There are a lot of exchange websites today that offer area-based services. Ok, let’s see about a South American exchange, which is one of the top exchanges in Brazil. Yes, you heard it right, a Brazilian exchange i.e., Mercado Bitcoin, which has more than a million clients.
Mercado Bitcoin review:
- About Mercado Bitcoin
- Mercado Bitcoin Fees
- Security at Mercado Bitcoin
- Type of accounts in Mercado Bitcoin
- How to register a new account on Mercado Bitcoin?
- How to buy and sell Bitcoins?
About Mercado Bitcoin
Mercado Bitcoin is a Brazilian exchange for cryptocurrency. It is one of the largest crypto exchanges in Brazil and Latin America. Rodrigo Batista is currently the CEO of Mercado Bitcoin. The company has over +1 million clients so far. The motto of the Brazilian exchange is to innovate the financial system with latest and advanced technology.
The company has an intense media coverage on some well-known journals and newspapers such as Forbes, Info Money, etc. The source for Brazilian financial market is Broadcast, Estadao, Economatica, CMA, Comdinheiro etc. This platform has an experienced team of developers and finance, which makes the platform reliable and trustworthy.
Mercado Bitcoin Fees
Mercado Bitcoin provides exceptional service when it comes to trading and exchange. The users can trade only in reais, the currency of Brazil. The platform does not accept USD or Euro for now. The trading occurs between crypto currency and reais.
For fiat deposit fee is at 1.99% + R$ 2.00 f. Crypto currencies do not have a deposit charge but they have a withdrawal charge if transferred to a different wallet, not within the website.
The fee for the maker is at 0.30% and 0.70% for the taker. The exchange works as a virtual wallet too, they do not charge fund transfers from different accounts to another as long as it’s on the website.
Security at Mercado Bitcoin
The market of crypto currency demands a strict standard for security. Mercado Bitcoin takes full responsibility of keeping the user’s money secure. The platform has EV type SSL certificate thus assuring the users that company is legally registered. The exchange encrypts all the sensitive data and the infrastructure for data security is robust.
Talking about the infrastructure, the company has certain features such as design by security, back up routine, replication encryption, cloud security etc.
The platform provides protection against DDoS and is completely SSL certified. All the digital currency is in cold storage. This keeps them off the online servers. The money is thus protected against any cyber crime and also eliminates the risk of volatility.
The user can also enable two-factor authentication on their device to add an extra layer of security. The user can download Google authenticator and scan the QR code of Mercado Bitcoin account. Later the user can sync them. Thus, every time there is a login, the user would receive a 6-digit code on their device.
Type of accounts
Mercado Bitcoin has different types of accounts i.e. the normal account, VIP account and Gold account. The normal account requires Email Validation and active CPF for registration. VIP accounts could be for Individual or corporate. These documents require colored photo and document. The Gold account only requires authentic documents.
Along with the different accounts, the exchange has 2 different profiles for the account holders for their convenience – basic and trader.
- Basic Profile – This profile allows the users to only buy and sell cryptocurrencies easily and fast. The profile is suitable for beginners who want to understand the industry.
- Trader profile – This profile allows experienced users to trade efficiently. The trader can create order with advanced parameters and market analysis.
By default, a new account has Basic profile. Although the profile can be switched between Basic and Trader easily by just a button click. Moreover, no additional charges are applied for this profile switch.
How to register a new account?
In order to register a new account, log on to www.mercandobitcoin.com. The user can then click on the tab “Create your free account”. Enter the details such as email ID and date of birth. The user also needs to enter CPF or CPNF. This is a Brazilian identification that is essential for the regulation process. The user can then click on the tab “I agree to T&C” to complete the sign-up process.
Next is mercado bitcoin login. Login using your credentials.
How to buy and sell Bitcoins?
In order to buy Bitcoins in Mercado Bitcoin exchange, first login and deposit reais in the Mercado Bitcoin account. Once the credit is available, the user can then decide the amount for which he wants to buy Bitcoin and place the order.
For selling the Bitcoins, the user can do a market analysis before hand and check the real-time prices of the currency. If there is a higher price available then the user can place the order and sell bitcoins.
There are several tools available to analyze the market. The user can avail several services on Mercado coin such as real time value of the currency, the 24-hour trading volume, the minimum and maximum price for the day. The information could be viewed for different timelines such as minutes, hours or day.
Mercado Bitcoin App
The exchange is available in Android as well as iOS version. Also, the website is optimised for any browser. This makes accessing the platform on the go very easy.
The exchange also has API functionality to access directly from your website / blog. No need to access the Mercado Bitcoin platform.
Mercado Bitcoin is an exclusive website just for Brazilian citizens. They offer a good platform for people that are new to the crypto market by offering fiat deposit options. Though the fees are high compare to other sites, But the people of Brazil have trusted and given a huge boost to this exchange since the company is local.