Several centralized exchanges have been launched in the past decade to allow crypto users to access digital currencies conveniently. BitMart is among the exchanges that stand out from the crowd thanks to its unique products and services that enable it to accommodate both retail and institutional traders.
If you are planning to trade cryptocurrencies on BitMart, we recommend reading our comprehensive guide to this exchange before creating an account.
About BitMart
BitMart began its operations at the start of 2017. It’s popular among crypto traders who value privacy because it doesn’t implement mandatory KYC (Know Your Customer) requirements. Along with allowing traders to transact without revealing their identity, BitMart offers a secure trading environment by adopting sophisticated security protocols.
Regarding asset offerings, BitMart users have access to nearly 1,500 digital currencies. By comparison, top exchanges like Coinbase and Binance list less than 600 cryptocurrencies each. Notably, BitMart supports NFTs and offers staking services.
So, who is the founder of this exchange? Sheldon Xia, who currently serves as BitMart’s CEO, is the brains behind the trading platform. He holds degrees in business management and computer science.
Exploring BitMart’s Features and Tools
BitMart has numerous helpful features and tools that offer customers a seamless trading experience. They include:
Instant Crypto Purchase
You can quickly buy your first digital asset on BitMart using the “Buy Crypto” functionality, which gives access to various traditional payment methods. As of August 2024, BitMart users can buy cryptocurrencies through debit/credit cards, Simplex, and Banxa.
Also, the exchange supports peer-to-peer trading, enabling you to purchase cryptocurrencies from another user without involving conventional financial institutions.
Trading Terminal
BitMart’s trading platform lets you trade on the spot and futures markets. Over 105 perpetual contracts have been listed on the futures market as of this writing. These contracts can be traded with a leverage of up to 100x.
While futures trading is popular mainly among experienced traders, BitMart provides a copy trading service to ensure beginner traders participate in the market by replicating the trades of experts.
Further, BitMart’s trading platform features analytical tools from TradingView, thus enabling effective analysis of the cryptocurrency markets.
Earn Products
Do you wish to earn passively as a BitMart user? Well, you can do so through the exchange’s “Earn” products, which include savings, dual investment, and staking.
NFT Trading
As stated, BitMart supports nonfungible tokens. However, you need to verify your identity before trading them.
The BitMart NFT marketplace is multichain, meaning it supports NFTs created on more than one blockchain. As of August 2024, you can trade NFTs developed on the Ethereum, BNB, Chain, and Polygon networks. Additionally, if you are an NFT creator, BitMart lets you list your project on its launchpad, where users can mint your nonfungible tokens.
Other Features
When you click the “More” button on the BitMart homepage, you’ll access extra services and features, including a Reward Hub, learning resources, and the Inscriptions market, which lists Bitcoin-based tokens. (BRC-20).
How to Create a BitMart Account
Now that you understand the features to expect on BitMart, it is time to teach you how to sign up with the crypto platform.
1. Download the BitMart mobile app from the Play Store or App Store. We advise against getting the app from a third-party platform to avoid installing a fraudulent one.
2. Upon installation, select a signup method. Bitmart allows you to register using your phone number or email address. After providing the requested signup details, agree to BitMart’s privacy policy and user agreement and then click “Sign Up.”
3. Next, complete the human verification process by selecting the displayed images in the required order.
4. BitMart will then send an OTP to your email or phone number for verification.
5. After that, you can access your BitMart account and fund it using your ideal payment method.
Conclusion
BitMart has proven to be a reliable crypto exchange since its inception. The wide range of cryptocurrencies demonstrates the platform’s commitment to facilitating diversification. However, users should be cautious of liquidity problems experienced in less-known crypto assets.
