Best For

      Blockfer does not recommend trading on BitMax
Bitmax Exchange

BitMax is an unregulated cryptocurrency exchange with no supported fiat deposits or withdrawals.

The company claims to be incorporated and headquartered in Singapore and has only been operating since early 2019.

Bitmax Exchange - 2020 Comprehensive Review

Overall Score:

5
Not Trusted
Liquidity:
6 of 10
Purchase Options:
3 of 10
Ease of use:
7.5 of 10
Trust:
2 of 10
Fees:
9.5 of 10
Support:
7 of 10

Bitmax Exchange Overview

Trading Fees Maker: 0.085% / Taker: 0.085%
Exchange Type Centralized
Fiat Trading No
Purchase Options Crypto Deposits
Android App Yes
iOS App Yes
Trading Options Spot Trading, Margin Trading
Order Types Limit, Market, Limit-Stop, Immediate-Or-Cancel
Exchange Token BitMax Token
Token Benefits Discount on Futures trading fees, Token Burn/ Revenue Share
Charting Software TradingView
KYC Check Yes
KYC Rules Required For Withdrawals Greater Than 2 BTC Value Per 24 Hours
IEO Platform Yes
Education Resources No
Convert Micro Balance No
Institutional Accounts No
Trading API Yes
Deposit Insurance No
Withdrawal Speed Fast
Customer Service Telegram Channel, Support Ticket System
Promotions BitTreasure, Transaction Mining Rewards. Up to 46.8% APR in BTMX Tokens.

Bitmax Mobile App Features

Deposits

Yes

Withdrawals

Yes

Price Alerts

No

Margin Trading

Yes

Margin Funding

No

Live Chat Support

Yes

Bitmax Trading Fees (Maker & Taker)

TierMonthly Volume RequirementMakerTakerMaker
Discount
Taker
Discount
Level 1$1.00 + BTMX Balance = 0.000.09%0.09%0.00%0.00%

Bitmax Withdrawal Fees

AssetWithdrawal FeesMinimum Withdrawal
BitcoinBTC0.00050.01
EthereumETH0.00250.01
XRPXRP0.120
TetherUSDT510

Bitmax does not charge deposit fees.

Complete list of Bitmax withdrawal fees per asset

Bitmax Markets & Volume

Rank

43

Total Assets

77

Total Markets

170

Volume 24h

$355,097,283.68

Volume 7d

$1,461,324,787.85

Volume 30d

$3,943,982,655.26

Bitmax Top Markets

Crypto AssetsPricePairs24h Volume
BitcoinBTC$12,802.8256$46,875,251.31
EthereumETH$367.2220$19,259,609.58
XRPXRP$0.263$2,436,522.98

Bitmax Supported Stablecoins

Stablecoin AssetsPricePairs24h Volume
TetherUSDT$1.0285$89,020,338.17
Paxos StandardPAX$1.002$795,429.91
USD CoinUSDC$1.011$67,436.43

Bitmax Token (BTMX)

Ticker

BTMX

Price

$0.04

Volume

$3,045,152.41

Market Cap

$27,383,170.00

Circulating Supply

660,615,274

Total Supply

780,615,274

Rank

214

Blockchains

Ethereum

Trusted Exchanges

Bitmax

Hardware Wallets

Ledger, Trezor

Bitmax Token (BTMX) Exchanges

ExchangeRatingPricePairs24hr Volume
Bitmax5/10$0.043$2,996,888.29

Recommended Bitmax Token (BTMX) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Bitmax Exchange Alternatives

Rating5/107.5/108.5/10
Trading FeesMaker : 0.085%
Taker : 0.085%
Maker : 0.1%
Taker : 0.1%
Maker : 0.1%
Taker : 0.1%
Fiat TradingNoYesYes
Purchase OptionsCrypto DepositsCrypto Deposits, Credit CardsCrypto Deposits, Credit Cards
Trading OptionsSpot Trading, Margin TradingSpot TradingSpot Trading, Margin Trading, Margin Funding, Futures Trading
IEO PlatformYesYesYes
Mobile AppsYesYesYes
HeadquartersSingaporeHong KongMalta
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Trading Fees - BitMax has the lowest trading fees of any centralized exchange in the industry at 0.04% for maker and taker.

Cons

  • Trading Volume Manipulation - Based on web traffic statistics, it is very unlikely that BitMax’s trading volumes are accurately reported.
  • No Fiat Deposits & Withdrawals - BitMax is purely a crypto-to-crypto exchange. Fiat deposits and withdrawals of any kind are not available.
  • Low Volume Margin Trading Pairs - BitMax offers margin trading on crypto assets with inadequate orderbook volume. This can create extremely risky trading scenarios for traders of all experience levels.
  • Controversial ICO - BitMax conducted in ICO in late 2018. They have publicly changed their prior agreement with contributors multiple times after the raise was complete.
  • Low Quality Listings - BitMax continues to list projects and tokens of questionable reputability.

Frequently Asked Questions

Is BitMax a trustworthy exchange?

Does BitMax support fiat deposits and withdrawals?

Does BitMax offer margin funding?

Does BitMax offer margin trading?

Where is BitMax located?

Summary

Bitmax is a retail focused centralized cryptocurrency exchange with no fiat deposits or withdrawals. The exchange is currently incorporated in Singapore and successfully raised 13.67M USD in a 2018 ICO.

The exchange has launched several unique trading and investment products promising suspiciously high returns yet according to several web analysis tools, BitMax’s traffic has been in decline for the last 6 months.

Blockfer does not recommend trading on Bitmax. No fiat deposits or withdrawals, declining traffic, likely trading volume manipulation, and their willingness to list lower quality crypto assets should not inspire confidence in potential users.

Legal & Regulation - Facts & Figures

Legal Name BMXDM Technology Pte. Ltd.
Incorporated Country Singapore
Headquarters Singapore
Year Founded 2018
CEO George Cao
Total Employees 51-100
Regulators Not Regulated
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The cryptocurrency exchanges found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our exchange reviews and comparisons include: liquidity, purchase options, user experience, trading fees, trading options, listed assets, reputation, mobile experience, and customer support.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

Make Better Decisions With Your Crypto.
How We Earn Revenue
Make Better Decisions With Your Crypto.
How We Earn Revenue