Comparison of Bitmart vs Changenow [ 2024 ]

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

Your expert: Xavier Tarrasó

changenow

Changenow

  • Threenvest valuation: 3,4/5
  • US legal: Yes
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Main points

Fees

0.09%/0,25%

Earns

Yes

Customer service

3/5
hidden

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

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.
4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0.09%/0,25%
hidden

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.
ChangeNOW simplifies the process of trading cryptocurrencies by imposing a straightforward fee structure that varies depending on the transaction and the currency pair used. Typically, ChangeNOW integrates a service fee directly into the exchange rate, which means the rates you see already include the fee, ensuring transparency and avoiding unexpected charges. The platform does not charge a separate service fee, but network fees, which are payments to miners, still apply and are necessary for the transaction to be processed on the blockchain. This fee structure makes it easy for beginners to understand the total cost of each transaction without having to navigate complex fee schedules.

Bitmart

bitmart
Go exchange
  • 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.

Changenow

changenow
Go exchange
  • Security Methods: ChangeNOW employs robust security protocols, including non-custodial transactions that ensure users retain control over their private keys, enhancing overall security.
  • Customer Service: Despite some feedback about needing improvements, ChangeNOW is committed to enhancing its customer support services, with initiatives aimed at providing quicker and more effective responses.
  • Reputation and Reviews: The platform has received positive reviews for its user-friendly interface and quick swap features, establishing a solid reputation in the cryptocurrency community.
  • Trading Volume and Liquidity: With support for over 200 cryptocurrencies, ChangeNOW offers high liquidity, ensuring that transactions are executed swiftly and at competitive rates.
  • Transparency: ChangeNOW is transparent about its fees and processes, providing users with all necessary information upfront, which helps in building trust.
  • Pros
  • User-friendly, intuitive interface.
  • No registration required for exchanges.
  • Supports a wide range of cryptocurrencies.
  • Cons
  • Higher fees than some competitors.
  • No custodial services offered.

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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
ChangeNOW International Ltd.

Regulation

Not regulated
Not regulated

Year founded

2017
2017

Founder

Sheldon Xia
Unknown

Payment methods

Transfers

No
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Bitmart FEATURES Changenow
BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
Minimum Trade
ChangeNOW allows users to trade small amounts of cryptocurrencies, accommodating users who prefer to trade minimal quantities.
Fees are competitive, but could be improved to match lower rates offered by some other exchanges.
Trading and Transaction Fees
While fees are competitive, they can vary and be higher for certain routes or less popular coins.
BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Number of Cryptocurrencies
Supports over 200 cryptocurrencies, providing a wide selection for trading.
Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a vast array of trading pairs, allowing direct swaps between a diverse range of cryptocurrencies.
The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
Website Transparency
Generally transparent about fees and trading processes, but could improve accessibility of detailed information on the backend processes.
BitMart does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Credit/Debit Card
Does not provide its own exchange card for in-store purchases or 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 a secure, non-custodial service that doesn’t store user funds but could enhance security features or options.
Offers competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
Staking and Rewards
Limited options for staking and rewards compared to other platforms that offer comprehensive staking services.
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 interfaces are user-friendly, facilitating easy and efficient trading on any device.
Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Customer Service
Customer service is available but has room for improvement in terms of response times and support quality.
BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.
Deposit and Withdraw
Facilitates easy and fast deposits and withdrawals but could expand the variety of accepted payment methods.

Key features

Analysis tools

Basic charting tools, some advanced features for futures
No significant tools, mainly a swap service

Mobile APP

Yes
No

Security

High 4,9/5
High 4/5

Additional features

Futures trading, staking, lending services, BitMart token (BMX) rewards
Instant crypto swaps, NOW token rewards, fiat on/off ramps, ChangeNOW API

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

200+
200+

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.
ChangeNOW offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.
Offers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

United States, South Korea, Japan, China, Singapore
Global, including 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 traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, BTC, ETH, USDT
BTC, ETH, USDT (varies by transaction)

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.
ChangeNOW is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

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.
ChangeNOW is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low fees.

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.
ChangeNOW provides a simple and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually takes less than a day to complete.

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.
ChangeNOW offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which 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.
ChangeNOW provides strong security with 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some 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 a cryptocurrency analyst at our website, I’ve spent considerable time exploring and using various exchanges, and ChangeNOW stands out for its remarkable simplicity and efficiency. From my personal experience, this platform is especially well-suited for those who are new to the cryptocurrency world or those who prefer straightforward, quick crypto exchanges without the hassle of lengthy registrations. ChangeNOW’s focus on user privacy and security, without requiring personal information, provides peace of mind, making it a top recommendation for users valuing anonymity alongside ease of use. Whether you’re looking to swap small amounts or engage in more significant trades, ChangeNOW facilitates it all with commendable ease and speed.

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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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