BITmarkets.com – Cryptocurrency Exchange Review
BITmarkets Review: Not a crypto exchange like a crypto exchange. This could probably be said about “BITmarkets” at the outset. Most of the cryptocurrency exchange you meet will offer you a large number of trading opportunities. From stocks to futures or bonds. However, BITmarkets deals exclusively with cryptocurrencies. He is aware of how time moves forward and he certainly does not intend to falter in any way for other colleagues from the industry. And not only that. Due to the specialization in cryptocurrencies and futures, the company BITmarkets intends to become only on the cryptocurrency market not only abroad, but also here in the Czech Republic.
Table of content
- Comparing BITmarkets to the competition
- About BITmarkets
- BITmarkets Token (BTMT) – Information about utility token
- BITmarkets language versions
- What can be traded
- How to start trading
- What are Next Generation Futures?
- BITmarkets website
- BITmarkets Academy – Education directly with the crypto exchange
- Advantages and disadvantages of a crypto exchange
- Final rating of the BITmarkets crypto exchange
Comparing BITmarkets to the competition
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This company entered the market in 2022 and has already managed to collect very prestigious awards. This is “Krypto Expo 2022” in Dubai in the category “Best Crypto Exchange Customer Service”. I consider this to be a very good start indeed. Clients can do business anywhere, but where they really take care of them and provide their clients with the best service, business is much better there.
BITmarkets Token (BTMT) – Information about utility token
BITmarkets Token (BTMT), a native utility token of BITmarkets, was unveiled by Peter Sumer, COO of the exchange, during his interview with Forbes. Designed as a digital asset, BTMT aims to provide users with a wide range of unique benefits and features, including:
- Reduced trading fees
- Early access to special features and projects
- Exclusive content access
- Participation in reward programs, offerings, and airdrops
- VIP personalised support
BTMT will establish an ecosystem for projects looking to launch their own ICO dashboards. Moreover, token holders will have the chance to vote on the selection of investments within the ESG sector that BITmarkets will prioritise in the near future.
Following a successful private sale, which started in March 2023 and generated token sales exceeding one million dollars, registered users now have an exclusive chance to participate in the pre-sale and acquire the tokens at a more favourable price. This provides them with the advantage of early bird valuation before the start of public sale in autumn.
BITmarkets language versions
The company can provide its clients with trading in more than 20 languages. You can very easily switch in the top list. I consider this a great boon and proof that the company is thinking truly globally. In addition to the multitude of languages, it offers a large number of traded cryptocurrencies in particular. And it has more than 80 globally recognized assets.
What can be traded
As mentioned, BITmarkets focuses on the world of cryptocurrencies. He can also trade so-called futures contracts. We will talk about those later in the review. Now let’s focus on what cryptocurrencies have to offer.
In the “markets” tab, we can find all the cryptocurrencies offered by the crypto exchange. From the very well-known ones, such as Bitcoin, TRX or Avalanche, to the lesser-known ones. The cryptocurrency exchange shows us in a clear table what the price of this cryptocurrency is, what changes have taken place in the last 7 days, and also what value these cryptocurrencies are circulating on the capital market. What pleasantly surprised me, however, is the fact that we can click on a detail and learn a great deal of information about this cryptocurrency, its history and development. I have not seen this with another crypto exchange and I definitely rate it as a big positive. Of course, you will immediately find the opportunity to trade here. Buy, but also sell (if you are already a client).
Broker fees may vary and change, and there may be additional fees that are not listed in this review. BITmarkets has lower trading fees compared to its competitors such as Kraken, Coinbase or Poloniex. It has also launched a new rebate system that rewards those who trade in higher volumes. The higher the volume, the lower the fees. The only downside is slightly more expensive withdrawals.
How to start trading
You can start trading very easily before signing up on BITmarkets.com. Logging in is really easy – you just enter your first name, last name, email, phone number and you can register. For some potential clients, it would be convenient to include a demo account, which unfortunately I could not find on the company’s website. Clients who are just starting out, are not sure or are choosing very carefully which cryptocurrency exchange they will let into their financial life, would certainly appreciate a small demo account.
I would like to mention the fees in this section. The company mentions on the homepage of www.bitmarkets.com that they have the lowest fees. Specifically, they talk about the fact that they are not there to charge excessive fees, but to supervise their clients’ trades and of course to support them, if not to lead to better results and mainly to earnings. Unfortunately, I did not find any specific tariff on the company’s website.
What are Next Generation Futures?
In this review, I would also like to focus on so-called futures contracts. If we trade futures, we are not trading the cryptocurrency itself. A futures contract is a standardized agreement to buy or sell a cryptocurrency at a certain price on a predetermined date in the future. Practically speaking, this provides us with hedging options against exposing your crypto to unexpected volatility in the spot markets, which can fluctuate in any way over time. When using the leverage effect, we can benefit from minor market fluctuations in futures. We can de facto maximize our returns.
BITmarkets trading offer
BITmarkets offers next-generation futures trading. Some of you may be hearing this for the first time. At the same time, it is a very simple and yet effective idea. With futures, we always trade only one asset. Futures of the next generation, or futures 2.0, we can use the advantages of margin and multi-asset trading. We record margin and settle your position in any fiat type or cryptocurrency.
So here it really cannot happen to us that we are in any way limited in our business activities and strategies. I definitely rate this very positively and think that this is clearly a large domain of this crypto exchange.
I would like to write more about the company’s website. If we visit www.bitmarkets.com, we need to select the language we will use. The English language is automatically set, but you can choose from about 20 possible languages, from English, Czech, German… to Vietnamese or Portuguese. So it can be seen that the diversity of the company is great. In the same tab, there is also the option to select the currency in which we will trade. You can choose from USD or EUR.
The main page with the current offer of cryptocurrencies
What I really appreciate is the main page of BITmarkets. As soon as the website is opened, the cryptos with which we can trade are displayed and constantly changing. So we immediately see what changes are taking place at individual stores and how much it costs to purchase a unit. There is also an opportunity to view individual markets and start trading immediately. Simple and fast.
Read more reviews here.
Cryptocurrency exchange app for Android and iOS
It is necessary to stay on the main page of the company, and below we will learn that the company is working on an application for apple and android, so that each client can trade in real time and so he does not miss any trade.
If we still don’t have enough information, below we will learn why we should actually work with BITmarkets. I really liked this part. For example, they draw attention to the fact that they are engaged in so-called spot trading or, for example, offer their clients a referral program. Let’s present in points the reasons why you should actually choose BITmarkets among other crypto exchanges.
- SPOT TRADING – trading with instant settlement, smooth trading with an all-in-one order book for higher liquidity, lower spreads, and a wider variety of trading pairs
- UNIQUE FUTURES OPTIONS – BITmarkets futures 2.0 revolutionize bitcoin futures trading
- 80 + CRYPTOCURRENCY – the company is serious about diversifying. The options are truly endless
- REFERRAL PROGRAM – if he brings friends, it means more and more benefits for you in trading. We are talking here about the commission from their trades.
- 24/7 SUPPORT – a wonderful system of constant support in more than 20 languages. (hats off – most brokers really can’t do this)
- LIGHTNING FAST TRANSACTIONS – can process more than a million requests in one second. This is very important indeed. Because if we decide to trade, we want to do it at the moment when it is most advantageous for us and there is absolutely nothing to wait for. In a few seconds, your store might no longer be so profitable.
The company website is simple. Everything you need to find is in the top bar.
BITmarkets Academy – Education directly with the crypto exchange
One of the worse tabs on the company’s website is the “academy” tab. If we click on the rollbox, we find what we are looking for. Whether we are a beginner or advanced, we will find something for you.
Under the terms “crypto for beginners” and “crypto for advanced” we find tutorials that we can look at and learn the important information we are looking for. Unfortunately, this is not yet available in the Czech language, but we can view them in English.
Another part that under the “academy” tab is CRYPTOMEDIA. Here we can find all the cryptocurrencies that the company trades in very clearly. They can be simply clicked and here comes another positive news and a big surprise for me. Not only will we learn how much the unit costs, how it moves on the market, but we can also read information about the crypt, its history and what it actually means. For clients who are looking for profit behind trading, but also have it as a hobby, this really is the RIGHT one.
The last part of the “academy” tab is a glossary of terms. I rate again very positively. This is especially important for clients who are starting out. Unfortunately, even this part is still only in English, but the company says that it is working on translating it into other languages. So we will look forward to it.
Advantages and disadvantages of a crypto exchange
- A young and progressive company
- Best Customer Service – Dubai 2022 Crypto Award
- He can trade in more than 20 world languages
- It trades in both USD and EUR
- It can trade more than 80 cryptocurrencies
- Creating an account with BITmarkets is very simple and quick
- Low fees (they are not here to charge fees but to help their clients make the most profits)
- They use futures of the new generation – or futures 2.0
- The company’s website is very simple and interactive – all in one place
- An incredible amount of information about individual crypts (history, development, information)
- Lightning-fast transactions – can trade up to a million transactions in one second
- Academy (basic concepts and information for both beginners and advanced clients)
- Lack of information about the company on the website www.bitmarkets.cz
- Missing demo version for potential clients
- The academy is only in English so far
- A potential client does not have the opportunity to find out how much trading will cost him and what it might look like in reality. He has to open an account and only then will he enter the world of BITmarkets.
- Fees are not published anywhere. It might help the client to see in black and white what they will pay
Final rating of the BITmarkets crypto exchange
In conclusion, we can say that BITmarkets is a young and progressive cryptocurrency exchange that definitely has a lot to offer its clients. Above all, the possibility of diversification can be a big attraction for many potential clients. The website still needs to be worked on and prepared for the Czech part of clients, but let’s definitely give this crypto exchange a chance.