Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
Like most modern crypto-exchanges, BitMarket takes advantage of two-factor authentication (2FA) for security purposes. This is always a great start for security purposes. While conducting our research we did not find any instances online of BitMarket being hacked, which is a great sign.
First and foremost, BitMarket’s transaction fees depend on the type of transaction, as well as on the user’s trading volume. BitMarket’s fees are definitely higher than what we are used to seeing at other exchanges. Those who don’t trade in large volumes are charged with 0.45% Taker fee, which is double the size of the what most other companies charge (around 0.20% – 0.25%). The maker fees vary between 0% – 0.15%.
If you are looking for a wealth of coins to trade between then BitMarket may not be the place for you at all. They do a poor job of offering it’s users with a bunch of options. There are only four coins on the platform to choose from: BTC, BCC, BTG, LTC. You can trade in the following pairs: BTC/EUR, BTC/PLN, LTC/PLN, BTC/LTC, BCC/PLN, BTG/PLN. With the amount of requests flooding in from users, BitMarket plans to introduce ETH/EUR and ETH/PLN in the near future.
EASE OF USE
BitMarket’s trading platform is web and app-based and it is super simple to use. It has some of the basic charting tools, however there are no technical analysis tools for the more advanced traders. BitMarket does offer its users leveraged trading, which is pretty out-of-the-norm for a crypto exchanges these days. The maximum leverage ratio at BitMarket is 1 to 4. For those of you who are constantly on the go, BitMarket also offers a pretty intuitive, safe app that can be found on Android or iOS.
BitMarket was created in 2015. They are based out of Poland, but one of their questionable actions was registering the company offshore in the Seychelles. Anytime a company makes a move like that it will always throw up red flags to the general public. But since inception, there hasn’t been anything to worry about as there really hasn’t been any negative press about BitMarket, and they have never been hacked. The platform seems to be very intuitive and simple to use for all types of crypto-traders/investors. The main thing we dislike about BitMarket is the relatively limited digital assets portfolio, and the high taker fees.