Bit.com Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 0.00001 BCH
- Web platform
- Mobile Apps
- The percentage of commission per transaction decreases with an increase in trade turnover
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- 0.00001 BCH
- Web platform
- Mobile Apps
- The percentage of commission per transaction decreases with an increase in trade turnover
Our Evaluation of Bit.com
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bit.com is a high-risk cryptocurrency exchange with the TU Overall Score of 2.67 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bit.com clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Bit.com ranks 165 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Bit.com is a multifunctional cryptocurrency exchange focused on traders with different strategies, levels of knowledge, and trading experience.
Brief Look at Bit.com
The Bit.com cryptocurrency exchange is a subsidiary of Matrixport, a well-known digital asset bank founded in 2019. Bit.com offers spot trading of cryptocurrencies with leverage, and also allows making transactions with futures contracts and options. The exchange works with retail and professional traders, miners, prime brokers, and hedge funds. Institutional investors have access to block trading through Paradigm and ACCX, margin trading of portfolios, and the market-maker protection mechanism.
- low trading commissions;
- the ability to trade various instruments from a single account;
- a wide range of assets, including more than 100 pairs of cryptocurrencies, USD-M, USDT-M, and COIN-M futures, plus USD-M and COIN-M options;
- loyal requirements for the minimum deposit amount;
- no commission for depositing cryptocurrencies;
- availability of internal insurance fund;
- support for margin trading and spot transactions with leverage.
- slow speed of the web platform resulting in delays in displaying quotes;
- you cannot deposit funds using bank cards and electronic payment systems;
- it charges commissions for depositing and withdrawing fiat currencies.
TU Expert Advice
Financial expert and analyst at Traders Union
Bit.com is a cryptocurrency exchange that offers a single account for spot trading of digital assets, NFT, as well as futures, options, and perpetual contracts. Its web platform is based on TradingView, and mobile apps for Android and iOS devices are also available. The interface of trading terminals and support is available in 4 languages, including English.
Bit.com has an insurance fund in the amount of 200 BTC. The exchange also cooperates with the Cactus Custody, a qualified custodian of cryptocurrencies registered in Hong Kong. To protect your account, you can use up to five security codes, including Google Analytics. In addition, you can create a white list of crypto addresses for withdrawal and set a withdrawal password.
Bit.com accrues a deposit bonus. Its amount varies from $5 to $150 depending on the amount deposited by the client. For example, to receive $5, you need to deposit at least $100; $30 for up to $3,000; and $150 for up to $60,000. There are also coupons available that can be used to refund your trading commission. You can get them for completing certain tasks specified in your user account.
- You are an experienced trader, as Bit. com caters to seasoned traders by offering advanced features such as margin trading, options trading, and perpetual contracts. These tools provide experienced traders with greater control over their trades and the ability to leverage their positions for potentially higher returns.
- You seek innovative products, as Bit. com is known for introducing new and innovative trading products to the market. For example, they offer options on various altcoins and tools like auto-rebalancing, which can help traders optimize their portfolios and explore new trading strategies.
- You value high liquidity, as Bit. com boasts significant trading volume, meaning there is a high level of activity on the platform. This can lead to smoother order execution and better pricing for traders, as there are more buyers and sellers available in the market.
- You require fiat currency deposits. Bit.com primarily supports crypto-to-crypto trading, meaning you can only trade cryptocurrencies against each other. If you need to deposit fiat currency (like USD or EUR) to trade, Bit.com may not be suitable for your needs.
Bit.com Summary
| 💻 Trading platform: | Web platform, mobile apps |
|---|---|
| 📊 Accounts: | Unified account |
| 💰 Account currency: | Cryptocurrencies, fiats |
| 💵 Replenishment / Withdrawal: | Cryptocurrencies, bank transfer |
| 🚀 Minimum deposit: | 0.00001 BCH, 0.0005 ETH, 0.01 ETC, and 0.001 LTC |
| ⚖️ Leverage: | Spot is 1:7.69 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.001 BCH, 0.01 DASH, 0.0001 ETH, and 0.001 LTC |
| 💱 Commission: | For makers: -0.01% to 0.08%For takers: -0.035% to 0.1% |
| 🔧 Instruments: | Cryptocurrencies, futures, options, NFT |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit, market |
| ⭐ Trading features: | The percentage of commission per transaction decreases with an increase in trade turnover |
| 🎁 Contests and bonuses: | Coupons for the refund of the trading commission, promo codes, deposit bonuses |
Direct deposits and withdrawals are allowed only in cryptocurrencies. However, the client can transfer fiat funds (e.g., USD) from their bank account to the account of the partner bank, which converts them into digital currency.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Unified account | For a spot transaction of $10,000: $3.5 for makers; $7 for takers; |
Yes |
Analysts from the Traders Union compared commissions at Bit.com with trading fees of other popular crypto exchanges. The results of the study are presented in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$5.3 | |
|
$6 | |
|
$20 |
Investment Options
On Bit.com you can not only trade cryptocurrency assets but also receive investment income. To receive passive income on the exchange, you need to implement a rebalancing strategy. There are also affiliate programs with rewards for attracting new users.
Rebalancing market-making (RMM) is an innovative passive income tool
RMM is a function that allows you to automatically place limit orders and rebalance your cryptocurrency portfolio to a set fixed ratio. Traders receive an additional APY reward after rebalancing. It is calculated as a percentage for each pair. You can invest in more than 20 pairs.
APY values for popular cryptocurrencies:
BTC/USD — 5.85%;
ETH/USDT — 6.53%;
USDT/USD — 8.19%;
ETH/USD — 66.61%;
BCH/USD — 95.73%.
The rebalancing strategy has many advantages. Its use helps to reduce the volatility of the portfolio and earn income on price fluctuations because a trader buys an asset at a low price, and the sale is automatically carried out at a higher price. However, RMM is not a payout-guaranteed investment and, under adverse market conditions, the crypto investor may incur losses.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Bit.com’s affiliate program
The affiliate program provides rewards for partners who invite new clients. The inviter receives up to 40% of the invitee’s trading commission, as well as up to 10% of the invitee’s income. An invitee who has registered on the exchange using the link of the inviter can receive a commission rebate. Its percentage is determined by the partner who invited the new client.
The Ambassador program is intended for those who want to become an official representatives of Bit.com. If the conditions of cooperation are fulfilled, the exchange pays a monthly salary to the ambassadors and also gives 40-80% of the commission of the invitees connected by the client/inviter.
Each active client of Bit.com can become a member of the referral program. The Ambassador program is intended for experienced traders who have more than 1,000 followers on social networks.
User Satisfaction