Bitmart masquarades as a Crypto exchange where users can trade Crypto derivatives and HodL for profit. Bitmart is also claiming to help traders buy and sell NFTs respectively. The website allegedly offers over 1500 different Cryptocurrencies for trading. All of this is offered through a shady website whose domain is Bitmart.com.

While investigating the background of the supposedly legitimate Crypto exchange, we found pieces of evidence here and there suggesting that this website is a deadly scam. If you have lost funds on this fake Crypto exchange, you should seek help from money recovery experts who will assist you in the process of funds recovery. It’s a complex process but the good news is that your money may not have been lost. There is a procedure that experts follow to get the funds from scammers…. even if the scammers are as clever as those who run Bitmart.

5 reasons why Bitmart is a scam and not a legit Crypto exchange

The domain Bitmart.com has been around since 2001 but the people who are currently running the website have been in charge of the project since 2018. It seems this website has changed hands at least once in its lifetime. The practice of buying old domains is used by fraudsters who want to create the impression that the website and the company have decades of industry experience. It’s easier to trust a website that is 10 years old compared to a website that was created a few months ago. This is what the owners of bitmart.com are doing to gain the trust of their victims.

Bitmart is an unregulated Crypto exchange and financial service

The supposedly legit Crypto broker is offering a 3 day event about fixed savings account with 30% APY. The question is whether Bitmart is registered and licensed. As far as our investigations are concerned, this kind of service is regulated by financial authorities across the world. Recently the financial regulator in Spain issued a warning stating that Bitmart is not licensed and authorized to provide financial services in Spain. The regulator published that warning here.

Bitmart is a Crypto exchange with no straight-forward track record

It’s not clear whether this Crypto exchange is a popular destination for trading Crypto or not. The history of their website suggests that the domain has been around for more than a decade. But the track record of this exchange is non-existent. They claim to provide ‘earning opportunity’ through Crypto but no evidence has been found to establish whether this website lives up to its promises.

Very negative reviews about this Crypto exchange

The negative reviews shade light on how it’s like to fall a victim of Bitmart. Victims all have one complaint in common… they can’t withdraw funds out of the platform. Furthermore, victims claim that the people who run this website are always slipperly and lying when it comes to withdrawals.

They may tell you that they’ve sent your Crypto to your specified addess but when you investigate through the Blockchain, you will find that this is a fictitious transaction. We’ve also heard of stories of people who lost money on the Bitmart through margin trading using bots. The Crypto exchange takes no responsibility for the loss even though it’s been demonstrated time and again that the losses are orchestrated by the people who run this illegal Crypto exchange.

Important links not working on the Bitmart website

We navigated the footer menu of the website and found that all of the links to their respective pages are not working. This is unprofessional. It shows that these people are not offering you any serious Crypto trading solutions are and instead looking to convince anyone who will overlook such small details. These are red flags that you should not ignore as they give you a sneak peak into the broker’s conduct. You can’t trust them with your funds.

Anonymous Crypto exchange

With the increasing regulations and focus on Crypto exchanges, there’s no way a Crypto exchange can afford to operate like Bitmart. The industry is very competetive and any slight red flag could mean that a Crypto exchange is not getting customers anymore. For example, you can’t compare Bitmart with exchanges like Binance because the former gets things wrong while the latter is transparent and there is an established company behind the website in question. This particular Crypto exchange is operated anonymously and this is not very encouraging.

Conclusion of the Bitmart Crypto exchange review

Bitmart is a lazy scam. Some of the lies they tell are obvious giveaway. The scammers claim that they will give you free $3000 if you sign up. This is like a joke since a website that can’t get things right will never help you achieve financial stability. The platform offers a Crypto trading environment but as soon as they receive your funds, the story will change.

Steer clear of Bitmart and if you have feedback to give, kindly use the comment section for that purpose.