Comparison of Bitmart vs Bitbuy [ 2024 ]

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

bitbuy

Bitbuy

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.09%/0,25%

Earns

Yes

Customer service

3/5
0.20%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

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 – Reasonable fees but slightly higher for fiat transactions.

Level

0.09%/0,25%
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.
Bitbuy’s commission structure is designed to be transparent and competitive within the Canadian market. The exchange typically charges a 0.1% fee for makers, who add liquidity to the market, and a slightly higher fee for takers, who remove liquidity. This fee structure is beneficial for both high-volume traders and occasional users, ensuring that costs are kept reasonable without compromising the quality of service. Additional charges include withdrawal fees, which vary depending on the cryptocurrency, and minimal to no deposit fees, emphasizing Bitbuy’s commitment to providing a cost-effective trading environment for its users.

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

Bitbuy

bitbuy
Read bitmart review
  • Security Methods: Bitbuy prioritizes the security of its users with robust measures including SSL encryption, two-factor authentication (2FA), and compliance with PCI DSS standards. This commitment to security ensures that users' funds and personal information are well protected against unauthorized access and cyber threats.
  • Possible Regulation: Bitbuy operates with full compliance with Canadian financial regulations. Being a registered Money Service Business (MSB) under FINTRAC, it adheres to the legal requirements set forth for financial platforms, enhancing its reliability and trustworthiness.
  • Reputation and Reviews: Bitbuy has built a strong reputation within the Canadian crypto community and beyond. It consistently receives positive reviews from users, particularly praising its user-friendly interface and responsive customer service, underscoring its standing as a trusted platform in the market.
  • Transparency: The exchange is known for its transparent operations, providing clear information about its fees, processes, and operations. This transparency builds trust among users, ensuring they feel informed and confident in their trading decisions on the platform.
  • Customer Service: Bitbuy offers excellent customer service, with a dedicated support team available to address and resolve users’ issues promptly. This focus on customer satisfaction is crucial for building long-term trust and ensuring that users have a reliable resource for any inquiries or problems they might encounter.
  • Pros
  • Strong regulatory compliance in Canada.
  • User-friendly interface for beginners.
  • Robust, effective security measures.
  • Cons
  • Relatively high trading fees.
  • Limited selection of cryptocurrencies.

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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
First Ledger Corporation

Regulation

Not regulated
Regulated by FINTRAC en Canadá

Year founded

2017
2016

Founder

Sheldon Xia
Adam Goldman

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Bitmart FEATURES Bitbuy
BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
Minimum Trade
The minimum trade amount is reasonably low, making it accessible for beginners.
Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Trading and Transaction Fees
Fees are relatively high compared to competitors, which could deter frequent traders.
BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Number of Cryptocurrencies
Bitbuy offers a selection of the most popular cryptocurrencies but lacks a wide variety of altcoins.
Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Limited to major cryptocurrencies, lacking diversity in trading pairs.
The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
Website Transparency
The website provides clear, easily accessible information on fees, policies, and trading options.
BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Credit/Debit Card
Bitbuy lacks an exchange card, limiting its utility for in-store purchases and additional benefits.
Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
Storage Offering
Provides secure cold storage options, ensuring safety for digital assets.
Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Staking and Rewards
Offers some staking options and rewards, though not as extensive as some other platforms.
Both mobile and desktop platforms are highly user-friendly and feature-rich, providing a seamless trading experience.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and well-designed.
Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Customer Service
Excellent customer service with quick response times and helpful support staff.
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 some limitations apply to methods and currencies.

Key features

Analysis tools

Basic charting tools, some advanced features for futures
Basic charting tools

Mobile APP

Yes
No

Security

High 4,9/5
High 4,6/5

Additional features

Futures trading, staking, lending services, BitMart token (BMX) rewards
OTC trading, express trade option, institutional services, cold storage solutions

Anonymity

Yes
No

Key points

Available cryptocurrencies

200+
15+

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.
Bitbuy offers a clean and intuitive platform that is easy to navigate, making it suitable for beginners. The exchange provides helpful guides and customer support to assist new users in their trading journey.

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.
Delivers decent value for money with competitive fees and strong security features, suitable for Canadian users looking for a reliable exchange.

Countries of operation

United States, South Korea, Japan, China, Singapore
Canada

Best for

Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.
Best for Canadian investors seeking a reliable and secure exchange with competitive fees and strong customer support.

Base currencies available

USD, BTC, ETH, USDT
CAD, BTC

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.
Bitbuy is a Canadian exchange known for its high security and ease of use. It offers a decent selection of cryptocurrencies but has higher fees compared to some other global exchanges.

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.
Bitbuy provides easy fiat and cryptocurrency deposit methods. Withdrawals are processed within a day. Fees are slightly higher than some global exchanges but reasonable.

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.
Bitbuy offers a simple and user-friendly account opening process. Users need to fill out personal information, verify their identity, and typically, the account is approved within a day. It’s secure and efficient.

KYC required?

Yes
Yes

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.
Bitbuy offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a drawback 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.
Bitbuy offers robust security with 2FA, SSL encryption, and cold storage. It is regulated by Canadian authorities, ensuring high security for investors.

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 highly recommend Bitbuy for Canadian users looking for a secure and user-friendly platform to begin their cryptocurrency trading journey. While it does have higher trading fees and a somewhat limited range of cryptocurrencies, its strong regulatory compliance, excellent customer service, and transparent operations make it a trustworthy choice. For those prioritizing security and ease of use, Bitbuy is definitely worth considering.

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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.

More comparatives Bitmart and Bitbuy