It is now an entity working under the legal patent name of GBM Foundation Company, Ltd. Although Sheldon Xia founded it, it is not owned by a single person or entity. Rather, it is managed by the members of the board and investors who own a huge chunk of the total exchange of shares.

  • The exchange provides several advanced features to make your crypto journey straightforward and more efficient.
  • By signing up for Bitmart and creating an account, you can win up to USD 500.
  • So, if your account is not KYC verified, then make sure to first verify it before proceeding with crypto deposits.
  • BitMart supports crypto trading in more than 180 countries and services 9 million customers.
  • According to the official Bitmart website, it has an Advanced Risk Control System that utilizes a hybrid model of hot and cold wallet systems with multi-signature technologies.

Once the initial purchase of USDT has settled, users can search SafeMoon or SFM and select the buy option. The USDT tokens will be exchanged for SafeMoon once the user accepts the transaction, and their new holdings will appear in the Assets tab. To stake your crypto holdings, head towards the BitMart Earn section and then tap on Staking to find all Altcoins options that are possible to stake.

How many cryptocurrencies are tradable on BitMart?

In comparison, FTX and Binance rank among the best crypto exchanges, with scores above 8.5 and 9.9, respectively. BitMart is a centralized exchange that began in 2018 and is based out of the Cayman Islands. BitMart supports crypto trading in more than 180 countries and services 9 million customers. BitMart is one of the few larger exchanges that lets users buy SafeMoon. The process will take longer than buying widely available cryptos such as Bitcoin, but it is still relatively simple.

To some extent, its lack of availability on reputable exchanges brings the legitimacy of SafeMoon into question. Consumers should always research crypto before buying, but, for those willing to buy SafeMoon, BitMart is as good an option as any. One of the most efficient ways to buy SafeMoon on BitMart is by directly buying USDT with U.S. dollars or another acceptable currency.

How to Register on BitMart?

In December 2021, it was hacked by anonymous hackers, which resulted in a loss of $200 million in user funds. In 2018, BitMart launched the BitMart Token (BMX), which provides token holders with special trading discounts and numerous other benefits on the exchange. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

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It was a year of ups and downs that allowed the industry to evolve towards an imminent and utilitarian future. Discover, buy, and trade worldwide premium NFT collections easily, and participate in BitMart NFT campaigns. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. BitMart isn’t the first exchange to get hacked, and it almost assuredly improved its security infrastructure in response. What’s more concerning is the lack of security information it provides.

How to transfer from Bitmart to Trust Wallet

The fees shown in the table above are BitMart transaction fees charged to a regular user. The process of buying SHIB, also known as SHIBA Inu, is similar to the process of buying Safemoon. Here instead of searching for SFM pairs, search for SHIB and select the SHIB/USDT pair.

Transfer your purchased cryptocurrencies to your BitMart wallet for safekeeping. Remember to enable any additional security features offered by BitMart, such as two-factor authentication for your wallet. BitMart provides you with the most convenient, fast and professional crypto spot & margin trading services. Bitmart allows you to buy and sell cryptocurrencies using fiat currencies through debit or credit cards, PayPal, payment gateways such as MoonPay or Simplex, etc. To set up a Bitmart account, you must sign up with your email address or phone number and create a strong password.

After registering successfully on BitMart, it will redirect you to the main trading page. BitMart is simple and user-friendly, even for beginner crypto traders. Navigating the exchange is easy and doesn’t require any complex interfaces the little book that still beats the market or leverage trading features. 2024 is a token that resonates with the thrill and potential of the Year of the Dragon. It offers an engaging and vibrant community, united by the belief in the extraordinary possibilities of 2024.