Is Bit.com a scam? Is Bit.com safe and secure? Read my real review and get the full details of the pros, cons, how you can benefit from this crypto platform.
Bit.com is a secure, easy and reliable platform that allows you to buy, sell and trade crypto and crypto derivatives.
Bit.com was established in 2020, which makes it one of the newer exchanges on the market.
But do not let its young age fool you as it has a lot to offer.
As a full-suite crypto exchange, it offers spot, perpetual swaps, futures and options trading of BTC, ETH, and BCH, with a particular highlight being pioneers to launch BCH options.
In fact, in terms of the trading volume, Bit.com is now the world’s 2nd largest crypto options trading platform.
Bit.com is a high performance crypto exchange that’s built with institutional-grade security to serve both newbie and experienced crypto traders…
- Is Bit.com safe for spot and derivative trading?
- Can Bit.com be trusted?
- Are Bit.com fees follow industry standard?
In this article, I’ll answer your most pressing question and everything there is to know about Bit.com.
What is Bit.com?
Bit.com is one of the fastest-growing crypto trading platforms that provides an easy and user-friendly platform for users to trade cryptocurrency seamlessly while leveraging much-needed liquidity.
Bit.com was launched by Singapore-based Matrixport in Aug 2020 and registered in the Seychelles.
Not only you can buy 200+ top cryptocurencies, you can also trade crypto derivatives, including futures and options, perpetual.
- buy, sell and trade 200+ cryptocurrencies
- up to 50x leverage with futures
- up to 10x leverage with options
- Instantly convert one cryptocurrency to another cryptocurrency
- Earn passive income by holding
- and more!
Let’s look at Bit.com in detail.
Key Facts
- Founded: 2020
- Founders: Jihan Wu
- HQ: Seychelles
- Number of Cryptocurrencies: 200+
- Deposit Methods: Cryptocurrency
- Trading Fees: Varies; -0.01% to 0.07% – some of the lowest trading fees
- Withdrawal Fees: 0.0005 BTC or 0.0005 ETH per withdrawal to outside addresses other than Bit.com and Matrixport.
- Financial Services: Perpetual swaps, futures, options, unified margin and spot trading
- Customer Support: Yes, 24/7-365
- Mobile App: Yes, available on Android and iOS
Who can benefit from Bit.com?
Whether you are new or experienced, you can easily use Bit.com to your advantage and create a winning trading plan.
With its easy-to-use and intuitive platforms packed with handy features, it’s best for:
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Cryptocurrency traders, both novice and seasoned
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Long-term holders of Bitcoin
Are you ready to start trading on Bit.com?
Bit.com Promotions
Don’t miss out on these opportunities. Bit.com is currently running a few promotions to reward its users:
- Up to 30% APY on savings for new users
- Spot trading competition: Trade & earn 100 USDT daily
- Blink box campaign: Up to 1 ETH monthly lucky draw, guaranteed rewards!
- Year round carnival: iPad Pro + US$1,000 monthly giveaway
- Rewards Center: Up to US$245 trading coupons
How to Buy Bitcoin with Bit.com
1. Sign up for Bit.com
You can get started with Bit.com in just a few minutes.
Go to Bit.com and sign up for a free account using your email.
2. Verify your email address
You will then receive an email confirmation from Bit.com. Simply follow the instruction to verify your email.
3. Verify your identity
To start trading on Bit.com, you’ll need to complete the Identity Verification by submitting personal documents such as national ID, passport or driver’s license.
The specific verification requirement may differ depending on the country.
Select the verification method, matching your face using the Liveness Detection to complete the verification process.
4. Make your first deposit
Once your account is approved, you can deposit cryptocurrency to your account.
5. Start trading
That’s it. Now you can buy, sell and trade with your Bit.com account.
Every Bit.com account comes with a free built-in wallet which you can use to buy, send and store your Bitcoin. And you can also earn interest on your funds. This is a great way to earn some passive income while letting your crypto assets sit on the wallet.
With that said, you’ll still need a personal wallet for all your long-term Bitcoin and cryptocurrency storage. It’s highly recommended to use a self-hosted Bitcoin hardware wallet like Ledger or Trezor to store your precious coins for long-term.
Check out this list of the top 3 Bitcoin hardware wallets.
Bit.com Features
To help you get the most out of Bit.com, let’s have a look at the most commonly-used features, one by one.
1. Spot Trading
Under the spot trading section, you can find USDT, USD and BTC trading pairs.
There are over 200 tokens to pick from and trade, notably Bitcoin, Ethereum and Bitcoin Cash.
2. Bit.com Instant Convert
Bit.com Convert is the fastest way to trade. Here, you can instantly exchange one crypto to another in just one click -without having to deal with complicated trading chart.
3. Futures Trading
For advanced traders, Bit.com offers up to 50X leverage on futures.
This means that you can borrow 50 times of what you want to invest in a particular future trade.
For example, if you have 100 USD on Bit.com, you can use 50X leverage, and trade as if you had 5,000 USD.
Keep in mind, higher leverage can leads to higher profitability, but the risk will also be higher.
4. Options Trading
Another important feature for experienced traders who want to trade BTC, ETH and BCH options.
BTC, ETH & BCH options are a form of crypto derivative contract that give you (the option owner) the right but not the obligation to buy/sell at a specific price at some point in the future.
With Bit.com, you can take up to 10X leverage on the crypto options.
5. Bit.com Savings
Bit.com just launched a new savings product that rewards users for storing crypto on the platform.
You can now earn interest from popular cryptocurrencies such as Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Chainlink (LINK), Bitcoin Cash (BCH), USD Coin (USDC), and many others.
Take advantage of this highly competitive interest rates. Bit.com are offering 30% APY for new users. No fees and funds are safeguarded by Cactus Custody.
6. Bit.com Mobile Wallet
Bit.com mobile app is also available on iOS and Android.
With this Bitcoin wallet app, you can easily manage your crypto on the go.
You access all the features of Bit.com– buy, sell, trade, exchange, store, send, receive, earn, anywhere you go!
7. Block Trading
Want to buy or sell futures and options in large volumes?
Block trades can help!
With Bit.com acts as a safe intermediary, the block trading features can help you conduct high-volume crypto trade without price slippage.
Bit.com Innovative Product Features
Bit.com is constantly working to expand its features and services. If you’re an experienced trader/investor, here are few smart tools that you should consider using in your crypto investment.
With that said, these features are not suitable for beginners and risk averse investors.
8. Rebalancing market maker strategy (RMM)
Use Rebalancing market maker strategy to automate your investment strategies. RMM is an intelligent tool that will automatically places orders for you. In other words, it will auto rebalance your crypto portfolio (by buying low and selling high) to initial fixed ratio.
Here are some of the benefits of using Rebalancing market maker strategy (RMM):
- Auto buy low, sell high
- Reduce portfolio volatility
- Earn maker fees by providing liquidity to the market
- Customize the number of single-side open orders to capture trading opportunities in highly volatile markets.
9. Bit.com Portfolio Margin
Portfolio margin is a great feature that maximize fund efficiency with an overhaul margin calculation based open positions.
To be qualified for a Portfolio Margin account,
- You’ll need to have cash Balance > 5 BTC
- You must be able to demonstrate experience in trading options and declare your understanding about Portfolio margin.
10. Bit.com Unified Margin
Bit.com Unified Margin (UM) system is an upgraded trading and risk management system. It offers a one-account solution to users by allowing them to utilise all assets in the account as collateral to trade all products.
All currencies in the account will be calculated in USDT value with haircut ratios to provide margins for all positions.
Bit.com Payment Methods
As of writing, Bit.com only accepts cryptocurrencies. Fiat deposit is not supported yet.
Bit.com Minimum Deposit/Withdrawal
- 0.00001 BTC or 0.0005 ETH is the minimum deposit amount; and
- 0.001 BTC or 0.05 ETH is the minimum withdrawal amount.
Bit.com Fees
| Fee structure | Maker | Taker |
| Spot trading | 0.08% to -0.02% | 0.10% to 0.035% |
| Options | 0.02% to 0.00% | 0.05% to 0.02% |
| Futures | 0.02% to -0.02% | 0.05% to 0.035% |
Bit.com Supported Cryptocurrencies
The Bit.com exchange supports more than 200+ tokens. You can find a complete list of them in the trade section of the exchange.
The top listed coins are Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), Ripple (XRP), Polkadot (DOT), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), Chainlink (LINK), Polygon (MATIC), and many others.
Bit.com Supported Countries
Bit.com supports many countries worldwide, and unfortunately, some are not supported due to international and local financial/cryptocurrency regulations.
Bit.com is not available in the following countries:
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- Asia: Afghanistan, Cambodia, China, Democratic People’s Republic of Korea, Iran, Iraq, Lebanon, Myanmar, Pakistan, Syria, Singapore, Yemen.
- America: American Samoa, Barbados, Canada, Guam, Haiti, Panama, Puerto Rico, The Northern Mariana Islands, United States of America, Venezuela, Virgin Islands (U.S.).
- Africa: Democratic Republic of Congo, Guinea Bissau, Libya, Mali, Mozambique, Nicaragua, Somalia, South Sudan,The Republic of Madagascar, The Republic of Uganda, The Islamic Republic of Mauritania, Zimbabwe, Burkina Faso, Burundi, Morocco, Senegal
- Others: Republic of Albania
Is Bit.com Regulated?
Bit.com claims that they operate the exchange in a regulated way, they have different licenses for AML, requirement for KYC, no internal market maker to interfere any trading, and providing good customer support and follow up.
Is Bit.com Exchange Safe?
Bit.com is considered one of the safest places to buy and sell cryptocurrencies and crypto derivatives. They offer top-notch security, risk management and insurance to protect your funds.
Bit.com provides institutional-grade security safeguarded by Cactus Custody (A Qualified Custodian).
The exchange also applies an incremental liquidation mechanism to provide additional user protection during extreme market conditions. This robust risk management system was built by a world-class team of derivatives, risk management, and technical professionals.
Upon launch, the bit.com Insurance Fund had over 200 BTC (one of the largest among new exchanges) to mitigate socialized losses, better protecting your investment.
And Ukey hardware protection is supported.
Bit.com Pros
- Top security and risk management
- API connectivity
- Trustworthy team of developers
- Intuitive, easy-to-use platform
- A wide range of features for novices and experts
- 24/7 365 support
- High leverage
- Awesome promotions to earn rewards
Bit.com Cons
- Not available in the U.S.
- Relatively young company
Conclusion
Bit.com is a reliable platform that offers an extensive suite of easy-to-use and innovative crypto investment products for traders of all levels, young and old, novice and seasoned.
Bit.com is the perfect crypto trading solution, giving you access to crypto and crypto derivatives all in one web-based and mobile platform.
That’s all for now. As Bit.com expands its features and services, I’ll be updating this post regularly with the latest info, so keep coming back to discover more.
I hope this Bit.com review helps you to decide whether Bit.com is right for you.
Are you ready to play the trading game?
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I live and breathe making an income online.
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P.S: This Bitcoin resource is One of – if not the most – comprehensive resources for learning about Bitcoin with over 20 categories ranging from history to buying BTC, setting up a wallet, technical information, mining, security, and trading. Enjoy
