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BitMart offers one of the largest cryptocurrency selections we've seen and competitive trading fees. With plenty of advanced features, including margin and futures trading, it's great for more experienced investors. Unfortunately, the exchange lost $196 million in crypto from a hack in December 2021. Read our full BitMart review to find out more about its pros and cons.
Bottom Line
The features, trading options, and fees on BitMart are all excellent, but security is a concern after it was the victim of a high-profile hack.
Fees:
Spot trading: 0.06%-0.25% Futures: 0.04%-0.06%
Account Minimum:
$30 buy/sell minimum
Offer |
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Robinhood
Limitations Apply |
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Rating |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Commissions |
$0 for stocks, ETFs, options, and cryptocurrencies
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Variable fees (Coinbase), 0%-0.60% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
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Next Steps |
This cryptocurrency exchange is a good fit for: Experienced crypto investors who want access to a variety of trade tools and cryptocurrencies.
There aren't many exchanges that can match BitMart's crypto selection. It lets you trade over 1,000 digital currencies, including most of the market leaders and all kinds of smaller crypto tokens that you rarely see offered by major exchanges. If you're looking for a place to get those hard-to-find cryptocurrencies, BitMart could be the answer.
BitMart offers crypto staking, allowing you to lock up funds for 30 to 90 days to earn interest on them. It's only available with a limited number of the cryptocurrencies BitMart offers, but it's a simple way to grow your holdings. This exchange also has a savings program, BitMart Savings, that pays interest on other types of cryptocurrency. However, it's not available to U.S. investors.
RELATED: Compare options with The Ascent's picks for the Best Crypto Staking Platforms.
BitMart is one of few exchanges to offer crypto futures trading and margin trading, both of which allow you to use leverage with your crypto investing. Keep in mind that these are risky investing strategies to begin with, and adding cryptocurrency to the mix makes them even riskier. It's possible to lose large amounts of money this way, so futures and margin aren't recommended for most crypto investors.
Interested in learning more? Check out:
If you're interested in buying non-fungible tokens (NFTs), BitMart NFT has a variety of options for sale and some unique projects. It still needs to work out some kinks -- there's no search function, for one, and there aren't many ways to sort listings. But it has potential, and BitMart users who are interested in NFTs could find it convenient.
SEE MORE OPTIONS: Best NFT Marketplaces
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BitMart experienced a large-scale security breach in December 2021. Hackers stole a private key to two of the exchange's hot wallets and used it to withdraw $196 million in cryptocurrency.
In response, BitMart took action to improve its security, and it promised to compensate all its clients who lost money. However, five weeks after the incident took place, many victims were still waiting for payments.
This exchange is best suited for intermediate to advanced investors. Although investors of all experience levels can use it, there are much more beginner-friendly crypto exchanges out there.
BitMart, on the other hand, has a bit of a learning curve. Even the standard trading tool presents quite a bit of information. There's also a buy and sell option, but this presents you with multiple offers from third-party crypto trading services, each with its own rate and accepted payment methods.
CHECK OUT OTHER OPTIONS: Best Crypto Apps and Exchanges
User reviews are mixed and many have struggled to transfer funds, which can certainly be frustrating. There are also complaints of glitchiness, and authentication getting in the way of accessing users accounts.
BitMart allows you to buy, sell, trade, and earn cryptocurrency. When you use the buy and sell tool, BitMart provides offers from its third-party partners:
After you select an offer, you'll need to complete the transaction on that partner's website.
The exchange has several different crypto trading options. It offers a standard trade tool, which is simpler to use, and an advanced trade tool with all trading features. There's also margin trading and futures trading available.
You can earn interest/rewards on your cryptocurrency balances with BitMart Savings and BitMart Staking. Note that BitMart Savings isn't available for U.S. residents, but the staking program is.
BitMart also has its own cryptocurrency, BitMart Token (BMX). If you have a sufficient balance of BMX tokens, you can qualify for lower trading fees. Standard users can also get a 25% discount on trading fees when paying them with BMX tokens.
For standard users, BitMart has a tiered trading fee structure that starts at 0.25%. Your level depends on the number of BMX tokens you have; the more tokens you have, the lower your trading fees. You can also get a 25% discount if you pay your trading fees with BMX tokens.
The exchange uses a maker-taker model. Taker fees are charged on orders that are filled immediately, and maker fees are charged on orders that aren't. Here's the full trading fee structure for standard users on BitMart:
Level | BMX Holding | Maker/Taker Fees |
---|---|---|
1 | BMX ≥ 0 | 0.25%/0.25% |
2 | BMX ≥ 500 | 0.20%/0.20% |
3 | BMX ≥ 2,000 | 0.18%/0.20% |
4 | BMX ≥ 10,000 | 0.16%/0.18% |
5 | BMX ≥ 50,000 | 0.14%/0.16% |
6 | BMX ≥ 100,000 | 0.12%/0.14% |
7 | BMX ≥ 200,000 | 0.10%/0.12% |
8 | BMX ≥ 500,000 | 0.08%/0.10% |
9 | BMX ≥ 1,000,000 | 0.06%/0.08% |
For professional users who trade at least 150 BTC per month, maker fees start at 0.04% and taker fees at 0.06%. The highest volume traders can even qualify for negative trading fees, meaning they receive a small amount of the trade from BitMart. Note that unlike standard users, professional users don't receive a discount for paying with BMX tokens. Here's the BitMart fee structure for professional users:
Level | 30-Day Trading Volume | Maker/Taker Fees |
---|---|---|
Pro1 | BTC ≥ 150 | 0.04%/0.06% |
Pro2 | BTC ≥ 500 | 0.02%/0.06% |
Pro3 | BTC ≥ 2,000 | 0.00%/0.04% |
Pro4 | BTC ≥ 5,000 | -0.001%/0.04% |
Pro5 | BTC ≥ 10,000 | -0.005%/0.02% |
Pro6 | BTC ≥ 40,000 | -0.01%/0.02% |
Futures trading has maker fees of 0.04% and taker fees of 0.06%. There's no discount for paying with BMX tokens.
BitMart doesn't charge deposit fees. Withdrawal fees vary depending on the type of cryptocurrency.
A high point for BitMart is its massive selection of cryptocurrencies. It offers over 1,000, which is far beyond what most major exchanges have. You'll be able to trade just about all the biggest cryptos on BitMart, including:
In addition to the heavy hitters, BitMart offers all kinds of smaller cryptocurrencies you don't see on many other exchanges. This means you need to be even more careful about what you invest in, because many of these tokens have dubious value. For example, you could buy Baby Doge Coin (BABYDOGE) on BitMart, but I wouldn't recommend it. Still, if you want options, you'll have plenty of them on this exchange.
There's no way to be completely confident in BitMart's security right now. We've already been over the major hack, which happened fairly recently. In fairness, BitMart stated it would compensate victims in full, but it's not clear if the exchange followed through.
BitMart isn't the first exchange to get hacked, and it almost assuredly improved its security infrastructure in response. What's more concerning is the lack of security information it provides.
Many crypto exchanges have specific web pages with breakdowns of their security features. On BitMart, there's not much available, outside of a short blurb on its homepage that mentions how it uses hybrid hot/cold wallet systems and multi-signature technologies. That's a start, but it would be nice to see BitMart go into more detail, especially now that its reputation isn't the best.
One great way to reduce your risk with any crypto exchange is to transfer the crypto you buy to your own crypto wallet. It will then be in your possession, so it's not at risk if the exchange is hacked. This could be a suitable option if you want to use BitMart but are worried about the safety of your crypto.
LEARN MORE: How to Safely Store Cryptocurrency
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Lyle Daly owns Bitcoin, Ethereum, BNB, Cardano, and Solana.
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Robinhood Crypto disclosure
This advertisement contains information and materials provided by Robinhood Financial LLC, Robinhood Securities LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Cryptocurrency trading offered through Robinhood Crypto LLC. Robinhood Crypto and Publisher are not a members of FINRA or SIPC and cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance.