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 Mercatox consists of four parts: general information, fees, deposit methods and security.
Mercatox itself states that it is a “modern service for accessing e-currency and cryptocurrency exchange markets” and furthermore that it is a “convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced traders as well as beginners.” We agree with that statement based on our impressions of Mercatox.
Mercatox does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).
Verified & Unverified
Mercatox – like many other exchanges – makes a difference between unverified accounts and verified accounts. With verified accounts, the withdrawal limits is higher. Unverified accounts can still make BTC withdrawals limited to 0.5 BTC per day. If you are a verified account holder, you can withdraw up to 5 BTC per day.
The below is a snapshot of Mercatox trading chart that you can study in further detail. It feels intuitive to us and makes perfect sense throughout.
Mercatox Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The level of the flat trading fee is 0.25%. This is perfectly in line with the industry average that is arguably also on 0.25%.
Mercatox Withdrawal fees
Mercatox charges a withdrawal fee amounting to somewhere between 0.0001 BTC and 0.005 BTC when you withdraw BTC. This is an unusual fee determination as the withdrawal fee is usually just a fixed amount of BTC. It is not clearly presented on the website on what basis the withdrawal fee is set. Should the withdrawal fee bee 0.0001 BTC, it is low. Far below the industry average. If it would be 0.005, it would be one of the highest withdrawal fees we have ever encountered. Accordingly, we strongly urge you to make your own analysis of the withdrawal fees at Mercatox before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors can’t trade here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. In order to find exchanges that accept deposits of fiat currencies, use our Exchange Finder here.
Mercatox’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
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: