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Bitmart Review

Last Updated: Aug 13, 2022  |  Published: Apr 9, 2022


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Our Review 

Bitmart has 750+ cryptocurrencies, 0.25% trading fees and is available in 180+ countries. It is one of the largest crypto exchanges in the world according to trading volume and has a variety of features like staking, lending, futures, 24/7 support and more. The downsides are no fiat wallets and higher trading fees compared to other platforms.

Where It Shines:

  • Lots of Altcoins (750+)
  • High Trading Volume: Bitmart is top 20 in the world for total trading volume (source: CoinGecko)
  • Available in 180+ Countries: Bitmart is available almost everywhere
  • Lots of Features: Altcoins, staking, lending, futures, Bitmart Earn and more

Where It Falls Short:

  • No Fiat Wallets: Bitmart only offers crypto trading pairs. You can purchase fiat to crypto via credit card but it has a high 3.85% fee
  • Higher Trading Fees: 0.25% trading fees high compared to bigger platforms like Binance (0.10%) and KuCoin (0.10%). Some discounts are available if you hold their BMX token

Bitmart

Overview

Updated: Apr 8, 2022 | | Total Fees & Spreads: Coming Soon

Coins Offered

750+

Total BTC Purchase Fee

[coming soon]

Total BTC Selling Fee

[coming soon]

BTC Spread

[coming soon]

Trading Fee

0.25% Maker

0.25% Taker

Fiat Wallets

0 (not supported)

BTC Withdrawal Fee

0.0005 BTC

Notable Features

Lots of coins, 9m+ users, top 20 exchange in total trading volume

Supported Countries


Best Alternatives

Here are the best crypto exchanges around the world that are supported in many countries. We assessed 21 platforms across 40+ variables and 950+ data points.  

Binance
  • 600+ cryptocurrencies
  • Lowest spreads and fees in the industry
  • Most features in the industry
  • Not beginner friendly
Kucoin
  • Low spreads and fees if you fund your account with crypto
  • 700+ cryptocurrencies
  • Trade anonymously (all you need is an email right now)
  • Not beginner friendly
Crypto.com
  • Best crypto credit cards
  • Earn interest on 40+ coins
  • Lots of fiat currencies supported
  • High spreads
  • User interface
Coinbase
  • Best reputation, publicly traded company
  • Best for beginners
  • Beginner + Advanced trading
  • Very high fees overall
FTX
  • Low trading fees and low overall fees
  • Lots of advanced features
  • Hard for beginners
RankFinance

Find the best crypto exchanges with our free comparison tool


Compared

Compare the world's most popular cryptocurrency exchanges:

Name

Coins

# of Features

Standard Trading Fee

Supported Countries

Fiat Wallets?

BTC Withdrawal Fee

Website

240+

15+

0.10%

190+

No

0.0005 BTC

Binance

Binance 🏆(#1 overall)

600+

30+

0.10%

100+

Yes

0.0005 BTC

150+

15+

0.20%

?

Yes

0.0004 BTC

750+

10+

0.25%

180+

No

0.0005 BTC

50+

5+

0.50%

?

Yes

0.0005 BTC

300+

5+

0.75%

100+

Yes

0.0003 BTC

140+

15+

0.10%

180+

No

0.0005 BTC

170+

10+

3.99%

100+

Yes

Dynamic

110+

5+

0.60%

100+

Yes

Dynamic

30+

10+

0.10%

150+

Yes

0.15%

250+

20+

0.40%

90+

Yes

0.0006 BTC

40+

10+

0%

50+

Yes

0.50%

190+

20+

0.07%

180+

Yes

Free/Dynamic

1000+

30+

0.195%

190+

No

0.001 BTC

60+

15+

1.49%+

60+

Yes

0.001 BTC

60+

10+

0%

100+

Yes

0.0005 BTC

500+

20+

0.20%

130+

Yes

0.0005 BTC

190+

10+

0.26%

190+

Yes

0.00002 BTC

500+

20+

0.10%

190+

No

0.0005 BTC

350+

25+

0.10%

100+

No

0.0002 BTC*

300+

10+

0.155%

100+

No

0.0005 BTC

130+

10+

0%

180+

Yes

0.0003 BTC + $2.99


Screenshots

Updated: Apr 9, 2022

[Coming Soon]


Bitmart

About Bitmart

Updated: Apr 9, 2022

Bitmart is a global cryptocurrency exchange available in 180+ countries. They were founded in 2017, have over 9 million users and are a top 20 crypto exchanges in the world for total trading volume (source: Coingecko).

On Bitmart, you'll find 750+ cryptocurrencies, billions in 24hr trading volume, spot trading, futures, staking and other crypto features and services.

Some Stats:

  • Founded in 2017
  • Available in 180+ countries
  • Over 9 million users
  • Headquarters in the Cayman Islands 🇰🇾

Fees & Spread

Updated: Apr 9, 2022

Price Test & Spread

Price Test (On Apr x, 2022)

Prices

Total BTC Purchase Fee

0.00%

Total BTC Selling Fee

0.00%

Trading Fee

0.25% Maker

0.25% Taker

BTC Spread

0.00%

BTC Buy Price

$00,000

BTC Sell Price

$00,000

Ref. Price Difference

Buy:

Sell:

Reference Price (Google)

$00,000

More Information

We tested 20 cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • *Total BTC Purchase Fee = Trading Fee + Buy Reference Price Difference
  • *Total BTC Selling Fee = Trading Fee + Sell Reference Price Difference

Keep in mind, there could be additional fees for depositing/withdrawing fiat. Check fees for your local fiat currency if it is supported on this exchange.

You can compare all platforms tested on this page

Trading Fee Discounts

Bitmart Dynamic Trading Fees

Coming soon.


Deposit & Withdrawals

Updated: Apr 9, 2022

Fiat Currencies

Fiat Wallets

(Deposit/Withdrawals supported)

0 (no fiat wallets supported)

Credit/Debit Card

Yes (3.85%+ fee via Moonpay)

P2P Exchange

No

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

0.0005 BTC

0.005 BTC

Ethereum

0.0013 ETH

0.01 ETH

USDT

2 USDT

10 USDT

XLM

0.01 XLM

100 XLM

What We Found

Bitmart only offers crypto trading pairs and does not support fiat wallets. You can do fiat-crypto purchases with credit card but it has a high 3.85% fee. The other way to fund your account is with crypto deposits/withdrawals. If you decide to use Bitmart, you will need a local exchange that supports your bank account to cash out fiat.


Platform & Features

Updated: Apr 8, 2022

List of Features:

  • iOS, Android and Web app
  • 750+ Cryptocurrencies
  • Spot Trading
  • Futures
  • Earn
  • Launchpad
  • Shooting Star
  • Staking
  • Lending
  • BMX (native token)
  • Referral Program

1. iOS, Android and Web App

2. Markets

3. Trading Interface

4. Futures

5. Bitmart Earn

6. Launchpad

7. Shooting Star

8. Staking

9. Lending

10. BMX (native token)

11. Referral Program

Other

  • API Keys Management
  • Institutional Accounts

Security

Updated: Apr 9, 2022

Bitmart Dec 4, 2021 Hack

On Dec 4, 2021, Bitmarts hot wallet was compromised and hackers were able to withdraw about $200 million worth of tokens. The good news is Bitmart promised they would reimburse customers for the losses. The bad new is it's unclear if all users were paid back according to reports from The Verge.

Source: The Verge

Company Security Features

  • More than 99% of assets held in offline cold storage
  • Less than 0.5% of assets held in hot wallets
  • Good reputation which adds a layer of trust: One of the largest crypto exchanges in the world by trading volume and 9m+ users
  • KYC required (must prove identity to trade)
  • All personal info is encrypted
  • All employees must pass background check and technical security training
  • Bug bounty program
  • See more info on their security page

User Security Features

  • 2FA (SMS, email, authenticator)
  • 2FA for withdrawals
  • Anti-phishing code
  • View login history for suspicious activity (recent logins, IP addresses, etc)

Can You Trust Bitmart?

Yes, Bitmart is considered a trustworthy platform. They offer 2FA and hold 99% of funds in cold storage. Although they were hacked in 2021, the CEO said they dramatically upgraded their security and would reimburse its users for the losses.

⚠️ Although this platform is considered safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet like the Ledger Nano X.


Customer Support

Updated: Apr 9, 2022

Bitmart offers 24/7 customer support. You can open a live chat on their website, submit a request via email or browse their help centre with articles and FAQs.

Bitmart Customer Support
Bitmart

Bitmart

Trade 750+ cryptocurrencies