Comparison of Bitmart vs Biking [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitmart vs Biking comparison!

Your expert: Alejandro Borja

bitmart

Bitmart

  • Threenvest valuation: 4,2/5
  • US legal: Yes
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

biking

Biking

  • Threenvest valuation: 3,4/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.09%/0,25%

Earns

Yes

Customer service

3/5
0,10% /0,20%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Reasonable fees with some additional costs for specific services.
3.7 – Competitive fees but some charges for premium features.

Level

0.09%/0,25%
0,10% /0,20%

Brief explanation

BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential costs.
BiKing Exchange employs a competitive fee structure designed to accommodate both casual and high-volume traders. The platform charges a basic trading fee, with discounts available based on trading volume, encouraging active trading. This tiered fee approach ensures that both small-scale traders and large investors can operate efficiently. The fees are structured to be transparent and are clearly communicated on the platform, making it easy for users to understand how much they will be paying per transaction. This setup not only fosters a fair trading environment but also enhances the overall trading experience by minimizing unexpected costs.

Bitmart

bitmart
Read bitmart review
  • Security Methods: BitMart employs comprehensive security measures to protect user assets and data. These include two-factor authentication, advanced encryption technology, and the majority of funds held in cold storage. These stringent security protocols demonstrate BitMart's commitment to maintaining a secure trading environment.
  • Reputation and Reviews: BitMart has built a solid reputation within the crypto community for its robust platform and reliable service. Positive user reviews frequently highlight the platform's user-friendly interface and the wide variety of trading options available, reinforcing its standing in the market.
  • Trading Volume and Liquidity: BitMart handles a significant volume of daily trades, ensuring high liquidity across its various trading pairs. This high trading volume is indicative of a vibrant marketplace that allows users to execute trades efficiently without substantial price slippage.
  • Year Founded: Established in 2017, BitMart has several years of operation under its belt, during which it has continuously evolved and improved its offerings. This longevity in the fast-paced world of cryptocurrency exchanges speaks to its resilience and the trust placed in it by its users.
  • Customer Service: While there have been challenges with response times, BitMart's dedication to improving its customer service is evident. They are actively working to enhance their support mechanisms to provide timely and effective help to their users, which is a critical component of user trust and satisfaction.
  • Pros
  • Extensive cryptocurrency selection.
  • Competitive trading fee structure.
  • Strong security measures implemented.
  • Cons
  • Past security breaches reported.
  • Customer support response delays.

Read bitmart review

Biking

biking
Read bitmart review
  • Security Methods: BiKing Exchange employs robust security protocols, including multi-layer encryption, deep cold storage for funds, and multiple offline signatures for transactions. These measures provide strong safeguards against unauthorized access and loss of funds, establishing a secure trading environment.
  • Year Founded: Since its establishment in 2017, BiKing Exchange has shown consistent growth and stability in the highly volatile crypto market. This longevity is a testament to its adaptability and commitment to serving its users effectively, building trust over time.
  • Reputation and Reviews: The exchange has maintained a positive reputation within the cryptocurrency community. User reviews often highlight the reliability, user-friendly interface, and the responsive customer support provided by BiKing, indicating a high level of satisfaction among its clients.
  • Trading Volume and Liquidity: BiKing Exchange supports significant trading volume and liquidity, ensuring that users can execute trades quickly and at desired prices. This capability is crucial for both casual and serious traders who need to manage their portfolios efficiently and capitalize on market opportunities.
  • Customer Service: The platform provides 24/7 customer support, ensuring that user queries and issues are addressed promptly. This commitment to customer service enhances user trust, as participants know they have continuous support for any issues they might encounter.
  • Pros
  • Robust multi-layer security measures.
  • Professional, world-class technical team.
  • 24/7 responsive customer support.
  • Cons
  • No fiat currency support.
  • Limited cryptocurrency selection.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

GBM Foundation Company
Biking Technology Co., Ltd

Regulation

Not regulated
Not regulated

Year founded

2017
Unknown

Founder

Sheldon Xia
Unknown

Payment methods

Transfers

No
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Bitmart FEATURES Biking
BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
Minimum Trade
BiKing offers a reasonable minimum trade limit, accommodating both small and large traders.
Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Trading and Transaction Fees
The exchange boasts low trading fees at 0.01% for both makers and takers, promoting active trading.
BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Number of Cryptocurrencies
While BiKing supports major cryptocurrencies like Bitcoin and Ethereum, it has a more limited selection compared to larger exchanges.
Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a modest range of crypto-to-crypto trading pairs, sufficient for mainstream traders but less so for those seeking variety.
The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
Website Transparency
BiKing provides clear information about trading fees and security measures but could improve on regulatory disclosures.
BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Credit/Debit Card
Without a dedicated exchange card, users of BiKing Exchange may miss out on the convenience and rewards typically associated with such cards in the cryptocurrency space.
Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
Storage Offering
Utilizes secure cold storage solutions to ensure the safety of user funds against potential threats.
Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Staking and Rewards
Offers staking options and rewards, although the range and returns are somewhat limited compared to competitors.
Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and robust, offering a seamless trading experience.
Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Customer Service
Provides 24/7 customer support with good response times and helpful assistance.
BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though limited by the lack of fiat currency support.

Key features

Analysis tools

Basic charting tools, some advanced features for futures
Unknown

Mobile APP

Yes
No

Security

High 4,9/5
High 4/5

Additional features

Futures trading, staking, lending services, BitMart token (BMX) rewards
Social trading, copy trading, margin trading, futures contracts

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

200+
50+

User-friendliness

BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary features easily accessible.
Biking offers an intuitive platform with a user-friendly interface, ideal for beginners. The platform’s design ensures that users can easily navigate and execute trades without encountering unnecessary complexity.

Value for money

Provides good value for money with low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective option for traders.
Provides reasonable value for money with competitive fees and a user-friendly interface, suitable for both beginners and experienced traders.

Countries of operation

United States, South Korea, Japan, China, Singapore
United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.
Ideal for both new and seasoned traders who want a user-friendly interface and competitive fees.

Base currencies available

USD, BTC, ETH, USDT
CNY, BTC, USDT

Account

Trading

BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.
Biking is a smaller exchange that provides basic trading functionalities. It’s suitable for beginners but may not meet the needs of advanced traders due to its limited tools and lower liquidity.

Deposit and withdrawal

BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.
Biking offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, taking less than a day to complete.
Biking’s account opening process is straightforward, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes
No

Customer Service

BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate assistance.
Biking offers customer support through email and live chat. The response time is generally quick, but the support team is not available 24/7, which may be inconvenient for some users.

Security

BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
Biking offers robust security features, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I’d recommend BiKing Exchange for traders prioritizing security and low transaction fees. It’s particularly well-suited for those dealing primarily in major cryptocurrencies like Bitcoin and Ethereum. While the platform could improve by expanding its cryptocurrency selection and adding fiat currency support, its robust security measures and user-friendly mobile and desktop applications make it a solid choice for both new and experienced traders seeking a reliable trading environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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