There is a large list of cryptocurrency exchanges and brokers in the crypto industry. This makes it very difficult for users and traders to select a good platform and start trading digital assets. Nevertheless, the cryptocurrency exchange BITmarkets is offering a unique way to trade more than 150 virtual currencies. In this BITmarkets review, we will tell you all you should know about the services offered by this platform and what you can expect from it.
What is BITmarkets?
BITmarkets is a cryptocurrency exchange that offers multiple trading solutions and supports a large number of digital currencies. This award-winning company lets users trade with each other and get access to some of the most popular digital currencies in the world.
Thanks to its easy-to-use approach and the high-quality services offered, this platform could become a key player in the crypto space. Users can register in just a few minutes and start trading virtual currencies as soon as their account gets verified.
The interface is very simple, making it easier for users to find all the information they need as soon as they reach the site. This is a very positive thing considering that multiple platforms have clothed their pages with unnecessary information and data. However, it is easy for traders to obtain both the bigger picture and the details on trading & markets in the Academy section. Newcomers will definitely feel comfortable using this platform.
Opening an Account
If you want to open an account on this exchange, you can do so in just a few simple steps.
- Get verified: users have to verify their identity in order to start trading. This is something that is very common among crypto platforms as regulations around the world require exchanges to collect this information from users.
- Fund your account: to start trading, you will have to add funds to the account. This is a process that follows the same principle as with other online brokers. You can select multiple payment methods and enjoy a unique trading experience.
- Start trading: that’s all you need. Register and deposit funds to start trading.
Why Should You Trade with BITmarkets?
There are multiple reasons why you would like to open an account at BITmarkets. First of all, this exchange is an award-winning and trusted cryptocurrency exchange that offers multiple digital currencies as trading options.
Secondly, BITmarkets boasts some of the most competitive trading fees in the industry and has set a precedent by being the first to completely eliminate fees for spot trading. Thirdly, there is a very fast 1-minute registration process. This is something that lets the company take the lead in a market that tends to be complicated for newcomers. Thanks to its easy-to-use interface users will find that the registration will take just a few minutes.
Another reason to consider trading with BITmarkets is their customer support. While most crypto exchanges have a support team, they have been known for their lack of experience, their delays and late responses. BITmarkets instead, decided to take an approach that focuses on customers and their needs.
They are offering a customer support service that includes vide-calls, phone calls, emails and more. You can get in touch with them in more than 15 languages. Therefore, the platform has been created for people from all over the world.
Finally, security. 99% of the funds held by this exchange are stored in cold storage. Security has played a key role in the last years. We have seen in the news multiple attacks on brokers and crypto services providers. Therefore, BITmarkets decided to take security to the next level and store all their funds in cold storage.
BITmarkets Token (BTMT)
BITmarkets introduced their own unique utility token that offers users a range of exclusive benefits and features. These include:
- Reduced trading fees
- Early access to new features and projects
- Exclusive content availability
- Participation in rewards programs, special offerings, and airdrops
- Access to VIP personalized support services
As of the beginning of 2024, the BITmarkets Token, still in its public sale phase before an anticipated listing, has already demonstrated a promising growth in value. Additionally, the token is set to foster an ecosystem for projects interested in launching their own ICO dashboards, while also giving its holders the power to influence BITmarkets’ investment focus in ESG-related projects for the foreseeable future.
Services Offered
But which are the services offered by BITmarkets?
- Spot trading
Spot trading is one of the easiest ways to trade digital currencies. Users that deposit funds will be able to buy and sell over 150 cryptocurrencies in seconds. You will be purchasing Bitcoin (BTC) or other virtual currencies at the spot price.
- Futures trading
Expert users that want to get access to more advanced solutions and hedge against volatility in the market can use futures trading. This is one of the best ways to add complexity to the trades and plan more advanced solutions for investors that require additional solutions.
- Trade with Margin
With margin trading, investors can borrow funds and trade digital currencies. This is great for investors that want to maximize gains and increase their exposure to the market. While some exchanges are allowing users to trade with margin, few platforms let you do so in just a few simple steps.
BITmarkets has also introduced the Deposit to Margin feature, significantly enhancing the experience for margin traders and investors. This new functionality allows users to directly deposit funds into their margin accounts, bypassing the need for separate wallet transfers. This streamlines the trading process, saves time, and minimizes the risks associated with moving funds.
- More than 150 cryptocurrencies on offer
The exchange is offering traders the possibility to choose from over 150 cryptocurrencies. This will let passionate investors get access to unique digital assets and create diversified trading strategies.
- Academy
For newcomers and experts alike, BITmarkets offers an academy section that provides helpful articles, trading tips and tutorials, including information about digital assets, specific cryptocurrencies and more. This way of practical education eliminates investment risks and bolsters successful trading strategies.
- Referral program
Finally, BITmarkets is offering a referral program that lets users gain 10% in trading fees and 5% of the earnings of your friend’s referrals. Furthermore, your friends will get a 10% discount on 30-day fees. This is a great way to get rewarded for spreading the word about BITmarkets.
- Awards
BITmarkets is also an award-winning cryptocurrency platform. The company is committed to providing users with the best trading experience in the market. Due to their effort to offer a unique experience to users, BITmarkets received numerous awards in recent years.
They have been recognized as:
- The best crypto exchange
- The most trusterd crypto exchange
- The platform with the best education program
- The exchange with the best customer service
There are many other awards that show BITmarkets is among the leading companies in this competitive industry.
- Fees, Commissions, Deposits and Withdrawals
Users can deposit multiple fiat currencies using different networks such as SWIFT and SEPA among others (depending on where the users are). The minimum deposit starts at €30 for SWIFT payments, €20 for SEPA and $10 for Credit Cards.
Additionally, deposits of more than €30 with SEPA have no fee. Cryptocurrency deposits are free but withdrawals have additional commissions.
Like many other cryptocurrency exchanges, BITmarkets offers a tiered discount scheme for traders. The fees for spot trading are determined by a 30-day rolling window of trading volume. The more the user trades, the higher the discount applied to trading fees.
There are multiple VIP levels. Maker and taker fees range from an unprecedented 0.0% for spot trading up to the maximum of 0.14%.
Pros and Cons
Find below a list of Pros and Cons of BITmarkets.
Pros:
- It’s an award-winning cryptocurrency exchange
- The interface is very easy to use (for newcomers and experienced traders)
- They support over 150 different digital assets
- Multiple payment methods are accepted
- BITmarkets has a large academy section for users to learn more about digital assets
- Advanced trading tools available to users
Cons:
- High minimum deposit compared to other platforms
- Demo functionalities not available
Conclusion
BITmarkets is a fast-growing and easy-to-use cryptocurrency trading platform that offers multiple services such as spot, futures and margin trading to crypto investors all around the world. There are many other services that this company has developed for traders and users to enjoy a unique experience trading digital assets.
