Cryptocurrency Exchange

Mercado Bitcoin – One Of The Top Brazilian Exchange

Overview

Legal NameMercado Bitcoin Exchange
HeadquartersVila Olimpia, Sao Paulo
CEOReinaldo Rabelo
Year Founded2013
Exchange TypeCentralized
Trading FeesMaker: 0.30%/Taker: 0.70%
Deposit MethodsWire transfer
Supported CryptosBitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP)
FiatBrazilian Real or Reais.
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

The South-American continent has seen a tremendous rise in its interest towards cryptocurrency and towards a more decentralized financial system. Especially for bigger countries like Brazil, the need for a cryptocurrency exchange started before Bitcoin became a household name.

For that reason, Mercado Bitcoin was created. The Exchange’s name, which stands for Bitcoin Market, is considered to be the biggest cryptocurrency exchange in Brazil.

So, if you are thinking about using Mercado Bitcoin, this article is a must-read for you where we will cover its complete features and many more things. Let us look into this review in detail now,

What is Mercado Bitcoin?

Mercado Bitcoin Exchange is a popular cryptocurrency exchange based in Brazil. It was founded by Rodrigo Batista, in the year 2016. Today, they have around 400,000 registered traders under their website and more than 1.5 million clients.

The cryptocurrency exchange provides a platform for consumers to invest in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, or Ripple using Brazilian reals. According to the Blockchain Transparency Institute (BTI), Mercado Bitcoin ranks among the 50 most trusted cryptocurrency exchanges in the world 

Mercado Bitcoin has become the largest exchange in Latin America, trading around 4.5 billion Reals (over a billion dollars) in currencies.

Mercado Bitcoin Fees and Limits

The platform accepts Fiat deposits as well as BTC, LTC, and BCH from your personal wallet. The deposit fee is at 1.99% + R$ 2.00 for Fiat deposits. Cryptocurrencies do not have a deposit charge but they have a withdrawal charge if it is transferred to a different wallet, not within the website.

The trading fees for takers at this Brazilian cryptocurrency exchange are 0.70%. The Mercado Bitcoin fees are substantially above the industry average. While this exchange’s trading fees for makers is around 0.30%.

Did you know?
US Investors are not supported on this platform, unfortunately they have to find another exchange platform. You can also refer to our Coinbase reveiw , Poloniex review 

Mercado Bitcoin Supported Currencies

The cryptocurrencies supported in Mercado Bitcoin can be listed below:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Ripple (XRP)
  • Ethereum (ETH)

Mercado Bitcoin Mobile App

Mercado Bitcoin has a great app in the App Store and Play Store to keep track of your alt-coins and exchange on the go.

How to register on Mercado Bitcoin?

Step 1: To create an account with Mercado bitcoin, we first need to navigate on to their website

Step 2: click on the “Register” button found on the upper right-hand side of the website

Step 3: You need to provide an active email account, Provide your date of birth and other personal details.

Step 4:  For people that are living in Brazil, you need to choose between CPF and CNPJ as proof of identity

Step 5: Head on to the upper right corner of the account screen and click on the “2-Step Authentication” option after which you can get started.

How to recover the Mercado Bitcoin password?

In certain cases, to recover the Mercado Bitcoin password, Visit the Mercado Bitcoin login page, click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password. 

How to deposit on Mercado Bitcoin?

Step 1: Visit the Official Website, Sign in to your account.

Step 2: Navigate to the fund’s menu. Click on the “Deposit” Option

Step 3: Carefully follow all additional instructions on the deposit page and go through our deposit checklist

Step 4: Send a wire transfer from your bank by providing the funding instructions as shown on the page.

How to withdraw on Mercado Bitcoin?

Step 1: Visit the Official Website, Sign in to your account.

Step 2: Navigate to the fund’s menu. Click on the “Withdraw” Option

Step 3: Carefully follow all additional instructions on the deposit page and go through our deposit checklist

Step 4: With a wire transfer from your bank by providing the funding instructions as shown on the page make the withdrawal

Step 5: You will see a confirmation with your withdrawal ID and receive an email notifying you that a withdrawal from your account has been requested.

How to buy cryptocurrencies on Mercado Bitcoin?

Step 1: Visit the Official Website, Sign in to your account.

Step 2: In the menu, click on ‘Trade’ on the upper left side and then the “Buy” Option.

Step 3: When you have selected the market you would like to trade-in, click on ‘New Order’.

Step 4: Then Enter a value that you want to trade for Bitcoin in the field provided

Step 5: Then click on “Submit Order”. 

How to sell cryptocurrencies on Mercado Bitcoin?

Step 1: Visit the Official Website, Sign in to your account.

Step 2: In the menu, click on ‘Trade’ on the upper left side and then the “Sell” Option.

Step 3: When you have selected the market you would like to trade-in, click on ‘New Order’.

Step 4: Then Enter a value that you want to trade for Bitcoin in the field provided

Step 5: Then click on “Submit Order”. 

Mercado Bitcoin Pros and Cons

Pros

  • Access to the cryptocurrencies
  • e-wallet service available
  • Very clear presentation of the fees
  • Ability to place limit, market and stop orders
  • Reasonable deposit fees

Cons

  • No credit card or bank transfer deposits
  • Only Brazilian citizens can sign up on the platform
  • No leveraged trading
  • Withdrawal limits and fees apply
  • Account verification is often slow

Conclusion

Mercado Bitcoin is one of the leaders in the Brazilian cryptocurrency space. The company accepts Real (BRL) deposits and facilitates trading in a few of the most popular coins. The costs of trading make this a non-preferable destination for active traders, but a decent entry-level company.

It is not just a regular exchange market located in Brazil; it is an exclusive website just for Brazilian citizens. They offer a good chance for people that are new to the BTC game by providing fiat deposit options.

Recent Updates

  • On March 08, 2020, Santander Loses Appeal Against Brazilian Crypto Exchange, Fine Upheld
  • On March 15, 2020, Brazilian Court Asks Santander To Return Mercado Bitcoin Its Funds
  • On April 06, 2020, Mercado Bitcoin has achieved 130 thousand Reals in bitcoins
  • On July 13, 2020, Chiliz (CHZ), a major sports-focused digital currency, is getting its first listing on a Brazilian cryptocurrency exchange

Mercado - 8.6

8.6

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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