BitMart is a centralized crypto exchange platform that enables its users to experience purchasing, selling, and trading crypto assets. On this platform, you can do staking as well as lending cryptocurrencies to receive rewards and prizes. Currently, there are hundreds of cryptocurrencies available on BitMart along with a huge range of low market cap coins to select from.
As this platform is offering a variety of features and is supporting hundreds of crypto assets, there is a drawback underlying this platform. This exchange platform was hacked by scammers in 2021 and almost 200 million dollars worth of crypto was stolen. The platform showed a great response and pledged to return all the stolen crypto tokens as soon as possible. As per the updates, users are still waiting for the return of their stolen assets. For crypto trading use exchange platforms like BitMart and Bitcoin Era link for the App for safe and secure trading.
Crypto Assets Available On BitMart
As we have mentioned before, the BitMart platform provides its users access to more than 100 cryptocurrencies, which also includes a variety of low market cap coins. Various popular cryptocurrencies are also available on this platform including Bitcoin, Ethereum, Cardano, and many others.
In addition to all this, the users can also get access to less popular crypto coins like Sandbox, Decentraland, Audius, and others. Furthermore, this is not the end as this platform is unceasingly adding new cryptocurrencies to the list every passing day.
BitMart exchange platform not just supports a huge range of crypto assets but also offers its own exchange token, known as BMX. Though it is currently not supporting the crypto coin Ripple XRP as Ripple is going through some serious investigations by the SEC , it still has a wide variety of coins.
Advanced-Level Security
BitMart platform offers its users industry-level advanced security that includes cold storage, two-factor authentication (2FA), and fully encrypted servers. Not only this, but this platform also follows FinCEN KYC standards and requires all its users to verify their identities to assist in protecting BitMart from any sort of fraud or scam on its platform. Below are some of the major and most significant security features offered by BitMart to its users.
Cold Storages
BitMart ensures that 99% of all cryptocurrencies are kept in cold storage vaults. The vaults have no links and are not connected to any type of internet connection. To provide advanced level security, these storages also require various signatures to pass through it.
Two-Factor Verification
If you are looking for a platform with ideal security, BitMart is your go-to platform as it offers two-factor authentication (2FA). The users can set up this method of verification on their own by using google authenticator for securing accounts to protect from fraud logins or other criminal activities.
Confirmation of Withdrawal
When you are going to withdraw funds from your accounts, you will have to verify them. You cannot withdraw funds without confirmation through your phone or email.
Encoded Servers
All servers of BitMart are fully and properly encoded. Also, this platform offers automatic security against all DDOS attacks.
Comparing BitMart to Other Crypto Companies
BitMart is a good option for beginners as well as advanced cryptocurrency traders who are constantly looking for a huge variety of coins and further trading with leverages, all under economical trading charges. BitMart is available in more than 180 countries around the globe. Below is a brief comparison of BitMart vs. Coinbase as Coinbase is a well-recognizable and one of the most popular crypto exchange platforms.
Coinbase is a huge platform, offering more than 150 tradeable crypto assets. On the other hand, BitMart is not as big as Coinbase but still has won by offering hundreds of cryptocurrencies for trading. Both the platforms bring their users safe and protected cold storage and OTC services for recognized and potential investors.
BitMart is created for advanced and recognized traders that are willing to get access to future trading with leverages. Whereas, Coinbase is created for those who are beginners or new investors who want an easy and convenient method for crypto purchasing. In simple words, Coinbase offers simple-to-use applications whereas BitMart brings you advanced features for charting and order types.
Conclusion
Though this platform is an advanced crypto exchange it is not an ideal one. BitMart has received several complaints regarding funds access and withdrawal. This platform also went through a significant hack in late 2021. If we consider it over, it is a decent option for trading less famous and prominent cryptocurrencies.
