BitMart 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
- $1
- Proprietary platform
- All popular cryptocurrencies, no fiat money, convenient investment in cryptocurrency loans, a two-level referral program, all deposit/withdrawal options
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
- $1
- Proprietary platform
- All popular cryptocurrencies, no fiat money, convenient investment in cryptocurrency loans, a two-level referral program, all deposit/withdrawal options
Our Evaluation of BitMart
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
BitMart is a moderate-risk cryptocurrency exchange with the TU Overall Score of 6.32 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BitMart clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
BitMart provides a full range of opportunities for comfortable trading. They have a convenient terminal, mobile applications, and large leverages. They also provide a wide selection of cryptocurrencies and low commissions. The simplified version of the terminal lowers the entry threshold for novice traders, and solutions for passive earnings attract investors. The platform is known for its high level of information security.
Brief Look at BitMart
The BitMart exchange is an international cryptocurrency trading platform. It has Bitcoin, Ethereum, Litecoin, Ripple, Dash, EOS, HEX, as well as dozens of other cryptocurrencies and tokens, and the pool of instruments is constantly being expanded. There are no fiat currencies on the exchange. They offer two interfaces: simplified and advanced for spot trading. The first will be the most interesting for beginners; the second one is for experienced users. There is futures trading with leverage up to x100. Users can invest cryptocurrency in a loan service, passively earning up to 60% per annum. The platform has a standard referral program. In addition to the TradingView web terminal, there is a mobile application for comfortable crypto trading. Commissions are below the market average, and they can be further reduced by keeping the platform’s proprietary token called the BMX.
- a large selection of cryptocurrencies and tokens for trading;
- in addition to spot trading, there is futures trading;
- futures trading is possible with leverage up to x100;
- passive income through investing in loans;
- several variants of the trading terminal;
- easy-to-use smartphone application;
- commission of 0.25% at the first trading level;
- 2FA authentication and extended API key authorizations;
- all popular options for deposit and withdrawal of funds, including MC and Visa cards.
- no demo accounts;
- no fiat currencies;
- technical support doesn’t have a call center.
TU Expert Advice
Financial expert and analyst at Traders Union
The BitMart exchange was founded in 2018 in the Cayman Islands. It is officially licensed. It offers a standard TradingView terminal for trading cryptocurrencies and tokens. There is also a mobile crypto trading application. All versions of the terminal are optimized, and they work stably on most systems. We didn’t find any failures or errors during testing.
The exchange is characterized by high trading volumes, as well as a high level of protection of user data and funds. Cryptocurrencies are stored in cold wallets. In addition to standard registration, there is AML verification (not required for trading). Among the advantages of the platform worth noting is a simplified terminal for beginners, as well as the opportunity to passively earn on deposits using the lending service.
Their commissions are below the market average and they can be further reduced due to rebates from Traders Union and keeping the platform’s own coin on your account. There is a profitable referral program with payments of up to 30% of referral commissions. In general, the platform is considered to be functional and convenient, and it provides all the opportunities for active and passive earnings.
- You're interested in crypto staking and savings opportunities, as BitMart enables users to earn interest through staking certain cryptocurrencies, providing a passive income stream. Additionally, their savings program offers interest on other digital assets, enhancing your ability to grow your holdings over time.
- You're involved in the non-fungible token (NFT) space. BitMart NFT provides a platform for buying and trading unique digital collectibles, catering to users interested in exploring and investing in the burgeoning NFT market.
- You require access to demo accounts for practice trading. BitMart does not offer demo accounts, which may be a drawback for users who prefer to test trading strategies or familiarize themselves with the platform's features before committing real funds.
BitMart Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | proprietary platform based on TradingView |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. |
| 💵 Replenishment / Withdrawal: | Bank cards, electronic accounts, and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | up to 1:100 (futures) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | All popular cryptocurrencies, no fiat money, convenient investment in cryptocurrency loans, a two-level referral program, all deposit/withdrawal options |
| 🎁 Contests and bonuses: | N/A |
BitMart does not set minimum deposit limits. You decide how much money to deposit to start trading. Registration is free, in the future you do not need to pay for the maintenance of your multicurrency account. Leverage is not provided for spot trading, but for futures trading it is x100. Technical support is provided by email only. Specialists reply within three working days (usually within 24 hours). The table below shows the main trading conditions.
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Commissions & Fees
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Your trading volume in BTC for the last 30 days;
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the amount of BMX (platform token) on your account.
There are eight trading levels that are calculated every month. The commission of 0.25% corresponds to a zero level. At the eighth level, the commission is 0.075% for the taker/maker.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | up to 0.25% per order | Yes |
The standard tier system has a 25% discount on commission fees, this discount can be increased to 35% if you move through the professional tier system. To become a pro you need to have increased trading volumes. At the maximum professional level, trading commissions are 0.015% for the maker and 0.020% for the taker.
There are no deposit fees on the platform, but there are fees for withdrawing funds. Withdrawal fees, like the minimum withdrawal amount, depend on the asset. For example, for BTC: you cannot withdraw less than 0.005 BTC, and the commission is 0.0005 BTC.
| Broker | Average commission | Level |
|---|---|---|
|
$0.25 | |
|
$20 | |
|
$0.1 |
Investment Programs, Available Markets, and Products of the Crypto Exchange
The crypto exchange offers its proprietory investment service, which is BitMart Lending. You may earn by providing your own cryptocurrency funds to the platform for further use in partner blockchain projects, as well as to provide leverage to traders who trade futures.
To become an investor, you need to go to the “Lending” section, select one of the current programs and make a deposit. Programs differ in the following parameters:
asset;
minimum deposit;
investment term;
interest rate.
You can invest for 15, 30, 90, 180, and 365 days. The deposit will be frozen for this period. You will receive the deposit and all interest earned on the day the program ends. The interest rate may vary, on average it is up to 60% per annum for programs for 30 days. In the personal account, you can see the potential earnings for an active program even before placing a deposit.
The BitMart exchange takes an unorthodox approach to launch investment programs. Each user in the “Lending” section can choose the currency he is ready to provide a loan. If the investment of the same currency is of interest to many potential investors and it is not yet represented in the line of offers, the platform is purposefully looking for a blockchain project for an asset demanded by investors.
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.
BitMart’s affiliate program
The BitMart exchange offers a two-level referral program. The program is standard - a referral link is available to you in the “Referrals” section of your personal account. You can post it on all platforms without restrictions.
Any user who follows the link, registers with the exchange, and starts trading, becomes your first-level referral (partner). Your second-level referral will be every user who registers with the platform using the referral link of your first-level referral. As a result, the following payment pool is formed and you get:
30% of the trading commissions of the first level referral;
10% of the trading commissions of a second-level referral.
If your referrals trade futures, your income is 20% of the trading commissions of a first-level referral; in this case, you will not receive payments for a second-level referral. If you are an active blogger, you can apply for a special status individually. This status will provide higher profits from the referral program by increasing the percentage.
Payments are permanently made to a special account. Full statistics on the referral program are available in the “Referrals” section of the personal account on the website or in the mobile application.
User Satisfaction