to close his profile on the site, following the instructions set out on the service. Also, the organizer can terminate or suspend the user’s account at any time without prior notice in case the organizer is convinced that the client has violated the current agreement or for any reason at its own discretion. The company may not disclose the reason for the termination or suspension of the account.

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.

The user understands and accepts that the company, its affiliates, and partners disclaim responsibility for any losses or damages, direct, indirect, general, special, compensatory, incidental, and/or consequential, arising from or in connection with the interaction of the client with the platform. In turn, the trader must take all precautions in interaction with the platform and other users. The client should read the agreement and act on the basis of safety rules.

The user also assumes full responsibility for the information he or she posts on the platform site, namely text messages, chat, profile, and published or transmitted data. The client has no right to publish or transmit to other users or the service any abusive, untrue, incomplete, profane, obscene, threatening, intimidating, racially offensive or illegal material or material that violates the rights of others. You are assured that you provide only accurate and truthful information and will update it as necessary.

The data provided on this site does not constitute advice, trading advice or any other advice and the user should not construe the content as such. Nor does the information provided constitute an offer to buy or sell coins. Nothing on the platform shall be construed as an offer to buy, sell, or hold digital assets. The Client trades solely at his or her own risk and assumes responsibility for the execution of the transaction. Before making a transaction, the trader should conduct due diligence and consult with his or her own advisor. It is also worth taking into account that trading activity itself is quite a risky process.

The company has the right at any moment to change or temporarily/forever discontinue the service or any part of it with or without prior notice. The client understands and accepts the fact that the organizer declines responsibility for any change, suspension, or termination of the service. To protect the integrity, the organizer can at any time at its discretion block access to the platform by users from certain IP addresses.

The user also acknowledges and accepts that under no circumstances shall the organizer, its partners, licensors or service providers be liable to clients or third parties for any incidental, punitive, indirect, special, or exemplary damages, including, but not limited to, loss of profit, loss of reputation or disruption of data or programs, interruption of services and the provision of alternative services. These rules apply even if the company has been advised in advance of the possibility of loss and regardless of any provisions, the organization’s liability will be limited to the amount that the client has paid for services. Any claims and lawsuits must be filed by the trader within one year after the occurrence of the claim.

Customer Service

You can contact the support team in one of the following ways:

• Email: [email protected]
• Technical support center: support.mercatox.com
• Help center and tickets
• Social media

 

Is Mercatox a Scam?

Mercatox is a multifunctional and dynamically developing trading platform that has every reason to become one of the leaders in the digital market (The whole truth about cryptocurrency). Here you can perform operations using one of three types of orders – limit, market, or stop order. It is possible to choose any cryptocurrency, and if desired, to apply to add a new token to the list of cryptocurrencies of the site mercatox.com. To do this, you will have to deposit money or wait for the loyalty program participants to vote for the coin. A client willing to engage in promoting the platform can count on all sorts of incentives: discounts on transaction fees and even individual cooperation options.

There is a popular cryptocurrency wallet My Wallet, which is convenient for quick deposits and withdrawals. There is no work with fiat currencies yet, but the creators of the site are already thinking about changing the policy of the exchange on this issue. The service charges a very modest fee for services, its size is always the same, regardless of the volume of funds transactions. The administration is responsible for the security of the service, so it offers users a two-factor authentication and verification. Those who are against the identification procedure can do without it, but in this case, you have to limit your withdrawals to 0.5 Bits per day (How to make money on Bitcoin?).

The exchange issues its own token, warning that it is not a coin, but a security that can be sold, etc. This is also an opportunity for users of the system to turn into Mercatox co-owners. Still, should one of the successful cryptocurrency exchanges Mercatox be defined as a scam? It’s better to take your time when making conclusions, as there are many tools and options available that can help traders make more profitable trades.

 

Conclusion

Mercatox was designed to be an ideal resource, offering a payment service, peer-to-peer exchange, and trading terminal. Today, it is a unique project in the world of electronic money. The developers have successfully combined the most popular and useful features for traders, and their presentation and pleasing visual design continue to improve the resource. Here, the wishes of customers are taken into account, and the developers constantly strive to enhance the user experience.

Project Editorial Revieweek does not consider the Mercato crypto exchange to be a scam or fraud. The rating of the site may change after new reviews of traders appear, but for now, the service deserves respect. The exchange is interesting for cryptocurrency traders from all over the world, and they often evaluate it positively, showing that the company is on the right track.