Statement from Mercuriex regarding BCR Listing

“At Mercuriex we believe in honesty and transparency. We have a moral obligation to ensure that the coins listed on Mercuriex are not manipulated or restricted by a centralised authority in this decentralised crypto-space.

We will not allow any developer or team to dictate to us who is allowed to deposit certain coins, or to make certain types of trades on open-source assets that we decide to list on our P2P Exchange Platform.

Further, we will not be party to any form of price-fixing or market-manipulation and nor will we willingly or knowingly allow it to happen on our platform.”

 

BCR trading at Mercuriex:

We recently made the decision to temporarily remove the BCR/TUSD market pair from the exchange, and we have been reviewing our position with regards to the future of BCR as a trading coin on the Mercuriex Exchange. Our decision has not been made lightly, and we have taken into consideration a lot of feedback from our own community members, BCR coin holders and individuals with links to the project itself.

With all the above in mind, we are pleased to announce that we will be reinstating the BCR/TUSD market, and we will also be adding a BCR/BTC market pair to Mercuriex Exchange.

These two market pairs will have no restrictions imposed. Our exchange users will be able to deposit and withdraw BCR and will also be able to place buy and sell orders on the open market.

We expect these market pairs to be ready on Wednesday 29th April in the morning EST. We will make a further announcement on 29th April when the market pairs are active.

 

Open-Market crypto-trading & prices / It takes Two to Tango:

At this point, we feel it is imperative to state that we (the exchange and by extension the owners/staff) have absolutely NO control over any market prices for any trading pairs or coins on the exchange.

As with ALL openly tradable cryptocurrencies, the market prices will depend entirely on the users who are buying or selling the cryptocurrency on the exchange.

Expanding on the sub-title above “It takes Two to Tango”, it takes two sides to make a trade. When two parties agree on a price for a trade, then a trade can take place. If you own a specific asset and you feel its value is a specific price then you should be stoic in your price setting and not be tempted to undercut the competition who might also be trying to sell their coins, however, on an open market, anyone can set a price that they are happy with.

 

Before you trade, understand these terms and how trading work:

We are aware that some coins are marketed as being “stable” or “pegged” to certain prices or assets. Therefore, we also feel it is important to point out that even “stable” or “pegged” coins can fluctuate in price, as above, we have no control over market prices of any assets or coins listed on the exchange.

If you are new to cryptocurrency, or trading in general, it is important before making trades that you understand certain terms (such as Stable / Pegged Coin) and also how different types of orders work, and how to read the data that appears in the order-books on an exchange. We are therefore providing some links to content easily found online and we highly recommend reading the info contained within these links before making trades, even if you are not new to the crypto-space we suggest reading as a refresher;

What is a Stable Coin or Pegged Price: https://www.investopedia.com/terms/s/stablecoin.asp

Understanding Order Books: https://www.coindesk.com/crypto-trading-101-how-to-read-an-exchange-order-book

Understanding Limit Orders: https://coinrivet.com/guides/cryptocurrencies/a-guide-to-limit-orders-in-cryptocurrency-trading/

Understanding Market Orders: https://bitsgap.com/blog/market-order-in-crypto-trading-when-to-use-it-and-how-does-it-work/

Open Source: https://opensource.com/resources/what-open-source

 

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