Cryptocurrency Exchange BitMart

BitMart BitMart website
Name BitMart
Founded 2018
Brief Bitmart is a fledgling but already well-recognized cryptocurrency trading platform. It was founded in November 2017 by Sheldon Xia...
Last updated: Friday, January 17, 2020 12:00:02PM UTC
Volume 24 hours, USD: 1 326 807 185
Volume 7 days, USD: 7 662 585 832
Volume 30 days, USD: 30 690 887 426

BitMart general information

General BitMart facts, technical details and general information about BitMart exchange


Bitmart is a fledgling but already well-recognized cryptocurrency trading platform. It was founded in November 2017 by Sheldon Xia, an aspiring Chinese/U.S. digital entrepreneur who is also known for being the founder of such tech projects as Star Media Culture and Bachi.Tech which, apparently didn’t get much traction.

BitMart, on the other hand, is by far Sheldon’s most successful project since the crypto exchange is presently occupying the 27th spot on CoinMarketCap by the adjusted trading volume, boasting the daily volume of $430 million (as of writing), $2.8 billion of weekly trading volume with the monthly one reaching $15.1 billion. The all-time trading volume at BitMart is steadily approaching the $180 billion mark. These figures alone are illustrative of the liquidity provided by BitMart. 

This cryptocurrency exchange is officially registered in the jurisdiction of the Cayman Islands, though the company is said to maintain close contacts with the U.S. regulatory bodies, and has even acquired the Money Service Business (MSB) license from the Financial Crimes Enforcement (FinCEN). Consequently, BitMart was placed in a relatively small cohort of cryptocurrency exchanges that admit the citizens of the United States to the trading platform. Moreover, this license should allow the BitMart to provide legitimate crypto-to-crypto services in many U.S. jurisdictions. The company’s headquarters are located in New York with three branch offices located in Greater China, Hong Kong, and Seoul (South Korea).

Currently, BitMart offers 245 trading pairs and lists more than a hundred cryptocurrencies which are divided into five different markets: Bitcoin, Ethereum, USDT, Alts, and BMX markets. BMX, or BitMart Token, is platform’s proprietary coin which is currently ranked 353rd on CoinMarketCap, priced at $0.03 per BMX, as of writing. The currency itself is a solid performer, having displayed 300% gains over the course of this year, going from $0.008 to $0.04 is less than six months of 2019. BMX reached its all-time high of $0.071 in July of 2018. The present BMX market accounts for 12 trading pairs, including XRP/BMX and XML/BMX.

This February, BitMart concluded a partnership deal with Paxful, the US-based peer-to-peer Bitcoin marketplace similar to LocalBitcoins, designed to boost liquidity and scalability of both platforms as well as afford the possibility for BitMart users to engage in P2P trading. Recently, the company launched BitMart Labs, the incubation platform for promising blockchain projects. The exchange also has its own launchpad that had already hosted several successful IEOs, namely Magic Cube, Unitopia, IOTW, and Bicoin.

When it comes to fees, BitMart offers nothing out of the ordinary: 0.2% for taker and 0.1% for makers. The withdrawal commission amounts to 0.0005 BTC, which aligns with the rest of the industry. Deposits are made on a no-fee basis. BitMart declared the intention to introduce the margin, futures contract, and over-the-counter trading in the near future.


Benefits of BitMart

  • A legitimately operating cryptocurrency exchange that has never been involved in shady activities;
  • Offers a good variety of supplementary services, such as an accelerator and a launchpad;
  • Possesses the intra-platform cryptocurrency that is doing well in terms of price appreciation;
  • BitMart will soon introduce the P2P trading in partnership with Paxful, along with a host of other financial services. 
Author: Alex Paulson for Crypto-Rating.com

BitMart volume change chart — 7 days

BitMart volume change chart — 30 days

BitMart

BitMart (BitMart) volume change (24h)

BitMart volume change 24 hours 3.59%

Top 10 Crypto Exchanges

Volume 24h, USD Change 24h
Binance 1 861 237 067 1.91%
BitMEX 3 617 343 584 14.40%
TAGZ Exchange 3 485 560 734 11.50%
TAGZ 3 417 383 015 3.75%
BKEX 3 064 232 286 9.41%
Fatbtc 2 499 139 066 -32.17%
P2PB2B 2 362 637 339 30.73%
BitForex 2 345 487 756 -11.98%
Biki 2 305 749 643 -0.93%
LBank 2 239 956 856 25.04%

Rating