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We always encourage caution when selecting an exchange, and you need to consider “Is Mercatox safe?” for yourself and your personal situation.
You need to do your research and make sure you’re comfortable with the platform before committing any funds.
What the company says: Is Mercatox safe?
“Yes it is safe! Our main goal is to keep clients personal data extremely safe and secure. We take great precautions around security systems in our system and are constantly monitoring for any activities.”
Security considerations
At Account Level, Mercatox recommends setting up 2-Factor-Authentication.
Two-Factor Authentication (2FA) is a way to ensure that you add an additional layer of security to prevent someone hacking into your account, even if they know the password. It requires two different pieces of information, such as a link sent to your email account, or even better Google Authenticator to prove that you are accessing the account.
Protection of Funds: Mercatox does not state clearly how the company protects user funds. Although the company claims that it respects the KYC and AML regulations, it does not seem that Mercatox itself is regulated or licensed in any particular country.
Data Protection: Little information is available from Mercatox on aspects such as Data encryption, Cold Storage (Offline), Anti-Phishing code, and similar, to ensure user data is safe.
Personal Research: Is Mercatox safe?
As mentioned, we encourage all investors in crypto to do their own research when selecting an exchange, or a coin/ token to invest in.
The following sources generally have a wealth of information:-
- Trust Pilot
- Mercatox Social Media – especially comments and interactions with the company itself
- Mercatox Customer Support – often there is public information available, and it’s worth checking out Chatbot, Forums, etc.
Frequently asked questions
Mercatox Review: What is Mercatox ?
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Information is provided for educational purposes only and isn't investment advice. This article does not provide a recommendation to buy or sell any digital asset, nor is it an endorsement of particular coins/tokens by the author(s).
