Mercatox

Mercatox takes the security of clients’ personal data and funds very seriously so it takes the necessary protection measures and constantly monitors fraudulent activities. In addition, it adheres to the anti-money laundering (AML) policy aiming to fulfill the requirements of the international rules and regulations. This means that the platform can deny or withhold any deposit made against this policy. However, it is not licensed by any financial regulator.

Users are required to go through the Know-Your-Customer (KYC) procedure to verify their accounts and be able to trade, deposit, and withdraw funds. To add an extra layer of security and ensure that only they can access their accounts, they can set up two-factor authentication (2FA) on their accounts.

So far, the exchange has had 2 security issues. In October 2017, hackers made the website and platform unavailable for a couple of days. However, users’ funds remained untouched. On September 17, 2018, Mercatox had another hacking incident when some hot wallets were compromised. After the incident, the team released a message assuring users that their coins were safe.

Mercatox features

Mercatox has a plethora of attractive features that include a large selection of cryptocurrencies, a user-friendly interface, peer-to-peer exchange of digital assets, an e-wallet, instant transfers, low rates, API, an affiliate program, and a loyalty program.

The Mercatox loyalty program rewards its participants for promoting the exchange. For the help they provide, they obtain points that can be exchanged for some privileges. These include discounts on trading fees, a dual affiliate program, and the annual interest on assets in Mercatox wallets. To get rewards users need to perform one of the following actions: repost the platform’s news on social networks, create and manage topics about Mercatox on popular forums, translate topics on Bitcointalk, or maintain a column about the exchange on their blogs or websites.

Besides, users can take part in the Mercatox affiliate program to earn additional income. All they need to do is to invite their friends to trade on the platform. They can receive a percentage of the commission for each transaction made by their referrals. In particular, the bonus is 15% for first-level referrals and 5% for second-level referrals.

Mercatox users have a right to vote for the new coins to be listed on the exchange. They get 5 free votes per month, in case they make at least one deposit from the moment of registration. In addition, they can purchase an unlimited number of votes with points earned in the loyalty program. To get listed, a coin must receive at least 5,000 votes.

The exchange provides users with a multi-currency e-wallet where they can keep all their cryptocurrencies. End-users can deposit and withdraw digital assets, send and receive transfers within the system, and pay for purchases. At the same time, businesses have the possibility to accept payments on their websites through API integration. The Mercatox wallet can be downloaded immediately after registration.

Developers can add their tokens to the exchange via direct payment or via voting. Priority is given to paid listings, the cost of which is calculated individually. Programmers are required to provide API documentation and information about the coins, as well as links to the official node repository and the coin explorer. New ERC20 tokens must be verified before being added to the exchange. Besides, Mercatox provides an API for developers and can be integrated into a website if required.

The Mercatox Trade provides a list of all available crypto markets, a rich choice of indicators, and buy and sell boxes. The candlestick chart comes with such options as Hollow Candles, Heikin Ashi, Baseline, Area, and Line. In addition, it offers several order types, such as limit orders, market orders, and stop orders. Also, there is an active chatbox where traders can interact with each other and share information about cryptocurrency trading, or get quick help concerning the use of the platform. To stay up-to-date with the news of the platform, users can reach its social media pages on Facebook, Twitter, Instagram, and Telegram.

Fees and limits

Mercatox charges a commission for all trade transactions in the amount of 0.25% of the trade volume. Internal transfers between users are subject to no fee. The platform set minimum limits on the amounts that can be deposited and withdrawn as they are determined by the type of currency. The same applies to withdrawal fees. For instance, the withdrawal fee for Ethereum is 0.008 ETH while the minimum deposit is 0.008 ETH, and the minimum withdrawal is 0.016 ETH. The withdrawals limit for unverified users amounts to 0.5 BTC or the equivalent per day. Verified clients are able to withdraw 5 BTC. Withdrawals require confirmation by e-mail or by Google Authenticator.