RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Mercatox

Mercatox Exchange Review

Centralized

Mercatox Overview

  • Mercatox is a UK-based cryptocurrency exchange. They offer a variety of services in an attempt to appeal to traders, including: a multi-currency e-wallet, margin trading, lending, and franchising capabilities as well as referral and loyalty programs. They purport to make it easy to perform peer-to-peer trading of digital assets.

    On their site, Mercatox touts that they offer “unique currency pairs.” They have listed a number of more obscure alt-coins alongside the more well-known currencies like bitcoin, ethereum, dogecoin, and dash.

    Mercatox’s trading platform has a built-in chatroom that loads alongside it which appears to encourage a more social trading experience — although it’s worth noting that in the process of researching Mercatox, we watched the same message for joining a mining scheme spammed repeatedly to the live chat room, suggesting a need for better moderation.

    Mercatox exchange emphasizes on their website that the security of the customer has a high priority. However, unlike others, they do not specify which safety measures they use but advice their customers on how to keep their accounts safe.

    Mercatox offers a fixed trading fee of 0.25% and different withdrawal fees for all currencies. Minimum amounts of withdrawal also differ depending on the currency and account used and can be found on the website. Unlike others, Mercatox also has a minimum amount for a deposit, depending on the currency, that indicates that the site is less suitable for beginners.

    Many payment methods like Perfect Money, OkPay, Yandex Money, etc. and fiat currencies like USD, EUR, and RUB are supported by Mercatox. However, they do not accept credit cards and bank wire transfer. 

    Mercatox also offers many benefits for loyal customers, like a two-level affiliate program, loyalty programs (customers get rewarded for promotion through points and privileges) and lower rates. 

    Mercatox Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      1628.387 BTC

      • Mercatox Total Trading Pairs

        361

        • Mercatox Margin Trading

          Yes

          • Mercatox Deposit fees

            Free

            • Mercatox Fiat Deposit

              None

              • Accepted Payment Method

                None

                • Mercatox Native token

                  Yes

                  • Native token smart contract

                    N/A

                    • Mercatox Trading Markets
                      • Mercatox Stablecoins trading

                        Mercatox Withdrawals

                        • Daily Withdrawal Limit

                          unverified users - 1 BTC, verified users - 10 BTC

                          • Mercatox Withdraw fees

                            ETH – 0.002 ETH

                            LTC – 0.002 LTC

                            Full list of fees can be found here

                            • Mercatox Withdraw fees discount

                              N/A

                              • Proof of Reserves

                                N/A

                                Mercatox Exchange Rating Analysis

                                Last edit 19.07.2019

                                • Mercatox lists useless coins almost as quickly as it is gaining notoriety. The UK-based exchange was hacked on 17 September 2018, while users lost their coins stored on the exchange.

                                  Although Mercatox claims that they keep most of the funds using cold wallets and that they use 2 factor authentication on withdrawals, the exchange does not seem reliable at all – and the team is completely anonymous. Apparently, Mercatox has very high volumes, who also look very suspicious.

                                  We have a hard time believing Mercatox could fend off another attack, once it becomes lucrative enough for hackers to target.

                                   

                                  Mercatox Exchange Additional Information

                                    • Mercatox Headquater

                                      United Kingdom

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