How To Get Started With The BitMart Exchange?

Discover how to use the BitMart exchange for seamless trading, earning opportunities, and more!

Key Highlights:

• Extensive Trading Options: Access 1,400+ spot trading pairs and 100+ futures contracts on BitMart.
• Diverse Features: Enjoy spot, margin, futures, copy trading, and earning tools such as staking, savings, referral bonuses, and more.
• Flexible Accessibility: Use BitMart on desktop or mobile, or integrate it with external platforms via APIs for enhanced functionality.

Are you considering BitMart but unsure how to begin? Don’t worry—I’ve explored every feature and compiled a simple, step-by-step guide to help you easily navigate the platform.

From account setup to utilizing key features, this guide has everything you need.

Let’s dive into BitMart and unlock its potential together!

Table of Contents

1. Essential Information Before Using BitMart
   1.1. Is BitMart Accessible in the USA?
   1.2. Does BitMart Require Identity Verification (KYC)?
   1.3. How Competitive Are BitMart’s Fees?
2. Getting Started with BitMart
   2.1. Steps to Create an Account
   2.2. Completing KYC Verification
   2.3. Buying Cryptocurrency on BitMart
   2.4. Depositing and Withdrawing Crypto on BitMart
3. Trading on the BitMart Platform
   3.1. An Overview of Spot and Margin Trading
   3.2. Exploring Futures Trading Options
4. How to Earn with BitMart
5. Final Thoughts and Key Takeaways

1. Essential Information Before Using BitMart

If you’re eager to dive straight into using the BitMart exchange, feel free to skip ahead. However, it’s essential to understand a few key aspects before getting started: BitMart’s availability in different regions, its KYC (Know Your Customer) requirements, and the associated fees. Let’s take a closer look at some of the most frequently asked questions about these topics.

1.1 Is BitMart Accessible in the USA?

Yes, BitMart is available to users in the USA, but with notable restrictions. While new USA-based users are not currently accepted, existing account holders can still access informational resources and participate in limited spot trading. However, this “limited” access means not all trading pairs available globally are accessible to users in the USA.

Other features, such as staking, savings, and futures trading, are unavailable to USA-based traders. This is due to stringent cryptocurrency regulations in the country, which makes BitMart’s limited availability a significant advantage compared to platforms that do not operate in the USA at all.

Globally, BitMart operates in over 180 markets, making it a widely accessible platform. However, certain regions are restricted, including Afghanistan, Belarus, Burma, China (Mainland), Crimea, Cuba, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, the State of New York, and areas like the Donetsk People’s Republic (DNR) and Luhansk People’s Republic (LNR).

These restrictions highlight the platform’s effort to comply with local and international regulations while maintaining a global presence.

1.2 Does BitMart Require Identity Verification (KYC)?

Yes, BitMart requires users to complete KYC (Know Your Customer) verification. There are two levels of verification: Starter and Advanced, each offering different access levels, daily withdrawal limits, and service availability based on the verification provided.

In addition to personal KYC, BitMart also offers specialized professional services for institutional users, who must also undergo a more extensive verification process. Institutional users cannot access any features until this process is completed.

For institutional verification, the following documents and details are required:

• A due diligence questionnaire
• Corporate board resolution
• Anti-money laundering (AML) questionnaire
• Corporate formation documents
• ID proof for authorized account signers
• ID proof for beneficial owners

It’s important to note that institutional verification can only be submitted once per entity, so accuracy is critical.

Wondering if you can use BitMart without completing KYC? While you won’t be able to trade or use its earning features, you can create an account and explore the platform. This feature is particularly useful as it allows you to familiarize yourself with the exchange before committing to the verification process.

Unlike some exchanges that mandate KYC immediately upon signup, BitMart allows you to look around before deciding to proceed. However, if you wish to fully utilize the platform, completing the verification process is inevitable. Detailed instructions for passing KYC are covered in the next section.

1.3 How Competitive Are BitMart’s Fees?

BitMart’s fees are designed to remain competitive across various trading and transaction options. Here’s a breakdown:

• Futures Trading: BitMart charges a standard 0.02% maker fee and 0.06% taker fee, consistent with industry averages.
• Margin Trading: Fees depend on the asset being traded, with both the initial interest rate and hourly rollover rate remaining the same. For instance, the margin trading fee for Ethereum is 0.002291%, a common rate on the platform.
• Withdrawal Fees: Withdrawal fees vary depending on the cryptocurrency and network used. There’s also a minimum withdrawal limit. For example, withdrawing Bitcoin on the BTC network requires a minimum of 0.00105 BTC, with a fee of 0.001 BTC.
• Deposit Fees: Deposits are usually free. However, some niche assets may incur a fee of 1-2%.
• Spot Trading Fees: These fees are determined by your trading role (maker or taker), trading volume, BMX token balance, and the trading pair’s classification. Trading pairs are divided into four categories:
  • Class A: Most popular, with fees starting at 0.1%.
  • Class B: Moderately popular, with fees of 0.25%.
  • Class C: Less commonly traded, with fees of 0.4%.
  • Class D: Niche assets, with the highest fees at 0.6%.

Tips to Reduce Fees

• Increase Activity: Boosting your trading volume, holding more BMX tokens, or maintaining a higher account balance can qualify you for lower fees.
• Use BMX Tokens: Paying spot trading fees with BitMart’s native BMX token grants a 25% discount, significantly reducing costs. For example, Class D fees can drop to as low as 0.165% for makers and 0.18% for takers.

BitMart’s fees are particularly competitive for popular trading pairs and futures. For niche pairs, the costs can be higher, but strategies like using BMX tokens and maintaining high trading volumes can help minimize expenses. This fee structure ensures flexibility and fairness, catering to both casual users and active traders.

2. Getting Started with BitMart

With all the essential information at hand, let’s dive into a step-by-step guide on using the BitMart exchange. Before proceeding, ensure you’re familiar with key aspects like withdrawal fees, geographical availability, and KYC requirements.

BitMart is accessible through both desktop and mobile platforms, offering flexibility for users. Additionally, it supports API integration, allowing you to connect it with other tools and platforms. This guide focuses on the desktop interface, but once you master the desktop version, navigating the mobile app will be just as straightforward.

2.1 Steps to Create an Account

Getting started on BitMart is straightforward and user-friendly. Here’s a step-by-step guide:

Step 1: Visit the BitMart homepage and click on [Get Started].

Step 2: A registration form will appear. Fill in the required details and click [Sign Up].

Step 3: Verify your account using the email or phone number you provided during registration.

Once you’ve completed these steps, your account is ready! To enhance security, it’s recommended to enable two-factor authentication (2FA) via your phone or Google Authenticator. You can also set up an anti-phishing code for added protection.

2.2. Completing KYC Verification

Completing KYC on BitMart is simple and essential to access the platform’s features. The process starts with the Starter level, which is quick and easy. Here’s how you can complete it:

Starter KYC Level

Step 1: Log in to your account and navigate to the [Verification] tab.

Step 2: Click [Verify Now] to begin the process.

Step 3: Enter the required details, including:

• Country of residence
• Full name
• Date of birth

Make sure the information matches your government-issued ID, as this will be needed for advanced verification later.

Step 4: Once all details are filled in, click [Confirm]. If you only need the Starter level, you’re done!

Why Starter KYC Stands Out

Unlike many exchanges that require ID and proof of address upfront, BitMart makes it easy to get started. The Starter level is quick to complete, allowing you to explore the platform with minimal hassle.

Advanced KYC Level

For users who want additional benefits, such as higher withdrawal limits and access to advanced features, completing the Advanced level is the next step. This process requires:

• A government-issued ID
• A selfie for identity verification

No proof of address is needed, keeping things straightforward while unlocking more features.

By completing KYC, you’ll gain full access to BitMart’s tools and capabilities. Get started today to make the most of the platform!

Upgrading to the Advanced KYC level on BitMart is a simple process that unlocks additional features and benefits. Follow these steps to complete it:

Step 1: Go to the [Verification] tab in your account, just like you did for the Starter level. This time, click [Verify Now] next to the Advanced level option.

Step 2: A window will appear detailing the features you’ll gain access to with Advanced verification. Click [Verify Now] again to proceed.

Step 3: BitMart uses a third-party service for Advanced verification. A QR code will be displayed on your screen. Scan this code with your phone to continue the process.

Step 4: The QR code will direct you to Jumio, a secure identity verification service. Here, upload a government-issued ID and take a selfie to confirm your identity.

Step 5: Once the verification is complete on Jumio, return to BitMart and click the [I have completed this on my phone] button to finalize the process.

That’s it! BitMart’s Advanced KYC process is designed to be quick and user-friendly, ensuring you can unlock enhanced features with minimal hassle.

2.3. Buying Cryptocurrency on BitMart

Once your account is verified, it’s time to add some crypto to your wallet so you can start trading or using BitMart’s earning features. If you don’t already own cryptocurrency, the easiest way to get started is with BitMart’s “Buy & Sell” tool.

This tool provides two buying options: P2P Trading and Third-Party Payment.

• P2P Trading: This option lets you buy or sell crypto directly from other users, but the selection of supported cryptocurrencies is somewhat limited.
• Third-Party Payment: This method allows you to buy crypto quickly using fiat currency through external payment channels. BitMart supports over 300 payment providers, offering plenty of flexibility depending on your location.

Here’s how to buy crypto using the Third-Party Payment option:

How to Buy Crypto on BitMart via Third-Party Payment

Step 1: Hover over the [Buy & Sell] button located at the top-right corner of the screen, and select [Third-Party Payment].

Step 2: Choose the cryptocurrency you want to buy, the fiat currency you’ll use to pay, and the amount. Once selected, click [Buy BTC] (or your chosen asset). Keep in mind that each asset has a minimum purchase limit. For example, Bitcoin requires a minimum purchase of $20.

Step 3: Select your preferred payment provider. For instance, you can use Legend Trading with a credit card like MasterCard. Before finalizing the payment, BitMart will display a summary of your purchase for review.

Step 4: After reviewing the summary, proceed to the payment provider’s interface. The entire process is integrated into BitMart, so you won’t need to leave the platform.

Step 5: Enter the required payment details in the provider’s plug-in and complete your transaction. Once the payment is processed, the purchased cryptocurrency will appear in your BitMart account. The speed of the transaction depends on the payment method you select.

Using BitMart’s Third-Party Payment feature is a fast and convenient way to start building your crypto portfolio. With numerous payment channels to choose from, it’s simple to find an option that works best for you!

2.4. Depositing and Withdrawing Crypto on BitMart

If you already own cryptocurrency in another wallet or exchange and want to move it to BitMart, depositing is your next step. Similarly, withdrawing crypto from BitMart to an external wallet is a straightforward process. Here’s how to do both:

How to Deposit Crypto to BitMart

Step 1: Hover over your account icon and click on [Deposit].

 Step 2: Choose the cryptocurrency you want to deposit.

Step 3: Select the network for the deposit. Keep in mind that different networks may have varying fees. Once you’ve chosen, a deposit address will be generated.

Step 4: Copy the generated deposit address and paste it into the wallet from which you’re sending the crypto. Double-check that you’ve selected the correct network and entered the address accurately. Alternatively, you can use the provided QR code to complete the deposit.

How to Withdraw Crypto from BitMart

Step 1: Click on [Withdraw], which is located next to the [Deposit] button.

Step 2: Select the cryptocurrency you wish to withdraw.

Step 3: Choose the network for the withdrawal, and a withdrawal address will be displayed (along with a QR code). Copy this address and paste it into the destination wallet or exchange where you want to send your funds.

Helpful Tips

• Check Fees: BitMart’s withdrawal fees vary by cryptocurrency and network. Checking the fee structure on the BitMart website beforehand can help you choose the most cost-efficient option.
• Security Considerations: For long-term storage or enhanced security, consider transferring your crypto to a cold wallet like Ledger Nano X or Trezor.

Once these steps are completed, your crypto will be deposited to or withdrawn from BitMart. Whether you’re transferring funds for trading or safekeeping, the process is designed to be user-friendly and efficient.

3. Trading on the BitMart Platform

So, you’ve signed up, completed KYC, and have crypto in your account—does that mean you fully understand how to use BitMart? Well, not quite yet. The real experience comes when you explore its trading features. BitMart provides a wide range of trading options suitable for all skill levels:

• Spot Trading
• Margin Trading
• Futures Trading
• Copy Trading
• NFT Trading

No matter your expertise, there’s something for everyone on BitMart. Below, we’ll focus on step-by-step guides for spot, margin, and futures trading.

What About Copy Trading?

As the name implies, copy trading lets you replicate the trading strategies of experienced traders. It’s a straightforward process, so you likely won’t need much guidance. However, do approach with caution—your funds will be tied to another trader’s decisions, so choose wisely.

NFT Trading

BitMart also features an NFT marketplace, where you can buy and sell NFTs. The process is intuitive, and if you encounter any challenges, BitMart’s 24/7 customer support and detailed tutorials (available on the BitMart Academy) have you covered.

Now, let’s dive into the specifics of how to trade on BitMart! Whether you’re trading crypto pairs, leveraging margin, or diving into futures, this guide will get you started.

3.1. An Overview of Spot and Margin Trading

Spot trading is the simplest and most common way to trade cryptocurrency. On BitMart, the spot market features over 1,400 trading pairs, offering plenty of options. However, depending on your location (e.g., the USA), some trading pairs may be restricted.

For beginners, the trading interface might seem overwhelming at first glance, but don’t worry—it’s more intuitive than it looks. Let’s break it down step-by-step:

How to Use the Spot Trading Interface on BitMart

Step 1: Navigate to [Trade] on the navigation bar and select [Spot].

 Step 2: In the top-left corner, select your desired trading pair. Simply click on the pair to view all available options. For this example, let’s choose BTC/USDT.

Step 3: On the right-hand side of the screen, choose the type of order you want to execute. You can select from:

• Limit Order
• Market Order (used here for its simplicity, as it offers the best available price)
• Trigger Order

Step 4: Specify whether you want to buy or sell. Enter the amount and click [Buy BTC] (or Sell, depending on your goal). That’s it—your spot trade is complete!

Margin Trading on BitMart

If you’re looking to maximize your trading power, margin trading lets you borrow funds to trade more than your current balance. With up to 5x leverage, you can amplify your potential gains. However, higher leverage also increases risk, so trade carefully.

Types of Margin Supported:

• Isolated Margin (currently available): Risk is limited to the specific trade.
• Cross Margin (coming soon): Risk is spread across all positions, using the total margin balance as collateral.

With spot trading, you can keep it simple and direct, while margin trading offers opportunities to maximize profits for experienced traders willing to manage the risks. Whatever your strategy, BitMart’s trading interface is built to accommodate all levels of expertise!

How to Use BitMart’s Margin Trading Interface

Margin trading on BitMart allows you to trade with leverage, increasing your potential gains (or losses). Follow these steps to get started with margin trading:

Step 1: Access Margin Trading

• Navigate to the [Margin] option in the spot trading interface, or hover over [Trade] in the navigation bar and select [Margin].

Step 2: Select Your Trading Pair

• In the top-left corner of the screen, choose the trading pair you want to trade. For this example, let’s stick with BTC/USDT.

Step 3: Transfer Funds to Your Margin Account

• Before placing a trade, you need to transfer funds from your spot account to your margin account.

• Click the small circle next to your available balance, select the asset and amount you want to transfer and hit [Confirm]. If you haven’t deposited or purchased crypto yet, refer to the earlier guide on buying crypto on BitMart.

Step 4: Select Your Order and Margin Type

• Choose the type of order you’d like to place:
  • Limit Order
  • Market Order (used here for its simplicity)
  • Advanced Limit Order
• Next, select the margin type:
  • Normal: Standard margin trading.
  • Borrow: Borrow funds to increase your position size.
  • Repay: Repay borrowed funds after closing a trade.
• Hover over the [i] icon for detailed explanations of each option.

Step 5: Place Your Trade

• Decide whether to buy or sell, enter the amount, and click [Buy BTC] (or Sell, depending on your position).

This is a simplified overview of margin trading on BitMart. For more in-depth insights and advanced strategies, check out the tutorials provided by BitMart. Margin trading can amplify profits, but it also comes with higher risks, so trade responsibly.

3.2. Exploring Futures Trading Options

BitMart’s futures trading platform provides access to over 100 USDT- and coin-marginated futures contracts with leverage options of up to 100x, enabling traders to amplify their positions.

With cutting-edge technology, BitMart ensures a seamless trading experience, boasting latency of less than 5 milliseconds and a matching engine capable of processing up to 100,000 orders per second.

How to Use BitMart’s Futures Trading Interface

Step 1: Access the Futures Market

• Hover over [Futures] in the navigation bar and select the type of contract you want to trade. For this guide, let’s go with USDⓈ-M, which involves contracts paired with stablecoins (like USDT) and volatile assets (like BTC).

• Upon entering, review the risk disclosure notice and accept it to proceed.

Step 2: Transfer Funds to Your Futures Account

• Just like margin trading, you’ll need to transfer funds from your spot account to your futures account.
• Click the small circle next to your available balance, select the asset and amount to transfer, and click [Confirm].

Step 3: Select a Futures Contract

• Choose the contract you wish to trade. For this example, let’s select BTCUSDT.

Step 4: Adjust Leverage and Margin Mode

• Click on [Isolated 5x] (or the default leverage setting) to adjust your leverage and margin mode. You can select between:
  • Isolated Margin: Limits risk to the margin allocated for a single position.
  • Cross Margin: Shares margin across all open positions, reducing the chance of liquidation.
• Leverage can be adjusted up to 100x, depending on your risk appetite and trading strategy.

Step 5: Configure Trading Units

• Choose your trading unit (e.g., BTC or USDT) and input the desired price and quantity.

Step 6: Select an Order Type

• Choose from three order types:

Step 7: Open a Position

• Decide whether to go long (betting on a price increase) or short (betting on a price decrease). Once opened, your position will appear in the positions section at the bottom of the interface, along with details about previous trades.

Step 8: Close a Position

• Enter the price and quantity for closing the position, and select whether to close long or close short.

For more detailed guidance on futures trading or specific strategies, explore the comprehensive tutorials available on BitMart Academy. Futures trading involves high risk, especially with leverage, so trade responsibly and ensure you understand the mechanics before diving in.

4. How to Earn with BitMart

Beyond trading, BitMart offers a variety of ways to earn passive income through its platform. Here are some of the key earning opportunities you can explore:

BitMart Earn

BitMart Earn allows you to grow your crypto holdings through multiple options, including:

• Staking
• Savings
• Dual Investment
• VIP Wealth Management
• ETH 2.0 Staking

These features support various cryptocurrencies with competitive APYs ranging from 0.3% to over 171.55%, depending on the asset and method you choose.

How to Use BitMart Staking

Step 1: Hover over [Earn] on the navigation bar and click on [Staking].

Step 2: Select the cryptocurrency you want to stake. Each option will display key details such as the minimum staking amount, APY, and staking duration. For example, if you select ETH, you might see an APY of 4.50% + 4.50%, where the extra +4.50% refers to a limited-time bonus, such as futures rebate cards.

Step 3: Enter the amount you wish to stake, agree to the User Agreement, and click [Stake].

Staking on BitMart is straightforward, but make sure you already have the asset you want to stake in your account. If not, refer to the earlier guide on buying crypto.

Rewards Hub

The Rewards Hub is another way to earn on BitMart. Here, you can complete simple tasks like signing up, inviting friends, or participating in trading activities to earn rewards. Prizes vary by task and can include spot and futures trading fee vouchers, with some tasks offering rewards of up to $500. Keep in mind that these bonuses expire after three months.

Referral Program

BitMart’s Referral Program lets you earn a 30% commission on your friends’ trading fees when they sign up using your referral link. You can also earn an additional 10% commission from the trading activity of their referrals. However, commissions are limited to one year, so staying active with new referrals ensures a steady stream of rewards.

Promotions and Events

BitMart frequently hosts promotions, such as staking bonuses and trading competitions, which offer even more earning opportunities. Staying updated on these events can help you maximize your potential income.

NFT and Crypto Launchpad

In addition to trading and earning, BitMart also offers an NFT and crypto asset Launchpad, providing users access to new and exciting projects.

BitMart’s diverse earning tools make it an excellent platform for growing your crypto portfolio. Whether through staking, rewards, or referrals, there are plenty of ways to benefit from your engagement on the platform.

5. Final Thoughts and Key Takeaways

Congratulations! You’re now equipped with all the essential information to navigate and utilize the BitMart exchange. As you’ve likely noticed, the platform is designed with user-friendliness in mind, making it accessible for both beginners and experienced traders alike.

While the interface is intuitive, you may encounter challenges with advanced trading strategies. If that happens, don’t worry—resources like BitMart Academy and in-depth tutorials are readily available to guide you. They’re particularly helpful for exploring features we didn’t dive into here, such as the BitMart Launchpad.

With these tools and resources at your fingertips, you’re ready to embark on your BitMart trading journey.