We live in a very digital world and paper money is becoming less and less common. Cryptocurrency of all kinds is developing at lightning speed. Some companies are even paying salaries in crypto. As the crypto niche and trading in general grows, so does the demand from traders or users for reliable crypto trading platforms. And such platforms also in turn appear very often. But how do you choose a reliable platform? How do you know that on that particular platform your data is fully protected and you will be able to withdraw your capital? In our today’s review, we will try to understand this issue using the example of the crypto exchange BITmarkets.com.
BITmarkets Token (BTMT)
BITmarkets’ unique utility token was introduced by COO at BITmarkets, Peter Sumer, in his Forbes interview. BITmarkets Token (BTMT) is a digital asset issued to provide users with a range of exclusive benefits and features, such as:
- Reduced trading fees
- Early access to special features and projects
- Access to exclusive content
- Participation in reward programs, offerings, and airdrops
- Access to VIP personalised support
BITmarkets Token will provide an ecosystem for projects interested in launching their own ICO dashboard while giving its holders an opportunity to vote on the selection of investments within ESG that BITmarkets will focus on in the foreseeable future.
Between a successful private sale that started in March 2023 (during which tokens worth more than one million dollars were sold), and public sale starting in autumn, registered users now exclusively have a chance to buy the tokens in pre-sale for a more attractive price before BTMT enters the market and thus benefit from early bird valuation.
BITmarkets.com Trading instruments
In early 2022, a new cryptocurrency exchange, BITmarkets.com, appeared on the horizon of the crypto world. BITMarkets is run by Unicorn Technologies Limited, which brings software solutions, digital asset technology and virtual financial assets through a Peer-to-Peer network and centrally managed exchange platform, while maintaining the highest levels of security for excellent customer service. Although the fact that the crypto exchange is not regulated in any way, hopefully this will change in the future, traders may be impressed by the number of cryptocurrency options.
Its amount is more than 80 pairs. Trading is against USD and EUR. Plus, the crypto exchange offers a referral program with real and tempting bonuses. Not every crypto exchange has such an offer.
In the trade option, traders have the choice of spot and futures, which makes your trading activity more efficient, depending on your preferences.
Just below on the home page, traders are offered instantaneous conversion in different variations, which means you don’t have to search the site for this feature. It’s all very well designed – all the most important things are in plain sight.
Broker fees may vary and change, and there may be additional fees not listed in this review. BITmarkets has some of the lowest trading fees in Europe. It has also launched a new discount system that rewards those who trade in larger volumes. The higher the volume, the lower the fees. The only downside is slightly more expensive withdrawals.
Platform and interface
The website of this crypto exchange is designed to be concise, but in a good way. The site is not cluttered with unnecessary information and all the most important buttons are visually appealing. The developers of this project have done a good job and the approach is very customer-oriented. The website is localized into 28 languages, which means that traders from almost all over the world can enjoy the platform without language barriers. This fact gives a lot of bonuses to the crypto exchange.
The color palette of the site is very soft so to speak, in yellow and white with elements of black. The font is large and legible. In the footer itself you can find important information regarding the content, including legal information.
The platform developers have also put a lot of effort into creating a solid platform for trading. That means you don’t have to install an app to use the site, you just have to create an account and log in.
As the site is designed for skilled crypto traders, it does not offer a demo account. To some, this could be a disadvantage. But in contrast, there is a logical reason for it. The site is narrowly focused on cryptocurrency, without securities, gold or other trading instruments. Basically, the lack of a demo account is a kind of protection for the client base. That is, if a person creates a trading account, it is a direct benefit both for the user and for the crypto exchange. In the case of a demo account, the user may never open a trading account and it is a disadvantage for both the user and the crypto exchange. For me personally, not having a demo account is more of a benefit than a drawback.
Registration and creation of a trading account at BITmarkets.com
The complexity is all about simplicity. This is just about the crypto exchange BITmarkets.com. The registration process is as simple as ABC. The registration button is in the header of the website and also in the footer.
Click on the Register button and simply enter general information such as name, password, email and phone number. Basically, nothing new.
After registering you will receive a confirmation link in your email. And voila, you are already a member of the BITMarkets.com trading team.
Social activity and contact
The crypto exchange has fairly active accounts on market-leading social networks such as Facebook, Twitter, Instagram and LinkedIn.
Just click on the network logo and the system will automatically redirect you to the online account of BITmarkets cryptocurrency exchange. Accounts are regularly updated with new information and this also gives a kind of confidence in the reliability of the crypto exchange.
Regarding how you can contact the crypto exchange, there is not much choice. It can only be done by email. No online chats or phone numbers. But on the other hand, if you look on the website under Contacts, you can see that for different kinds of questions you can contact a specific team.
It gives the impression of coherence to the admins. And this lack of chatbots or phone numbers did not affect the fact that the BITMarkets.com crypto exchange won an award at the Crypto Expo 2022 in Dubai in the category “ The Best Crypto Exchange Customer Service”.
You have to agree that such awards are not given out for nothing or for money. There is a lot of hard work and teamwork behind such an award. And this is yet more proof that BITmarkets.com is doing its job right.
Mobile application and payment methods
This trader also has a mobile app and it is very handy. You can easily download it from Appstore or Google Play and it only takes a couple of minutes. The mobile version offers all the features of the full version.
Depositing and withdrawing money in both the mobile and PC versions are very easy. All deposit methods are available, from card payment to any e-wallet payment. The minimum withdrawal is $100, but the minimum deposit is slightly higher at $250. On the other hand, the fees are very low which is a great plus.
But nothing is perfect, so let’s draw a parallel between the advantages and disadvantages of BITmarkets.com:
Advantages of BITmarkets.com
- A large number of crypto variations
- website localisation in 28 languages
- Low fees
- Availability of a large number of payment systems
- Best customer service award 2022
- A large number of customer support mails
- Active social media accounts
- Generous referral programme
Disadvantages of BITmarkets.com
- No online chat rooms or phone numbers for customers
- No demo accounts
- Rather high minimum deposit
As you can see, there are many more advantages than disadvantages of this crypto exchange. We have tried to be as objective as possible in our review and have given a fair assessment of the crypto exchange BITmarkets.com. You can trust the crypto exchange and join the league of its members by setting up a trading account.
Read about other crypto markets and brokers here.