BitMart review
BitMart is a centralized cryptocurrency exchange founded in 2017 by Sheldon Xia and headquartered in the Cayman Islands. It lists roughly 1,500 cryptocurrencies across 2,000+ trading pairs, spanning spot, margin and futures trading alongside staking, a P2P marketplace, an NFT marketplace and a token launchpad. BitMart is widely known for a December 2021 hack in which attackers drained an estimated $150-196 million from its Ethereum and Binance Smart Chain hot wallets after compromising a private key; the US Federal Trade Commission opened an investigation in 2022 into the exchange's handling of that breach, which remains unresolved. The global bitmart.com platform carries no major top-tier regulatory license, though a separately licensed BitMart US entity launched in November 2025.
BitMart key facts
- Website: www.bitmart.com
- Category: Centralized cryptocurrency exchange (CEX)
- Founded: 2017 by Sheldon Xia
- Headquarters: Grand Cayman, Cayman Islands
- Regulatory status: No top-tier license on bitmart.com; separate BitMart US entity licensed in 49 states
- Trading fees: Spot 0.1% maker/taker; futures from 0.02%/0.06%
- Supported assets: Roughly 1,500 coins, 2,000+ pairs
- Products: Spot, margin, futures, staking, P2P, NFT marketplace, launchpad
- Notable incident: $196M hack in December 2021; FTC investigation ongoing
- CEO: Sheldon Xia
- FYI Score: 77.7/100 (ranked #28 of the 48 crypto exchanges we track)
Trading fees
- Standard spot trading fee of 0.1% maker/taker, with volume-based tiers offering further reductions for active traders
- Futures fees starting around 0.02% maker and 0.06% taker before volume discounts
- A 25% fee discount is available to traders who pay fees in BitMart's native BMX token
Supported assets & products
- Roughly 1,500 cryptocurrencies across 2,000+ trading pairs, one of the wider listings among mid-tier exchanges
- Spot and margin trading up to 5x, plus futures trading up to 100x leverage
- Staking and Dual Investment yield products
- P2P marketplace, NFT marketplace, token launchpad and copy trading
Security & regulation
- The global bitmart.com platform holds no major top-tier regulatory license and is not authorized by the UK's FCA
- Suffered a major December 2021 hack in which attackers stole an estimated $150-196 million from its Ethereum and Binance Smart Chain hot wallets after compromising a private key
- The US Federal Trade Commission opened an investigation in 2022 into the exchange's handling of that breach, after its operators reportedly resisted information requests; the matter remains unresolved
- A separately licensed BitMart US entity launched in November 2025 with licenses across 49 states, distinct from the main global exchange
Fiat & payments
- Fiat on-ramps via third-party processors including Simplex, MoonPay and Alchemy Pay, plus bank transfer, card, SEPA and SWIFT options in supported regions
- A built-in P2P marketplace for direct fiat-to-crypto trades
- No proof-of-reserves program or third-party deposit insurance disclosed for the main global exchange
Markets
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Who BitMart is for
BitMart may suit traders chasing a wide altcoin selection the majors don't carry, but the 2021 hack, an open FTC investigation, and the absence of proof-of-reserves are real considerations before depositing funds; US users may prefer the newly licensed BitMart US entity instead.
Pros
- Wide altcoin selection, one of the larger listings among mid-tier exchanges at roughly 1,500 coins and 2,000+ pairs
- Broad product range in one account: spot, margin, futures, staking, P2P, NFT marketplace and launchpad
- Competitive standard fees, with a further 25% discount for paying in the BMX token
- A newly launched, separately licensed BitMart US entity offers a more regulated onramp for US users
Cons
- Suffered a major hack in December 2021, losing an estimated $150-196 million from hot wallets after a stolen private key
- The FTC opened an investigation in 2022 into the exchange's handling of that breach, reportedly after its operators resisted information requests; the matter remains unresolved
- The global bitmart.com platform holds no major top-tier regulatory license and is not authorized by the UK's FCA
- No proof-of-reserves program or third-party deposit insurance disclosed for the main exchange
- Third-party reviews describe customer support as slow, with no live chat option
BitMart FAQ
Is BitMart safe?
BitMart suffered a major hack in December 2021, losing an estimated $150-196 million after attackers stole a private key to its Ethereum and Binance Smart Chain hot wallets. The exchange says it has since added cold storage, a bug bounty program and routine security reviews, but it does not publish a proof-of-reserves program or disclose third-party deposit insurance for its main global platform, and the US FTC's investigation into its handling of the 2021 breach remains open.
What happened in the BitMart hack?
On December 4, 2021, hackers used a stolen private key to drain BitMart's Ethereum and Binance Smart Chain hot wallets, taking an estimated $100 million and $96 million respectively, for a combined loss estimated at $150-196 million across roughly 20 different assets. BitMart said it would compensate affected users from its own funds. The US Federal Trade Commission later opened a formal investigation, in 2022, into the exchange's response and disclosures around the breach.
Is BitMart regulated?
BitMart's global bitmart.com platform, run out of the Cayman Islands, holds no major top-tier regulatory license and is not authorized by the UK's FCA. A separate, more heavily regulated entity, BitMart US, launched in November 2025 with licenses across 49 US states and is working toward full coverage including New York.
What are BitMart's trading fees?
Standard spot trading fees are around 0.1% maker/taker, with volume-based tiers reducing this for active traders. Futures fees start near 0.02% maker and 0.06% taker before volume discounts. Traders who settle fees in BitMart's native BMX token receive a 25% discount.
Compare BitMart with other crypto exchanges
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