BitMart

What is BitMart？

BitMart is a cryptocurrency exchange established in 2018, with its main office in the Cayman Islands and additional locations in the US, China, and Hong Kong. BitMart supports more than 1,500 different cryptocurrencies, handling over $10 billion in trading within a day. BitMart provides features such as margin trading, staking, and the option to deposit fiat currency. The fees for trading are set this way: taker fees vary from 0.0200% to 0.0000%, while maker fees range from 0.0150% to 0.0000%.

Pros and cons

Security

BitMart boasts that it provides different security measures to keep users' assets safe. These include:

Cold storage: BitMart stores the majority of its user funds in cold storage, which is an offline environment that is not connected to the internet. This makes it much more difficult for hackers to access user funds.

Multi-factor authentication (MFA): BitMart requires users to enable MFA for their accounts. MFA adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

IP whitelisting: BitMart allows users to whitelist specific IP addresses that can be used to log into their accounts. This helps to prevent unauthorized access from unknown IP addresses.

Transaction signing: BitMart uses transaction signing to ensure that users are the only ones who can approve withdrawals from their accounts. This prevents hackers from being able to withdraw funds without the user's consent.

Security audits: BitMart undergoes regular security audits by independent third parties. This helps to identify and fix any security vulnerabilities that may exist.

Cryptocurrencies available

BitMart has more than 1,500 cryptocurrencies available for trading, making it one of the biggest exchanges globally in terms of listed cryptocurrencies. This is particularly helpful for users interested in trading new and innovative digital currencies.

Some of the most popular cryptocurrencies available on BitMart include:

How to open an account？

Here are the steps on how to open an account on the BitMart exchange:

Go to the BitMart website and click on “Create Account”.

2. Enter your email address and password.

3.Click on “I agree to the Terms of Service and Privacy Policy”.

4. Click on “Create Account”.

5. A verification code will be sent to your email address. Enter the verification code and click on “Verify”.

6. Your account will be created. You will need to verify your identity before you can start trading.

To verify your identity, you will need to provide your full name, date of birth, and government-issued ID. You will also need to take a selfie. Once your identity is verified, you will be able to start trading on BitMart.

Fees

For standard users, the trading fee is 0.25% regardless of whether you are a maker or taker. But, you can get a 25% discount on this fee if you use BMX, the BitMart exchange's own token, to pay your trading fees. BMX offers benefits like reduced trading fees for exchange users.

For professional users, the trading fees vary based on the trading volume, ranging from 0.02% to 0.00% for makers, while takers' fees range from 0.03% to 0.02%. As trading volume increases, the fees decrease for both makers and takers.

Deposit & Withdrawal

BitMart supports multiple payment methods, including

Credit/Debit Card

Bank Transfer

Apple Pay

PayPal

Gift Cards

Deposits on BitMart are free of charge, and there are no fees for holding assets in your BitMart wallet. However, when you withdraw your cryptocurrencies, a small fee applies based on the specific cryptocurrency and network you're using. This fee can change over time due to the blockchain's condition. Additionally, remember that you might need to cover a gas fee along with the transaction fee. This gas fee can also change depending on how busy the blockchain is.