Bitmart

Bitmart
Company typePrivate
Founded2017
HeadquartersCayman Islands
Area served
Worldwide (180+ countries)
ProductsTrading platform
ServicesDigital asset trading, peer-to-peer marketplace
Websitebitmart.com

BitMart is a global, centralized cryptocurrency exchange that provides a wide variety of services for trading and investing digital assets. The exchange offers spot trading, margin trading, copy trading and futures trading with leverage, catering both to beginners and experienced traders. BitMart also provides a diverse variety of investment opportunities including staking, savings, dual investment and participation in its exclusive in-house token launchpad.[1][2] BitMart was founded in 2017 by Sheldon Xia, headquartered in the Cayman Islands, and has offices in the United States, China, and South Korea. In March 2018, the exchange went public and was formally registered as a Money Services Business in the United States.[3][4]

BitMart Token (BMX) is the native cryptocurrency of the BitMart exchange, built on the Ethereum blockchain as an ERC-20 token. It was initially launched as BMC in December 2017, but was renamed to BMX during January 2018. BMX serves as a utility token, offering various benefits and functionalities to users within the BitMart ecosystem.[5][6]

History

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BitMart was founded during 2017 by Sheldon Xia, providing buy, sell, and trade tools to individuals and institutions. In 2018, BitMart introduced the BitMart Token (BMX), which offers trading discounts and other benefits to its holders.[7] It also added staking, lending, savings products, and derivatives trading by 2018.[8][9]

In August 2019, BitMart won The BrandLaureate Tech Award.[10]

In December 2021, BitMart experienced a security breach. Approximately $196 million worth of cryptocurrency was stolen in the attack.[11][12][13] Following the incident, BitMart CEO Sheldon Xia pledged to reimburse all affected users and announced enhancing the platform's security measures. In the same month the exchange closed Series B round led by New York private equity firm Alexander Capital Ventures.[14][15][9][16][17]

The platform was named Best Crypto Exchange for Altcoins by Investopedia in June 2024.[18]

Overview

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BitMart is registered in the Cayman Islands and operates in 180+ countries worldwide.[19][20] It has over 1,500 trading pairs and provides tools for buying, selling, and storing cryptocurrency through the web-based digital asset trading and investing platform and a mobile app for Android and iOS.[21] Its services include a peer-to-peer (P2P) marketplace, which connects buyers and sellers with varying exchange rates and payment options.[22][23][24]

The platform includes a marketplace for non-fungible tokens (NFTs), enabling users to buy, sell, and trade these digital assets. BitMart also offers API.

References

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  1. ^ "BitMart Exchange Review (2023): Complete Beginners Guide | Boxmining". boxmining.com. Retrieved 2025-07-14.
  2. ^ "BitMart Review". Investopedia. Retrieved 2025-07-13.
  3. ^ "BitMart Crypto Volume Data | Liquidity Finder". LiquidityFinder. Retrieved 2025-07-14.
  4. ^ "BitMart - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2025-07-14.
  5. ^ "BitMart (BMX)". Cryptohopper. Retrieved 2025-07-13.
  6. ^ "BMC Token Public Sale Announcement". BitMart. Retrieved 2025-07-13.
  7. ^ "بيت مارت ومستقبل العملات المشفرة في الشرق الأوسط". الجزيرة (in Arabic). Retrieved 2025-02-05.
  8. ^ "BitMart Review 2024". CoinMarketCal - Календарь криптоактивов (in Russian). Retrieved 2025-02-05.
  9. ^ a b Chow, Andrew R. (2021-12-07). "Crypto CEOs Head to Congress to Push Back on Looming Regulations. Here's What to Expect". TIME. Retrieved 2025-02-05.
  10. ^ admin (2019-08-15). "TECH ICON AWARDS". The BrandLaureate. Retrieved 2025-03-12.
  11. ^ "آخر أخبار بيت مارت". سكاي نيوز عربية (in Arabic). Retrieved 2025-02-05.
  12. ^ Skiba, Richard (2024-07-26). Cryptocurrency: A Guide to Navigating the World of Digital Assets. After Midnight Publishing. ISBN 978-1-7636112-9-0.
  13. ^ Küfeoğlu, Sinan; Akgün, Abdullah Talip (2023-11-08). Cyber Resilience in Critical Infrastructure. CRC Press. ISBN 978-1-000-98368-5.
  14. ^ Vigna, Paul (2022-10-28). "Two Groups Account for $1 Billion in Cryptocurrency Hacks, New Report Says". Wall Street Journal. Retrieved 2025-02-05.
  15. ^ Sigalos, MacKenzie (2022-01-07). "Iranian immigrant lost $53,000 in crypto hack, says he faces ruin if BitMart doesn't pay him back". CNBC. Retrieved 2025-02-05.
  16. ^ Chow, Andrew R. (2021-12-07). "Crypto CEOs Head to Congress to Push Back on Looming Regulations. Here's What to Expect". TIME. Retrieved 2025-02-05.
  17. ^ CG (2021-12-10). 電腦1週: PCStation Issue 1101 (in Chinese). Creative Games Limited.
  18. ^ "Best Crypto Exchanges and Apps for December 2024". Investopedia. Retrieved 2025-02-05.
  19. ^ "BitMart Review 2024". Investopedia. Retrieved 2025-02-05.
  20. ^ Sigalos, MacKenzie (2022-01-07). "Iranian immigrant lost $53,000 in crypto hack, says he faces ruin if BitMart doesn't pay him back". CNBC. Retrieved 2025-02-05.
  21. ^ "تحليل حول بيت مارت". العربية (in Arabic). Retrieved 2023-10-27.
  22. ^ "BitMart Review 2024". Investopedia. Retrieved 2025-02-05.
  23. ^ "BitMart Rolls Out Euro on P2P Trading Marketplace". Financial and Business News | Finance Magnates. 2024-05-27. Retrieved 2025-02-05.
  24. ^ "Hackers steal $625 million in cryptocurrency from Axie Infinity's Ronin network". The Washington Post. 2022-03-29. Retrieved 2025-02-05.
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