Copy of Review 1 - Blank

Bitmart Review

Last Updated: Feb 21, 2024  |  Published: Apr 9, 2022


This post may contain affiliate links. Learn more.

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

A summary of the industries major cryptocurrency exchanges and brokers. Over the last 3 years, we've put the leading platforms to the test across 60+ features each. Find our free comparison tool for more research or check out our Best Crypto Exchanges of the year.

Name

Coins

Standard Trading Fee

Supported Countries

Fiat Wallets?

BTC Withdrawal Fee

Website

240+

0.10%

190+

No

0.0005 BTC

Binance

Binance 🏆(#1 overall)

400+

0.10%

100+

Yes

0.0005 BTC

150+

0.20%

?

Yes

0.0004 BTC

1000+

0.25%

180+

No

0.0005 BTC

50+

0.50%

?

Yes

0.0005 BTC

300+

0.75%

100+

Yes

0.0003 BTC

Bybit

Bybit 🏆

1000+

0.10%

180+

No

0.0005 BTC

200+

3.99%

100+

Yes

Dynamic

110+

0.60%

100+

Yes

Dynamic

30+

0.10%

150+

Yes

0.15%

250+

0.40%

90+

Yes

0.0006 BTC

40+

0%

50+

Yes

0.50%

Gate.io

Gate.io 🏆

1400+

0.195%

190+

No

0.001 BTC

60+

1.49%+

60+

Yes

0.001 BTC

60+

0%

100+

Yes

0.0005 BTC

500+

0.20%

130+

Yes

0.0005 BTC

200+

0.26%

190+

Yes

0.00002 BTC

Kucoin Exchange

KuCoin 🏆

700+

0.10%

190+

No

0.0005 BTC

MEXC Global

MEXC 🏆

2000+

0.10%

190+

No

0.0003 BTC

OKX

OKX 🏆

400+

0.10%

100+

No

0.0002 BTC*

300+

0.155%

100+

No

0.0005 BTC

130+

0%

180+

Yes

0.0003 BTC + $2.99


Bitmart

About Bitmart

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

Trading Fee Discounts

Bitmart Dynamic Trading Fees

Deposit & Withdrawals

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

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

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

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