What is Mercatox?
Based in the UK, Mercatox is a cryptocurrency exchange platform with more than 280,000 users. As well as popular cryptos like bitcoin, Litecoin and Ethereum, it allows traders to access an extensive list of other, rarer cryptocurrencies.
Mercatox also offers an e-wallet where you can store multiple digital currencies and has plans to launch a peer-to-peer lending platform to allow investors to loan money to cryptocurrency traders.
Mercatox can be accessed by Australian users and traders from a wide range of countries around the world. For a full list of supported countries, please contact Mercatox.
Which deposit methods are accepted?
Mercatox accepts deposits in the following cryptocurrencies:
You can also deposit US dollars (USD), euros (EUR) or Russian rubles (RUB) using one or more of the following electronic payment methods:
- Perfect Money
- Yandex Money
Mercatox fees and charges
Mercatox charges a 0.25% fee on all trades placed through the platform. While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw. Some sample withdrawal fees are shown in the table below, but you can visit the Mercatox website for a full list of charges for all currencies.
|Bitcoin (BTC)||0.0001 – 0.005|
|Payeer (in USD)||1.5|
|Perfect Money (in USD)||0.95|
|Perfect Money (in EUR)||0|
|OKPAY (in USD)||0|
|QIWI (in RUB)||1|
Are there any transfer limits?
Yes. Mercatox imposes minimum limits on the amount you can deposit and withdraw, and these restrictions vary depending on your chosen currency. A sample of these limits for some popular currencies is listed in the table below.
|Currency||Minimum deposit||Minimum withdrawal|
|Payeer (in USD)||1||2|
|Perfect Money (in USD)||0.01||0.1|
|Perfect Money (in EUR)||0.01||0.1|
|OKPAY (in USD)||0.01||0.1|
|QIWI (in RUB)||50||100|
For a full list of transfer limits, visit the Mercatox website.
Please note that limits also apply to instant withdrawals as follows:
- For unverified users: 0.5 BTC or equivalent per 24 hours
- For verified users: 5 BTC or equivalent per 24 hours
Is Mercatox safe to use?
Mercatox encourages users to set up two-factor or two-stage authentication to increase the security of their trading funds.
It’s also important to consider the security and stability of any platform before depositing funds, as crypto exchanges are a common target for hackers. For example, on 2 January 2018, Mercatox posted the following on its Facebook page:
“Due to high overload of our system and attempts of DDoS attacks we forced temporarily suspend website for upgrading our hardware and software. The service will be restored as soon as possible. All coins are SAFE! Sorry for inconvenience.”
It’s a good idea to research online forums and trusted cryptocurrency websites to stay abreast of the latest news and developments regarding the security of any exchange.
If you need help with a transaction or you’re unsure how to use Mercatox, you can access live chat customer support through your Mercatox trading account. You can also get in touch with the email support team.
Pros and cons
- Access to an extensive range of cryptocurrencies
- Transparent 0.25% fee on all trades
- Multi-currency e-wallet
- Ability to place limit, market and stop orders
- Loyalty program that rewards users who promote the platform
- Limited information available online
- No credit card or bank transfer deposits
- Withdrawal limits and fees apply
- Low trading volumes on many currency pairs
- No mobile trading app available
If you’ve compared several cryptocurrency exchanges and you’d like to open an account with Mercatox, you can do so by following the link on this page to the Mercatox website. You’ll need to provide your email address and create a password to open an account and start trading.
However, you can verify your account by providing your full name, address, contact details and two pieces of ID, which allows you to access a higher daily withdrawal limit. We also recommend that you set up two-factor authentication to provide an extra layer of security for any funds you deposit into your account.