24H Volume

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BitMart

4 from 1 vote
Cayman Islands

Fees

Taker fee

0.05%

Maker fee

0.05%

Withdrawal fee

0.0005

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


BitMart Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of BitMart consists of four parts: general information, fees, deposit methods and security.

General Information

BitMart is a cryptocurrency exchange registered in the Cayman Islands. It became available to the public in March 2018.

You might wonder if this is the only cryptocurrency exchange in this tax paradise country. The answer is “no, there are more”. One of the others that is very popular is Cobinhood.

BitMart has an impressive liquidity. At the time of writing this review (29 September 2018), BitMart’s 24 hour trading volume was USD 56 million. Such figure places this exchange on place no. 29 on the list of exchanges with the highest 24 hours trading volumes.

Many exchanges does not allow investors from USA as customers. As far as we can tell, BitMart is not one of those exchanges. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

BitMart Fees

BitMart Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. BitMart doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.05%.

0.05% is a very competitive trading fee. The global industry average is actually around five (5) times higher than that!

BitMart Withdrawal fees

BitMart charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is also below the industry average.

To conclude on the fees, BitMart’s have a very competitive offering with respect to both trading fees and withdrawal fees.

Deposit Methods

BitMart does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!

Security

BitMart’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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