Review on Mercatox by Temitope Babatunde
Mercatox, How Much Did You Know About It
Mercatox is base in United Kingdom, but the team behind it remain anonymous which is one of the red flag for the exchange. The exchange has more than 280,000 users, the language of the website is in English, Russian and Chinese.
The exchange can be described as multicurrencies because it not only accept cryptos and fiat deposit but it also accepts some e-wallet like perfecmoney, okpay, and Yandex money. It has a fixed trading fee of 0.25% which is considered to be too much in the market. It has different withdrawal fees for different coins. Because it has minimum deposit it may not be all that good for beginners who doesn't have much to test the crypto market.
Mercatox avail its users different forms of trading like margin trading, franchising capabilities, lending etc. The platform renumerate its users that are loyal to it by giving them certain privileges also it tends to attract customers by having up to 2- level of affiliate programme.
The exchange was hacked in 2018 and up till now one can not say with certainty that the team has put good security measures in place to forestall the reoccurrence of 2018 event.
One can contact the customer care department through the chat room on the platform or through email.
Pros
- Various means of deposits on the platform, even one can use e-wallet like perfecmoney.
- Loyal customers are being rewarded.
- Good customer support service
- Offers margin trading.
Cons
- High fee for trading
- Because of the minimum deposit not all that good for beginners.
