Review on BitMarket by Joseph Bello
Low liquidity was the reason the exchange shutdown
The exchange hasn't been appealing to me because I wasn't comfortable with takers paying twice the makers fee of 0.18% which amounts to a 0.36% fee on the liquidity takers,the withdrawal fee of 0.001BTC wasn't even encouraging . Despite the exchange's high and unfavorable fee liquidity is another hitch on the exchange that makes traders pessimistic about Bitmarket because it wasn't easy to get trade participants on Bitmarket exchange . The exchange had an extremely low number of altcoins for traders to buy and sell . The issue of low liquidity was so alarming that the exchange had to cease all operation by making an official announcement about their plans to shutdown due to low liquidity which has contributed to the exchange's low trading volume. Presently the exchange has been shutdown and I doubt if their website is still accessible.
Pros
- I have no positive comment
Cons
- Out of existence as a virtual currency exchange
- No trade volume
- Suffered from low liquidity which lead to the exchange's closure
- High trade fees
- High withdrawal fees
