Mercatox

Mercatox Review

What is Mercatox?

Mercatox is a centralized cryptocurrency exchange from Canada. It has been active since 2015. The platform itself states that it is a “modern service for accessing e-currency and cryptocurrency exchange markets” and furthermore that it is a “convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced traders as well as beginners.” 

Mercatox Advantages

As three of its advantages, the exchange states that it has low fees, a loyalty program and an affiliate program. We will go into more detail on the fees below (see Mercatox Fees), but we can already here say that the fees are not low. They are at best in line with industry average.

Trading Volume

The platform launched in October 2015 and on 18 July 2019, they informed on its website that it had 579,071 users. These users had in aggregate executed 17,537,044 deals totally worth 651,791 BTC. On the same date, the platform’s 24-hour trading volume was USD 16.2 million, giving it place no. 84 on the list of the exchanges in the world with the highest 24-hour trading volumes.

On the date of last updating this review (2 December 2021) the 24-hour trading volume of this exchange was around USD 36 million, according to Coinmarketcap. On the same day, however, Binance was on place no. 1 in the list of the exchanges with the highest 24 hour trading volumes with a trading volume in of USD 30 billion (with a "b", not an "m")...

US-investors

Mercatox does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship. In a worst-case scenario, they may not be able to trade at one or several exchanges that could be the best cryptocurrency exchange site for them (maybe including this one).

Verified & Unverified

Mercatox – like many other exchanges – makes a difference between unverified accounts and verified accounts. With verified accounts, the withdrawal limits is higher. Unverified accounts can still make BTC withdrawals limited to 0.5 BTC per day. If you are a verified account holder, you can withdraw up to 5 BTC per day.

Mercatox Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Mercatox:

Mercatox Fees

Mercatox Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers are so named because their orders make the liquidity in a market. Takers are the ones who remove this liquidity by matching makers’ orders with their own.

This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. The level of the flat trading fee is 0.25%. This is perfectly in line with the industry average that is arguably also on 0.25%.

Mercatox Withdrawal fees

Mercatox charges a withdrawal fee amounting to somewhere between 0.0003 BTC and 0.005 BTC when you withdraw BTC, depending upon how fast you need the withdrawal to be confirmed. If you pay more, the transaction will receive a higher priority, and if you pay less, it will receive normal priority and might take a few days. 0.0003 BTC is below the industry average.

Deposit Methods

This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors can’t trade here. If you don’t have any crypto but want to start trading here, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. In order to find exchanges that accept deposits of fiat currencies, use our Exchange Finder here.