Registered in the UK, Mercatox is a cryptocurrency exchange allowing traders to access popular coins like Bitcoin, Litecoin, and Ethereum, as well as an extensive list of other rarer cryptocurrencies.
Launched in 2016, it also provides an e-wallet for storing multiple digital currencies and has launched a peer-to-peer lending platform to allow investors to lend money to cryptocurrency traders. It can be accessed from a wide range of countries around the world, including the US, and accepts different fiat currencies such as USD, EUR, and RUB, but not GBP. It does not allow for credit card or bank transfer deposits, instead accepting payment methods from providers such as OKPay, Yandex.Money, QIWI, leading to much speculation that the exchange is based in Russia.
Mercatox imposes minimum limits on the amount you can deposit and withdraw, with restrictions varying depending on the currency. The exchange has had no major security issues. It was unsuccessfully targeted by hackers in October 2017 causing the website and platform to be down for a day or two, but the coins remained safe.
It is not licensed by the Financial Conduct Authority, nor by any other regulator and there is no publicly available information on its founders or the team behind it.Read More