Bit.com Crypto Exchange review

bit.com exchange

You probably know now that you can make substantial profits trading digital assets, right? There's no denying that online trading has many opportunities that millions of people are earning. Apparently, 2021 was the year of cryptocurrency, and if you are looking for some financial freedom, cryptocurrency activity is worth it.

However, you should also know that not everyone is smiling back. this space. So even if you've heard of people making huge profits, things may not be what they seem; you need to use a lot of strategies to maximize your profits.

That's why you need a reputable broker like Bit.com. One thing is for sure; a broker is crucial to any successful digital asset investor. In addition, you will need a brokerage to gain access to a variety of tradable assets.

Bit.com is one of the best exchanges available with a good reputation. Even if it is not as highly rated as the existing ones, Bit.com has what every trader in the crypto industry might be looking for. Interestingly, it caters to both beginners and experienced traders

What is Bit.com?

Bit.com is a Seychelles-registered exchange launched in August 2020 by Matrixport, which is founded by Jihan Wu, co-founder of Bitmain. Its chairman is Jihan Wu, who co-founded Bitmain and Matrixport

Matrixport provides a wide range of easy-to-use and innovative crypto-investment financial services and products tailored to any level of expertise. It allows people to have better control over their personal finances.

Users can use their Matrixport login to log in to bit.com. In addition, you can easily and commission-free transfer assets to other users.

Bit.com offers mostly crypto derivatives such as options and futures; however, it also has spot cryptocurrency trading. A derivative is essentially an instrument whose price is based on the value of another asset, such as bonds, stocks and commodities.

Among the main advantages of Bit.com, security and performance probably stand out. These are important features of cryptocurrency trading, and the exchange prides itself on offering institutional-level security and performance. Thus, the platform promises to protect your investments while enhancing your performance.

Pros

  • Great functionality  
  • Unified Margin
  • Low fee
  • NFT support
  • User-friendly interface

Cons

  • Supports few languages  
  • No total anonymity

Bit.com Security

There is no doubt that security is a vital aspect when investing in any exchange. An impeccable trading career is the basis for profits, given the fact that the Internet is full of scammers and hackers.

Bit.com boasts institutional-level security provided by Cactus Custody, a qualified custodian.

In addition, the platform employs a phase-out mechanism to provide additional protection for users in extreme market conditions. This robust Bit.com risk management system was created by a team of world-class technical and derivatives experts.

Bit.com Key Features

A lot of crypto assets

Bit.com offers three asset classes that can be traded on the platform:

Spot

Here cryptocurrencies are traded at market prices relative to other cryptocurrencies, creating a highly efficient trade. platform offering major and popular altcoins in USDT and USDC trading pairs such as;

BTC/USDT BTC/USDC CHESS/USDT ETH/USDT ETH/USDT PEOPLE/USDT SUSHI/USDT UNI/USDT...

Currently , it looks like a limited number of coins compared to other crypto exchanges, but it makes the exchange a specialized platform. After all, short selling is possible; that would not be the case on other platforms -- meaning that you can profit whether a coin goes down or up. In addition, Bit.com has accelerated the listing of new coins with incentive campaigns, aiming to complete a listing of more than 100 coins by the end of the second quarter of this year.

Options

An option contract provides the opportunity to buy an asset at a certain price in the future without any obligation to make a purchase. As far as options are concerned, it is sufficient to deposit a portion of the transaction value (margin) to create a position, which means that the trader is allowed to trade even with limited capital.

Currently, traders can trade options such as BTC, ETH and BCH on Bit.com. Bit.com is the second largest ETH and BTC options market in the world in terms of trading volume. The fact that it is a limited number, crypto options are still in demand and Bit.com is likely to attract more trading volume and more options.

Futures

Like options trading , in futures you need a margin to open a position. The difference, however, is that here the futures contracts have a specified price and date. Bit.com offers both futures and open-ended futures, so you can keep your position open forever.

Unified Margin

All of the assets offered on the Bit.com exchange operate somehow independently, meaning they have different terms, rate plans and more. However, users do not need to have separate accounts to access the markets because of the unified margin (UM). In addition, unified margin allows traders to use one account without restriction, a revolutionary feature of Bit.com.

Unified Margin is an updated trading and risk management system that uses a single account solution for optimal spot, margin, perpetual, futures and options trading. All pledged cryptocurrencies on a single account are allocated margin, denominated in U.S. dollars, to improve capital utilization and thereby reduce liquidation risk.

Trading with leverage

Bit.com exchanges require only a portion of a trader's cost to create a position; this is called margin/leverage trading. Futures contracts and options contracts have it. Spot traders can also access leveraged trading in UM mode. For futures contracts, leverage is 50x, while options traders use 10x leverage.

However, it should be clear that trading with leverage can be risky, given that potential losses are not that far behind. For example, a drop in the price of an asset, the drop in price is subtracted from the trader's margin, which will result in a margin call and therefore a loss of all capital - in fact, you may lose even more than the investment.

High-yield savings

In addition to contributing cryptocurrency to the platform, Bit.com Exchange is a platform that allows you to effectively save your finances through deposit programs in various cryptocurrencies that are updated regularly.

Deposit Bonus

The platform offers a deposit bonus on any bank. The bonus comes on the day of deposit, which is especially nice and allows you to fix more X's.

How to use Bit.com

To start using the exchange, you must go through the standard registration procedure.

To open the full functionality it is necessary to pass the verification procedure.

Bit.com app interface

The image shows the interface of the platform, which is extremely convenient and ergonomic. All the necessary tools are always on the screen, which will not allow you to miss a profitable deal.

Commissions

Trading commissions on the exchange are not standardized, as is the case with other exchanges. Instead, commissions are distributed by levels to increase the number of trades and reward active traders.

Trading commissions

Each time a trader places an order, the exchange usually charges a trading commission, which is ideally a percentage of the order value. For example, Bit.com has a 0.07% commission for takers and 0.02% for makers. Taker commission is 0.05% for open-ended futures and maker commission is 0.01%. The quarterly commission for futures is 0.05% for takers and 0.01% for makers, and for options contracts the taker commission is 0.03% and the maker commission is 0.02%.

Maker commission is usually charged for pending orders which are not executed. Taker commissions tend to be slightly higher as traders take liquidity from the trade at current market prices.

Withdrawal fees

Bit.com Exchange charges users a withdrawal fee of 0.0005 BTC for each BTC withdrawal. Obviously, the fee is lower than the industry average, which is about 0.000643 per BTC withdrawal.

Affiliate Program 

Bit.com would like to invite you to become a bit.com affiliate and share in the benefits by inviting more people to become bit.com users. In this program, you can generate an exclusive invitation link and send it to your friends and community members, inviting them to sign up as bit.com users and enjoy a share of the invitee's commission on their trades.

Who can become a bit.com affiliate?

If you are a veteran of blockchain and cryptocurrency, or a KOL in the crypto space, or an influential content producer, or have a wide network of traders, or a loyal fan of bit.com products, you have the opportunity to become a bit.com affiliate and enjoy a high commission if you meet any of the above points.

If you want to use the affiliate program you need to click the button, as shown in the image.

After approval, you will have the opportunity to place your referral link or get a personal banner, as shown below.
Also you can use our code to get nice bonus: B4RD5P

Bit.com team

The project team is diverse, to support the exchanger involved a lot of people, thanks to their work the exchanger is functioning without interruption.

Social Media links

Disclaimer

Any exchange carries risks, so we remind you that you are personally responsible for all transactions and it's up to you to decide whether to use this product or not. Be careful. This is not an invest recommendation.

Conclusion

To sum it up, Bit.com was very surprised by huge set of features for professional trading, and flexible settings along with automation through the bot help experienced traders to maximize profits. It's also worth noting that the design of the project makes it a reliable tool to organize your assets. We will follow the development of the project and hope to see more interesting features.

FAQ

What is Margin Call?

On Bit.com, a margin call happens when user margin balance is no longer sufficient to support account maintenance margin (i.e. margin balance<MM). 

Account position will start to be liquidated incrementally once margin call is triggered, liquidation process will stop once the margin balance is above the maintenance margin.  

How does Insurance Fund work?

Bit.com‘s insurance fund is the second line of defense to protect from the losses of bankrupt accounts. The first line of defense is the incremental liquidation methodology adopted by Bit.com to greatly reduce the chance of bankruptcy. 

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.

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