Mercatox Review 2024

Our veredict

Mercatox is a well-established cryptocurrency exchange, active since 2015, offering a range of services that appeal to both novice and experienced traders. The platform supports over 200 cryptocurrencies and provides nearly 360 trading pairs, making it a versatile option for diverse trading needs. One of its standout features is the multi-currency wallet, which simplifies the management of multiple crypto assets in one place. Additionally, the exchange offers a unique P2P lending program, allowing users to lend and borrow funds from each other. Mercatox’s flat trading fee of 0.25% is competitive and in line with industry standards, further enhancing its appeal.

However, Mercatox has its drawbacks. The platform has received criticism for its customer support, with many users reporting slow response times and unresolved issues. Furthermore, the lack of detailed information on security measures is a significant concern, as transparency in this area is crucial for building trust. While the exchange has not experienced any major security breaches, the absence of clear security protocols may deter potential users. Overall, Mercatox is a solid choice for those who prioritize a wide range of trading options and lower fees, but the issues with customer support and security transparency should be considered before committing to this platform.

Pros

Wide Range of Supported Cryptocurrencies Mercatox supports over 200 cryptocurrencies and nearly 360 trading pairs, providing users with extensive options for trading and diversification.
Simple Account Creation The account creation process on Mercatox is straightforward and user-friendly, making it accessible even for beginners.
Competitive Trading Fees The platform charges a flat trading fee of 0.25%, which is in line with industry standards and ensures cost-effective trading for users.

Cons

Slow Customer Support Responses Many users have reported delays in receiving support and resolving issues, which can be frustrating and impact the overall user experience.
Lack of Detailed Security Information While Mercatox has not experienced major security breaches, the platform does not provide detailed information about its security measures, which might be concerning for some users.

2,5

Threenvest Score

Fees

0.25% per transaction

U.S Legal

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Why choose Mercatox?

Mercatox is a robust choice for cryptocurrency trading, offering several compelling features that make it an attractive option for both new and experienced traders. One of the primary strengths of Mercatox is its extensive support for over 200 cryptocurrencies and nearly 360 trading pairs. This wide variety ensures that traders have access to a vast array of trading options, enhancing their ability to diversify portfolios and take advantage of different market opportunities. Additionally, the platform’s competitive flat trading fee of 0.25% is in line with industry standards, making it cost-effective for frequent trading.

Another notable feature is the P2P lending program, which is relatively unique among cryptocurrency exchanges. This program allows users to lend and borrow funds directly from each other, providing an alternative investment opportunity that can be particularly appealing in a volatile market. Moreover, Mercatox offers a multi-currency wallet that is both secure and convenient, enabling users to manage multiple crypto assets in one place. This ease of use is further complemented by a straightforward account creation process, making it accessible even for beginners.

However, potential users should be aware of some drawbacks. While the platform has not reported any major security breaches, the lack of detailed information about its security measures might be concerning for some users. Additionally, Mercatox has received criticism for its customer support, with reports of slow response times and unresolved issues. These factors could impact the overall user experience, especially for those who may require prompt support or have security concerns.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I can confidently recommend Mercatox for its diverse range of supported cryptocurrencies and competitive fees. The platform offers over 200 cryptocurrencies and nearly 360 trading pairs, making it an excellent choice for traders looking to diversify their portfolios. Additionally, the flat trading fee of 0.25% is quite reasonable, ensuring cost-effective trading. While there are some areas for improvement, particularly in customer support and security transparency, Mercatox’s robust features and ease of use make it a solid option for both new and experienced traders.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.