BitMart is a cryptocurrency exchange that enables individuals and businesses to buy, sell, and trade over 1,000 different cryptos.
In addition to experienced cryptocurrency spot and futures trading screens, the BitMart exchange review includes an essential buy/sell crypto function for newbies and many crypto-earning chances.
This platform can assist both new and experienced traders to locate the information they require. It was the target of a major hack.
BitMart was formed in 2017 to provide global customers with digital asset trading and investing services. It is a Cayman Islands corporation.
BitMart introduced the BitMart Token (BMX) in 2018, which offers token holders trading discounts and other perks on the exchange.
Staking, lending, savings products, and derivatives trading were among the many additional features added to the market throughout the years.
What Is Bitmart Exchange?
BitMart is a cryptocurrency exchange that enables individuals and businesses to buy, sell, and trade over 1,000 different cryptocurrencies.
BitMart provides a simple buy/sell crypto function for beginners and a variety of crypto-earning opportunities in addition to expert cryptocurrency spot and futures trading screens.
Where Bitmart Is Exchange Located
Cayman Islands (Cayman Islands)
BitMart is a centralized exchange situated in the Cayman Islands that launched on March 15, 2018. In addition, it maintains offices in New York, China, Hong Kong, and Seoul.
It allows for spot, over-the-counter, and USD trading. Its goal is to move the globe toward a more equitable financial structure.
Is Bitmart Exchange Safe?
In 2021, there will be a large-scale hack: When the private keys of BitMart’s hot wallets were penetrated in December 2021, $196 million worth of cryptocurrency was stolen, implying that the exchange’s security procedures are insufficient.
Bitmart Exchange Ranking
BitMart’s 24-hour trading volume was $ 2.55 billion.
260 Markets 301 Market share 2.19 percent Rank 5 Cryptocurrencies mentioned
List of Bitmart Supported Countries
The platform is now available in 180 countries and on 123 platforms.
BitMart’s headquarters are currently located in the Cayman Islands, with offices in China, South Korea, and the United States.
This business is now thriving and has surpassed its competition.
BitMart costs most users 0.25 percent (or less) per trade for stock trades. These fees are typical for most exchanges, and however, they are cheaper for some, such as Coinbase.
The Pros of Bitmart Exchange
- BitMart users can purchase and sell over 1,000 different cryptocurrencies.
- BitMart’s staking and savings solutions allow users to earn cryptocurrency.
- BitMart offers a simple buy/sell crypto option, allowing newcomers to buy Bitcoin and other digital currencies with only a few clicks using a variety of payment ways.
The Cons on Bitmart Exchange
- In 2021, there will be a massive hack: When the private keys of BitMart’s hot wallets were compromised in December 2021, $196 million in cryptocurrency was stolen, implying that the exchange’s security precautions were inadequate.
- Poor customer feedback: Several people have left unfavorable reviews and social media posts about BitMart.
After more than a month since the popular cryptocurrency exchange, BitMart was hacked, victims of the $200 million heist are still waiting for their money.
According to sources, BitMart offered total compensation to victims of the $200 million platform hack.
Exchange of cryptocurrencies BitMart offered a full refund to victims of the platform-wide $200 million hack, but some users have yet to get their funds.
On December 4th, hackers made off with various tokens after gaining access to one of the servers using a stolen private key.
BitMart is a global cryptocurrency exchange where both novice and expert traders may buy and sell a diverse range of digital assets.
The business also provides customers with early access to tokens produced through its in-house token launchpad and various yield generation options.
Watch the video below to know more about the Bitmart exchange: