Review on BitMart by Temitope Babatunde
Advantages of Using Bitmart Exchange
Bitmart exchange was launched in 2017 by a New Jersey city based crypto enthusiasts Sheldon Xia. The exchange has its headquarter in Cayman Islands and with branches in various countries like China, South Korea, and USA. Bitmart is worldwide with except of some countries where it can not operate.
There are various forms of trading available on the platform like, spot trading, margin trading, perpetual trading, futures trading etc. Users can deposit fund using cryptocurrencies or deposit using a third party called Simplex when using cards.
Except when depositing with card that required charging of some fee by simplex, depositing cryptocurrencies directly into the exchange required no fee. When trading there are fees associated with this which is 0.15 percent for makers and 0.2 percent for takers. Withdrawing also carry some fees, but this depends on the type of coins one is withdrawing.
Bitmart has a native token named BMX which has various usage, for example holding it on the exchange platform will make the holder qualify for reduced transaction fee, entitled for dividend through Bitmart Mission X, can participate in voting during listing of new projects etc.
The exchange has a lending project as well as staking, where you can stake some coins for rewards. The exchange overview is user friendly and there is mobile version of its application.
The exchange security level is good and you may be required to do some KYC so as to increase your level of withdrawing on the platform. Another interesting aspect of the exchange is that it has good support services for its users.
In conclusion Bitmart is one of trading platform where you can trade with rest of mind as it has never being hacked.
Pros
- Security for users fund by keeping 99 percent of it in a cold wallet
- E mail code and SMS code required before withdrawal can be approved for security purpose.
- Users can buy crypto with cards through a third party called Simplex this made it am entry point for newbie who will be buying crypto for the first time.
- It has a native token with a wider range of usage
- Various forms of trading available.
- Website in multiple languages.
Cons
- No crypto to fiat trading
- Not all Americans citizens can use it.
New products
Comments (2)
August 13, 2020
Bitmart exchange platform targeted traders all over the world. The platform put many security features in place that make it difficult for hackers to hack. The lending project make the exchange more unique among other exchange.
June 07, 2020
Interesting review with up-to-date information. BitMart will ultimately take cryptocurrency trading to new heights by providing future contract trading, over-the-counter trading, and whole-network trading.
