Mercado Athena Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Mercado Athena consists of four parts: general information, fees, deposit methods and security.
Mercado Athena is the Chilean counterpart of BitQuick. From a technical perspective, it is essentially the same platform but under another name.
The only cryptocurrency you can trade here is BTC. If you want to trade the less known coins (Centrality, Ethbits Token, Neutron Coin, Pareto Network Token, Rebellious Coin, or any coin with a similar market capitalization to those), you’ll have to look elsewhere.
Something worth considering with this exchange is that it has an industry-exclusive seller’s guarantee. It works as follows. As long as sellers correctly confirm deposits on time (within 3 hours upon request), those deposits will be covered by Mercado Athena in the event of a fraudulent transaction. This is quite rare among cryptocurrency exchanges. Mercado Athena also heavily arbitrate transactions and do KYC/AML evaluations to weed out fraud.
On the date of last updating this review (18 July 2019), the exchange states on its website that it has served 36,296 customers since it started its services.
There is no information at all on the website regarding the team behind the platform. This raises a bit of a red flag in our view. The site has a section called “The Team”, but under that section there’s only the company logotype, being an owl.
Mercado Athena Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the landing page at Mercado Athena, where you also can find the order boxes you need to purchase Bitcoin there:
Mercado Athena Fees
This exchange’s fees consist primarily of service fees and mining fees.
The fees here are simple to understand. Buyers pay 3.50% of the total order value of the trade as a fee to BitQuick. Sellers pay nothing at all (save for the mining fee mentioned below). So if you’re a seller looking to divest some BTC, this might be a good place to start.
Mining fees are fixed at 0.0001 BTC for BTC-deals (recently lowered from 0.001 BTC). 0.0001 BTC is indeed a competitive mining fee
More on these fees below.
Mercado Athena Trading fees
Mercado Athena is different from most top crypto exchanges in the way that it does not offer trading between cryptocurrencies. The only service offered is facilitating buying and selling BTC. You can view Mercado Athena as a market place where buyers and sellers meet in order to agree on transactions. But Mercado Athena takes a 3.50% service fee (from the buyers) and a 0.0001 BTC mining fee. 3.50% is quite high when comparing to centralized exchanges, where the industry average trading fee is 0.25%. It is worth keeping in mind though that the services offered by this platform differ substantially from the services typically offered by centralized exchanges.
Mercado Athena Withdrawal fees
Considering how this exchange operates, withdrawal fees are irrelevant. One could, however, view the 0.0001 BTC mining fee (charged in every trade from both buyers, sellers and affiliates for transactions that Mercado Athena sends) as some sort of withdrawal fee.
This exchange do not allow wire transfers or credit card deposits. Only cash deposits are accepted here.
Mercado Athena Security
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information.
- Exchanges naturally also deal with a lot of cash or coin deposits and withdrawals.
This exchange’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges. However, it should be noted that in absolute numbers, F is the most common score among all cryptocurrency exchanges in our Cryptocurrency Exchange List.
Finally, we hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: