Review on Mercatox by Ayu Anggraini

Name: Mercatox
Item: Mercatox
Rating: 2

May 27, 2020

What is bad about mercatox exchange?

Mercatox is an unregulated crypto currency exchange platform located in the UK. 
 If you want to trade and hunt coins at Mercatox, never put more than what you can afford to lose. Mercatox has been operating for years and has active users from various parts of the world reaching almost 1 million people.
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 But unfortunately not under the supervision of regulators such as the Financial Conduct Authority in London and other regulator. 
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From its reputation, this exchange has a bad rating caused by withdrawal problems that have always been experienced by users to date, poor rating trust scores, bad reviews, Shady ownership, lack of regulation on this exchange so there is no insurance for user capital in this exchange if you lose it.
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 What I hate is that Mercatox does not only charge fees to market takers & makers, but even just to close orders on trades, you will still be charged!
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 In addition, this exchange often allows scam projects that have no real use cases, no platforms, no teams and real development to continue trading at Mercatox.
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 The last time I traded at Mercatox, I found one coin whose price had been dumped from 100 satoshis to 10 satoshis due to a large dump by a developer who was holding a large supply of coins.
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 The coin developer sells most of his coins after growing interest in the community with a variety of news and then did an exit scams. Mercatox does not filter coins that will be listed there and as an exchange, instead facilitates various scammy projects to be able to trade there.
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 Mercatox trollboxes are also filled with many people who promote various links, pump news and are not handled by moderators. 
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 Not to mention the incident in 2017 website when the exchange has been hacked. 
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 In terms of design and interface, Mercatox has an easy to navigate interface and convenient design. Currently Mercatox has more than 581 trading pairs. However, the volume of the exchange which has been operating since 2015 scored a huge number 16.36M in 24 hours which is doubtful of its authenticity. 
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There is no information about mercatox ownership which adds to the long list of a bad reputation. As an investor I will not risk losing my capital by trading on mercatox.
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