BitMart is a cryptocurrency exchange platform that allows individual traders and institutions to buy, sell, and trade cryptocurrencies. It offers a simple buy/sell feature for beginners in addition to its advanced spot and futures trading dashboards. It was founded by Sheldon Xia in 2017.
BitMart Review - Cryptocurrencies Available
You can trade over 1000 cryptos and tokens on BitMart. It offers some of the most popular cryptos that you can trade on the platform – including Bitcoin, Etherum, Solana, Cardano, etc.
BitMart Review - Devices supported
You can use the web-based platform provided by BitMart, and you can also use its mobile app, which is available on both Android and iOS.
BitMart Review - Crypto buying options
Users can buy cryptocurrencies using Visa, Mastercard, Apple Pay, and PayPal.
BitMart Review - Fees
BitMart provides its users with a tiered fee structure. Those users who have higher trading volumes tend to pay lower fees. For price makers and takers, default fees start at 0.2500%. For holders of BMX tokens who use the token to cover trading fees, fee deductions apply.
BitMart Review - Customer service
BitMart offers its customer service through a dedicated support center, support tickets, and live chat. The customer support team is active 24/7.
BitMart Review - Account management
BitMart provides accounts for both individuals and institutions. Via its dashboard, available on mobile apps for both Android and iOS, users can manage their accounts.
On BitMart, account management is mostly self-serve, but it offers multiple customer support options for those who need assistance.
BitMart Review - Security
For everyday trading operations, BitMart offers an advanced risk control system. It also offers hybrid cold/hot wallet systems and multi-signature technologies. It uses 2FA authentication traders can access the account only when they have an authentication code on their smartphones.
For the withdrawal of funds, the wallet needs a confirmation code that is sent to the trader’s smartphone or email. BitMart has protection against DDOS attacks, automatic backup of the database, and SSL-secured (HTTPS) protection.
BitMart - Platform and Interface
The interface of BitMart is strategically designed for traders to trade the crypto spot market with a slightly different appearance from the futures market. This is done so as to include leverage options. The charts can be used to overlay several technical indicators such as Moving averages, Stochastics, Bollinger Bands, Relative strength Index, Volume, and many more so that readers with intermediate experience who trade on the spot exchange will be comfortable with the arrangement and trading tools provided.
BitMart Review - Trading products and services
Users can use the cutting-edge trading products and services offered on the BitMart platform like:
- Spot market with crypto pairs against BTC, ETH, USDT and BMX tokens
- Futures market to trade crypto by using leverage up to 100x
- BitMart app to monitor portfolio and trade from anywhere in the world
BitMart Review - Demo account
The simulated trading environment of BitMart has the same appearance as a live trading account. It has a large selection of coins that can be traded using its demo account. Within the BitMart platform, the demo mode can be toggled.
BitMart Review - Futures Trading with leverage
BitMart has a different user interface to allow customers to trade cryptos with leverage. The most popular cryptos can be traded on it. Futures are perpetual contracts with no expiration. For settling the futures, there are USDT-settle futures, or settling can be done in the currency itself. In the futures market, traders can exchange crypto with a margin multiplier of 5 or 10, 20, 50, and 100x.
BitMart Review - Staking with BitMart
To earn rewards on cryptocurrencies like TRX, ADA, MATIC, QTUM, and ALGO, BitMart has launched a crypto staking platform. It is similar to its crypto savings account. Staking coins like SOL offer an estimated annual yield of 4% per annum. BitMart staking rewards are calculated daily and are distributed on a monthly basis. That means that the estimated earnings can vary. This feature can appeal to longer-term traders that have idle funds in their wallets.
BitMart Review - NFT marketplace
BitMart has recently introduced its NFT marketplace, which offers access to trade NFTs. It supports Ethereum-based NFTs, and users can trade NFTs but cannot mint them through BitMart. A small transaction fee is incurred by users for buying or selling NFTs, and a royalty fee is set by the NFT collection owner. The marketplace lacks in the selection and does not support the most popular NFTs on the market.
BitMart Review - Deposits and Withdrawals
BitMart does not handle fiat deposits. It instead employs third-party gateways to handle all fiat-to-crypto-related transactions. It has partnered with different platforms to provide access to fiat currencies and a large number of cryptos that can be purchased and deposited into a user’s BitMart account.
The deposit speed and fees can vary according to the fiat currency being used and the provider selected. To purchase crypto with fiat, users must have a ‘Starter’ verified account to purchase crypto with fiat.
To conclude our BitMart Review, we can say that it appears to be a leading crypto trading platform globally. It offers a beginner-friendly desktop and mobile trading app. It has launched new products and services like interest accounts and staking for its users to earn rewards while trading and holding assets on the platform.