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BitMart Review

Last Updated on March 20, 2024

James Headshot
Written by
Adam Headshot
Edited by
BitMart logo
3.82
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit BitMart

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

BitMart Exchange offers an attractive platform for digital asset trading, providing various trading options – from spot trading to futures markets – for users. Their commitment to security combined with an impressive selection of cryptocurrencies and user-friendly interface, make BitMart an appealing cryptocurrency exchange choice.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Wide range of cryptocurrencies available
  • User-friendly interface for beginners and advanced users
  • Offers spot and futures trading
  • Support for staking and lending services
  • Various payment methods supported

Cons

  • Has experienced security breaches in the past
  • Customer support can be slow to respond
  • Trading fees can be relatively high compared to some competitors
  • KYC verification process may be cumbersome for some users
  • Limited educational resources for new traders

Quick Summary

Headquarters Location International
Fiat Currencies Supported USD, AUD, GBP, CAD, EUR, NZD + 80 others (some through third party apps)
Total Supported Cryptocurrencies 1163+
Trading Fees 0.08% - 0.10%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Paypal, Apple Pay, Google Pay, Alchemy Pay, Banxa, MoonPay, Simplex, Legend Trading
Support Facebook, Twitter, Instagram, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Unveil yourself into the dynamic crypto trading platform known as BitMart, offering cryptocurrency enthusiasts variety and value. Since its inception, this dynamic trading platform has allowed users to gain access to an assortment of digital assets and trading options.

BitMart homepage

As one explores deeper into BitMart’s world, one discovers a trading ecosystem that goes far beyond offering cryptocurrency exchange services – it also cultivates a space where traders from diverse backgrounds converge, supporting innovation and accessibility initiatives. BitMart continues its rise to new heights by keeping pace with emerging technologies to enhance user experience and broaden market presence.

About BitMart

BitMart emergeds as an effective cryptocurrency exchange market contender with the goal of connecting people globally through seamless digital asset trading. Established by Sheldon Xia, BitMart now provides traders access to an array of tokens and trading pairs.

BitMart has steadily grown over time, building an international community of users by offering an innovative trading experience tailored to user needs.

BitMart features

BitMart successfully navigated the ever-shifting terrain of cryptocurrency markets with strategic partnerships and continuous platform updates that helped maintain competitive advantages. Eventually, market acceptance increased exponentially while challenges related to rapid industry evolution proved formidable. Through continuous platform upgrades and market innovation, however, BitMart maintained its edge.

This exchange has experienced its fair share of ups and downs within the cryptocurrency realm, adapting to market changes such as DeFi’s surge in popularity or the integration of blockchain innovations designed to meet diverse user requirements.

BitMart has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram, TikTok and YouTube.

BitMart has a mobile app on both the Apple App Store and Google Play.

BitMart Supported Cryptocurrencies

BitMart supports trading on over 1163 cryptocurrencies on their platform. This exchange currently supports 28 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Shiba Inu (SHIB)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • NEAR Protocol (NEAR)
  • Polygon (MATIC)
  • Litecoin (LTC)
  • UNUS SED LEO (LEO)
  • Dai (DAI)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Ethereum Classic (ETC)
  • Kaspa (KAS)
  • Aptos (APT)
  • Monero (XMR)
  • Render (RNDR)
  • Hedera (HBAR)

Download full list of cryptocurrencies BitMart supports

Trading Experience

BitMart’s exchange has been designed to offer traders an effortless trading experience, featuring an intuitive user interface and essential features like spot trading and futures trading with up to 100x leverage. Users can navigate this platform effortlessly.

This exchange also offers staking options that provide passive income streams.

BitMart captures the essence of modern crypto trading by offering an abundance of tools and options suitable for both novice and seasoned traders alike. Their trading dashboard serves as a hub of activity where market insights meet ease of execution.

BitMart’s range of trading types, from spot trading and margin borrowing to futures trading, reflects their understanding of the various strategies and preferences found among its trading community.

BitMart exchange marketing

BitMart Fees

BitMart’s fee model is tailored to accommodate both novice and seasoned traders alike, employing a tiered fee structure that corresponds with users’ trading volumes. Fees for both makers and takers are carefully balanced to encourage liquidity while withdrawal fees vary according to digital currencies traded on BitMart.

BitMart’s fee structure reflects industry norms, where equitable trading costs are an attractive feature for users. Their taker fee model aligns with how much liquidity each trader brings to the market for a balanced ecosystem.

BitMart’s fee strategy focuses on affordability and transparency to adapt to the evolving dynamics of cryptocurrency trading landscape.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Credit/Debit Card) 0%
Trading Fee 0.08% - 0.10%

BitMart supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.001 BTC. The average across all other exchanges that we've reviewed is 0.000415 BTC. This means BitMart charges above the industry average by 140.72%. This is worth noting because it likely means they are also charging higher fees and spreads across all cryptocurrencies on their platform.

BitMart has a maker/taker fee schedule which you can see below.

Level BMX holding balance &

Trading volume [30d]

Maker/Taker

Maker/Taker

(BMX 25% deduction)

LV1 BMX ≥ 0&< 150 BTC 0.1000% / 0.1000% 0.0750% / 0.0750%
LV2 BMX ≥ 500&< 150 BTC 0.0900% / 0.1000% 0.0675% / 0.0750%
LV3 BMX ≥ 2,000&< 150 BTC 0.0800% / 0.0900% 0.0600% / 0.0675%
LV4 BMX ≥ 10,000&< 150 BTC 0.0700% / 0.0900% 0.0525% / 0.0675%
LV5 BMX ≥ 50,000&< 150 BTC 0.0600% / 0.0800% 0.0450% / 0.0600%
LV6 BMX ≥ 100,000&< 150 BTC 0.0500% / 0.0600% 0.0375% / 0.0450%
LV7 BMX ≥ 200,000&< 150 BTC 0.0400% / 0.0500% 0.0300% / 0.0375%
LV8 BMX ≥ 500,000&< 150 BTC 0.0300% / 0.0500% 0.0225% / 0.0375%
LV9 BMX ≥ 1,000,000&< 150 BTC 0.0300% / 0.0400% 0.0225% / 0.0300%

Security - Is BitMart Safe?

BitMart security is enhanced through advanced measures, including multi-layer and cluster system architecture. Cold wallet storage protects most users’ digital assets while strict protocols and SMS verification systems add extra layers of safety in an effort to create an ideal trading environment.

BitMart takes security very seriously and has implemented advanced security measures, emphasizing their understanding that trust is at the center of any successful financial platform.

By updating and reinforcing its security protocols regularly, the exchange aims to stay ahead of potential threats, ensuring it remains an secure platform for traders worldwide.

BitMart Customer Support

BitMart’s customer support team is committed to providing timely and helpful assistance, through several channels including our comprehensive FAQ section, live chat support and email. Customers can expect their queries to be addressed with care.

Navigating the complex world of cryptocurrency trading requires expert advice, which is where BitMart’s customer support team excels. Committed to meeting user inquiries and needs with responsive service that builds trust among regular clients as well as newcomers alike, their team recognizes that responsive and comprehensive support are integral parts of fostering the confidence of both their regular customer base as well as potential newcomers alike.

BitMart support

BitMart Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on BitMart

  1. Create Account - Visit the BitMart website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Alchemy Pay
  • Banxa
  • MoonPay
  • Simplex
  • Legend Trading

BitMart Alternatives

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Binance

3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
394+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

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Kraken logo

Kraken

3.44
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
253+

Trading Fees
0.08% - 0.40%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
OKX logo

OKX

3.57
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
365+

Trading Fees
0.08% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

BitMart stands out with its wide variety of cryptocurrencies, advanced features and competitive trading fees. Additionally, its user interface caters to traders of all experience levels – making it an excellent option for anyone searching for a trustworthy cryptocurrency exchange.

BitMart stands as an impressive testament to the adaptability and creativity of digital finance platforms like BitMart. As crypto becomes an ever more significant component of global finance, exchanges serve a critical role in helping individuals transition towards digital finance.

Studies of the crypto industry point towards an expansive future filled with opportunities for innovation, with platforms which promote user empowerment and market diversity embracing this revolution at its heart.

BitMart FAQs

The trust in BitMart as a cryptocurrency exchange varies among users and can be influenced by personal experiences and the overall perception of the platform’s security and reliability. It’s noteworthy that BitMart suffered a significant security breach in December 2021, which led to the loss of approximately $196 million worth of cryptocurrencies.

Such incidents can affect the trust of users and potential customers.

The BitMart controversy mainly revolves around the security breach that occurred in December 2021. Hackers exploited a vulnerability and withdrew assets from a range of cryptocurrencies from BitMart’s hot wallets, which led to substantial financial losses.

The incident raised concerns over the security measures in place at BitMart and the safety of funds stored on the platform.

BitMart is a cryptocurrency exchange that was initially founded in the Cayman Islands with operational offices in China, South Korea, and the United States.

BitMart was founded by Sheldon Xia, who is known to be an entrepreneur with a background in computer science.

Withdrawal limits on BitMart can vary depending on the level of verification (KYC) a user has completed. Generally, users who have completed full identity verification may have higher withdrawal limits compared to those who have not.

Yes, BitMart requires Know Your Customer (KYC) procedures for its users to access full trading features and higher withdrawal limits. Completing KYC typically involves providing identification documents and personal information to comply with regulatory requirements.

Tier 1 exchanges are typically the most reputable and widely recognized exchanges with high liquidity and a large user base. BitMart is not commonly categorized as a Tier 1 exchange when compared to the largest and most established exchanges in the industry.

The minimum trade size on BitMart varies by cryptocurrency, but it is generally set to ensure that trades are of a size to be executable within the liquidity constraints of the platform. Users should check the specific requirements for each currency pair on the BitMart platform.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: