BitMart currently offers both fiat-to-crypto and crypto-to-crypto trading for coins and utility tokens only. They also expanded their spot trading offering by adding futures trading, lending, and staking. What makes BitMart stand out among its peers is the large number of digital currencies and tokens offered on the platform. With over 1,000 tradable digital assets, traders who prefer to speculate on smaller altcoins and newly-issued tokens will appreciate what BitMart offers its customers.
- Discover why BitMart has become a go-to platform for both market makers and takers.
- It is important to note the BitMart staking rewards are calculated daily and distributed monthly, so the estimated earnings can vary.
- BitMart provides a web-based digital asset trading and investing platform and a mobile app for Android and iOS.
- Bank and wire transfers are also supported, but only for BTC and ETH, while Mimos, Alipay, and UniPAY are only available for USDT.
- Every time you place an order, the exchange charges you a trading fee.
- This token can be used on the BitMart platform in voting to get new projects listed and qualify for a discount on the trading or transaction fee charged.
There have also been numerous reports about issues withdrawing assets, which may deter new users from signing up. Companies looking to open an institutional trading rtt bitmart account must complete a more detailed onboarding process. Accounts feature 2FA authentication, which is one of the best ways users can secure their accounts.
Threads or posts which personally attack or otherwise harass specific people or users are strictly prohibited. While BitMart has been hacked in the past (on 3 December 2021), we still think that it is correct to say that BitMart today, from a user perspective, is secure. Perpetual contract use an ADL mechanism instead of an account sharing mechanism. This is in order to deal with the losses caused by forced liquidation of big positions.
It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences. BitMart is allowed in the United States, but its Earn and Lending products are not available to U.S.-based users. BitMart’s website notes an “advanced risk control system,” operating a hybrid hot and cold wallet system and deploying multi-signature technologies. However, the $196 million hack the exchange experienced in December 2021 suggests that BitMart’s security could use some work. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development.
BitMart is a global crypto exchange that both beginners and experienced traders can use to buy and sell an exceptionally long list of digital assets. The exchange also offers a range of yield-generation opportunities for crypto holders and gives users early access to tokens https://cryptolisting.org/ issued via its in-house token launchpad. BitMart has a tiered fee structure, where users with higher trading volumes (based on trading volume over a 30-day period in BTC) pay lower fees. Fee deductions apply to BMX token holders who use the token to cover trading fees.
Holders are rewarded for simply depositing and holding coins on BitMart as they normally would. Staking at BitMart is available for hundreds of different cryptos, with very different APYs (Annual Percentage Yield), which essentially is the same as interest rates). The following is a snapshot of certain cryptos available for staking on BitMart (obtained on 22 January 2023). BitMart offers many of the same products and services as leading global exchanges, such as Binance, CEX.IO, Poloniex, and Huobi Global.
If you click on links we provide, we may receive compensation. Also, as a measure of security, passwords are stored in a converted form through a process known as hashing, which helps to secure passwords because a hash cannot be decrypted back to its original form. Numbers, names, and identity document scans, is encrypted and securely stored. To encourage its expansion, BitMart offers a form for those who want to list their coins on the platform. BitMart officially launched its spot crypto trading platform in March 2018.
The interface features all the crypto pairs on the left side, divided into categories based on whether they include BTC, ETH, or USDT. As I already said, BitMart was created by cryptocurrency enthusiasts. It officially came into existence in March 2017 when it built an international team with departments for marketing, operations, and tech.
While we are at it, here is a list of other top places where you can stake your coins. Bank and wire transfers are also supported, but only for BTC and ETH, while Mimos, Alipay, and UniPAY are only available for USDT. MoonPay, credit card, and Apple Pay are available only for BTC, ETH, BCH, LTC, EOS, and XRP purchases, while Paxful, WeChat, Alipay, PayPal, and Gift card purchases are only available for Bitcoin. There is also a repurchase mechanism for BMX, where the BitMart team intends on using 20% of its profits each quarter to buy back and burn BMX, until 50% of the total BMX supply is left.
BitMart’s has a very competitive offering concerning both trading fees and withdrawal fees. The BitMart fee structure is based on a Maker/Taker model (takers are the one who takes an existing order from the order book, while makers make the orders that get taken). The fees are charged differently for “ordinary” and “professional users”. BitMart is a legitimate cryptocurrency exchange with over nine million users in over 180 countries, according to its website. The exchange has over 1,000 cryptocurrencies listed, and it is set up for beginners and experienced traders to buy and sell from its website.
The only BHD, ALGO, DASH, ATOM & QTUM staking is currently allowed on the platform. Account management on BitMart is mostly self-serve, though the exchange does offer multiple customer support options for users who need assistance. There are also different account levels based on each user’s 30-day trading volumes that determine the amount of trading fees charged on each trade. Users can manage their accounts via the BitMart online dashboard or its mobile apps, available for Android and iOS.
While BitMart offers all the features you’d expect from a global crypto exchange, it was hacked in December 2021, which resulted in an estimated $196 million cryptocurrency theft. BitMart and Coinbase are both cryptocurrency exchanges with solid customer reviews. Coinbase is recommended for beginners because of its smaller offerings (over 250 cryptocurrencies) and easy-to-use platform. BitMart has a simple buy/sell feature on its site, which is also helpful to new traders, but it offers over 1,000 cryptocurrencies on its exchange, giving it a slight edge over Coinbase. In 2018, BitMart launched the BitMart Token (BMX), which provides token holders with trading discounts and other benefits on the exchange.
✅ You can also stake a dozen of PoS coins via BitMart without paying any fees to BitMart. The company has been rated as user-friendly since users do not need a computer to access the platform. BitMart’s platform can be accessed on mobile phones throughout its application which is comprehensive and allows you to perform all the tasks available on the web browser version.
When it comes to depositing options, BitMart offers users a variety of ways to fund their accounts. You can use your credit or debit card or Apple Pay, or even bank and wire transfers. Plus, you can take advantage of third-party partners such as Legend Trading (which accepts ACH bank account transfers), MoonPay (accepts debit cards/credit cards)! Buying cryptos on the BitMart crypto exchange is relatively simple. BitMart will also connect major trading platforms worldwide, allowing for borderless transactions, which will allow users to complete transactions that span multiple platforms within a single click. ✅ BitMart allows for Spot Trading, which is the most common type of trading on the exchange.
The token helps support the re-election efforts and causes supported by President Donald J. Trump, with 1% of each transaction going towards the initiative. It has however been reported that all user assets affected by the hacking was recovered or reimbursed. CaptainAltcoin.com does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. Overall, BitMart is very easy to use and its platform is intuitive to use and well laid out. On the right, there are the order books for buying and selling crypto, and in the middle of the page you can find the relevant information on pricing and changes.