Analysis of the Mercatox Cryptocurrency Exchange
Scam projects in the cryptocurrency industry are less common compared to Forex. This is explained not so much by the honesty of the creators as by the fact that digital currencies are just starting to attract traders’ attention. One of the new and ambitious players is the cryptocurrency exchange Mercatox. Let’s explore what this platform offers and how much it can be trusted.
Overview of Key Information on Mercatox.com
Established in 2015, the cryptocurrency exchange Mercatox initially did not have any significant differences from other projects. However, to retain existing and attract new clients, the company’s management decided to introduce several experimental innovations that soon proved successful.
Among these innovations are:
- provision of loans to clients,
- use of smart contract system for transactions,
- powerful multi-currency exchange platform,
- proprietary trading system that allows trading cryptocurrencies without additional exchange.
In terms of localization, developers did not bother with translating the Mercatox.com website. The exchange is supported in English, Russian, and Chinese languages. Information from Whois confirms the platform’s official status, as well as positive user reviews.
The cryptocurrency exchange has demonstrated good results in terms of traffic and adaptation.
Overview of Trading Accounts on Mercatox.com
Mercatox is a decentralized P2P cryptocurrency exchange. It offers a single trading account with a 0.25% commission and a two-step authorization process, which is not very common in the world of cryptocurrencies. Margin trading is also available, which is an advantage of this platform. Let’s look at the terms in more detail:
Interesting Fact: the presence of an integrated wallet with a wide range of payment instruments, allowing not only to store funds but also to make direct payments and receive payouts in cryptocurrency.
Payment gateways on Mercatox.com allow deposits using various methods. There are no official limitations on withdrawals; however, each payment system, except for cryptocurrency wallets, sets its own internal limits, which can be found in the user’s account.
The registration process on the platform is standard, and verification is not required, allowing users to register on the site within 10 minutes according to user reviews.
Overview of Registration Data on Mercatox.com
The Mercatox cryptocurrency exchange operates on blockchain technology provided by the community, which helps prevent hacks. Customer payment information remains inaccessible to the service provider (only available to its own partners through a direct deal). The company managing the website and brand is based in London, UK, without a license or regulator, due to the absence of official cryptocurrency status in the country. User reviews do not indicate unauthorized access to accounts.
Remember that along with the advantages, be vigilant because there are fraudulent schemes in the world of cryptocurrencies exploiting the popularity of blockchain and bitcoin.
To be continued…
Conclusions about Mercatox.com
Mercatox is a British P2P cryptocurrency exchange, offering the opportunity to trade various digital coins with a moderate commission. Among the drawbacks, it is worth noting the lack of support for bank cards and direct currency transfers, as well as mandatory fees for operations and fund withdrawals. The decision to cooperate with this exchange remains with you, considering the risks of trading and possible fraudulent scenarios associated with blockchain.
Author: Irina Sherbul
Read also: P2PB2B: a review of the cryptocurrency exchange and company reviews.
I am extremely dissatisfied with Mercatox broker’s work due to the lackluster trading conditions, subpar service quality, and overwhelming amount of negative user reviews.
Mercatox is a cryptocurrency exchange that offers detailed trading conditions, a certain level of service quality, and mixed user reviews.