BitMart, launched in 2017, is a well-regarded cryptocurrency exchange known for its security and reliability in buying, selling, and trading digital assets. The platform employs a robust multi-layer and multi-cluster system architecture, ensuring stability and safety for its diverse user base. Since its inception, BitMart has quickly gained popularity, amassing over two million users worldwide. It has significantly expanded its services, becoming a comprehensive platform for traders of all levels. Headquartered in the Cayman Islands, BitMart also operates offices in the United States, South Korea, and China, and serves users in over 180 countries, contributing to its high liquidity.
| Head Office: | Cayman Islands |
| YEAR OF ESTABLISHMENT: | 2018 |
| REGULATION: | Has a U.S. license |
| SUPPORTED FIAT CURRENCIES | No |
| MAKER/TAKER COMMISSIONS: | Taker 0.06% – spot (average value), 0.06% – futuresMaker 0.05% – spot (average value), 0.02% – futures |
| SUITABLE FOR BEGINNERS: | Yes |
| KYC/AML VERIFICATION: | Yes |
| WITHDRAWAL FEE | Depends on the selected coin – 0.001 BTC, 0.0021 ETH, 11 USDT, etc. |
| REPLENISHMENT METHODS | Crypto wallets (bank cards, Apple Pay, Google Pay, Pix Payment when buying coins) |
| OUTPUT METHODS | Crypto wallets (bank cards, Apple Pay, Google Pay, Pix Payment when selling coins) |
| APPLICATION: | Yes |
Pros and Cons BitMart
- Supports a large number of cryptocurrencies
- Advanced crypto trading platform
- Low trading and withdrawal fees
- Beginner-friendly
- Buy crypto with credit & debit cards, PayPal, bank transfer
- Users can earn crypto
- Futures and margin trading
- NFT marketplace
- Hacked in December 2021
- Poor customer feedback
Is BitMart Safe?
BitMart is widely regarded as one of the most secure cryptocurrency exchanges. The platform implements numerous security measures to safeguard customer data and financial assets. Since its launch in 2017, BitMart has experienced only one hacking incident.
In early December 2021, BitMart lost around $200 million when the private keys for its hot wallets were stolen. Although customer assets were compromised, BitMart took full responsibility and pledged to compensate customers with its own funds, ensuring that users did not suffer any financial losses.
Despite this incident, BitMart remains highly secure. Most assets on the platform are stored in cold wallets, which are offline and impervious to breaches. Additionally, BitMart promotes two-factor authentication to enhance login security.
Cryptocurrencies Available on BitMart
BitMart supports trading for over 1,000 digital currencies and tokens. Some of the most popular cryptocurrencies on the exchange include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Avalanche (AVAX)
- Axie Infinity (AXS)
- Binance Coin (BNB)
- BitMart Token (BMX)
- Dash (DASH)
- Decentraland (MANA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Sandbox (SAND)
- Shiba Inu (SHIB)
- Solana (SOL)
- SushiSwap (SUSHI)
- Stellar Lumens (XLM)
- Terra (LUNA)
- Tron (TRX)
- Zcash (ZEC)
- Zilliqa (ZIL)
Trading Experience
BitMart offers a web-based platform for digital asset trading and investing, along with a mobile app for both Android and iOS. Experienced traders will find all the advanced features they need, coupled with a wide array of tradable assets.
Features and Services Offered by BitMart
BitMart stands out as one of the most versatile cryptocurrency exchanges, offering a wide range of features and services. Key highlights include:
- Real-time charting for trades and traders
- Up to 100x leverage for futures trading
- Demo trading for beginners
- NFT marketplace
- Futures and margin trading
- Crypto staking to earn interest
- Cold wallets storing over 99% of funds
- Crypto lending
- Education and training guides for new investors
Futures Trading on BitMart
BitMart supports both spot and leverage trading, making it an excellent choice for experienced traders seeking a reliable futures trading platform. With leverage options ranging from 5x to 100x on various cryptocurrencies, BitMart can offer significant short-term gains. However, due to the high-risk nature of futures trading, it’s recommended only for those who fully understand the market and are prepared to take on such risks.
For beginners, BitMart provides a demo trading feature with virtual money to practice futures trading and develop trading strategies.
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Earn Interest with Crypto Staking
BitMart provides crypto staking options, enabling you to lock up funds for 30 to 90 days and earn interest. While this feature is available for a limited selection of cryptocurrencies, it offers an easy way to grow your holdings. Additionally, BitMart has a savings program, BitMart Savings, which pays interest on various cryptocurrencies. However, this program is not available to U.S. investors.
Fees
BitMart uses a tiered fee structure where users with higher 30-day trading volumes in BTC pay lower fees. The default fees start at 0.25% for both makers and takers. BMX token holders receive fee deductions when using the token to cover trading fees.
For margin trading, users pay an initial interest rate calculated hourly. Futures trades incur a 0.0200% fee for makers and a 0.0600% fee for takers. BitMart does not charge deposit fees, while withdrawal fees vary depending on the asset. The fee structure differs for standard and professional users. For example, standard users without the BMX token fee reduction pay 0.25% maker and taker fees.
Regular Users
| Level | BMX Holding Balance | Maker/Taker | Maker/Taker (BMX 25% Deduction) |
| LV1 | BMX < 10,000 | 0.0900% / 0.1000% | 0.0680% / 0.0750% |
| LV2 | BMX ≥ 10,000 | 0.0750% / 0.0900% | 0.0560% / 0.0680% |
| LV3 | BMX ≥ 20,000 | 0.0700% / 0.0800% | 0.0530% / 0.0600% |
| LV4 | BMX ≥ 100,000 | 0.0650% / 0.0750% | 0.0490% / 0.0560% |
| LV5 | BMX ≥ 200,000 | 0.0600% / 0.0700% | 0.0450% / 0.0530% |
| LV6 | BMX ≥ 300,000 | 0.0550% / 0.0650% | 0.0410% / 0.0490% |
| LV7 | BMX ≥ 400,000 | 0.0500% / 0.0600% | 0.0380% / 0.0450% |
| LV8 | BMX ≥ 500,000 | 0.0450% / 0.0550% | 0.0340% / 0.0410% |
| LV9 | BMX ≥ 600,000 | 0.0400% / 0.0500% | 0.0300% / 0.0380% |
| LV10 | BMX ≥ 700,000 | 0.0350% / 0.0450% | 0.0260% / 0.0340% |
| LV11 | BMX ≥ 800,000 | 0.0200% / 0.0400% | 0.0150% / 0.0300% |
| LV12 | BMX ≥ 900,000 | 0.0100% / 0.0350% | 0.0080% / 0.0260% |
Professional Users
| Level | Trade Volume (30d) | Maker/Taker |
| Pro1 | BTC ≥ 150 | Maker: 0.0400% Taker: 0.0600% |
| Pro2 | BTC ≥ 500 | Maker: 0.0200% Taker: 0.0600% |
| Pro3 | BTC ≥ 2,000 | Maker: 0.0000% Taker: 0.04000% |
| Pro4 | BTC ≥ 5,000 | Maker: -0.0010% Taker: 0.0400% |
| Pro5 | BTC ≥ 10,000 | Maker: -0.0050% Taker: 0.0200% |
| Pro6 | BTC ≥ 40,000 | Maker: -0.0100% Taker: 0.0200% |
How to Open a BitMart Account
- Visit the Website: Go to the BitMart official website.
- Sign Up: Click on the “Sign Up” button, usually located at the top right corner of the homepage.
- Provide Your Details: Enter your email address and create a strong password. You can also sign up using your phone number.
- Verification: You will receive a verification email or SMS. Click the verification link or enter the code to verify your account.
- KYC (Know Your Customer): Complete the KYC process by providing necessary identification documents. This step is essential for increasing your withdrawal limits and accessing all features.
There are two levels of identity verification on the exchange: Level 1 and Level 2.
Level 1 Verification grants access to the following services:
- Deposit
- Withdraw up to 0.5 BTC daily
- Buy Crypto
- Sell Crypto
- Spot Trading
- Futures Trading
- NFT Market
Level 2 Verification unlocks additional features:
- Withdraw up to 0.5 BTC daily
- Buy Crypto
- Sell Crypto
- Spot Trading
- Margin Trading
- Futures Trading
- Earning
- Launchpad
- NFT Market
- Voting List
- Enable Two-Factor Authentication (2FA): For added security, enable 2FA using an authenticator app.
- Deposit Funds: Once your account is set up and verified, you can deposit funds by navigating to the “Deposit” section and choosing your preferred cryptocurrency.
- Start Trading: With funds in your account, you can begin trading by selecting the trading pairs available on the platform.
Following these steps will help you open and set up your BitMart account efficiently.
How to Purchase Cryptocurrency on BitMart
Buying cryptocurrency on BitMart is straightforward and efficient. Follow these steps:
Step 1:
Click the “Buy Coins” button at the top of the trading interface to start your purchase.
Step 2:
Select your preferred payment method. BitMart supports multiple options, including:
- Credit/Debit Card
- Bank Transfer
- Apple Pay
- PayPal
- Gift Cards
Step 3:
Choose the cryptocurrency or fiat currency you wish to purchase. You can select any asset available on the list and trade it later for another cryptocurrency if needed. Your BitMart wallet address will be displayed on the screen.
Step 4:
Provide the required details and choose whether to use a wire transfer or credit/debit card for payment. If you haven’t completed the KYC (Know Your Customer) process, you’ll need to fill out the form as it is mandatory for direct cryptocurrency purchases. Once this process is completed, your crypto will be deposited into your BitMart wallet promptly.
Trading Platform
The BitMart trading platform offers a comprehensive and user-friendly experience for both novice and experienced traders. Featuring an intuitive interface, it provides real-time market data, advanced charting tools, and a variety of order types to cater to different trading strategies. Users can easily switch between spot, futures, and margin trading, ensuring flexibility in their investment approach. The platform supports a vast array of cryptocurrencies and trading pairs, allowing for diversified portfolio management. Additionally, the mobile app ensures that traders can access their accounts and execute trades on the go, maintaining seamless connectivity and control over their investments at all times.
BitMart Mobile App
The BitMart mobile app provides a comprehensive and efficient trading experience, available for both iOS and Android operating systems. Designed with speed, stability, and a user-friendly interface, the app allows users to manage their crypto portfolios on the go effortlessly.
Key Features and Capabilities
The BitMart mobile app is equipped with essential features that enable users to trade, view their accounts, track portfolios, and execute various operations seamlessly. Users can access a wide range of cryptocurrencies, manage their investments, and stay updated with market trends through the app’s intuitive design.
Interface and Usability
The app boasts a clean and intuitive design, ensuring smooth navigation across devices with different screen sizes. Its user-friendly interface allows both beginners and experienced traders to execute trades and monitor their investments without hassle.
Types of Orders and Their Usage in the App
The BitMart mobile app supports multiple order types, including market, limit, and stop-limit orders. Users can easily place these orders by navigating to the trading section, selecting the desired order type, entering the relevant details, and confirming the transaction.
Charts and Analytics on the Mobile App
The app offers robust charting and analytics tools, allowing users to perform technical analysis and make informed trading decisions. With real-time data, various chart types, and technical indicators, traders can analyze market trends and adjust their strategies accordingly.
Security and Protection of User Data
Security is a top priority for the BitMart mobile app. It incorporates advanced security measures, such as two-factor authentication (2FA) and encryption, to protect user data and funds. These features ensure a secure trading environment for all users.
Notifications and Customization
The app’s notification system keeps users informed about important updates, market movements, and account activities. Users can customize notifications and adjust the app interface to suit their preferences, ensuring they receive relevant information promptly.
Integration with Other Devices and Services
The BitMart mobile app integrates seamlessly with other devices and services, providing users with a cohesive trading experience. This integration enhances usability and allows traders to manage their accounts across multiple platforms efficiently.
Real-world Usage Examples
For instance, a trader can use the BitMart mobile app to execute a quick trade while commuting, monitor their portfolio during a lunch break, or receive instant notifications about significant market changes, enabling timely decisions.
Overview of Updates and Changes
Recent updates to the BitMart mobile app have enhanced its performance, added new features, and improved user experience. Regular updates ensure that the app remains competitive and functional in the fast-evolving crypto market.
Wrapping Remarks
In summary, the BitMart mobile app is a powerful tool for cryptocurrency trading, offering a wide range of features and a user-friendly interface. With robust security measures, customizable notifications, and seamless integration, it caters to the needs of both novice and seasoned traders.
BitMart Customer Service
BitMart’s customer service is designed to provide comprehensive support through various channels. Users can access help via a dedicated support center, where they can find answers to common questions and detailed guides. For more specific issues, BitMart offers support tickets, allowing users to submit their queries and receive tailored assistance. Additionally, the live chat feature ensures that users can get real-time support directly from the platform. While BitMart does not offer phone support, its robust online help system ensures that users can resolve their issues efficiently and continue their trading activities with minimal disruption.
Conclusion of the BitMart Review
BitMart stands out as a versatile and reliable cryptocurrency exchange, catering to both novice and experienced traders. With a user-friendly interface, robust security measures, and a wide range of supported cryptocurrencies, it provides an all-encompassing trading experience. The platform’s advanced trading features, such as margin and futures trading, combined with a comprehensive mobile app, ensure that users can manage their investments conveniently and efficiently. Despite the lack of phone support, BitMart’s dedicated customer service channels, including live chat and a detailed support center, ensure that users receive timely assistance. Overall, BitMart is a commendable choice for anyone looking to engage in cryptocurrency trading on a secure and dynamic platform.
