Ibrahim Busari
Ibrahim Busari
Ibrahim is a fintech writer at AskWallet

Mercuryo — An all in one crypto banking solution?

Mercuryo is an Estonian based cryptocurrency exchange service providing businesses and consumers with a quick way to buy and sell crypto with their bank card. The payment solution has support for a wallet and a large selection of cryptocurrencies, including BTC, ETH, Tether and more!

4 min read 26.04.2021

What is "mercuryo"?

Mercuryo is a multifunctional payment system that helps businesses facilitate crypto payments on their website. It features a crypto exchange where users can exchange crypto for fiat currencies( EUR, USD, RUB) and vice versa. The platform also features a multicurrency wallet to store and transfer funds. 

 

The company was established in 2018 in Estonia. The project aims to create a payment gateway integrated with mobile apps and websites. It allows users to seamlessly pay with cryptos and businesses to receive payments in crypto. The company still has many other features it plans on adding in the near future, like a crypto card, among other things.

 

Is Mercuryo safe?

Mercuryo is a group of companies represented by MoneySwap OÜ and MoneyTea LTD. MoneySwap OÜ is registered in Tallinn, Estonia (License № FVT000118), while MoneyTea LTD is registered in the UK (Registration №12166965). MoneyTea LTD is registered as PSD Agent under the FCA ( Ref. № 850523). 

 

However, the company isn't FSCS-protected, which means your funds won't be protected if the platform fails. The company ensures to keep your data and banking information safe using PCI DSS security standards.

 

Mercuryo Services 

The services provided by mercuryo are abundant. A few of them are available for use, while others are still in the development stage. Let's take a quick look at some of the services it provides: 


Widget 

Mercuryo provides the service "widget" for business owners for cryptocurrency payment processing on their websites. Users on the company's site will be able to convert their fiat currencies to crypto via the widget. The widget is customizable to fit the preferences of any corporate style. 

 

Mercuryo handles the storing of users' data, KYC/AML, sale of bitcoin and customer support, so companies don't have to allocate extra resources. Business owners get to set their revenue. They can get at least 0.5% of each transaction. There is a calculator on its official website to make estimates.


Mercuryo Wallet 

The wallet provided by mecuryo allows users to store, send and sell cryptocurrencies with bank cards. However, users can only buy crypto using Visa or MasterCard, and other card services are not accepted. The wallet is integrated with a simple and intuitive mobile app that can be downloaded by Android and IOS users. The app allows for quick transactions. However, the company requires customer identification before a transaction is made. According to mercury, the KYC will take no more than 15 minutes. 

 

Mercuryo Card

 One of the Mercuryo services that haven't launched, but the company has been teasing it. According to Mercuryo, its card will let users pay with cryptocurrencies anywhere in the world. The card will be a prepaid card backed by VISA and boasts no issue, processing or conversion fee.


Referral Program

Invite friends via a referral link and earn 0.5 % for any cryptocurrency purchased or sold by them. 

Pros & Cons

  • Crypto to fiat Exchange and vice versa
  • A prepaid Visa card to spend cryptos online and in-stores
  • Support for an array of fiat and cryptocurrencies
  • An intuitive mobile wallet app
  • Limited deposit options
  • Not protected by the FSCS

Conclusion

Overall, Mercuryo provides its users with several services to help them store, buy and sell multi cryptocurrencies with a bank card. The card is also an excellent addition to the payment system enabling crypto payments in the real world. 

 

However, the company isn't protected by the FSCS. We advise users to proceed with mercuryo with that in mind. Besides that, Mercuryo might be the all in one crypto payment system for businesses, individuals, gamers and people from different walks of life. The website and app are minimalistic and simple to use, so even newbies to the crypto scene can use its services. 

Mercuryo FAQ

How‌ ‌to‌ ‌register‌ ‌for a mercuryo ‌account?‌ ‌

To register an account: 

 

  1. You can either register on the app or the website 
  2. Click the "Create a wallet" button 
  3. Fill in your country of residence and phone number 
  4. A verification code will be sent to your number 
  5. After that, fill in your email address, and a code will be sent to your email 
  6. Once that's done, you will be asked to fill in your personal information: name, surname and date of birth
  7. Next, you choose a strong password and click register.
How to cash out from your Mercuryo account?

Users can withdraw their funds from their Mercury account via a visa card. 

How to make a deposit on a Mercuryo account?

Deposits to your Mercuryo account can be made only via bank cards, Visa and MasterCard, to be precise. 

How to close a Mercuryo account?

To close your account: 

 

  1. Select menu, then select "Subscription."
  2. Choose the mercuryo account you wish to cancel 
  3. Select "Cancel Subscription" 
  4. Click confirm, and your account is deleted.

 

Note: if you have any problems closing your account, please contact support@mercuryo.io

How‌ ‌to‌ ‌register‌ ‌for a mercuryo ‌account?‌ ‌

To register an account: 

 

  1. You can either register on the app or the website 
  2. Click the "Create a wallet" button 
  3. Fill in your country of residence and phone number 
  4. A verification code will be sent to your number 
  5. After that, fill in your email address, and a code will be sent to your email 
  6. Once that's done, you will be asked to fill in your personal information: name, surname and date of birth
  7. Next, you choose a strong password and click register.
How to make a deposit on a Mercuryo account?

Deposits to your Mercuryo account can be made only via bank cards, Visa and MasterCard, to be precise. 

How to cash out from your Mercuryo account?

Users can withdraw their funds from their Mercury account via a visa card. 

How to close a Mercuryo account?

To close your account: 

 

  1. Select menu, then select "Subscription."
  2. Choose the mercuryo account you wish to cancel 
  3. Select "Cancel Subscription" 
  4. Click confirm, and your account is deleted.

 

Note: if you have any problems closing your account, please contact support@mercuryo.io

4.40 How do we count the overall AskWallet star rating? It's all based on a combination of reviewer’s feedback and our expertise.
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Ibrahim Busari
Ibrahim Busari
As a fintech writer at Askwallet, he uses his metaphorical pen to guide you through the world of EMIs. He is an Ural Federal University Alumni and has been working in the financial and iGaming industry since 2016.