Bitmart account opening

Here’s a detailed guide on how to open an account on BitMart:

Step-by-Step Process to Open an Account on BitMart

1. Visit the BitMart Website or App: Start by going to the official BitMart website or downloading the BitMart app from the App Store or Google Play. Click on the “Get Started” button located at the top right corner of the main page.
2. Register with Your Contact Information: You can choose to sign up using either your email address or phone number. Fill in the registration form with your chosen contact method, create a strong password, and accept the terms of service.
3. Verification Code: After submitting the registration form, you will receive a verification code via the contact method you used (email or SMS). Enter this code to confirm your registration and complete the initial account setup.
4. Set Up Security Features: Once your account is registered, it’s recommended to set up two-factor authentication (2FA) for added security. BitMart supports Google Authenticator for this purpose. Navigate to your account settings and follow the prompts to enable 2FA.
5. Complete KYC Verification:
   • Starter Level (Level 1): Provides basic access with limited withdrawal options.
   • Advanced Level (Level 2): Allows full access, including higher withdrawal limits. To achieve this, you’ll need to upload government-issued identification (passport, driver’s license, or ID card) and complete a face verification process through the BitMart app.
   • For Level 2, submit your personal information including your full name, nationality, and date of birth. You will also need to upload a photo of your ID and perform a live face scan through the app.
6. Wait for Approval: After submitting the required documents and completing the verification process, BitMart will review your application. This review process can take some time, but once approved, you will receive a notification, and your account will be fully active for trading.
7. Start Trading: Once your account is verified, you can start depositing funds and trading on BitMart. You can fund your account using various methods such as bank cards, Apple Pay, and Google Pay for crypto purchases.

Different Types of Accounts

BitMart offers different types of accounts depending on the verification level and the user’s needs. Here’s a breakdown of the main account types available on BitMart:

Types of Accounts on BitMart

1. Level 1 (Starter Account):
   • Features: This account type allows basic functionality, including buying, selling, and withdrawing cryptocurrencies. However, there are some limits on withdrawal amounts.
   • Verification Requirements: Only basic information is required, such as name, nationality, and date of birth. This level provides access to most platform features but with lower limits.
2. Level 2 (Advanced Account):
   • Features: This account provides full access to all of BitMart’s features, including higher withdrawal limits, access to additional trading pairs, and other advanced functionalities like futures trading.
   • Verification Requirements: For this level, you need to complete a full KYC (Know Your Customer) process. This includes submitting a government-issued ID (such as a passport or driver’s license) and completing face verification. Users will also need to provide additional personal details to comply with regulatory requirements.
3. Professional Accounts:
   • While not a separate account type by registration, users who hold significant amounts of BitMart’s native BMX token or achieve high trading volumes can access reduced fees and other professional benefits. This level is suitable for frequent traders or those who need higher liquidity and leverage options.
   • Fee Structure: Discounts are applied based on BMX token holdings or trading volumes, offering lower maker and taker fees as part of BitMart’s tiered fee system.

Minimum Deposit on BitMart

BitMart offers a flexible approach when it comes to depositing funds, making it accessible to a wide range of users. Here’s what you need to know:

1. No Minimum Deposit Requirement: For most cryptocurrencies, BitMart does not impose a minimum deposit requirement. This means you can start trading with any amount of crypto you transfer into your account. This is particularly appealing for beginners or those who want to start with smaller investments without the pressure of meeting a specific threshold.
2. Fiat Deposits: BitMart allows deposits via various methods such as bank cards, Apple Pay, and Google Pay when purchasing cryptocurrencies directly. However, it’s important to note that BitMart currently does not support fiat deposits for funding your account directly, meaning you cannot deposit USD or other fiat currencies to trade; you’ll need to buy crypto through these payment methods instead.
3. Fees: While there are generally no fees for depositing cryptocurrencies into your BitMart account, specific methods of purchasing crypto using fiat (such as via bank cards) may have associated fees. It’s advisable to check the fees applied by your payment provider before proceeding with fiat-based crypto purchases.
4. Deposit Process: To deposit, log in to your BitMart account, navigate to the “Assets” section, and select the cryptocurrency you wish to deposit. BitMart will generate a unique wallet address for your deposit. Simply transfer the funds from your external wallet to this address.
5. Important Considerations: Always double-check the deposit details such as the correct network for the cryptocurrency to avoid losing funds. Also, while BitMart doesn’t impose minimums for deposits, small deposits may still incur blockchain network fees that could affect the net amount received in your account.

Countries Where BitMart is Available and Restricted

BitMart provides its services to a wide range of countries globally, but there are some restrictions based on regional regulations and internal policies. Here’s an overview:

1. Countries Where BitMart is Available:
   • BitMart is accessible in most countries around the world, including the United States (with some state-specific restrictions), Canada, the United Kingdom, and many countries across Europe, Asia, and Africa.
   • Users from supported regions can register, complete the KYC verification process, deposit funds, and start trading on the platform.
2. Restricted Countries:
   • Despite being registered in the United States, BitMart does not serve residents of certain U.S. states, including New Mexico and Connecticut.
   • BitMart is also not available in several countries due to local regulations or internal policies. Restricted countries include:
     • North Korea
     • Iran
     • Iraq
     • Afghanistan
     • Congo
     • South Sudan
     • Lebanon
     • Kyrgyzstan
     • Japan
   • These restrictions are often due to the exchange’s compliance with international sanctions, anti-money laundering (AML) regulations, or other legal constraints specific to these regions.
3. Checking Regional Availability:
   • For the most accurate and updated information on restricted regions, it’s recommended to consult BitMart’s official support page or refer to external resources like CoinMarketCap which regularly updates the list of restricted regions.