BitMart CEO Sheldon Xia: 3 Tips to Consider When Choosing a Crypto Exchange
With Bitcoin reaching a new all-time high of $47,000, all eyes are on the crypto market. Based on the latest data from BitMart, a premier digital assets trading platform, since February, its daily registered users has tripled, with daily trading users doubled. Most of the new users are individual traders.
“This reveals a significant market signal: the institutions-driven bull market is shifting to an individuals-driven bull market. Our platform has flooded with many investors bringing huge trading volumes. They are not for short-term rewards, but coming for a serious investment in cryptocurrency,” Sheldon Xia, BitMart Founder, and CEO commented.
How to choose a reliable platform for buying Bitcoin or other cryptos for the first time? Sheldon suggests that investors should consider three factors when choosing a trading platform: platform security, compliance, and product ease-of-use.
Tip 1. Remember to Choose a Security Platform
The first thing to consider when choosing an exchange is platform security — if the platform can ensure the safety of users’ assets and their trading experience.
For the past three years, BitMart has secured over 2 million users’ digital assets and their trading experience. It has a mission to build one of the world’s safest crypto trading environments. By applying advanced anti-fraud blockchain technology supported by its strategic partners worldwide, BitMart can provide a hacker-resistant, stable, and reliable transaction system for its users worldwide.
BitMart’s strengthened trading system is backed by protection against DDOS attacks, automatic backup of the database, and SSL-secured protection. It adopts automatic protection against distributed denial of service attacks to protect the user’s assets. The system automatically backs up all the data in the database every few minutes, and all web services happen over SSL-secured.
By implementing an advanced multi-layer and multi-cluster system architecture, BitMart’s distributed operating system doesn’t rely on any single person; multiple people and multiple backups ensure the availability of the private key to reinforce the security, stability, and scalability of the system.
Since 2018, BitMart has partnered with leading cybersecurity consulting and tech companies worldwide to strengthen the protection of its digital assets. Partners include Hacken, SlowMist Technology, CertiK, Hosho, The Cabin Capital, and OpenFinance.
Tip 2. Remember to Check Compliance Status of the Trading Platform
Investors should choose a platform with a high degree of trust, with a license and qualifications. Having a license means that it is legal in the country where the license is applied, and it is legally bound and protected by the law; having a license is also a sign of the exchange’s high credibility. Obtaining a compliance license for the exchange means that the exchange is supervised by national law enforcement agencies. Users’ digital assets such as Bitcoin and Ethereum are protected by national law enforcement agencies.
BitMart highly cherishes compliance. Since its establishment, BitMart has been engaging licensed attorneys in China and the United States for legal and compliance-related issues.
In terms of exchange infrastructure, BitMart has maintained anti-money laundering controls and suspicious transaction monitoring tools that comply with requirements under the US Bank Secrecy Act.
Since 2018, BitMart has been registered as a federal-level Money Services Business (MSB) with the Financial Crimes Enforcement Bureau (FinCEN) under the U.S. Department of the Treasury. Furthermore, in 2019, BitMart obtained state-level MSB licenses with the State of Washington and the State of Arizona and a direct waiver from the State of Colorado. The platform has multiple state-level Money Services Business license applications pending and aims to achieve a fully-compliant status across the US in the near future.
BitMart has a prosperous Fiat-to-Crypto market. Their long-term partners provide real-time fiat-to-crypto transactions with human-friendly channels supporting various debit/credit cards. On BitMart, investors can buy BTC, USDT, ETH and other promising coins with more than 42 fiat currencies supported by MoonPay. It is secure, fast, and simple. Click here (https://support.bmx.fund/hc/en-us/articles/360053008913) to learn how to buy coins with MoonPay.
Tip 3. Remember to Choose a User-Friendly Platform
For investors, a good product experience is significant. The product interface should be simple and easy to use, which is the basis for users to trade smoothly.
When designing the trading platform, BitMart always regards user experience as the top priority and puts people first. Its UI/UX product team regularly optimizes and upgrades web pages and apps to better meet users’ needs.
As part of the monthly operational management task, BitMart’s trading platform upgrade is conducted regularly. Each updated system will offer users a more secure and smooth trading experience. Its 24/7 Telegram service line guarantees live updates on security-related issues, like system upgrades, fraud and phishing websites reminders, and tips on protecting against crypto scams. In 2020, BitMart officially launched online customer service, which provides 24/7 live chat service from its customer support team.
BitMart currently has over 2 million registered users from 180 countries and areas around the world. The strict listing process provides diverse and quality crypto investment choices for its investors. BitMart also has mature teams operating in mainstream markets like the United States, China, and South Korea.
“Our mission is to provide financial freedom on a global scale and support ordinary Internet users to make the most use of blockchain technology. BitMart has a mission to build up a world-class secure, compliant, and easy-to-use trading platform,” Sheldon commented, “In 2021, BitMart will focus on development in global compliance, futures trading, and realize institutional users’ bank custody transfer deposit and withdrawal.”
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