BitMart
⭐ Trust Score: 8/10
🏆 Arbi.TEAM 7/10
📋 Basic information
📊 Trading statistics
📖 About exchange
ℹ️ BitMart — a global centralized cryptocurrency exchange founded in 2017 and headquartered in the Cayman Islands. The exchange serves millions of users worldwide and offers a comprehensive platform for trading, investing, and earning passive income on digital assets. Despite a historical hack in 2021 that resulted in fund losses, later compensated to users, the platform maintains its position among the top-20 crypto exchanges by trading volume.
🪙 Trading Products and Tools
BitMart stands out with its vast selection of cryptocurrencies and diverse trading products, making it attractive to both beginners and experienced traders.
Spot Trading
Over 1,700 cryptocurrencies on more than 1,000 trading pairs
Futures Trading
Leverage up to 100x on perpetual contracts (USDT-M and Coin-M)
Passive Income
Staking, savings accounts, dual investment, copy trading, and more
NFT Marketplace: A full-fledged platform for buying and trading NFTs on Ethereum, Polygon, and BNB Chain blockchains.
P2P Trading: Direct purchase and sale of cryptocurrency between users with zero commission from the exchange.
Launchpad (BitMart Launchpad): Access to early sales and listings of new projects, including NFTs and tokens.
Copy Trading: The ability to copy trades of successful traders, which is especially useful for beginners.
Inscriptions Market: Support for trading BRC-20 and other inscription tokens.
🔐 Security and Support
BitMart's security is a nuanced topic. The platform uses modern protective measures but has a serious incident in its past and weak regulation.
Protection Measures
- Two-factor authentication (2FA) via Google Authenticator/SMS.
- Hybrid Storage: The majority of user assets are stored in offline cold wallets.
- Multi-Signature (MultiSig): Technology to enhance transaction security.
- Historical Hack: In December 2021, the platform lost approximately $200 million, but, according to the exchange, all affected assets were reimbursed.
Regulation
BitMart is not regulated by any Tier-1 government agencies, which is a significant drawback from a user rights protection perspective. The exchange is registered as a Money Services Business (MSB) in the USA, but this does not constitute full-fledged financial regulation.
Support
Available via online chat, ticket system, and help center. Many users note that support responds relatively promptly. Reviews also include complaints about the lack of a call center and slow responses during periods of high load.
💳 Deposits and Withdrawals
BitMart offers numerous deposit methods, including fiat channels, which is convenient for beginners.
Verification (KYC)
Required for full use of the platform (trading, withdrawals). Several verification levels are available.
Account Funding
• Crypto deposits (via various networks) — often without commission.
• Fiat: bank cards (Visa/Mastercard), bank transfer, Apple Pay, Google Pay, PayPal, and over 300 other methods through partners (Banxa, Simplex, etc.).
Withdrawals
Crypto withdrawal fees depend on the network and can be high for some assets (e.g., 0.001 BTC). Withdrawing USDT on the BSC (BEP-20) network can be done with low or zero commission. Fiat withdrawals are also available through partners.
👍 Pros and Cons
Based on an analysis of user reviews and official information, the platform's strengths and weaknesses can be highlighted.
Advantages
- ✅ Huge selection of cryptocurrencies (over 1700), including rare tokens.
- ✅ User-friendly interface and mobile app, suitable for beginners.
- ✅ Multiple fiat deposit methods (cards, PayPal, etc.).
- ✅ Broad opportunities for passive income (staking, savings).
- ✅ Competitive trading fees, especially on futures (0.02%/0.06%).
Disadvantages
- ❌ History of a hack in 2021.
- ❌ Lack of Tier-1 regulation.
- ❌ No fiat trading pairs or demo accounts.
- ❌ High withdrawal fees for some cryptocurrencies.
- ❌ User support lacks a phone center; quality can be inconsistent.
💡 Tips for Beginners
Start with Verification (KYC)
Passing identity verification is necessary to remove withdrawal limits and access all features, including the NFT Marketplace.
Don't Neglect 2FA
Always enable two-factor authentication to protect your account, especially given the platform's security history.
Check Fees Carefully
Before a trade, verify the trading fee for the specific pair. Before withdrawal, check the fee for the chosen network to avoid losing a significant amount.
Start Small
Before making large investments, test all processes (deposit, trading, withdrawal) with a small amount to assess speed and usability.
🌐 Interface and Accessibility
Interface: Supports multiple languages, including Russian, English, Chinese, Spanish, and others. Offers two types of trading terminals — simplified for beginners and advanced based on TradingView.
🌏 Restricted Countries and Territories
BitMart prohibits access to residents of the following countries and territories:
Countries under a full ban:
- USA (with significant restrictions, not accepting new users)
- Cuba
- Iran
- North Korea (DPRK)
- Sudan
- Syria
- Afghanistan
- Crimea, Donetsk and Luhansk regions (Ukraine)
Important Note: This list may change. For residents of other countries, access to most services is open, but some products (e.g., futures or Dual Investment) may be restricted depending on the region. Always check the current information on the official website.
💱 Reliability Analysis of BitMart for Arbitrage Operations
BitMart is an exchange suitable for cryptocurrency arbitrage. Based on our trading experience, we can cite the following facts in favor of this:
Important Considerations for Arbitrage
Large, sometimes enormous spot trading commissions. This is the main drawback. There are coins with trading commissions of tens of percent, making them unsuitable for arbitrage. Before a trade, always check the actual commission for the specific pair.
Potential Delays. Deposit/withdrawal delays sometimes occur, which can negatively affect the outcome of trading, especially when working with short time windows.
Liquidity on Niche Pairs. Despite the extensive listing, liquidity on many exotic pairs can be low, leading to slippage on large orders and increasing risk.
Summary
The BitMart exchange is used for conducting arbitrage trades, especially when working with altcoins and searching for anomalies on rare pairs. It shows good operational speed and favorable conditions for withdrawals on the BSC network. However, it is necessary to be extremely careful: always check commissions for the specific trading pair, consider the risks of potential deposit/withdrawal delays, and start with small amounts to test liquidity. It is not recommended for large-scale arbitrage on exotic pairs with unverified commissions.