BitMax Logo
Exchange Review


Exchange Fees

Bitcoin Logo 0.0005 Withdrawal Fee • 0.10% Taker Fee • 0.10% Maker Fee

Deposit Methods

No Wire transfer No Credit Card Yes Cryptocurrency

BitMax Review

A crypto exchnage guide must provide reviews of all of the crypto exchanges out there, so that you can find the right one for you. This review of BitMax consists of four parts: general info, fees, deposit methods and security.

General Info

BitMax is – like so many other exchanges – from Singapore. It markets itself as architected by Wall Street quant trading veterans. It is allegedly the leading next-generation digital asset exchange with the industry’s first-ever transaction mining and reverse mining mechanism. The platform provides you with multiple trading products across a broad range of digital assets, including mining, reverse-mining for maker trades, margin trading, etc.

BitMax also launched an ICO in the second half of 2018. In the ICO, the presented time line detailed that the launch of the “exchange public chain” is to occur in April 2019. Earlier than that, in February 2019, incubator investments and ecosystem buildouts are the main happenings according to the timeline.

The team behind the exchange is spear-headed by three individuals: Han Liu, Ariel Ling and George Cao (George being founder and CEO). These individuals all have experience from asset management, banking and finance.

BitMax supports trading in a decent number of cryptocurrencies. You can find all of the biggest ones here.

BitMax Leveraged Trading

Leveraged Trading

BitMax also offers leveraged trading to its users. This means that you can borrow money from the exchange in order to buy crypto. The interest rate depends on the trade but can apparently be as low as 3.65% per year (0.01% daily). As you can imagine, leveraged trading can lead to great profit but also to great losses.

For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD if you simply held Bitcoin. Now, as you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, there is clearly potential for huge upside but also for huge downside…

Volatility Products

In an email sent to its users on 14 June 2019, BitMax announced the launch of a new product: The Turtle Card and The Bunny Card. These cards are – in spite of funny names – serious products, that allow you to benefit from betting on the volatility of a certain cryptocurrency during a certain time period. The time period could be anything from 10 minutes up to 1 day. If you believe that the relevant cryptocurrency will show volatility exceeding 1% during the time period, you purchase the Bunny Card. If you believe the movements will be slow and show volatility less than 1%, then the Turtle Card is the right bet for you. You can’t buy a card more than 250 times though.

BitMax Volatility Products


As many other exchanges, BitMax does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.

BitMax Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at BitMax:

BitMax Trading View

BitMax Fees

BitMax Trading fees

Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.

This exchange charges a flat fee starting at 0.10% per trade. This is an OK fee. Industry average has for a long time been 0.25% but we now see many exchanges moving towards lower trading fees (0.05%-0.15%). If you trade a lot, you will receive a lower trading fee. The discounts your trading entitles you to are set out below:

BitMAX Tiered Fee Structure

BitMax Withdrawal fees

Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. For BTC-withdrawals, this exchange charges 0.0005 BTC. This is also slightly below the industry average. Global industry average BTC-withdrawal fee is approx. 0.0008 BTC.

All in all, with respect to the fees, BitMax has a truly competitive offering.

Deposit Methods

BitMax 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!

BitMax Security

We run all exchange-websites in Mozilla’s Observatory-test ( The score in such test is one of many indicators of the exchange’s security. BitMax received a score of D+ in this test. D+ is not great, but roughly in line with industry average. And, as mentioned above, there are naturally a number of other aspects to consider when determining an exchange’s overall security.


Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):

  1. BaseFEX
  2. Indodax
  3. Liquid
  4. Bybit
  5. Coincheck
  6. PrimeXBT
  7. Bilaxy
  8. Binance
  9. CryptalDash
  10. Crex24