Mercado Bitcoin, with a minimum deposit of R$1, initial 0.3% maker and 0.7% taker fees, and a staking service, offers 330+ coins/tokens for trading. The exchange accepts BRL as its only fiat deposit on the platform.
Mercado Bitcoin Information + Regulation
Mercado Bitcoin was founded on June 12, 2013, by brothers "Gustavo Chamati" and "Mauricio Chamati". The exchange operates under the legal name Mercado Bitcoin Serviços Digitais Ltda. and is based in Sao Paolo, Brazil.
The company's registered address is Alameda Mamoré 687, Suite 303, Room 03, Alphaville Industrial, Barueri, SP, Brazil.
Mercado Bitcoin Exchange Summary of Specifications
Mercado Bitcoin offers a range of features based on certain parameters as a crypto exchange:
Exchange | Mercado Bitcoin |
Launch Date | June 12, 2013 |
Levels | Unverified, Verified |
Trading Fees | 0.3% Maker Fee, 0.7% Taker Fee (Lower Cost on Higher Volumes) |
Restricted Countries | Iran, United States, Iraq, Afghanistan, Yemen, Syria |
Supported Coins | 330+ |
Futures Trading | None |
Minimum Deposit | R$1 |
Deposit Methods | Bank Transfers, Crypto Transactions |
Withdrawal Methods | Bank Transfers, Crypto Transactions |
Maximum Leverage | 1x |
Minimum Trade Amount | Varies |
Security Factors | 2FA, Asset Segregation, Cybersecurity Team, Data Reports to ANPD, Annual Audits since 2018 (by EY since 2022) |
Services | Staking, Fixed/Variable Digital Income, Loan |
Customer Support Ways | Email, Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | BRL |
Affiliate Program | None |
Orders Execution | N/A |
Native Token | MBRL |
User Levels and Limitations Structure
MB has taken a straightforward model for its limitations based on the account's level of verification. The table below discusses the structure:
Account Verification Status | Unverified | Verified |
Deposit Limit | R$50,000 in A Year | None |
Withdrawal Limit | R$1,000 in 24 Hours | R$50,000 in 24 Hours |
MB Commissions and Spreads
Mercado Bitcoin's trading fee structure is relatively straightforward with discounts for high-volume traders. Here's a breakdown of the main fees:
Level | 30-Day Trading Volume | Maker Fee | Taker Fee |
1 | 0 to R$ 10,000 | 0.30% | 0.70% |
2 | R$10,000 to R$50,000 | 0.27% | 0.70% |
3 | R$50,000 to R$100,000 | 0.24% | 0.70% |
4 | R$100,000 to R$200,000 | 0.21% | 0.70% |
5 | R$200,000 to R$500,000 | 0.18% | 0.70% |
6 | R$500,000 to R$1,000,000 | 0.15% | 0.60% |
7 | R$1,000,000 to R$5,000,000 | 0.12% | 0.60% |
8 | R$5,000,000 to R$10,000,000 | 0.09% | 0.60% |
9 | R$10,000,000 to R$20,000,000 | 0.07% | 0.50% |
10 | R$20,000,000 to R$50,000,000 | 0.05% | 0.45% |
11 | R$50,000,000 to R$100,000,000 | 0.03% | 0.40% |
12 | R$100,000,000 to R$200,000,000 | 0.02% | 0.30% |
13 | above R$ 200,000,000 | 0.015% | 0.25% |
Note that there is no cost for crypto-to-crypto trading on this exchange. Also, no other fees/commissions are charged.
Mercado Available Cryptocurrencies
This exchange offers an impressive selection of over 330 cryptocurrencies for trading. This diverse range includes:
- Bitcoin [BTC]
- Ethereum [ETH]
- Cardano [ADA]
- Coti [COTI]
- Dogecoin [DOGE]
- Fantom [FTM]
- Litecoin [LTC]
- Optimism [OP]
- And so on
Does Mercado Bitcoin Exchange Offer Futures or Margin Trading?
At the time of writing this article, Mercado Bitcoin does not offer futures or margin trading options. The exchange focuses primarily on spot trading and other investment products like staking and fixed-income offerings.
Account Opening and Verification on MB
In this section, we will go through all steps in creating an account with the discussed exchange:
- Visit the platform's website and click on "Create Account"
- Provide your email address and choose your country of origin from the list
- Enter additional personal details such as your birth date, CPF, etc., and create a password
- Verify your email address and activate your account by checking your inbox
After these steps, your account will be created. For verification, submit identity and/or residential documents.
MB Security Measures
This company has provided enough information about its security measures for data and assets:
- Two-Factor Authentication (2FA): More security for users' accounts
- Asset Segregation: User funds are kept separate from operational funds
- Dedicated Cybersecurity Team: Constantly monitoring and improving platform security
- Data Protection: Compliant with Brazilian data protection laws, with regular reports to the National Data Protection Authority (ANPD)
- Annual Audits: Independent audits conducted since 2018, with EY taking over in 2022
Mercado Bitcoin Exchange Funding Options
The exchange supports 2 main payment methods for deposits and withdrawals:
- Bank Transfers: Pix, TED, and other options
- Cryptocurrency Transactions: Direct deposits and withdrawals via blockchain
Note that only the Brazilian Real is supported for fiat deposits on the platform.
MB Trust Ratings
Mercado Bitcoin CoinGecko and other sources show generally positive evaluations. Here's an overview:
- Trustpilot: 2.2/5 (based on 10+ reviews)
- ScamAdviser: 86/100 Trustscore
- CoinGecko: 6/10
User scores on Trustpilot are not reliable since the number is too low.
Copy Trading and Other Investment Options
Mercado Bitcoin offers 3 options for users to earn passive income beside the profits earned from trading:
- Staking: Users can stake certain cryptocurrencies [ETH, SOL, CHZ] to earn rewards, with yields up to 21% APY
- Fixed/Variable-Income Products: The platform offers digital asset-based investments with varying terms and returns;
- Crypto-Backed Lending: Users can use their crypto assets as collateral to borrow funds.
Writer's Opinion And Conclusion
Mercado Bitcoin, going through annual audits and keeping user assets segregated from company's funds, provides its support services through 2 channels [ticket, email]. The ScamAdviser website has given a 86/100 Trustscore to the platform's website. "CoinGecko" evaluates the platform as a 6/10.