BitMart Crypto Exchange
U.S. Status
Supported Coins
Our Rating
Spot Trading Fee
BitMart is a global cryptocurrency exchange that allows users to buy, sell, and trade +1,400 digital currencies and tokens. Launched in 2017 and based in the Cayman Islands, the platform serves over 9 million users across 180+ countries.
One of BitMart’s standout features is its wide selection of cryptocurrencies. The exchange also supports fiat purchases through credit and debit cards, PayPal, and other third-party payment services.
BitMart offers a variety of trading options, including spot trading, futures trading with up to 100x leverage, and staking opportunities.
However, security concerns remain, as BitMart suffered a major hack in December 2021, resulting in a $196 million loss. Although the exchange reimbursed affected users, this event raised questions about its security measures.
Does BitMart support instant crypto swaps?
No, BitMart does not have an instant swap feature like some other exchanges. Users must manually trade between assets using the spot trading platform.
Can I stake any cryptocurrency on BitMart?
BitMart offers staking, but only for select cryptocurrencies. Users can check the BitMart Earn section to see which assets are available for staking rewards.
Is there a minimum deposit amount on BitMart?
BitMart does not have a minimum deposit amount for most cryptocurrencies, but some assets may require a minimum amount for transactions due to network requirements.
Does BitMart offer demo trading for beginners?
No, BitMart does not have a demo trading feature. However, beginners can start with low-risk trades using small amounts to get familiar with the platform.
Can I withdraw fiat currency from BitMart?
BitMart does not support direct fiat withdrawals. To cash out, users must first convert crypto to USDT or another stablecoin and withdraw it to another exchange or bank-friendly platform.
Pros | Cons |
|---|---|
Wide Selection of Cryptocurrencies | Past Security Breach |
Competitive Trading Fees | Limited Features For U.S. Users |
Multiple Trading Options | Higher Fees for Fiat Purchases |
Early Access to New Tokens & NFTs | No Proof of Reserves |
User-Friendly Interface |
Supported Cryptocurrencies & Assets
BitMart supports a vast range of digital assets, with +1,400 cryptocurrencies available for trading. This includes major cryptocurrencies, altcoins, stablecoins, and even NFTs.
The exchange is known for offering a diverse selection of both well-established and newly launched tokens, making it a popular choice for traders looking to explore different crypto markets.
BitMart supports stablecoins like USDT, USDC, and BUSD, allowing users to trade with minimal volatility.
The exchange also features its own native token, BitMart Token (BMX), which provides trading discounts and other benefits.
Additionally, BitMart has an NFT marketplace where users can buy, sell, and trade digital collectibles.
Is BitMart Exchange Available In The US?
Partially.
BitMart is available in the U.S., but with some restrictions. U.S.-based users can trade cryptocurrencies on the platform.
However, certain features like BitMart Earn (staking, savings, and lending products) are not available due to regulatory limitations.
Additionally, BitMart is not actively accepting new U.S. users, meaning that if you don’t already have an account, you may not be able to register.
For those who already have accounts, trading and withdrawals still work, but it's important to stay updated on any future regulatory changes.
If you are a U.S. user looking for full access to crypto staking, lending, or direct fiat withdrawals, you may need to explore other exchanges that are fully compliant with U.S. regulation
BitMart Legal Issues & Trustworthiness: What You Should Know
BitMart is a well-known global cryptocurrency exchange, but its security history and legal standing have raised concerns among users:
- 2021 Security Breach – BitMart was hacked in December 2021, losing $196 million in user funds. The exchange reimbursed affected users, but the incident raised concerns about its security.
- FTC Investigation – The U.S. Federal Trade Commission (FTC) investigated BitMart’s data security practices and its response to the hack, questioning its consumer protection policies.
- SEC Complaint (Elan Future Case) – In March 2023, Elan Future Inc. filed complaints with the SEC and Lithuanian authorities, alleging misappropriation of $400,000 in user assets.
- No Proof of Reserves – Unlike some competitors, BitMart does not publicly disclose proof of reserves, making it harder for users to verify its financial stability.
Despite concerns, BitMart remains a popular exchange, but users should exercise caution and consider security risks.
Main Features For Crypto Investors
Here are the key features that I found most appealing in BitMart:
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BitMart’s Interface: Desktop & Mobile Experience
BitMart offers a user-friendly trading experience for both beginners and advanced traders.
The platform has a clean and intuitive interface that allows users to easily navigate through different sections, including spot trading, futures trading, and staking.
For beginners, BitMart provides a simple Buy & Sell feature, allowing quick purchases of cryptocurrencies with credit cards, PayPal, and other methods.
Advanced traders can access professional charting tools, limit orders, and futures trading with up to 100x leverage.
The BitMart mobile app (iOS & Android) offers full functionality, allowing users to trade on the go.
The mobile experience is smooth, with a responsive design that mirrors the desktop version.
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How Secure Is BitMart? Exploring Safety Measures
BitMart uses encryption technology and two-factor authentication (2FA) to enhance account security.
Users can also enable withdrawal whitelisting, allowing crypto withdrawals only to pre-approved addresses.
To comply with global regulations, BitMart requires Know Your Customer (KYC) verification for deposits, withdrawals, and trading. Users must provide government-issued identification to unlock all features.
After the 2021 security breach, where $196 million was stolen, BitMart reimbursed affected users and strengthened security.
However, the exchange does not provide clear insurance policies or proof of reserves, unlike other exchanges.
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How to Fund & Withdraw From BitMart Account
BitMart supports multiple deposit and withdrawal options, including cryptocurrency deposits, credit/debit card purchases, PayPal, and third-party services like MoonPay and Banxa.
Users can deposit crypto without fees, but fiat deposits incur transaction fees depending on the payment provider.
For withdrawals, BitMart charges network fees that vary by asset.
Processing speeds depend on blockchain congestion, with most crypto withdrawals completing within minutes to a few hours. Fiat withdrawals are available but can take longer due to third-party processing times.
While BitMart offers convenient funding options, bank transfers are not directly supported and must go through third-party services.
Additionally, some U.S. users face restrictions on fiat withdrawals, making it important to check local regulations before trading.
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Exploring NFTs & Web3 on BitMart
BitMart is slowly adopting Web3 features, but it is not yet a leading platform for NFTs or decentralized finance (DeFi)
BitMart offering an NFT marketplace where users can buy, sell, and trade digital collectibles. The platform supports ERC-721 tokens, the standard used for NFTs on Ethereum.
Additionally, BitMart provides Initial NFT Offerings (INO), allowing users to access new NFT projects early.
Through its Launchpad, the exchange also lists new crypto tokens and Web3 projects, giving users access to emerging blockchain technologies.
BitMart integrates Web3 applications and DeFi protocols, allowing users to interact with blockchain-based services.
However, direct compatibility with DeFi wallets is limited, and users may need to transfer assets to external wallets for full Web3 functionality.
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Is BitMart Expensive? A Look at Fees
BitMart uses a tiered trading fee structure, meaning fees decrease as trading volume increases or when users hold BMX tokens. Below is a breakdown of the key fees on the platform:
Trading Fees:
Spot Trading Fees | Future Trading Fees |
|---|---|
0.10%
For both maker and taker orders. The more you trade, the lower the fees – can decrease to as low as 0.075%. Users who pay fees using Bitmart token (BMX) receive a 25% discount | 0.02% – 0.06%
0.06% for taker trades and 0.02% for maker trades. Users who pay fees using Bitmart token (BMX) receive a 25% discount |
Deposit & Withdrawal Fees
- Crypto Deposits: Free
- Crypto Withdrawals: Varies by coin and network conditions
Fiat Transaction Fees
- Buying Crypto (Credit/Debit Cards, PayPal, etc.): Up to 5% fee (charged by third-party providers)
- Fiat Withdrawals: Not supported (users must transfer crypto to another exchange to withdraw fiat)
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BitMart Customer Support: What to Expect
BitMart offers customer support through a help center, live chat, and support tickets.
However, there is no phone support, which can be frustrating for users with urgent issues. Response times vary, with some users reporting delays in ticket resolutions.
On Trustpilot, Bitmart's score is 3.3, which is not so high but higher compared to other exchanges.
BitMart has received mixed customer reviews. While it has a strong trading platform and features, common complaints include slow withdrawal processing, restricted accounts, and poor customer service responses.
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BitMart’s Copy Trading: Let the Pros Trade for You
BitMart offers Copy Trading, a feature that allows users to follow and automatically copy the trades of professional traders.
This is great for beginners who want to learn from experienced traders without actively managing their portfolios.
Users can browse a list of verified Master Traders, check their trading performance, and choose who to follow.
Once selected, every trade made by the Master Trader is automatically replicated in the follower’s account.
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BitMart’s Staking & Savings Options
BitMart Earn is a feature that lets users earn passive income on their crypto holdings through staking, savings, and dual-investment products.
Instead of letting crypto sit idle, users can lock funds in different plans to earn rewards.
Key earning options include:
- Flexible Savings – Earn daily interest with no lock-up period.
- Fixed Savings – Lock funds for a set period to get higher returns.
- Staking – Earn rewards by helping secure blockchain networks.
- Dual-Investment – High-risk, high-reward options that allow users to earn returns based on price movements.
APYs vary, with some assets offering up to 100% APY.
While BitMart Earn provides a good way to grow assets, U.S. users cannot access these features due to regulations.
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BitMart Launchpad: NFT & Crypto Pre-Sales
BitMart’s Launchpad offers users early access to new cryptocurrency projects and NFTs before they hit the mainstream market.
Through Initial Exchange Offerings (IEOs) and Initial NFT Offerings (INOs), investors can buy tokens at discounted prices before public trading begins.
Users who hold BitMart Token (BMX) can gain additional benefits, such as priority access and discounts.
The Launchpad also features a voting system, where users can vote for new tokens to be listed, with successful projects often offering airdrops to participants.
The Shooting Star program within the Launchpad guarantees price protection for new tokens for 72 hours after listing, reducing investor risk.
However, not all projects are guaranteed success, so investors should research projects before participating.
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BitMart Futures & Margin Trading
BitMart offers futures and margin trading for users looking to trade with leverage, allowing them to open larger positions than their actual holdings.
Margin trading supports up to 5x leverage, meaning traders can borrow funds to increase their buying power.
However, borrowed funds come with an hourly interest rate that varies depending on the asset.
For futures trading, BitMart offers up to 100x leverage, allowing users to speculate on price movements in both long and short positions.
Futures traders must manage liquidation risks carefully, as high leverage can lead to significant losses if prices move against their position.
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OTC Trading on BitMart: Good Choice for Large Investors
BitMart offers Over-the-Counter (OTC) trading, a feature designed for users who want to trade large amounts of cryptocurrency without impacting market prices.
Instead of placing orders on the public exchange, OTC trading matches buyers and sellers privately, ensuring better pricing, faster execution, and reduced market slippage.
Users can access BitMart’s OTC trading desk by contacting the platform and meeting the minimum trade amount requirements.
When BitMart May Be a Good Choice? When Not?
As with any financial platform, BitMart isn’t the perfect fit for everyone.
Here’s a look at who might find BitMart a better choice and who might want to consider other options
When BitMart May Be a Good Choice | Who Should Look Elsewhere |
|---|---|
Altcoin Traders & Speculators | U.S. Investors Wanting Full Access |
Futures & Margin Traders | Security-Focused Traders |
Early-Stage Investors & NFT Enthusiast | Traders Who Need Direct Fiat Withdrawals |
Copy Traders & Beginners Looking for Guidance | Investors Who Prefer Regulated Exchanges |
Passive Income Seekers (Non-U.S. Users) | Users Who Rely on Customer Support |
4 Simple Steps to Set Up the BitMart Account
Let's see the main steps when setting up an account with BitMart:
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1. Registering for a BitMart Account
To get started with BitMart, go to the official website or download the BitMart mobile app.
Click “Sign Up”, and choose to register using your email or phone number. You’ll need to create a strong password and agree to the platform’s terms.
Once you submit your details, you’ll receive a verification code via email or SMS to confirm your account.
Our tips:
🔹 Choose a strong password with a mix of letters, numbers, and symbols.
🔹 Verify your email or phone number immediately to avoid login issues.
🔹 Avoid fake websites—always double-check the URL to prevent phishing scams.
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2. Complete KYC Verification
Before you can trade or withdraw funds, you must complete Know Your Customer (KYC) verification.
Log in to your account, navigate to “Verification”, and choose Basic (Level 1) or Advanced (Level 2) verification. Basic verification requires personal details like your name, country, and date of birth.
Advanced verification requires government-issued ID (passport, driver’s license, or national ID) and facial verification.
Our tips:
🔹 Use clear, high-quality photos of your ID to avoid rejection.
🔹 Approval times can vary, so complete this step early if you need quick access.
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3. Depositing Funds into Your Account
Once your account is verified, you can deposit funds. BitMart allows crypto deposits and fiat purchases via credit/debit cards, PayPal, and third-party providers (MoonPay, Banxa, etc.).
To deposit crypto, go to “Assets” → “Deposit”, choose your coin, and copy your unique wallet address. If you prefer fiat, select “Buy & Sell”, enter the amount, and complete payment.
Fiat transactions depend on third-party providers, so processing times vary.
Our tips:
🔹 Check the deposit address carefully to avoid losing funds.
🔹 Some payment methods have high fees (up to 5%), so compare options.
🔹Crypto deposits require blockchain confirmations, which can take minutes to hours.
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4. Start Trading on BitMart
With funds in your account, you’re ready to trade. Navigate to the “Trade” section for spot trading or “Futures” if you want leveraged trades.
Beginners can use the “Buy & Sell” feature to purchase crypto instantly.
For advanced users, BitMart provides charting tools, limit orders, and margin trading options.
Our tips:
🔹 Start with small trades to get used to the platform.
🔹 Withdraw profits regularly to keep your funds secure.
🔹 Enable Two-Factor Authentication (2FA) for better security.
FAQ
BitMart is a centralized cryptocurrency exchange (CEX), meaning it operates with a central authority managing trades, user accounts, and security. Unlike decentralized exchanges (DEXs), BitMart requires users to complete identity verification (KYC) for full access.
No, BitMart requires identity verification (KYC) for trading and withdrawals. Without KYC, users are limited in deposits and cannot withdraw funds.
If you forget your password, click “Forgot Password?” on the login page. You’ll receive a password reset link via email. Make sure you use a strong new password to secure your account.
The BitMart Token (BMX) is used for fee discounts, early access to token sales, and Launchpad participation. Holding BMX can reduce trading fees by up to 25%.
Crypto withdrawals are usually processed within minutes to a few hours, depending on network congestion. However, some assets may take longer due to security reviews or blockchain delays.
Review Crypto Exchanges
How We Rated Crypto Exchanges: Review Methodology
At The Smart Investor, we evaluated crypto exchanges based on their overall value, security, and trading experience compared to other leading alternatives. Our hands-on testing focused on key factors that matter most to traders and investors, including fees, security, liquidity, and available assets. Each exchange was rated based on the following criteria:
- Fees & Costs (15%): We prioritized exchanges with low trading fees, competitive spreads, and transparent pricing. Some platforms had hidden withdrawal fees or costly trading structures.
- User Experience & Interface (15%): A fast, intuitive, and well-designed platform scored highest. Some exchanges felt clunky or slow, impacting trade execution and overall experience.
- Security & Regulation (20%): We favored exchanges with strong encryption, two-factor authentication (2FA), cold storage, and regulatory compliance. Some lacked proper security, making them high-risk.
- Trading Tools & Features (30%): The best exchanges offered advanced charting, real-time market data, order types (limit, stop-loss), and automation tools. Some lacked depth, limiting professional traders.
- Supported Cryptocurrencies (10%): We rated exchanges higher if they supported a broad range of cryptocurrencies, including major coins, altcoins, and stablecoins. Some had limited selections, restricting options.
- Liquidity & Execution Speed (5%): Exchanges with high liquidity, deep order books, and fast execution times scored highest. Lower-rated platforms had frequent slippage or delays.
- Additional Features (5%): We favored exchanges with staking, lending, fiat on-ramps, NFT marketplaces, and DeFi integration. Some lacked these extras, making them less versatile.
