Finding a global cryptocurrency trading exchange that is user-friendly, secure and has a mobile trading app can be a challenging task. There are several other considerations such as features, charting interface, trading pairs, fees, security and customer support.
One of the leading cryptocurrency exchanges in the world to trade digital assets such as Bitcoin and Ethereum is BitMart exchange.
While we aim to provide you with accurate and the latest information in this Bitmart review, we strongly suggest that you visit the website to keep updated with any changes that may occur afterward.
Ease of use
We recommend using a Bitcoin hardware wallet when trading cryptocurrency. If you don't have a wallet, read our guide on the best cryptocurrency hardware wallets.
What Is BitMart?
BitMart is a leading digital asset exchange platform that allows users to buy, trade and sell cryptocurrencies such as Bitcoin and Ethereum. The exchange was founded in 2017 and has grown in popularity since its launch with over 2 million customers worldwide. BitMart has expanded its products and services offering to include futures trading, staking and lending services to earn rewards.
Is BitMart Safe?
BitMart appears to be a safe cryptocurrency trading exchange that uses a number of security measures to protect customer's personnel information and secure funds stored on the platform. There have been no reported hacks or security breaches on BitMart since its inception in 2017 according to our research.
BitMart Features & Services
BitMart offers cutting-edge trading products and services to its customers. The exchange is primarily a place to buy, trade and sell crypto, however, offers attractive features such as:
- Intuitive and easy to use trading platform suited to beginners and intermediate traders
- Spot market with over 90 crypto pairs against BTC, ETH, USDT and BMX tokens
- Futures market to trade crypto with leverage up to 100x
- Real-time market data and charting to trade popular altcoins
- Demo trade crypto with virtual money using a simulated futures market
- BitMart app to monitor portfolio and trade from anywhere
- A secure wallet that stores over 99% of funds in offline cold wallets to protect users funds
- Lending on digital assets such as USDC to earn crypto interest up to 6.25% annualized
- BitMart Shooting Star to allow high-quality blockchain projects to launch efficiently
- Referral and affiliate program with up to 30% referral rewards for bringing in new users
- Comprehensive training and education guides to help aspiring cryptocurrency traders
Advanced features, an intuitive user interface and a mobile trading app are important features on BitMArt. This comparison table lists alternate crypto exchanges like BitMart that offer world-class features.
(reduces on volume)
Trading Crypto With BitMart
The user interface is one of the most important considerations on a cryptocurrency exchange such as BitMart to trade cryptocurrencies on the spot or futures markets. BitMart provides a beginner-friendly user-interface to trade the crypto spot market, with a slightly different appearance for the futures markets to include leverage options.
Beginners that trade on the spot exchange will be comfortable with the arrangement and trading tools provided within the integration to TradingView to overlay several technical indicators such as:
- Moving averages
- Bollinger bands
- Relative strength index
- Volume, and many more.
TradingView is widely considered to be one of the best charting and software packages to speculate on the cryptocurrency markets with the abundance of options and tools for traders of different skill levels and technical trading styles.
On the left, the cryptocurrency trading pairs are organized under Bitcoin, Ethereum, USDT and BMX and select altcoins. This allows easy navigation and filtering to find a specific cryptocurrency pair to trade. There is also the option to favorite coins for quick access.
Current positions and pending orders are shown at the bottom, with the chart in the middle which can be expanded to full screen. This is a typical charting arrangement that traders will be familiar with. On the right, the recent traders and order book is positioned, which will be useful for professional and advanced cryptocurrency traders.
The order window allows traders to enter a position using a limit and market order. Compared to other leverage trading cryptocurrency exchanges, this is very basic and should be expanded to include other order types which provides greater trade management and control over risk exposure.
Overall, trading spot on BitMart is simple and includes all the basic trading tools with some advanced options to buy, trade and sell digital assets with confidence. There are no complicated menus or distractions and will suit beginners looking to trade the spot crypto markets.
Futures Trading With Leverage
BitMart provides a different user-interface to allow customers to trade digital assets with margin. The most popular trading pairs such as Bitcoin, Ethereum and DeFi tokens can be traded on BitMart. A great feature on the futures exchange is the simulated trading to practice crypto trading. Users can seamlessly switch from trading with real funds to virtual money using a single user-interface as pictured below.
Traders can trade digital assets on the futures markets with a margin multiplier of 5, 10, 20, 50 and 100x. There isn't too much difference between the spot and futures interfaces. We would prefer to see a beginner and advanced trading mode similar to Binance and Digifinex, or just merge the both user-interfaces together with a toggle to switch to margin trading.
Buy Crypto Using BitMart
Customers can top up their trading account and purchase digital assets directly from BitMart exchange using fiat currencies USD, EUR and CAD. This feature is provided by third party provider Simplex, which accepts Mastercard and VISA credit/debit cards. There is a minimum transaction of $50 and a daily limit of $20,000 USD per user which is reasonable for beginners and intermediate crypto investors.
Similar to other providers that accept credit/debit card deposit methods, the fees to buy crypto with a credit card are 5% per transaction of $10 USD (whichever is higher) which is a little high compared to traditional payment methods.
BitMart also provides support for its customers to buy crypto using Amazon Gift cards, Apple Pay, Bank Transfer and PayPal through its integration with other payment providers such as MoonPay and Paxful.
BitMart Lending & Crypto Interest Up To 40%
BitMart has recently joined the market to offer crypto-backed loans and high-interest savings accounts to earn interest on digital assets which are increasingly becoming popular as an alternate to traditional financial institutions such as banks. BitMart lending offers up to 40% annualized interest rates on digital assets and stablecoins such as USDC.
The lending program offered by BitMart incentivizes its customers to hold and earn rewards on cryptocurrency assets. There are several lending options available such as 15, 30, 90, 180 and 365 days to lock in and accrue interest, regardless of how the cryptocurrency market performs.
BitMart Staking to Earn Rewards
BitMart has launched a staking service to earn rewards on cryptocurrencies such as DASH, QTUM, EUM, BHD and ALGO. Similar to lending digital assets to receive high-interest benefits, staking coins such as ALGO offers an estimated yield of 15% per year. It is important to note the BitMart staking rewards are calculated daily and distributed monthly, so the estimated earnings can vary.
BitMart uses a 'maker and taker' model to determine the trading fees which starts from 0.25% respectively and reduces with trading volume. The spot trading fee is very competitive, however is slightly higher than its closest competitors such as Binance and KuCoin.
Similar to these exchanges like BitMart, customers that use the platform's native token 'BMX' to pay for transaction fees are eligible for a 25% discount on trading fees as shown below. This gives an incentive to traders to use the BMX token which supports the exchange.
Deposit & Withdrawal Fees
To deposit funds to BitMart, there is no transaction fee. Withdrawal of cryptocurrency assets from the trading exchange will incur the standard blockchain network fee which is unavoidable and is adjusted automatically based on market conditions.
The withdrawal fee for each asset and limits can be found on the BitMart fees page.
BitMart utilizes several security features to protect users information and funds safe and secure. According to the website, the below methods are implemented which are common and industry-standard practises for a cryptocurrency exchange.
For further information, visit the BitMart Security page or contact the team.
- 2FA authentication (extra layer of protection that requires a one-time code from a smartphone to perform actions such as login and withdraw funds)
- Withdrawal confirmation (secondary confirmation via email or phone is required to withdraw funds from the exchange)
- IP address detection (user's IP addressed are recorded, monitored and linked to the account. If a different IP address is detected, the user will be required to confirm their account login via email
- Encrypted personal information (user's information and personnel details such as ID, phone numbers, name and address that is used for KYC are encrypted and securely stored. Passwords are stored in hashed form for additional security
- Cold wallet storage (less than 0.5% of asset stored on BitMart are kept on a hot wallet that is used for day to day operations such as customer withdrawals Greater than 99% of the funds are located in offline cold wallet storage which is not connected to the internet and requires multiple signatures from the BitMart team to access
Customer Support & Reviews
BitMart has an extensive FAQ and help section to assist beginners to learn and get started with trading crypto assets on the exchange. Users that can't find help in the guides can use the live chat bot to speak with a customer support staff.
According to reviews on TrustPilot, BitMart cryptocurrency exchange has a 4/5 star rating based on 62 comments. User's comments are generally positive with excellent feedback on customer service and trading experience. As with all feedback, there are a few negative comments and users should take these into consideration when looking for a new crypto trading exchange.
Frequently Asked Questions
Who Is The BitMart Team?
The team behind BitMart has extensive experience with top-tier tech firms such as Amazon, Accenture, Tencent and Alibaba according to the website. The founders of BitMart aim to accelerate the adoption of cryptocurrency to individuals in all parts of the globe to bring a better financial system based on blockchain technology.
Is BitMart Exchange Legit?
BitMart appears to be a legitimate cryptocurrency exchange since its launch in 2017 and has served over 2 million customers worldwide on its trading platform to date.
Where Is BitMart Located?
BitMart is a global digital assets platform with offices located in New York, Greater China, Seoul and Hong Kong to support customers based in over 180 countries in multiple jurisdictions across the globe.
Which Countries Does BitMart Support?
BitMart supports over 180 countries in the world including the United States to buy, trade and sell crypto. Not all states within the US have been approved such as Connecticut (CT), Georgia (GA), Hawaii (HI), New Mexico (NM), New York (NY) and Washington (WA). Other countries that are restricted from trading on BitMart include:
- Congo (Brazzaville)
- Congo (Kinshasa)
- Democratic People's Republic of Korea
- Ivory Coast
- South Sudan
To conclude our BitMart review, the exchange is a leading cryptocurrency trading platform that offers customers all over the world to buy, trade and sell digital assets such as Bitcoin and Ethereum using a safe and beginner-friendly desktop or mobile trading app.
BitMart crypto exchange has launched new services and products such as lending and staking for its users to earn rewards, while trading and holding assets on the platform. Cryptocurrency traders that are looking for a new exchange to trade Bitcoin should consider using BitMart.
Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges - in addition to the above exchange - provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders.
- Beginner-friendly digital asset exchange
- Highly intuitive mobile trading app
- Over 90+ crypto pairs to trade
- Up to 100 times leverage on the futures market
- 25% discount on fee's by using BMX token to pay
- Trading fees are a little high
- No advanced order types (limit and market only)