Mercuryo is a fully certified European payment solution that enables businesses to accept cryptocurrency payments and offers a multicurrency wallet for storing and transferring funds. Founded in 2018 and based in London, the company aims to simplify global payments by bridging the gap between digital assets and traditional fiat currencies.
Why Choose Mercuryo?
Users prefer Mercuryo for its competitive exchange rates, fast processing times, and user-friendly interface. The platform supports dozens of local payment methods and currencies, including Visa, Mastercard, Apple Pay, Google Pay, and Samsung Pay. It is regulated under an Estonian operating license and holds Money Service Business (MSB) status in the United States. Additionally, Mercuryo is registered with the UK's Financial Conduct Authority (FCA) as a PSD agent and plans to acquire an Electronic Money Institution (EMI) license soon.
Over 200 companies, including major crypto platforms like Binance and Trust Wallet, use Mercuryo's gateway solutions. The platform also offers a referral program that rewards users for bringing in new clients and has a mobile app with over 100,000 downloads and a 4.8/5 star rating on Trustpilot.
Key Features and Products
Integrated Multicurrency Wallet
Mercuryo's custodial multicurrency wallet allows users to buy, trade, hold, and spend various digital assets. It supports purchases via Visa and Mastercard and requires identity verification (KYC), which typically takes less than 15 minutes. The wallet can be integrated into applications using API or SDK with minimal coding.
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Users can top up their wallets by purchasing crypto through the website or widget or by transferring assets from another wallet. They can also convert crypto to fiat via bank transfer.
Custodial Service
The wallet includes a recovery feature that allows users to regain access by verifying their ID, eliminating concerns about lost seed phrases or passwords.
Widget for Businesses
Mercuryo offers a customizable widget for businesses to accept crypto payments on their websites. This widget supports fiat-to-crypto and crypto-to-fiat conversions and handles back-end operations like liquidity management, chargebacks, customer service, and KYC checks. Integration is straightforward and requires minimal coding.
Businesses earn at least 0.5% from each transaction and gain access to a dashboard for monitoring transactions and withdrawals.
Crypto In & Out
This feature allows businesses to accept crypto payments and manage settlements in either crypto or fiat. The "Crypto In" function lets customers pay with crypto, while "Crypto Out" enables fiat withdrawals. Mercuryo assists with integration, settlements, and volatility management.
Mobile App
The Mercuryo mobile app, available on iOS and Android, offers a intuitive interface for buying, selling, storing, and paying with crypto. Account setup is quick, with automatic verification streamlining the process.
Referral Program
Users can earn 0.5% of the cryptocurrency bought or sold by friends they refer through the platform. Earnings are paid in crypto at the end of each month, with noδΈι on potential income.
Supported Cryptocurrencies and Fiat Currencies
Mercuryo supports major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), as well as fiat currencies including EUR, USD, and RUB (for Russian bank cards).
Fees and Limits
Mercuryo charges a 3.95% fee for buying crypto and 2.95% for selling, with no hidden costs. Minimum and maximum transaction limits vary by currency and are displayed before confirmation. Non-verified users cannot buy or sell crypto, and there are no fees for receiving crypto from external addresses.
Deposit and withdrawal fees apply for card transactions, with a minimum commission of 4 EUR/USD or 50 RUB for withdrawals. Verified users enjoy higher transaction limits, which can be viewed in the wallet dashboard. Support can assist with limit increases.
Upcoming Features
Mercuryo is developing a prepaid Visa card that will allow users to spend crypto at over 40 million retailers worldwide. Other planned features include Fintech Crypto SAAS for banking, mass payments for the gig economy, and advanced analytics tools.
Security and Compliance
Security is a top priority for Mercuryo. The platform employs anti-fraud systems, transaction monitoring, and compliance with regulatory guidelines from bodies like the FATF. It conducts regular evaluations of partners and merchants to prevent financial and reputational risks.
User funds are stored in a combination of secure cold wallets and reputable crypto exchanges. The platform also provides tips for keeping accounts secure.
KYC Process
Mercuryo requires users to complete KYC procedures, which involve providing personal information, a government-issued ID, and proof of address. For transactions exceeding 15,000 EUR, biometric verification may be required. Most users complete KYC quickly, and verified accounts benefit from higher withdrawal limits and faster processing.
Customer Support
Mercuryo offers 24/7 customer support via email, phone, and live chat in English and Russian. Users are encouraged to check the Help section on the website before contacting support.
How to Set Up an Account
- Download the Mercuryo app from the App Store or Google Play.
- Select your region, enter your phone number, and agree to the Terms of Service.
- Enter the verification code sent to your phone.
- Complete identity verification or skip to access the wallet immediately.
The entire process takes less than two minutes.
Pros and Cons
Pros
- Supports crypto-to-fiat and fiat-to-crypto conversions.
- User-friendly mobile wallet.
- Supports major fiat currencies and popular cryptocurrencies.
- Innovative features like the upcoming Visa card.
- Generous referral program.
- Strong regulatory compliance.
Cons
- Limited deposit options.
- Not protected by the Financial Services Compensation Scheme (FSCS).
Conclusion
Mercuryo provides a robust platform for managing crypto and fiat payments, making it accessible for both beginners and businesses. Its focus on security, competitive fees, and continuous innovation positions it as a reliable choice in the crypto payment space. The upcoming Visa card will further enhance its utility by enabling real-world crypto transactions.
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Frequently Asked Questions
How do I get started with Mercuryo?
To begin using Mercuryo, register on their web wallet or download the mobile app from Google Play or the App Store. The setup process is quick and straightforward.
What payment methods does Mercuryo accept?
Mercuryo accepts Visa and Mastercard bank cards, as well as Apple Pay and Google Pay. However, it does not currently support PayPal or Revolut.
Can I store cryptocurrencies in my Mercuryo wallet?
Yes, the Mercuryo wallet allows you to buy, sell, and store various cryptocurrencies securely.
Can I transfer crypto from another wallet to Mercuryo?
Yes, you can transfer cryptocurrencies from external wallets or exchanges to your Mercuryo wallet for management and conversion.