BitMart Exchange Review 2021 – Details, Trading Fees & Features

This BitMart exchange review discusses most of the things about the BitMart exchange and its features. However, this article should not be taken as financial advice. Instead, we urge the traders and investors to do their own research before getting involved in cryptocurrencies.

BitMart is one of the exchanges in the crypto world that has a friendly user interface. In addition, the exchange can also be downloaded on Android and Apple devices. As a result, crypto traders and investors can easily access their favorite cryptos such as BTC, ETH, and XRP anywhere. 

Furthermore, the exchange offers features such as a charting interface, decent fees, various trading pairs, and customer support. These features enable all the users of the exchange to have a good trading experience. With this, we can say that Bitmart exchange allows users to buy and sell crypto in an easier way.

On the other hand, the BitMart exchange continues to be among the top crypto exchanges in Coingecko in terms of 24-trading volume. At the time of writing, BitMart exchange has a total amount of almost $800 million trading volume. In addition, the exchange supports a total of 285 coins with 378 crypto pairs.

Now that we already have some idea about BitMart, do you think BitMart is a good exchange? Are you already curious? Therefore, what are you waiting for? Join me in this BitMart exchange review to see the potential of this exchange.

BitMart Exchange Details

Website:	https://www.bitmart.com/trade/
Available on mobile:	Yes
Number of supported coins/tokens:	285
Number of supported trading pairs:	378
Native token:	BMX
Supported fiat currencies:	USD, GBP, and more
CEO:	Sheldon Xia
HQ Location:	Cayman Islands

History Overview

In this part of the BitMart exchange review, we will discuss the history of the exchange. In other words, this is the part where we talk about how the exchange was formed and its current progress.

In 2017, the BitMart exchange was founded by Sheldon Xia. Interestingly, the headquarters of BitMart is located in the Cayman Islands with branches in other parts of the world. For instance, China, the United States, and South Korea are some of the branches of BitMart around the world. With this, we can say that BitMart exchange is truly building its stage presence globally.

Furthermore, BitMart exchange has fused its network with an advanced multi-layer and multi-cluster system architecture. In short, this technology enables the exchange to have good security, scalability, and stability.

In January 2018, the BitMart network created its native asset called BMX. This token is an ERC20 token that is issued under the Ethereum blockchain. For this reason, BMX completely follows the rules set by the Ethereum network. However, BMX also takes advantage of the technology that Ethereum shares in its network.

Few months after the creation of the BMX token, the BitMart exchange launched its spot trading in March 2018. As a result, traders and investors can now buy, sell and hold crypto’s using the BMX exchange. With this, the exchange was able to attract more crypto investors to its platform. Interestingly, the exchange successfully gained over 600k customers from different countries around the world.

After the launch of spot trading, the exchange released its new product called BitMart Lending on January 24, 2020. Specifically, BitMart Lending is a financial product based on digital assets with an investment term and yield.

Platform Interface

The BitMart exchange continues to maintain its user-friendly interface to provide a seamless trading experience to all its users. For this reason, all kinds of traders visiting or using the platform will not have a hard time trading crypto.

Key Features and Functions

• User-friendly exchange
• Available on Android and Apple devices
• Over 90 pairs of crypto to buy and sell
• Up to 100 times leverage on the futures contract
• Discount on fees up to 25% upon using BMX token
• Reward up to 30% for every successful referral
• Supported by over 180 countries around the world

Supported Cryptocurrencies

This BitMart exchange review will enable you to determine the list of cryptocurrencies that the BitMart exchange supports. In addition, the virtual assets listed on the BitMart exchange can be traded directly with each other. Best of all, traders can also stake their crypto’s in the exchange staking or liquidity pool to earn more tokens. But, of course, the staking depends on the availability of the staking pool offered by the exchange.

Bitcoin (BTC)	Polkadot (DOT)
Ethereum (ETH)	Tether (USDT)
Ripple (XRP)	Dogecoin (DOGE)
Qtum (QTUM)	USD Coin (USDC)
EOS (EOS)	Shiba Inu (SHIB)
Litecoin (LTC)	Theta Network (THETA)
Cardano (ADA)	Kusama (KSM)
VeChain (VET)	Bitcoin Cash (BCH)

Note: The cryptocurrencies shown above are just some of the virtual assets supported by the BMX exchange. For a full list of supported cryptocurrencies, you can click the link in this BitMart exchange review.

Deposit/Withdrawal/Trading Fees

The BitMart exchange offers its users decent trading and withdrawal fees. Specifically, BitMart uses a maker and taker method model to determine the trading fees. Basically, these fees such as trading fees start from 0.25% respectively and reduce as trading volume increases.

Meanwhile, BitMart charges no transaction fees for every fund deposit in the platform. However, the withdrawal of assets from the exchange will cost its user. In addition, the cost of withdrawal amounts to the standard blockchain network fee which depends on the market conditions.

Normal users of BitMart exchange

Seasoned users of BitMart exchange

Accepted Payment Methods

BitMart exchange offers a flexible way to buy various types of digital assets. For this reason, traders and investors in the platform can either use fiat or crypto in purchasing digital assets.

Furthermore, the exchange partners with Simplex, a Fintech company, and a processing provider to enable Visa and Mastercard purchases.

Aside from Visa and Mastercard, the exchange also joined hands with Mimos, Alipay, and UniPAY to name a few. Hence, traders and investors in the exchange can have more options in buying their desired cryptos.

However, the exchange follows the rules and restrictions set by different countries around the world. Therefore, the funding availability of the exchange may not always be available in all countries. For example, Eritrea, Iran, Iraq, Ivory Coast, Kyrgyzstan, Afghanistan, China, Congo, and Cuba to name some.

Achievements

The year 2021 is one of the greatest years of the BitMart network. In this part of the BitMart exchange review, we will tell you about the latest achievements of the BMX exchange. Firstly, the BitMart exchange partners with Solana (SOL). As a result, SOL now trades in the BitMart exchange with trading paid of SOL/USDT.

Secondly, the BMX exchange integrates MoonPay to advance its fiat to crypto transactions. In this way, all the users of the exchange can have a more flexible way of purchasing crypto inside the exchange. Truly, BitMart exchange made buying crypto inside its platform a very easy thing to do.

At the time of writing, the native token of the BitMart exchange, BMX, maintains its solid position. In short, despite the high volatility of the market, BMX keeps its market cap to almost $34 million. Also, the BMX token gathers a trading volume amounting to over $7.5 million.    

Pros and Cons

Pros

• Good mobile trading app
• Over 90 crypto pairs available for trading
• Enjoy up to 100 times leverage on the futures market
• Receive 25% discount on fees when using BMX token to pay
• User interface friendly

Cons

• Limited advanced order types (limit and market only)
• Liquidity issues

Final Score

Finally, the final score of the BitMart exchange review. As a result, this final score is based on the analysis and personal view of Coin Quora. Meanwhile, this rating does not serve as financial advice. In other words, traders and investors must do their own research before investing money in crypto exchanges.

• Services offered: 4/5
• Fees: 3/5
• User interface: 4/5
• Countries accepted: 5/5

Review Score: 4 / 5

FAQ

Disclaimer: This material must not be used as the basis for making any investment decisions. This serves only as informative material about the crypto exchange. Trading digital assets involve risk and can result in the loss of investment capital. Hence, always make sure to do in-depth research prior to engaging or investing in any cryptocurrencies.

To learn about the latest news and updates about Bitmart, follow CoinQuora’s Exchanges News section.

Source: https://coinquora.com/bitmart-exchange-review-details-trading-fees-features/