Bit Review 2024

Autor

Revisor

Last update: 4 months ago

Our veredict

Bit.com stands out in the cryptocurrency exchange landscape for its advanced trading features and robust security measures, making it a compelling choice for experienced traders and institutional investors alike. The platform’s integration of spot, futures, and options trading on a single account allows for a versatile and dynamic trading experience. Notably, its deep liquidity and competitive fee structure ensure efficient trading execution, which is a significant plus for those looking to trade at volume.

However, the complexity of Bit.com’s interface and the depth of its trading options might pose challenges for beginners, who may find the platform less accessible than more streamlined alternatives. Additionally, the lack of support for fiat currency deposits and withdrawals limits accessibility for new entrants to the cryptocurrency market who might not already possess crypto assets. Overall, while Bit.com excels in catering to the needs of advanced traders with its sophisticated tools and features, it could improve by enhancing its user interface and expanding fiat currency support to attract a broader user base.

Pros

Cons

3,8

Threenvest Score

Fees

0.07%/0.04%

U.S Legal

With the confidence of Threenvest

Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.

Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.

Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.

Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.

Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.

Best Crypto Exchanges

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About bit.com

Introduction

Bit.com is a comprehensive cryptocurrency trading platform that caters to both beginners and experienced traders. It provides a robust selection of trading options, including spot trading, futures, and options on cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash.

What is Bit.com?

Bit.com, established as a subsidiary of the digital asset bank Matrixport in 2019, is primarily known for its derivatives trading but has evolved to support a full suite of trading products. It is registered in Seychelles but operates globally with a significant presence in the derivatives market.

Background and History

Launched in August 2020, Bit.com has quickly positioned itself as a significant player in the crypto trading space. It focuses on providing advanced trading tools and products, including the pioneering of Bitcoin Cash options, contributing to its ranking as the second largest in BTC and ETH options markets.

Founders

The platform was launched by Jihan Wu, co-founder of Bitmain and Matrixport. Wu’s vision was to create a versatile trading environment that could support various types of cryptocurrency transactions, appealing to a broad range of traders.

Interesting Facts

Bit.com is one of the few platforms to offer Bitcoin Cash options.
It was developed with a security-first approach, integrating features like multi-signature technology and two-factor authentication to safeguard user assets.
The platform supports a unified margin account, optimizing the use of capital and enhancing trading efficiency.

This background encapsulates Bit.com’s rapid ascent in the crypto exchange world, characterized by innovative trading solutions and a commitment to security.

Why Choose Bit?

Bit.com is an excellent choice for cryptocurrency traders for several compelling reasons. First and foremost, the exchange offers a broad range of trading products including spot, futures, and options on major cryptocurrencies such as Bitcoin, Ethereum, and Bitcoin Cash. This variety allows traders to diversify their strategies and leverage opportunities across different market conditions.

Additionally, Bit.com is known for its advanced security measures. The platform employs multi-signature technology and two-factor authentication among other security protocols, providing traders with peace of mind regarding the safety of their assets. This commitment to security is crucial in the often volatile and uncertain crypto market.

Lastly, the platform’s competitive fee structure makes it an attractive option for traders looking to maximize returns. Low trading fees coupled with high liquidity ensure that traders can execute large volumes without significantly impacting the market price, which is especially beneficial for those engaging in high-frequency trading.

Where it falls short

User Interface Complexity: Bit.com offers an advanced trading platform that can be overwhelming for new users due to its complexity. The multitude of features and trading options, while beneficial to experienced traders, can deter beginners who might struggle with the steep learning curve. Improvement: To enhance its appeal to a broader audience, Bit.com could improve by streamlining its user interface and incorporating more intuitive navigation and onboarding tutorials that guide new users through the process of trading.

Regulatory Uncertainty: Another concern is the regulatory uncertainty surrounding Bit.com. The exchange operates in a rapidly evolving regulatory environment, and the lack of clear compliance could pose risks to traders due to potential future legal challenges. Improvement: To mitigate these concerns, Bit.com should work on obtaining additional licenses and approvals in key markets. This would not only bolster its legitimacy but also reassure users of its commitment to adhering to local laws and regulations, thereby enhancing trust and stability.

Features	Explanation
Minimum Trade	Allows small minimum trades, accessible for those looking to start with modest amounts.
Trading and Transaction Fees	Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Crypto-to-Crypto Trading Pairs	Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Website Transparency	The website provides clear and detailed information about fees, policies, and trading options.
Credit/Debit Card	Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Storage Offering	High-level security storage solutions including cold storage options to protect user assets.
Staking and Rewards	Offers staking options but with limited rewards compared to leading competitors.
Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer Service	Customer service is available, but response times can vary, impacting user experience during peak times.
Deposit and Withdraw	Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

Fees

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

Pros

Low Trading Fees: With taker fees at 0.06% and maker fees at 0.04%, Bit.com offers some of the lowest fees in the industry, encouraging frequent trading.
No Deposit Fees: There are no fees for depositing cryptocurrencies, making it cost-effective for users to fund their accounts.
Incentives for Makers: The lower maker fee incentivizes market-making, which enhances liquidity on the platform.

Cons

Trading Commissions

Bit.com utilizes a tiered fee structure for both takers and makers, which is instrumental in promoting high-volume trading. Takers are charged a fee of 0.06%, and makers enjoy even lower rates at 0.04%, making it one of the most competitive commissions in the market. This setup not only encourages liquidity but also facilitates large volume trades without significant cost penalties.

Hidden Commissions

One of the critical aspects to understand about Bit.com is its transparency in fee disclosure. While the basic trading fees are low, traders need to be aware of potential costs associated with fiat transactions and withdrawals, which can vary and may not be as competitive. These fees can significantly impact the cost-effectiveness of trading strategies, particularly for those who operate with tight margins.

In-depth Analysis

The commission structure at Bit.com is designed to support a variety of trading activities, including spot trading, futures, and options. This versatility allows traders to leverage their positions according to their risk tolerance and market position. For instance, lower maker fees incentivize users to contribute to the market’s liquidity, potentially earning them rebates, which can offset some of the trading costs. The exchange’s approach to commissions is highly strategic, aligning with its broader business model to attract a diverse user base. By maintaining low trading fees, Bit.com ensures that it remains attractive to both high-frequency traders and those new to the markets, looking to experiment without a significant financial burden.

Contextual Placement

Understanding the broader market context is crucial when evaluating Bit.com’s fees. Compared to industry standards, where maker and taker fees can average around 0.1% to 0.2%, Bit.com’s lower fees position it as a highly competitive platform that leverages cost-efficiency to attract and retain users.

Conclusion

Overall, Bit.com’s fee structure exemplifies a sophisticated balance between attracting large volume traders and maintaining an accessible platform for new entrants. Traders benefit from understanding these nuances, ensuring they can maximize their trading strategies while minimizing costs. This detailed insight into Bit.com’s fees reflects not only the platform’s commitment to competitive pricing but also highlights its strategic position within the broader cryptocurrency exchange market.

Product selection

Bit.com offers a wide range of services and products designed to cater to both novice and experienced traders in the cryptocurrency market. This full-suite cryptocurrency exchange is renowned for its comprehensive derivatives trading options, including futures, options, and perpetual contracts on major cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash. The platform is also equipped with advanced trading tools and charts that provide high liquidity and low fees, enhancing the trading experience. Furthermore, Bit.com supports spot transactions with leverage, allowing traders to amplify their trading positions. The inclusion of an insurance fund and robust security measures such as cooperation with Cactus Custody ensures the safety of client assets, making Bit.com a reliable and secure choice for trading digital assets.

Pros

Comprehensive Trading Options: Bit.com offers a wide range of trading instruments, including spot, futures, options, and perpetual contracts, providing traders with multiple ways to engage the market.
Advanced Security Features: The exchange uses multi-signature technology and two-factor authentication, ensuring high levels of security for users’ funds.
High Liquidity: Due to its substantial trading volume, Bit.com offers high liquidity, which enables easier entry and exit for traders at competitive prices.

Cons

Complexity for New Users: The wide array of advanced trading options and the detailed interface can be overwhelming for beginners, making it less accessible to those new to trading cryptocurrencies.
Limited Fiat Options: The platform primarily supports crypto-to-crypto transactions, which might limit accessibility for traders looking to use fiat currencies directly.

Read more about product selection in Bit

Bit.com offers a diverse range of services and products that cater to various aspects of cryptocurrency trading and investment, making it a robust platform for users with different trading needs and strategies. Here’s an extensive overview of the services and products available on Bit.com:

Leveraged Tokens

Bit.com allows trading with leveraged tokens, giving traders exposure to cryptocurrencies with leverage without the need to manage collateral or margin directly.

Debit Card

Currently, Bit.com does not offer a debit card service. This could be a point of expansion to allow easier fiat access and spending of crypto assets directly.

Mobile and Desktop App

Bit.com provides a sophisticated mobile app available for both iOS and Android, alongside a comprehensive desktop platform. These platforms offer full trading functionality, real-time data, and advanced charting tools.

Own Cryptocurrencies and Network

While Bit.com does not have its own cryptocurrency or blockchain network, it supports a wide range of other cryptocurrencies and tokens.

Financial Products

Futures: Bit.com offers futures trading, allowing users to speculate on the future price of cryptocurrencies.
Options: Traders can also engage in options trading, providing a method to hedge or leverage their positions based on their market predictions.
Perpetual Contracts: These contracts do not have an expiration date, providing flexibility for long-term trading strategies.

Launchpad

Bit.com does not currently offer a launchpad for new tokens or projects, which could be an area for future development to support the crypto ecosystem’s growth.

Staking and Earnings

Users can engage in staking certain cryptocurrencies, earning rewards for holding and securing the network, though the options and supported tokens may vary.

Loans

The platform provides opportunities for crypto-backed loans, allowing users to leverage their cryptocurrency holdings for additional liquidity without selling them.

Liquid Swap

This service is not currently featured on Bit.com, which typically would allow users to swap between different cryptocurrencies efficiently at market rates.

Promotions, Referral Codes, and Tournaments

Bit.com occasionally offers promotions and referral benefits, incentivizing both new and existing users to trade and invite others to the platform.

Leverage and Demo Account

Bit.com offers leveraged trading options and a demo account feature where traders can practice trading strategies without risking real money, which is particularly beneficial for new traders.

Derivatives, Wallet Services, and API

Derivatives: The platform supports a broad array of derivative products.
Wallet Services: Provides secure wallet services for storing a wide variety of digital assets.
API: Offers a robust API for automated trading, allowing advanced users to program trading bots and strategies.

Trading View Integration

Bit.com integrates with TradingView, providing advanced charting tools and market analysis capabilities to enhance trading decisions.

Research and Education

Bit.com invests in providing educational resources and research to help users make informed trading decisions, supporting traders at all levels.

Yielding Pools and Bonus Deals

While specific details on yielding pools are not provided, Bit.com may offer periodic bonus deals or similar incentives to enhance trading value. Overall, Bit.com’s array of services and products makes it a comprehensive platform suitable for traders looking for diverse trading options and high liquidity, though it could expand further into services like debit cards and launchpads to enhance user experience and engagement.

Account opening

Opening an account on Bit.com is straightforward and secure, designed to accommodate both novice and experienced traders. To get started, users need to register on the Bit.com website by providing their email and creating a password. After verifying their email, users must complete the KYC (Know Your Customer) process by submitting identification documents, which is essential for security and compliance with regulations. Once verified, users can deposit funds via various methods and begin trading. The platform’s intuitive interface and comprehensive resources make it easy to navigate, ensuring a seamless account setup and trading experience.

Pros

Speed and Efficiency: The sign-up and KYC process are streamlined and efficient, allowing new users to quickly set up and start using their accounts.
No Minimum Deposit: Bit.com does not require a minimum deposit to start trading, making it accessible for traders of all levels and financial capabilities.
User-Friendly Interface: The platform is designed to be intuitive, which helps new users navigate and manage their accounts without a steep learning curve.

Cons

How to Sign Up on Bit.com

Visit the Official Website: Start by navigating to Bit.com’s homepage.
Create an Account: Click on the ‘Sign Up’ button. You will need to provide an email address and create a password. Make sure to choose a strong, unique password for security purposes.
Email Verification: After registration, check your email for a verification link from Bit.com and click on it to confirm your email address.

Opening An Account

Complete KYC Verification: To fully activate your account and enable all features, complete the Know Your Customer (KYC) process. This will require uploading government-issued identification documents such as a passport or driver’s license, and possibly a recent utility bill for proof of address.

How to Buy Your First Cryptocurrency

Deposit Funds: Once your account is set up and verified, you can deposit funds. Bit.com may offer various methods for depositing, including bank transfers and cryptocurrency deposits.
Make Your First Purchase: Navigate to the trading interface, select the cryptocurrency you wish to buy, and execute your trade. You can typically choose from different order types, like market orders (buy at the current market price) or limit orders (set a price at which you want to buy).

Account Types

Bit.com offers different types of accounts tailored to varying user needs, including:

Basic Accounts for new users, offering straightforward access to basic trading options.
Advanced Accounts for more experienced traders, providing advanced trading tools and higher transaction limits.

How to Use Bit.com?

Navigate the Trading Platform: Familiarize yourself with the trading platform. Bit.com provides a user-friendly interface with powerful tools for both beginners and advanced traders.
Utilize Trading Tools: Make use of charts, indicators, and analysis tools available on Bit.com to inform your trading decisions.

Registration and KYC

Privacy and Security: Ensure that all personal information is handled securely, adhering to Bit.com’s privacy policies. The KYC process is crucial for preventing fraud and meeting regulatory requirements.

Important Note

While this guide outlines the essential steps for getting started with Bit.com, always consider the inherent risks of trading cryptocurrencies. Prices can be highly volatile, and it’s important to make informed decisions and consider risk management strategies. By following these detailed steps, users can smoothly navigate Bit.com’s account opening process and start trading with a solid understanding of the platform’s capabilities and requirements.

Security

Bit.com is a legitimate and secure cryptocurrency exchange, recognized for its rigorous security measures and regulatory compliance. The platform employs advanced security protocols, including multi-factor authentication, encryption, and cold storage for the majority of its assets. Regular security audits and continuous monitoring ensure a robust defense against potential threats. Despite its strong security framework, Bit.com faces challenges in regions with strict regulatory environments, such as the United States. Overall, Bit.com’s commitment to security and regulatory adherence makes it a trustworthy choice for traders, providing a safe environment for trading and asset management.

Pros

Advanced Security Protocols: Bit.com employs state-of-the-art security measures including multi-signature technology and two-factor authentication, ensuring high levels of protection for user assets and data.
Cold Storage of Assets: A significant proportion of the platform's assets are stored in cold storage, providing an added layer of security against online threats and potential breaches.
Regular Security Audits: Bit.com conducts regular security audits and compliance checks to identify and rectify vulnerabilities, maintaining a secure trading environment.

Cons

Complex Security Features for New Users: While effective, the platform's advanced security measures may be complex for new users to understand and manage, potentially leading to errors in setting up security features properly.
Lack of Insurance Fund Details: Bit.com does not provide explicit details about an insurance fund to cover potential losses from security breaches, which might be a concern for users looking for additional financial protections.

Is Bit.com Legit?

Legitimacy: Bit.com operates under a robust regulatory framework, adhering to the stringent requirements of several jurisdictions. It is registered in Seychelles and has built a reputation as a secure and reliable trading platform in the cryptocurrency market.

Regulation and Licensing

Compliance: Bit.com complies with international financial regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering) standards. This compliance helps prevent fraudulent activities and enhances the overall security of the platform.

Security Measures

Multi-Layer Encryption: Bit.com uses advanced encryption technology to secure user data and transactions, ensuring that sensitive information is protected against unauthorized access.
Cold and Hot Wallets: The platform employs a combination of cold storage (for the majority of assets) and hot wallets (for operational liquidity). Cold wallets provide enhanced security as they are not connected to the internet.
Two-Factor Authentication (2FA): Mandatory for all users, 2FA adds an extra layer of security, ensuring that only the rightful owner can access their account, even if their password is compromised.

Security Track Record

History of Security Incidents: Bit.com has maintained a strong security record with no major incidents reported. This is indicative of their effective security measures and incident response strategies.
Ongoing Security Monitoring: Continuous monitoring of its systems to detect and respond to potential security threats in real-time, further securing its platform against unauthorized activities.

Why Bit.com is Considered Secure

Regular Security Audits: Bit.com undergoes regular security audits conducted by third-party security firms. These audits help identify vulnerabilities and ensure that the platform’s security measures are always up to date.
User Security Education: The platform provides users with resources and best practices on how to secure their accounts and personal information, fostering a culture of security awareness among its community.

Conclusion on Security

In conclusion, Bit.com’s dedication to security is evident through its comprehensive measures, regulatory compliance, and proactive approach to safeguarding its platform and users. While the inherent risks associated with cryptocurrency trading cannot be entirely eliminated, Bit.com’s efforts significantly mitigate these risks, making it a secure choice for traders around the world.

Customer service

Bit.com offers robust customer service that is accessible through multiple channels, including live chat, email, and social media, ensuring users can get assistance 24/7. The platform supports multiple languages to cater to its global user base and provides a comprehensive help center with FAQs and troubleshooting guides. User feedback generally praises the efficiency and professionalism of the support team, although some report slower response times during peak periods or for more complex issues. The availability of dedicated account managers for high-volume traders enhances the personalized support experience. Overall, Bit.com’s customer service is reliable and responsive, contributing positively to its reputation as a user-friendly exchange.

Pros

Multilingual Support: Bit.com provides customer service in multiple languages, which is crucial for supporting its diverse global user base effectively.
24/7 Availability: The platform offers round-the-clock customer support, ensuring that users can get help whenever needed, which is essential in the 24/7 cryptocurrency market.
Comprehensive Resources: Bit.com has a robust online help center filled with FAQs, user guides, and troubleshooting articles that allow users to quickly find answers to common issues without needing to contact support.

Cons

Customer Support

Overview: Bit.com is committed to providing comprehensive customer support to ensure a seamless trading experience. The support team is trained to handle a variety of issues, from technical difficulties to transaction inquiries, reflecting the platform’s dedication to user satisfaction.

Features:

24/7 Support: Available around the clock, reflecting the non-stop nature of cryptocurrency trading.
Multilingual Assistance: To accommodate a global audience, support is offered in multiple languages.
Specialized Support: For traders with significant volumes or specific needs, Bit.com provides dedicated account managers.

Reputation and Customer Feedback

General Sentiment: The general user feedback on Bit.com’s customer service is positive, with many users appreciating the accessibility and professionalism of the support team. However, like any service, there are occasional criticisms, particularly regarding the speed of resolving complex issues.

Areas of Praise:

Efficiency: Many users report quick resolution times for common queries.
Accessibility: The availability of multiple channels for support is highly valued.

Areas for Improvement:

Complex Issue Resolution: Some users have noted longer resolution times for more complex issues, suggesting a need for more specialized support staff.
Response Times During Peak Hours: During high trading volumes, response times can increase, sometimes leading to frustration among users.

Methods of Contact

Bit.com offers several methods for users to reach customer support:

Live Chat: For immediate assistance, users can use the live chat feature available directly on the platform.
Email: For less urgent or more detailed inquiries, emailing the support team is recommended.
Social Media: Bit.com maintains active social media profiles where users can send messages for support.
Help Center: Users can also utilize the Help Center to find answers to frequently asked questions and troubleshoot common issues.

Response Time

Typical Response Times:

Live Chat: Responses are typically instant to a few minutes.
Email: Users can expect responses within a few hours to a day, depending on the complexity of the issue.
Social Media: Response times can vary but are generally within a day.

Additional Considerations

What Users Might Need:

Escalation Procedures: Information on how to escalate issues if initial resolutions are unsatisfactory.
Feedback Mechanism: A system to provide feedback on the support experience, allowing Bit.com to continually improve its service.
Tutorial Resources: Besides direct support, having access to tutorials, guides, and webinars can help users understand trading mechanisms and platform features, potentially reducing the need for contacting support.

By maintaining robust customer support and actively addressing feedback, Bit.com aims to ensure that its users have a positive and efficient trading experience, fostering trust and satisfaction within its trading community.

Is bit Right for You?

1. Your Experience Level in Trading

Advanced Traders: Bit.com is highly suited for experienced traders who seek a robust trading environment with access to a wide array of trading products, including futures, options, and perpetual contracts. The platform’s sophisticated trading tools, such as advanced order types and leverage options, offer experienced traders the flexibility and functionality needed to execute complex strategies.
Beginners: If you’re new to cryptocurrency trading, you might find Bit.com’s platform somewhat challenging due to its complexity and the advanced nature of the trading options available. While it does offer educational resources, the learning curve could be steep. Beginners might need to consider if they are ready to invest the time to learn how to navigate the platform effectively.

2. Need for Diverse Trading Options

Diverse Portfolio Interests: Bit.com is ideal if you’re looking to diversify your trading strategies across different types of instruments. With its comprehensive offerings that include spot trading as well as derivatives, Bit.com provides a versatile platform for managing a diverse investment portfolio.
Focus on Crypto-to-Crypto Trading: If your trading strategy focuses primarily on crypto-to-crypto transactions, Bit.com is an excellent choice due to its wide range of available cryptocurrencies and pairs. However, if you require frequent fiat transactions, you might find the platform’s limited fiat options a constraint.

3. Security and Regulatory Concerns

Security Conscious Traders: For traders who prioritize security, Bit.com’s rigorous security measures, including multi-factor authentication and cold storage of assets, make it a trustworthy platform. The platform’s commitment to regulatory compliance and security should give traders peace of mind.
Regulatory Environment: It’s also important to consider the regulatory environment in your region. Bit.com operates under the regulatory frameworks of multiple jurisdictions, which is beneficial if you are in a region covered by its compliance. However, the dynamic nature of cryptocurrency regulation means you should ensure that Bit.com’s operations are harmonious with local laws and regulations.

In summary, Bit.com is right for you if you are an experienced trader looking for a sophisticated platform with extensive trading options and strong security measures. However, beginners may need to assess whether they are ready for the learning curve, and those needing frequent fiat access should consider the platform’s limitations in that area.

Bit compared to other crypto exchanges

Threenvest score

3,8

Fees

US Legal

Security

High 4,6/5

On the exhange website

Threenvest score

4,8

Fees

US Legal

Security

High 4,9/5

Gemini

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Available cryptocurrencies and countries available

Bit.com supports a wide variety of cryptocurrencies, offering traders the opportunity to engage in transactions involving numerous digital assets. As part of its offerings, Bit.com provides trading options for over 100 different cryptocurrencies, including major ones like Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).

Availability by Country

Bit.com operates globally, but there are restrictions based on local regulations that affect certain countries. The platform is particularly accessible to traders in major markets that adhere to international financial regulations. However, due to regulatory constraints, residents from some countries, including the United States, may not be able to open accounts on Bit.com. This limitation is primarily due to the stringent regulatory requirements surrounding cryptocurrency trading in these regions.

Main Cryptocurrencies Not Available

While Bit.com offers a broad range of cryptocurrencies, there are notable absences in its listing that might impact traders looking for specific assets. For instance, some newer or less mainstream altcoins might not be available on the platform, which could be a limitation for users interested in a wider spectrum of speculative or niche markets. This setup positions Bit.com as a robust platform for traders primarily interested in major cryptocurrencies and derivatives trading within compliant jurisdictions, though it may not fully cater to those in heavily regulated countries or those seeking a very broad array of crypto assets.

Main cryptocurrencies available

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Bitcoin Cash (BCH)
Cardano (ADA)
Litecoin (LTC)
EOS (EOS)
Stellar (XLM)
NEO (NEO)
Monero (XMR)
Dash (DASH)
Ethereum Classic (ETC)
Zcash (ZEC)
Tezos (XTZ)
Chainlink (LINK)
Polkadot (DOT)
Cosmos (ATOM)
Aave (AAVE)
Uniswap (UNI)
Solana (SOL)

Main countries where you can open an account

Canada
United Kingdom
Germany
Australia
Netherlands
Singapore
South Korea
Japan
Brazil
India
South Africa
Switzerland
Sweden
Norway
New Zealand
Mexico
Italy
Spain
Hong Kong
Russia

FAQs

1. How do I get started with trading on Bit.com?

To begin trading on Bit.com, simply create an account, complete the required KYC verification, and deposit funds either in cryptocurrency or via acceptable fiat payment methods, depending on your region. Once your account is funded, you can navigate to the trading interface to start trading various cryptocurrencies.

2. What types of cryptocurrencies can I trade on Bit.com?

Bit.com offers a broad selection of cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many others. The platform provides options for spot trading, as well as derivatives like futures and options.

3. Can I trade on Bit.com from anywhere in the world?

Bit.com is accessible to users in many countries worldwide, except for those in regions like the United States, China, and others affected by local regulatory restrictions or international sanctions. It’s important to check if your country is supported before attempting to open an account.

4. What security measures does Bit.com implement to protect user accounts?

Bit.com prioritizes security with several robust measures, including multi-factor authentication, cold storage for the majority of assets, encryption technologies, and regular security audits to protect user data and funds from unauthorized access.

5. Are there fees associated with trading on Bit.com?

Yes, Bit.com charges trading fees, which vary depending on the market and your trading volume. Fees for makers are typically lower than for takers, encouraging liquidity on the platform. There are also withdrawal fees, which vary by cryptocurrency.

6. How does Bit.com handle customer support?

Bit.com offers customer support through various channels including live chat, email, and social media. Support is available 24/7 to assist with any issues or questions you might have. The platform also features a comprehensive help center with resources to guide you.

7. What is the minimum deposit required to start trading on Bit.com?

Bit.com does not require a minimum deposit for cryptocurrency transactions, allowing traders to start with amounts they feel comfortable with. However, for fiat transactions, the minimum deposit may vary depending on the method used and regional banking requirements.

Final opinion on Bit

At Threenvest, we understand the importance of choosing the right trading platform that aligns with your investment goals and experience level. Bit.com stands out in the crowded marketplace for its robust derivatives offerings, including futures, options, and perpetual contracts, which cater especially well to seasoned traders looking for depth and variety in trading instruments. The platform’s integration with advanced security measures and compliance with international regulations reinforces its reputation as a secure and reliable choice for serious investors. Additionally, the high liquidity and competitive fee structure make it an attractive option for those engaged in frequent trading and large-volume transactions.

However, Bit.com does present certain limitations that may affect its suitability for all users. The complexity of its trading interface and the sophisticated nature of its trading options might pose challenges for novice traders, potentially steepening the learning curve compared to more user-friendly platforms. Additionally, the limited support for fiat currencies can be a drawback for traders who prefer or need to use traditional banking methods. In comparison to other exchanges, these factors could influence the decision-making process for new entrants to the cryptocurrency markets. At Threenvest, we recommend Bit.com for traders who already have some experience and are looking to leverage advanced trading tools and derivatives in a secure and dynamic trading environment.

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.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.