Think of buying crypto on Bitmart? Before you put in your hard-earned cash, be aware of any possible dangers. This article reveals the realities of the Bitmart crypto exchange.

Quick facts: Is Bitmart Legit

• ✅ BitMart is ranked #7 in CoinMarketCap’s list of exchanges, as of July 2020. (CoinMarketCap)
• ✅ BitMart has over 400 trading pairs as of July 2020. (CryptoCompare)
• ✅ BitMart has a 24-hour trading volume of approximately $104 million, as of July 2020. (CoinMarketCap)
• ✅ BitMart has a rating of 4.2/5 on TrustPilot, as of July 2020. (TrustPilot)
• ✅ BitMart has over 2 million users as of July 2020. (BitMart)

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Introduction

Bitmart is an online cryptocurrency exchange. It lets traders buy, sell and store crypto. Founded in 2017, traders everywhere have come to rely on it. But, since the crypto industry is so unregulated, some are uncertain about Bitmart’s legitimacy.

This article looks at the facts to help you decide if Bitmart is trustworthy. We’ll look at the company’s background and reviews from customers. After reading this, you’ll be able to make an informed decision. Is Bitmart right for you?

Overview of Bitmart

Bitmart is a South African crypto exchange platform, set up in 2017. It provides a simple-to-use interface and allows users to buy, sell and trade cryptocurrency. You just need your email to register!

Bitmart has a choice of 12 coins and the ability to transact in multiple currencies such as EUR, USD and ZAR. It also has zero trading fees on most trades, making it attractive for new traders. Plus, you can access Bitmart on your mobile with the Android and iPhone apps. It even has its own debit card called BMX, which lets customers top up their accounts from any ATM in South Africa using credit or debit cards.

Security

Safety is vital when selecting a cryptocurrency exchange, and BitMart is no exception. It has taken various security steps to guard its users’ funds and data. These include two-factor authentication, anti-phishing protection, SSL encryption protocols, cold storage of digital assets, and more.

Also, BitMart has adopted KYC and AML regulations so that the transactions occurring on their platform abide by the applicable legal requirements in each jurisdiction they operate in. To further reassure its customers of the protection of their funds and data, Bitmart follows industry best practices. For example, regular cyber security reviews by external cybersecurity firms and penetration testing for potential vulnerabilities.

Security measures in place

Security is Bitmart’s #1 priority. To ensure user funds are safe, they have implemented 2FA for all users, cold wallets, an anti-fraud system, and a secure API.

Bitmart also offers account security features such as email and SMS notifications. They have a strict policy against money laundering and fraudulent activities. All withdrawal requests are subject to manual review by the compliance team and internal fraud department.

To protect against data breaches, Bitmart does not store customer info on its servers. They utilize a third party’s secure cloud infrastructure.

Anonymity

Anonymity is a great perk of trading on Bitmart! Users don’t have to give away their identities, unlike other exchanges. No need for identity verifications or account linking. Plus, all customer data is encrypted and employees can’t access it. So, traders can feel secure their personal info is safe with Bitmart.

Security audits

Kickscrew employs security audits to guarantee their crypto exchange is legitimate. They’ve hired multiple third-party security firms to test and scan their system. This ensures user data is secure and encrypted. Kickscrew further implements fraud prevention measures, to protect customers from malicious attacks or theft.

Additionally, they use market-leading tech to keep customer data private and secure. Therefore, customers can trust their funds are safe when trading on Kickscrew’s platform.

Fees

Fees can get costly if not handled precisely. Bitmart offers some of the best fees in the crypto sphere – a flat rate of 0.1% per trade and no deposit or withdrawal fees. Using the BTMX token gives you an even lower fee of 0.05%.

Bitmart provides high liquidity and tight spreads. They have a Dynamic Trading Fee program that rewards high-level traders with their own fees in exchange for extra liquidity and tighter spreads, which is advantageous for traders of all sizes.

Additionally, they have lending services. It allows customers to borrow BTMX tokens from other users at interest rates set by the lenders. This offers another method to make money through crypto trading.

Trading fees

Bitmart’s trading fees are quite competitive compared to other major crypto exchanges. Fees depend on trading volume. A fee of 0.2% for buying and selling crypto applies to traders whose monthly trading volume is between 0-500 BTC. This rate reduces to 0.1% for those with a monthly trading volume over 50K BTC.

Deposits and withdrawals are free for most coins, except Ethereum (ETH) and Bitcoin (BTC). For these coins, users get charged a flat rate of 0.0004 ETH and 0.0001 BTC per transaction on the blockchain network.

Withdrawal fees

Bitmart boasts some of the lowest cryptocurrency withdrawal fees in the market. It charges a flat fee of 0.001 BTC per bitcoin withdrawal, no matter the amount. This is much lower compared to other exchanges, which usually charge more for larger withdrawals. Plus, Bitmart does not add additional processing fees. This is significant since most exchanges add a fee when customers withdraw funds from their account.

To top it off, Bitmart also permits users to convert their crypto funds into fiat currencies like U.S. Dollars and Euros. This is done via third-party processors such as PayPal and Skrill, at minimal costs. Thus, it’s an excellent choice for those who want to cash out their crypto.

User Interface

Bitmart’s user interface is neat and simple. It has a super-intuitive design, so you can find what you need with ease. Also, there are charts, order types, and other tools to make trading simpler and faster. You can check your portfolio info in one place. Furthermore, there’s a detailed dashboard giving you updates on your holdings, deposits, trades, and more.

For now, more complex trading features such as margin trading and derivatives aren’t available. But you can still buy/sell orders or spot trades from one page. Plus, you can purchase crypto with credit cards or bank transfers. All in all, Bitmart’s UI is highly powerful, giving you various options for the crypto market.

Layout

Bitmart’s website is uncomplicated and simple to use. Everyone can easily understand it, making it comfortable for first-time users. It showcases real-time charts and a risk management tool. This assists traders to monitor their trades and reduce their risk.

Many customers found the website layout well planned and understandable. Generally, the majority of reviews are positive towards the design of the Bitmart website.

User-friendliness

Bitmart is a cryptocurrency exchange that is becoming popular with users worldwide. It has a simple, intuitive interface and advanced tools for traders. These tools let users manage accounts, follow prices and place orders easily.

Bitmart has features to interest investors too, such as margin trading, stop loss options and low transaction fees. The website also provides 24/7 customer service and live chat support. This makes it easy for users to ask questions and get help.

All these user-friendly features make Bitmart one of the most popular exchanges in the crypto market.

Customer Support

Bitmart takes customer service seriously. They provide 24/7 help from experienced staff. Plus, their website has a knowledge base and FAQ section for quick solutions. On top of that, Bitmart offers two-factor authentication (2FA) for extra security. They also have policies to ensure customer privacy and prevent fraud or abuse.

All these measures make Bitmart a secure and reliable crypto exchange platform.

Live chat

Live chat is a super way for shoppers to get help from JustFab. They provide plenty of options to contact their customer service squad, such as live chat. This makes it simpler for customers to find answers fast, without waiting on the phone or search the website. Live chat also gives shoppers an extra layer of security. They are talking only with a rep and not with malicious software or a person pretending to be a customer service agent.

The customer service agents at JustFab have had full training. They give great customer service and answer customer queries right away – no delays!

Ticket system

CheapoAir has a ticket system to give customers the best possible experience. It’s the way for customers to get in touch with customer service reps. They can email, call, chat, or use the website contact center.

Once an inquiry is received, the ticket system assigns it a unique ID, with details like customer name and contact info. The request is sent to the right rep who’ll respond within 24 hours. This way, customers can keep an eye on their progress, no matter how they contacted customer service.

Conclusion

To sum up, Bitmart is a valid crypto exchange. It provides a variety of services like spot and margin trading, staking and lending, payment methods, and a mobile app. But, customer service has had some complaints. This suggests the company should invest in better service.

Despite this, many traders who have used the platform have given positive feedback. This implies that Bitmart is a reliable and reputable crypto exchange – suitable for beginners and experts.

Summary of findings

Our investigation of HSN concluded that it is a legitimate and reliable crypto exchange. We looked at all the sources, discussed their security protocols and found that HSN:

• Prioritizes customer safety;
• Collaborates with financial institutions for compliance;
• Offers numerous digital assets to trade;
• Boasts an easy-to-use platform.

Moreover, HSN has a good reputation with regulators and has never been accused of any unlawful activities or scams.

Overall, we trust the platform to offer a worry-free trading experience. We believe HSN will keep providing reliable service in the future.

Final verdict

To sum up, Bitmart is a legitimate crypto exchange. It has earned approval from the Industry Self-regulatory Organization for Digital Assets (SRO). This means it is subject to the same financial regulations as banks. Its history goes back to 2018, and it has become well-known amongst many users across the globe. This is likely due to its secure storage system and attentive customer service.

Furthermore, it offers lots of trading pairs, making it a desirable choice for traders. All in all, Bitmart is a reliable platform that gives users a secure environment for trading digital assets.

FAQs about: Is Bitmart Legit

Q: Is Bitmart a legitimate investment platform?

A: Yes, Bitmart is a legitimate investment platform. It is a reliable, secure and user-friendly platform for investors to buy, sell and trade digital assets.

Q: Does Bitmart have any security measures in place?

A: Yes, Bitmart has multiple layers of security measures in place to protect users’ assets. It uses two-factor authentication, cold storage, SSL encryption and other measures to ensure the security of users’ digital assets.

Q: Does Bitmart charge any fees?

A: Yes, Bitmart charges trading fees for certain transactions. The fees depend on the type of transaction and the volume of the trade.