Bitmart is a user-friendly platform that allows anyone to purchase, sell, stake, or trade with a large variety of cryptocurrencies. Bitmart was founded in 2017, and since then it has been the most trusted trading platform for both individuals and companies.
Bitmart is available in 180 countries currently, meaning most people can use this platform for over 200 cryptocurrencies. Bitmart, like any other company, has been maliciously attacked before, losing between 150-200 million dollars in users’ wallets.
Despite being very secure, issues still occurred, but the company reimbursed everyone who lost money in this attack. After studying this topic, here is what we found on Bitmart’s genuine level of security.
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Bitmart’s Official Information
| Official Website: | https://www.bitmart.com/ |
| Founded: | 2017 |
| Owner: | Jacques Serfontein |
| Location: | Grand Cayman, Cayman Islands |
| Contact: | support@bitmart.com |
| Social Media: | Youtube, Instagram, Twitter |
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What is Bitmart?
Bitmart is a new and easy-to-use platform designed to make the trade of digital funds or cryptocurrencies available for anyone, almost anywhere. Bitmart has a list of the top-priced coins and a list of the top gainers, followed by a twenty-four-hour percentage of change.
Bitmart also shows the last purchased price to show the stats of each coin in a current or live based time. Bitmart is a clean and user-friendly app to make trading cryptocurrencies safe and easy.
Bitmart is a secure, governed crypto-trading platform that accepts fiat currencies and a low fee making it even more attractive. This low fee is preferred often by businesses or for a person, over its competitors.
Using Bitmart is completely legal and you face no risk when trading in this app, in any of the 180 countries it is approved in. Based on research, Bitmart has been confirmed almost entirely legit, and safe for users.
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Is Bitmart Legal & Safe, or another scam?
Bitmart is legal in most places in the world, involving 180 countries, one of which is the United States. While not available in every country, it is available to every populous country, as in European nations and more.
Your chance of being scammed on Bitmart is around zero percent based on the only recorded incident of this is from a large-scale hacking of Bitmart. Though this sounds bad, but Bitmart suspended withdrawals during this time to prevent it from happening, then reimbursed everyone who lost money in the attack.
Bitmart does not have any viruses, malware, or any form of malicious conduct lurking to attack you. It is a safe and trustable platform that has been trusted for years by businesses and people.
Bitmart does not steal any data, and encrypts your data for your safety, using a large-bit code for each user. This makes leaking data or information nearly impossible for anyone on the site to do, including the site itself. After searching for some time, there have been no similar or related scam sites attempting to steal a user’s information or logins.
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Is Bitmart Reliable and Trustworthy?
In short, yes Bitmart is reliable and trustworthy, but listen to what other users have to say about this. Ratings show that Bitmart has a 4.2 out of 5-star rating, between 7,600 reviews. These ratings show how good the app and platform were to get started in crypto-trading.
On Bitmart you can withdraw/refund the money you put into the platform at any given point of using Bitmart.
The majority of the reports on this app are positive and over consume the negative reviews that can be shown on the review link above. These ratings should help answer the question of Bitmart’s reliability.
The customer support responds in the necessary urgency that you would expect from any top-tier business. Their support is responded to with the needs of the sender in mind constantly, and well-made.
Any issue with Bitmart has been made easy to solve with the partnership with agencies like MSB & FinCEN. Using Bitmart you can rest easy knowing your money is safe!
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Pros & Cons of Bitmart
No matter how great a platform or item is, it has its flaws, view below to see the good and bad qualities of Bitmart. This will personalize the answer to the question you ask yourself of Bitmart being worth using.
Pros:
- Regulated to function in many countries
- Fast and secure exchanges
- Many cryptocurrencies are accepted
- Low Trading Fees
- Majority of traders use Bitmart
- Good Customer Support
- Repays users
Cons:
- New platform
- Lacking some cryptocurrencies
- Lacking legality in some countries
- Was hacked recently
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How Does Bitmart Make Money?
Like every other corporation, Bitmart must make money in some sort of fashion. Unlike other corporations, Bitmart makes this simple without any scams or hassles.
In each exchange a user makes, Bitmart takes a low percentage as a fee that can truly compete with other exchange platforms. Bitmart charges a fee of .25% in each transaction, which is lowered even more when using the native currency of BMX coin, the fee of which is lowered to nearly nothing.
Bitmart’s money comes from these low fees, but they make the most of it, making Bitmart the most popular and trusted crypto-exchange platform available.
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Bitmarts Best Alternatives
If what you learned above doesn’t quite cut it, try the following exchange platforms that are also top-rated!
- Coinbase / Coinbase Pro
- Gemini
- eToro
- Poloniex
- Bittrex
- Binance
- Coinmama
- Kraken
- Cash App
- Bisq
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Bitmart’s FAQ
What is Bitmart Earning?
Bitmart earn is where users of Bitmart can analyze opportunities to earn money on the tokens they have.
How to Buy on Bitmart?
On Bitmart, buying is made simple and easy to do in the app or whatever platform you prefer using. To do so select the token of your choice, view the statistics on the given token, then select the purchase button. After putting in your payment method, and following through with that payment you will have your digital crypto-token.
Will Bitmart Convert Safemoon to Version Two?
Bitmart will support the conversion of Safemoon’s version one onto version two. The process is easy and straightforward.
What is the Conversion Ratio of Safemoon V1 – V2?
The conversion ratio from V1 on Safemoon to v2 is 1000:1.
When does Bitmart Distribute Safemoon?
Bitmart will open depositing at 11:00 AM EST timezone.
What is the Bitmart app?
The Bitmart app is a mobile experience in which you can exchange cryptocurrencies from the comfort of your bed, or across the world.
What is the Bitmart app Available on?
The Bitmart multi-tool app is available on all recent devices of apple and android.
How Long Does a Withdrawal on Bitmart Take?
Typically as shared by users, Bitmart takes only 24 hours or less usually to make a withdrawal back to your account.
How do you Know if Your Withdrawal was Successful?
For confirmation that your withdrawal has gone through, Bitmart will send an email to the email linked on your Bitmart account, so make sure you always have access to that email.
Why isn’t my Withdrawl Working?
Often when users submit a request to withdraw they forget to verify this said request and that is what will slow down the process in most cases, or even stop the withdrawal till it is resolved and confirmed.
When was Bitmart Attacked?
Various tokens were stolen on December the 4th of 2021, and reimbursements were taking place immediately after this.
When will Bitmart Reimburse its Victims?
Bitmart plans to reimburse all of the victimized users that took palace in the hacking by the end of January 2022.
How Long is the Bitmart Verification Process?
The Bitmart verification process following signup takes around 24 hours to finish in most cases, and rarely takes any longer than this time.