Review on BitMart by Abraham Jeremiah
Good earning possibilities but high trade fees
In a way or another, Bitmart exchange offers a lot of ways to earn and this is directed towards Holders of specific cryptocurrencies. The exchange method of a flexible staking is one not seen by any other crypto trading exchange out there today. It's method of a flexible staking allows for the holding of the supported coins and Interests are calculated and paid out. I really enjoyed the user friendly interface seen on both the exchange mobile app and it's web trading platform. It's Trading charts is also on another level, giving me clear cut views into what am about to trade by tracking previous data's using its advanced trading tools
I noticed that the exchange supports two different major methods of warning passively via it's lending and staking platform. I could just simply hold my coins in the exchange wallet and receive daily interest, while it's lending platform which is not complicated to use allows for me to borrow out my assets and it's interest is like on of the best out there. Amongst all, the trade fees of the exchange wasn't a suitable one when in comparison with other major crypto exchanges. A 0.25% trade fee charged by this exchange isn't compatible for use making this exchange unsuitable for my trading needs. Even though the exchange has a native token, the BMX tokens for cutting fees, it is just by 25% and looking at the value the trading fee is cut by, it still doesn't fit. I really hope more will be done in correcting the fees charged by Bitmart.
Pros
- Bitmart exchange supports a user friendly interface for both it's mobile application and website, making it easy to use
- The exchange also supports a kind of flexible staking in which users are required to hold their cryptocurrencies on the exchange and receive calculated PoS rewards on them
- There is a lending section on the exchange open to users to borrow out their assets and earn a good return according to calculated yearly returns
- It's native BMX tokens helps to slash trade fees by 25%. The usefulness of the token even exceed trade fees to governance listings proposals
Cons
- The trade fees for this exchange is high while being compared with other exchanges with the fees set at 0.25% pee trade
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Comments (3)
January 07, 2021
In the actual sense, they charge 0.25% and even using its BMX tokens, the trade fee being cut is almost completely Insignificant which is why I hardly make use of the exchange for my trading for profits need
January 05, 2021
The Bitmart exchange platform is an exchange platform that offers real time opportunities for traders to earn on their platform. I essentially love the lending means of earning as it provides more interest. The only thing I despise is their trading fee. 0.2% is a bit high compared to many other exchange platforms that charges just 0.1%
January 05, 2021
The Bitmart exchange platform is an exchange platform that offers real time opportunities for traders to earn on their platform. I essentially love the lending means of earning as it provides more interest. The only thing I despise is their trading fee. 0.2% is a bit high compared to many other exchange platforms that charges just 0.1%
