Bitget vs Bitmart: Which Exchange Offers More & Cheaper?
Jack Moreau
Nov 2023
7 min read
Fact checked
If you're finding it hard to pick between Bitget vs Bitmart for your cryptocurrency trading, worry no more! Our comprehensive research on their features, fees, security, and user experience will make your decision-making process easier. This article will equip you with all the necessary information to choose the best exchange that suits your trading needs.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
In the world of cryptocurrency trading, two platforms have emerged as major players, Bitget and Bitmart. Both platforms offer a wide range of features and services to their users, but how do they compare?
Founded in 2018, Bitget is a relatively new player in the cryptocurrency trading space. Based in Singapore and registered in Seychelles, Bitget has quickly gained a reputation as one of the top five derivatives platforms by trading volume.
Bitget exchange
With over 1000 employees and support for 100s of countries, Bitget has attracted over 20 million users to its platform. The platform is licensed by FinCEN, MSB in the US and Canada, and MAS in Singapore.
Bitget app
Bitmart on the other hand was founded in 2017 by Erte Xia and is based in the Cayman Islands. With over 300 employees and available in 180 countries, Bitmart has attracted over 9 million users to its platform.
BitMart website
Both Bitget and Bitmart offer a wide range of features to their users, including margin trading, futures trading, and spot trading. Bitmart is licensed by FinCEN and offers a staggering 1500 cryptocurrencies for trading.
Bitmart app
Bitget vs Bitmart: Signup & KYC
If you're looking for an exchange that offers a seamless signup process and a straightforward KYC verification process, then Bitget and Bitmart might be the perfect options for you.
Bitget requires KYC verification for all users who want to buy crypto with fiat or deposit fiat, but crypto-to-crypto trading is possible without KYC.
Signing up is easy and can be completed within seconds by entering your email and password and adding the verification code that has been sent to your email.
The KYC verification process takes approximately 10 minutes but can take up to 48 hours when demand is high.
Bitmart also doesn't require KYC for buying, selling and depositing cryptocurrencies like Bitcoin and Ethereum.
However, to gain full access to spot and futures trading, KYC is required. Signing up on Bitmart is also a smooth process and you only need to provide your email and password.
Bitmart signup and KYC
The KYC process requires uploading ID verification and can take up to 24 hours before the verification has been approved.
Overall, both Bitget and Bitmart offer a user-friendly signup process without needlessly shoving KYC down the throats of all users.
Bitget vs Bitmart: Products & Services
When it comes to cryptocurrency exchanges, two popular options are Bitget and Bitmart. Both offer a range of trading services, additional features, and competitive leverage options. Let's take a closer look at what each platform has to offer.
Bitget is known for its user-friendly interface and variety of trading options. Users can access spot trading, futures, margin, and copy trading, as well as staking and earn products.
Bitget trading interface
The platform also offers trading bots and proof of reserves. With an average daily spot trading volume over $390 million and leverage options of up to 125X, Bitget is a solid choice for both experienced and beginner traders.
Bitmart offers similar trading services such as spot trading, futures (USD or crypto as collateral), margin, earn interest, staking, NFTs, and Launchpad.
Bitmart spot trading
Bitmart also boasts an average daily spot trading volume over $550 million and leverage options of up to 125X. However, it falls a bit short in terms of user experience and website design as it can be a bit harder to navigate for beginners.
If you're looking for a comprehensive and engaging overview of trading fees, you've come to the right place. In this review, we'll be comparing the trading fees offered by Bitget and Bitmart. First, let's take a closer look at the fees charged by Bitget.
For spot trading, Bitmart also charges a competitive 0.10% maker fee and a 0.10% taker fee. For futures trading, the maker fee is 0.02% and the taker fee is 0.06%. In other words, both Bitget and Bitmart offer the exact same competitive trading fees for spot and futures trading.
When it comes to the deposit methods offered by Bitget, it's important to note that they do not support fiat deposits.
However, the exchange does offer support for 40 different fiat currencies for buying crypto with credit/debit card.
This means that users can fund their accounts with fiat using their credit or debit card that is linked to their account, making it an easy and convenient deposit method.
Similar to Bitget, Bitmart supports 42 fiat currencies such as USD, EUR, CAD, AUD but does not offer bank deposits as a deposit option.
Instead, they offer instant purchase with credit/debit cards through Moonpay and Simplex with fees ranging from 3.5% to 5%.
These fees are significantly higher than the spot fees offered by both exchanges. As such, we recommend to transfer some stablecoins to these exchanges and then buy crypto on the respective exchange.
Although Bitget does not support fiat withdrawals, they do offer withdrawal options for a range of cryptocurrencies.
You can withdraw Bitcoin for a fee of 0.0005 BTC, Ethereum for a fee of 0.0006 ETH, and Solana for a fee of 0.0074 SOL.
Additionally, you can withdraw USDT (ERC-20) for a fee of 3 USDT. The crypto withdrawal fees take by Bitget are low and competitive to the rest of the market.
Bitmart does not currently offer fiat withdrawals either. You can of of course easily withdraw any cryptocurency available on the exchange.
If you want to withdraw Bitcoin, it will cost you 0.0005 BTC, while Ethereum withdrawals come with a fee of 0.0026 ETH.
For Solana withdrawals, you can expect a fee of 0.05 SOL and for USDT withdrawals, you will be charged 5.4 USDT.
Bitget is a great choice for professional traders who value high leverage rates and advanced trading tools.
On the other hand, Bitmart has a wider range of supported tokens, making it a more attractive option for those who prioritize having access to a diverse range of cryptocurrencies.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
