Description of BitMart
What Is BitMart?
BitMart is a centralized exchange that provides crypto asset trading and investment services to over 9 million users around the globe. The trading platform offers numerous features for its clients, including staking, lending, savings products, derivative contracts, and expanded spot trading options. For advanced crypto enthusiasts, BitMart provides futures trading and margin trading that allow them to use leverage.
Users also have access to major cryptocurrencies, a user-friendly and straightforward interface, a comprehensive knowledge base, a secure wallet, a well-designed mobile app, and an NFT marketplace.
The BitMart network is committed to security, stability, and scalability, which is why it adopted an advanced multi-layer and multi-cluster system architecture. A year after its founding, in 2018, the exchange launched its investment token BMX, built on an ERC-20 standard.
Who Are the BitMart Founders?
Sheldon Xia is the Founder and CEO of the company. He studied at the Stevens Institute of Technology, majoring in Computer Science. Xia specializes in the Financial Software industry. Before BitMart, he founded projects The SVIEF and Women4Blockchain.
When Did BitMart Launch?
The project came into existence in 2017 and became available to the public in March 2018.
Where Is BitMart Located?
According to Crunchbase, BitMart is headquartered in the Cayman Islands with offices in China, South Korea and the United States. The exchange is officially registered as a Money Services Business (MSB) in the U.S.
BitMart Restricted Countries
The global cryptocurrency exchange provides real-time trading services in over 180 countries with no KYC. Moreover, it can be accessed by U.S. citizens (except for such states as Connecticut, Georgia, Hawaii, New Mexico, New York, Washington).
The list of banned countries includes Afghanistan, China, Congo, the Democratic People's Republic of Korea (DPRK), Eritrea, Iran, Iraq, Ivory Coast, Japan, Kyrgyzstan, Lebanon, Libya, Sudan and South Sudan.
What Coins Are Supported on BitMart?
The platform features more than 1000 crypto assets with 700+ trading pairs, among popular coins: BTC, ETH, AVAX, BNB, DOGE, LTC, SAND, SHIB, SOL and more.
Users can buy cryptos with a credit/debit card, bank/wire transfer, or Apple Pay.
How Much Are BitMart Fees?
BitMart has a tiered fee structure that applies a Maker-Taker model. Fees start at 0.25% for price Makers and Takers. Trading fees are based on the trading volume over 30 days (in BTC) and BMX balance. Fees for futures trading are much lower and competitive, it has Maker fees of 0.04% and Taker fees of 0.06%. The platform doesn't charge deposit fees, as for withdrawal fees, commissions vary from coin to coin. Refer to the Fee Structure: https://www.bitmart.com/fee/en for more details.
Is It Possible To Use Leverage or Margin Trading on BitMart?
The platform offers margin trading. In the futures market, traders can exchange assets with a margin multiplier of 5, 10, 20, 50, 100. BitMart's Futures Trading function officially launched in 2020.