The South-American continent has seen a tremendous rise in its interest in 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
Overview
| Legal Name | Mercado Bitcoin Exchange |
| Headquarters | Vila Olimpia, Sao Paulo |
| CEO | Reinaldo Rabelo |
| Year Founded | 2013 |
| Exchange Type | Centralized |
| Trading Fees | Maker: 0.30%/Taker: 0.70% |
| Deposit Methods | Wire transfer |
| Supported Cryptos | Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) |
| Fiat | Brazilian Real or Reais. |
| Customer Service | Email, Phone |
| Trading Options | Spot Trading, Margin Trading |
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.
How to Set Up an account
Step 1: To create an account with Mercado bitcoin, we first need to navigate 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?
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 Buy Tokens
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 Tokens
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”.
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.
Fees, Limits & Supported Payment types
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%.
Supported Currencies
The cryptocurrencies supported in Mercado Bitcoin can be listed below:
- Bitcoin (BTC)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Ethereum (ETH)
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.
Is Mercado Bitcoin Safe & Secure
The security settings of Mercado Bitcoin are extremely high. They have two-factor authentication and a withdrawal whitelist option. They employ a flexible multi-stage wallet technique that keeps 80-90 percent of assets offline and secures them. Users must also complete an upgraded verification process for withdrawals, which includes proof of the validity of their identifying documents.
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.
Mercado Bitcoin FAQ’s
- How do I open an account with Mercado Bitcoin?
To open an account, visit the official website, click on ‘Register’. Then You will be required to submit identity verification information.
- Which are the supported countries?
Mercado Bitcoin is completely focused on Brazilian users. To trade in Mercado Bitcoin, you even have to prove you’re a Brazilian resident with an ID.
- What are Mercado Bitcoin trading fees?
Trading fees of the Mercado Bitcoin Ranges between 0.30% – 0.70% of the transaction.
- Is Mercado Bitcoin Safe?
Mercado Bitcoin is a legit company that does all the best to maintain a legal cryptocurrency platform. It is a highly reliable and trusted platform in Brazil.
- Is there a mobile app available?
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.
Mercado – 8.6
Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/exchange/mercado-bitcoin/
