BitMart review
BitMart operates as a centralized exchange under the management of GBM Global Inc. and has an address in the Marshall Islands. The exchange keeps deposits in addresses that it controls. Without verification, withdrawals are not permitted. Level 1, which requires personal details without a document upload, enables deposits, buying, selling, and withdrawals up to 0.06 BTC daily. Trading is only available to those at Level 2, which necessitates an ID document and a face scan. In December 2021, hackers compromised the security of BitMart's hot wallets, resulting in the loss of approximately 150 million USD. In our view, BitMart suits traders who accept a document check before they trade.
ID always
BitMart always asks for ID, per its own pages.
Choose BitMart if
Who BitMart suits, from the values on this page.
BitMart suits you if
- You want to pay or get paid over Lightning.
BitMart might not be the right fit if
- You want to skip ID checks: BitMart's terms let it ask for ID.
- You do not want an account: BitMart needs one.
- You want a service with no incident on record: BitMart had one in 2026.
Inside BitMart
Screenshots taken November 5, 2026
What you get with BitMart
Yes, no or partly, from our dataPrivacy 0 of 6
- No IDNo
- No accountNo
- Tor built inNot statedNot statedBitMart's own pages we checked do not say. This is not the same as no.
- Onion addressNoNone published
- I2P addressNoNone published
- Works without JavaScriptNot statedNot statedBitMart's own pages we checked do not say. This is not the same as no.
Coins 2 of 4
- BitcoinYes
- MoneroNot statedNot statedBitMart's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- LightningYes
- ZcashNot statedNot statedBitMart's own pages we checked do not say, checked Oct 15, 2026. This is not the same as no.
Custody and code 0 of 3
- You hold the keysNo
- Open sourceNot statedNot statedBitMart's own pages we checked do not say, checked Oct 14, 2026. This is not the same as no.
- Address screeningNot statedNot statedBitMart's own pages we checked do not say. This is not the same as no.
When can BitMart ask for your ID?
Always, per BitMart's own pages. Labels come from each provider's terms, never from our guess.
- 1Never, by designNo company holds your order, so nobody can ask
- 2Only if you chooseID only for extras you opt into
- 3If a payment is flaggedNo ID by default; checks when a risk system flags you
- 4Above a limitID once you pass a stated amount
- 5AlwaysBitMart is on this stepID before you trade, deposit or withdraw
If a check comes and you do not pass it
BitMart may suspend, restrict or terminate access or cancel accounts with immediate effect for any reason at its sole discretion, without disclosing the reasons; it may refuse, cancel, claw back or reverse transactions, for example in response to a subpoena. Unverified (Level 0) balances cannot be withdrawn at all. Accounts inactive for two years or more pay a monthly custody fee of 1% to 2% (minimum 10 USDT).
“BitMart may suspend, restrict, or terminate your access to any or all of the BitMart Services, and/or deactivate or cancel your BitMart Account(s), with immediate effect for any reason at its sole discretion and is under no obligation to disclose the details of its decision to take such action with you.”
What triggers a check: First withdrawal (Level 1); trading (Level 2: ID document and face verification); any other time deemed necessary by BitMart; transactions beyond certain volume limits (additional information or waiting time); Savings and other products depending on KYC level
Not stated on BitMart's pages: fee on refusal, refund policyBitMart's own pages we checked do not say. This is not the same as no.
- If a trade goes wrong
- Binding and final arbitration for almost all disputes (Appendix 4 of the user agreement)
Checked October 22, 2026
What BitMart costs
| What | BitMart |
|---|---|
| Trade fee | Spot fees tiered by pair class (A, B, C, D) and level based on 30-day volume, total assets and BMX balance; paying with BMX gives a 25% discount; withdrawal fees per coin. Base rates are not in the page text. |
| No-ID limit | Level 0 (no verification): no withdrawals. Level 1 (personal details, no document upload described): deposits, withdrawals up to 0.06 BTC per day, buy and sell crypto, no trading. |
What BitMart knows about you
Who sees what during a trade, and who runs it.
During a trade
No ID check does not make a bank payment private.
Network and who runs it
- Requests from authorities
- Legal documents including subpoenas go to [email protected]; transactions can be cancelled or reversed on a subpoena, court or government order
Checked October 22, 2026
Track record and code
One major hot wallet hack (2021, about 150 million USD, covered by BitMart per its update), two regulator warnings on I-SCAN, the Austrian one two weeks before this check.
Incidents
- 2026Jun 6, 2023 and Oct 1, 2026: Investor warnings on IOSCO I-SCAN: Spain CNMV (WWW.BITMART.COM, 2023-06-06) and Austria Financial Market Authority (GBM Global Inc. ("BitMart"), 2026-10-01).
- 2021Dec 4, 2021: Large-scale breach of one ETH and one BSC hot wallet via a stolen private key; hackers withdrew assets worth about 150 million USD; withdrawals were suspended; BitMart said it would use its own funds to cover the incident and compensate affected users.
- Bug bounty
- Yes: Bug Bounty page linked in the service menu
- Support
- E-mail [email protected]; help center request form
Checked October 22, 2026
More facts we checked on BitMart
- Log retention
- After cancellation BitMart may keep information as needed for its services and legal obligations; no period stated
BitMart in the US and elsewhere
In the US
US availability: With conditions: Not for residents of the State of New York; no securities services in the United States or to U.S. persons; Savings Services not available to users located in or resident of the United States
If you are a US person, US sanctions rules apply to you whether or not a service asks for ID.
Outside the US
Where BitMart does not serve
10 places in its terms
Cuba- Crimea
- France
- Hong Kong
Iran- Korea (Democratic People's Republic of)
- Kingdom of the Netherlands
- the State of New York
- the so-called Donetsk People's Republic (DNR)
- Luhansk People's Republic (LNR)
Show all 10 places+4 moreShow fewer
Regional rule: Not statedBitMart's own pages we checked do not say. This is not the same as no.
- Site blocks by region
- Cuba; Crimea; France; Hong Kong; Iran; Korea (Democratic People's Republic of); Kingdom of the Netherlands; the State of New York; the so-called Donetsk People's Republic (DNR); Luhansk People's Republic (LNR)
Where you live and the provider's terms
Many services on this page do not serve every country. Some exclude people because of where they live or their citizenship, not only where they connect from. Read the provider's terms before you send funds. If the terms exclude you, do not use the service, and do not try to get around the restriction, for example with a VPN.
Taxes
A service that does not ask for ID does not change your taxes. In the US, the federal income tax return asks a yes-or-no question about digital assets, and you must report digital asset transactions whether or not they result in a gain or loss. In the UK, you may owe Capital Gains Tax when you sell, swap or spend crypto, and you must keep your own records. Rules in other countries differ.
No KYC is not anonymity
"No KYC" here means the provider says it does not ask for ID in the cases its terms describe. It does not make you anonymous. BitMart's terms say it can ask for ID in these cases: First withdrawal (Level 1); trading (Level 2: ID document and face verification); any other time deemed necessary by BitMart; transactions beyond certain volume limits (additional information or waiting time); Savings and other products depending on KYC level. Regulated exchanges you send funds from or to may have to collect information about who sends and who receives a crypto transfer. Your tax duties stay the same.
Funds can be held
If a provider asks for more information during a swap or a withdrawal, it may hold your funds until it gets it. Its terms decide what happens next. In the UK, a crypto business that asks for information on a transfer to or from a self-custody wallet, and does not receive it, must not pass the funds on. Read what the provider's terms say before you send. BitMart's terms say that if a check is requested and not completed: bitMart may suspend, restrict or terminate access or cancel accounts with immediate effect for any reason at its sole discretion, without disclosing the reasons; it may refuse, cancel, claw back or reverse transactions, for example in response to a subpoena. Unverified (Level 0) balances cannot be withdrawn at all. Accounts inactive for two years or more pay a monthly custody fee of 1% to 2% (minimum 10 USDT).
Checked October 22, 2026
Exchanges to compare with BitMart
Other active services in this category from our list. The shield shows each one's ID rule from its own terms.
BitMart side by side
From our privacy data, the same fields for every service| What | BitMart | Crypton Exchange | NonKYC.io | BloFin | CoinEx | Pionex |
|---|---|---|---|---|---|---|
| ID rule | ID always | No ID, by design | No ID, by design | ID above a limit | ID above a limit | ID above a limit |
| Account | Needed | Not stated | Needed | Needed | Needed | Needed |
| You hold the keys | No | Not stated | No | No | Not stated | No |
| Monero | Not stated | Not stated | Yes | No | Not stated | No |
| Lightning | Yes | Not stated | No | Not stated | Not stated | No |
| Open source | Not stated | Not stated | No | No | Not stated | Not stated |
Checked October 23, 2026
Short answers about BitMart
From the data on this page.
Does BitMart ask for ID?
BitMart always asks for ID, per its own pages. You need an account.
How much can you trade on BitMart without ID?
Level 0 (no verification): no withdrawals. Level 1 (personal details, no document upload described): deposits, withdrawals up to 0.06 BTC per day, buy and sell crypto, no trading.
Who holds your coins during a BitMart trade?
Held by the provider. Custodial: omnibus blockchain addresses controlled by BitMart, separate internal ledgers per user.
What does BitMart cost?
Trade fee: Spot fees tiered by pair class (A, B, C, D) and level based on 30-day volume, total assets and BMX balance; paying with BMX gives a 25% discount; withdrawal fees per coin. Base rates are not in the page text..
Who checked this page
Sources, how we read the terms and our process
Sources
- bitmart.com/en-US, for I2P address, checked October 15, 2026
- bitmart.com/en-US, for bug bounty, checked October 22, 2026
- bitmart.com/fee/en-US, for fees, checked October 22, 2026
- iosco.org/i-scan, for incidents, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/115004890354, for what triggers a check, what happens if a check fails, custody, custody in detail, operator, excluded countries, US availability, if a trade goes wrong, requests from authorities, support, site blocks by region and log retention, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/17559327229979, for bitcoin and Lightning, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/360005848673, for data collected, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/360053944573, for ID rule, no-ID limit and account, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/4411998987419, for incidents, checked October 22, 2026
- support.bitmart.com/hc/en-us/articles/53481345039003, for status, checked October 22, 2026
How we read the terms
We do not give privacy services a score. We record what each provider's own pages say: when it asks for ID, the limits, who holds your coins and what it costs. Labels come from each provider's terms, never from our guess. How we read the terms
Our process
We take fees, availability, licenses and coin counts from primary sources: BitMart's own fee schedules, terms and help pages, and the public registers kept by regulators. Every value carries the date we last checked it. The values on this page were checked between October 15, 2026 and October 22, 2026.
Not legal or tax advice. This page explains how these services work and what their own terms say. It is general information, not legal, tax or financial advice. Rules differ by country and change often. Check the rules where you live, or ask a qualified professional, before you use any service listed here.