Founded in 2011 in Sao Paulo, Brazil, Mercado Bitcoin positions itself as an alternative asset trading platform in Latin America. Mercado Bitcoin has a strong reputation in the crypto community and has over 1,000,000 registered users.
Mercado Bitcoin is one of the leaders of the Brazilian cryptocurrency space. The company accepts deposits in fiat currency, and facilitates the trading of some of the most popular coins. The cost of trading makes this trading platform not very popular for active traders, but worthy for entry-level users.
With more than 1.5 million registered users, Mercado Bitcoin has established itself as the leading exchange in Brazil that allows locals to easily buy and sell cryptocurrencies. The exchange believes in 3 core values: security, transparency, and freedom
Mercado Bitcoin supports trading with fiat-Brazilian Reals (BRL), offering BRL pairs for BTC, ETH, XRP, BCH, LTC, and USDC.
The crypto exchange launched MB Digital Assets in 2019, an asset tokenization initiative that produced more than 25 million reais in asset-backed tokens.
Mercado Bitcoin uses advanced technology to expand and provide a better interface and services for its users. Mercado currently trades Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash( BCH), Ripple (XRP), and Ethereum (ETH) , and provides real-time monitoring of price movements and recent transactions on Mercado Bitcoin, as well as placing limit, market, and stop orders.
The website is not available in English, users who do not speak Portuguese, and will need to use Google Translate.
Mercado Bitcoin has a great app in the App Store and Gugl Play to track your alcoins and exchange them on the go.
The disadvantages of the exchange include:
- Credit cards are not supported;
- Only Brazilian citizens can register on the platform;
- No Leveraged Trading - Mercado Bitcoin does not provide margin trading. This is understandable for an entry-level exchange like this.
Mercado Bitcoin Fees
The fee for trading on this Brazilian cryptocurrency exchange is 0.70%. This fee is significantly higher than the industry average. In fairness, it should be noted that the trading fees of this exchange for manufacturers are about 0.30%. This is closer to the industry average, but still higher. Mercado Bitcoin has a strong offer for investors in other respects, which outweighs the disadvantage of these higher trading fees.
The fee for the withdrawal of Bitcoin to Mercado Mercado is 0.0005 BTC, which is slightly lower than the global average for the industry. Accordingly, their withdrawal fees are definitely quite competitive.
This trading platform offers bank transfer as a deposit method, and has a fee of 1.99%. But you can't make a deposit with a credit card.
As a centralized exchange, Mercado Mercado supports bank-level security measures, which in itself speaks of reliability.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.