Crypto Currency Exchange

Mercado Bitcoin – One Of The Top Brazilian Exchange

Hey, Welcome to my Mercado Bitcoin Exchange review. 

This review will walk you through the General details, account features, trade features, limits and fees, mobile app features, pros and cons, latest updates and an overview of the FAQ. 

While writing the 24-hour volume of this exchange is 315.04 BTC, the exchange currently supports Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP) and Ethereum (ETH).

Mercado Bitcoin exchange raises a donation of 2 bitcoins out of its target of bitcoins. The donations are for the Hospitals combating coronavirus. 

What is 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  2 million clients so far. The motto of the Brazilian exchange is to innovate the financial system with the latest and advanced technology.


Mercado Bitcoin exchange claims that it is the only exchange to offer tokens on real assets. Isn’t it exciting?

Let me jot down a few of the features for you.

Things to Observe in a better exchange 

The exchange is considered to have strong security, high transparency and working hard on technology. They are also routinely visible in well-known journals and newspapers such as Forbes, Info Money, etc.

The platform focuses on Security a lot. It has implemented a lot of security measures which I have talked about in-depth here. The User review adds the confidence into high joining the exchange for security, volatility, and liquidity; The exchange also supports Brazilian fiat currency Brazilian Real or  Reais.

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 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 cryptocurrency and reais.

For fiat withdraw fee commission is at 1.99% + R$ 2.90. Cryptocurrencies do not have a deposit charge but they have a withdrawal charge and are transferred to a different wallet, not within the website.

For detailed fees structure, check the official website – https://www.mercadobitcoin.com.br/comissoes-prazos-limites

Mercado Bitcoin Security

Now that the fees part is covered, the next part of this Mercado Bitcoin Exchange review covers security.

Mercado Bitcoin’s security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

The market of cryptocurrency demands a strict standard for security. Mercado Bitcoin takes full responsibility for keeping the user’s money secure. The platform has an EV type SSL certificate thus assuring the users that the 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 cybercrime 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 the Google authenticator and scan the QR code of the 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 photos and documents. The Gold account only requires authentic documents.

Account profiles

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 an order with advanced parameters and market analysis.

By default, a new account has a 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?

Follow the below steps to easily register your account in Mercado Bitcoin Exchange.

  1. Step 1 :


    In order to register a new account, log on to www.mercandobitcoin.com.

  2. Step 2:


    The user can then click on the tab “Create your free account”.

  3. Step 3:


    Enter the details such as email ID and date of birth.

  4. Step 4:


    The user also needs to enter CPF or CPNF. This is a Brazilian identification that is essential for the regulation process.

  5. Step 5:


    The user can then click on the tab “I agree to T&C” to complete the sign-up process.

  6. Step 6:


    Next is Mercado Bitcoin login. Login using your credentials.

Deposit Methods

This particular trading platform offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason. However, as the exchange accepts deposit of fiat currencies at all, it distinguishes itself from many exchanges that only allow deposits in cryptocurrencies.

How to Buy/Sell Bitcoins on Mercado Bitcoin?

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 beforehand 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 the 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.

The Mercado Bitcoin Mobile App

The exchange is available in Android as well as iOS version. Also, the website is optimized 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.

Recent Updates

April 6, 2020: Mercado Bitcoin has raised Reais 130 thousand in bitcoins

The exchange Mercado Bitcoin had launched a campaign to collect donations of bitcoins (whole units or fractions) for the Hospital de Cirurgia de Sergipe to build three new intensive care units (ICUs) to treat patients with COVID-19, the disease caused by the new coronavirus. The aim was to collect 10 bitcoins, however, the target is yet to reach.

March 25, 2020: Mercado Bitcoin exchange has reached 2 million customers

The Mercado Bitcoin exchange is not affected by the drop in prices that hit the market earlier this month. Instead, the exchange has set a new record as the trading volumes have doubled and the number of users is reaching 2 million counts.

Conclusion – Mercado Bitcoin Review

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 compared to other sites, the people of Brazil have trusted and given a huge boost to this exchange since the company is local.

FAQ’S


What are Mercado Bitcoin trading fees?


Trading fees of the exchange is in between 0.30% – 0.70% of the transaction.


What is Mercado Bitcoin Withdrawal Fees?


The exchange charges a withdrawal fee corresponding to the network fee when you withdraw BTC.  The withdrawal fees amount to around R$ 2.90 + 1.99% of the transaction.


Is Mercado Bitcoin available on Mobile?


The exchange is available in Android as well as iOS version. Also, the website is optimized for any browser. This makes accessing the platform on the go very easy.

Mercado Bitcoin

6.4

User interface

6.5/10

Fees

6.0/10

Security

7.0/10

customer support

6.0/10

Pros

  • wallet service available
  • trusted exchange
  • competitive deposit fees

Cons

  • limited only for Brazilain users
  • high trading fees
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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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