You have seen our ranking of the most used exchanges and you wonder which exchange to buy cryptocurrencies on ?
Here is an analysis of Mercatox, one of the most volume-generating exchanges for cryptos that are still not very well known.
Mercatox is an exchange with the particularity of offering cryptocurrencies that are still not very well known on the market, so it is “The Place to Be” to buy cheap cryptocurrencies with a high pump potential if they are then listed on larger exchanges like Binance.
Mercatox has to date (08/02/2019) a trading volume of more than 5 million dollars, which is certainly well below the biggest in the sector, but which is quite honorable for an exchange that almost exclusively offers not generally known coins.
This type of exchange is perfect for more experienced people who are willing to take more risks on cryptos with a higher pump potential.
The interface is quite simple to use, but still requires a short adaptation time.
Registration is very fast, it is possible to trade on the platform very quickly without having filled in a KYC.
About a hundred recent crypto-currencies are available and one or two cryptocurrencies are added every day.
However, it should be noted that the platform only offers the order type “Limit”, and not “Stop” or “Market” which had to be added a long time ago.
The scores are out of 20, they are subjective, you may not have the same appreciation for them.
User Interface 18/20: It includes the general opinion of the interface, its reactivity, its coherence, its efficiency and the user friendliness of the exchange for a beginner
Means of protection 17/20: Exchange and connection on the platform are taken into consideration.
Customer Service 15/20: We deal here with the responsiveness of customer service.
Choice of currencies 19/20: For the number of cryptocurrencies present on the platform, as well as their volume of exchange.
Fees 18/20: Level of fees in comparison to other exchanges.
The interface is quite simple to use although it still requires some time to adapt.
See for yourself
On the left are the sale orders and on the right the purchases orders, at the very bottom you can find the history of the market as well as the history of your orders.
Choice of currencies
Mercatox offers a hundred different cryptocurrencies, however, more than half do not offer a very large volume, or even a zero volume.
For Mercatox only the purchase of little-known corners, for the most famous tokens consider using more popular exchanges.
Deposits and withdrawals on the platform
For deposits, there is no limit to the amount you can send to Mercatox. Please note that it is not possible to deposit FIAT currencies on the site.
For withdrawals, nothing easier, just enter the address of the wallet where you want to send your tokens, be careful if you send an altcoin, to check that it is present on the platform. Otherwise you may never receive the sent tokens. See the tutorial made on this subject by clicking here.
Fees are different from one token to another.
For example, for the BTC it varies between 0.0001 and 0.005, for the ETH they are high, at 0.002.
I invite you to look at the list provided by the site, all their corners are present.
The means of protection
To connect to Mercatox, the platform has two integrated functions that you can activate. There is the dual authentication function to make accounts difficult to hack. Indeed, to connect to Mercatox if you have this function activated, you must of course have an account but you must also enter the code “Google Authentication” which is an application available on your mobile and which will allow optimal security because without this code a person will have your account IDs but will not be able to connect to it without using your mobile.
The second option is “Authentication by email” to receive a confirmation email with a secure link to connect to the platform.
Customer service is quite slow but will be available to help you.
Mercatox offers a FAQ page, that is not very complete.
A word from the CIA
Mercatox has distinguished itself from exchanges by its offer, the possibility to buy and sell very recent corners which will delight traders looking for projects with high growth potential. However, we do not recommend it for all other beginners who only want to invest in safer projects, as Mercatox has many scams you need to be aware of.
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