Mercado Bitcoin crypto exchange was founded in 2013. It is a centralized exchange (CEX) designed and built for the South American market and Brazil in particular.
The platform is tailor-made for Brazilians, and for any new user to register and access features on the platform, they must provide a CPF or CNPJ number. This is a strong KYC requirement to avoid bad actors from accessing the platform.
Other users around the world who still wish to use Mercado Bitcoin cryptocurrency exchange may use VPN networks and transit accounts. This means more charges and commissions paid on trades. Investors from the US and most countries in Europe are restricted from using the platform altogether.
Mercado crypto exchange has two main trading markets – the BTC and Real markets. The Real is the national currency of Brazil. Apart from the Mercado Bitcoin spot trading option, the platform supports margin trading as well. There are 11 Mercado Bitcoin trading pairs. Some of the supported cryptocurrencies include Bitcoin, Ethereum, Ripple, Litecoin, Chainlink, USDC, Bitcoin Cash, and more.
The platform accepts fiat deposits as well as crypto deposits from personal wallets. Mercado Bitcoin exchange fee for fiat deposits is pegged at 1.99% + R$ 2.00. Cryptocurrencies do not have deposit charges but they have withdrawal charges if they are transferred to different wallets outside the platform. It charges flat Mercado Bitcoin crypto fees of 0.70% for takers' trades done on the platform, while the charge for makers’ trades is 0.30% of the traded amount.
Mercado Bitcoin crypto exchange offers one of the lowest spreads in South America for major cryptocurrency instruments paired with the Brazilian currency (BRL). Furthermore, investors can earn from DeFi assets, NFT tokens, and unique tokenized investment portfolios.
About the Company
Mercado Bitcoin cryptocurrency exchange is based in Brazil and it was founded in 2013. The exchange has around a million registered traders and more than 2.8 million clients. According to the Blockchain Transparency Institute (BTI), Mercado Bitcoin ranks among the 50 most trusted cryptocurrency exchanges in the world.
Mercado Bitcoin trade volume has crossed over 5 billion Reals (over $1 billion). As of December 2022, Mercado Bitcoin volume stands at over 131 BTC, or 2 $million over a 24-hour trading period.
In the future, the platform aims to expand into Mexico and gain more ground in Latin American countries. However, in 2021, the Brazilian Securities and Exchange Commission (CVM) ordered the platform to provide accounting details for some of the tokens they issued. The CVM asked the exchange to reveal the amount raised with the tokens and the list of investors who bought them. The platform denied any wrongdoing on its part and asked the CVM for better regulations on crypto trading and investments.
Furthermore, due to the slump of the crypto markets in 2021, 2TM group, the parent company of Mercado Bitcoin cryptocurrency exchange, sacked some staff to keep operations stable. However, the company raised $200 million from SoftBank, raising the valuation of 2TM to over $2.1 billion dollars, making it one of South America’s Unicorns. A Unicorn is a software company with a valuation of over 1 billion dollars.
Additionally, the 2TM company owns other entities such as Meubank, a multi-asset wallet and account service; Bitrust, a qualified digital custodian; and Clearbook, an equity crowdfunding platform. These companies form a budding ecosystem that supports the Mercado Bitcoin crypto exchange.
Founded by brothers Gustavo and Mauricio Chamati in 2013, the Mercado Bitcoin cryptocurrency exchange was one of the first crypto exchanges in Brazil. The company has had a profitable Mercado Bitcoin crypto price since 2018. The founders both have extensive experience in financial markets and management, blockchain technology, and other relevant fields that are instrumental to the platform’s success. The team is also composed of professionals who have worked with blockchain, finance, and cryptocurrency.