Is it worth listing on Bitmart from the project’s point of view?
It’s a popular exchange among smaller coins. It is often used as a starting point on the way to larger centralized venues.
From the point of view of access to retail investors, its base on BitMart is limited. This is not a tier one exchange, not even a tier two.
BitMart is one of the most frequently chosen digital asset exchanges for token projects’ first listings. There are a couple of reasons why.
Listing on mainstream cryptocurrency platforms may be a substantial financial burden for a project, costing up to 1 mln USD. However, BitMart is known in the crypto industry for its rather affordable listing fees. And that makes many token projects sign the listing agreement with BitMart first.
BitMart’s declared user base (9 mln+) allows projects to attract the attention of crypto investors when they share the news about the listing partnership with the platform.
At the moment of writing the article (2022), CoinGecko allows trading more than 669 tokens listed on the platform, with new assets added every quarter. This means that the platform’s strategy is to list many startup token projects, which increases the chance of a successful listing.
Who are BitMart market makers?
Market makers on BitMart are independent companies, like ours, that provide liquidity for projects on their accounts. We help projects build healthy organic liquidity. In such a market as BitMart, it is worth providing investors with sufficient liquidity to take advantage of the fact that many retail and institutional investors are there. A healthy order book builds investor confidence.
Look at how we help projects grow on crypto exchanges like BitMart with our market making services.
Is BitMart a maker market?
BitMart is probably not engaged directly in market making activities, and we are unaware of any market makers associated with this exchange. However, as the company structure is unclear and complicated, we would not stake much ETH on this statement. Trading conditions are very demanding, especially on popular pairs, indicating that many sharks swim in this pool already.
Listing on Bitmart with our help
We can help you list your token and manage liquidity on BitMart and other exchanges. The usual process looks like this:
- We set up a call to understand the phase of your project. The following points will be discussed:
- Are you already listed on DEXes or CEXes?
- What is the tokenomy of your project?
- Do you have a listing strategy for your token?
- We discuss the best possible liquidity strategy for your project.
- If we agree to set up a partnership, we introduce you to verified managers of one or more exchanges (listing support).
- After your project gets listed on an exchange, we help you build your markets on platforms.
About BitMart exchange
According to publicly available information, BitMart is a global centralized cryptocurrency exchange that allows users in 180+ countries to buy and sell hundreds of digital currencies. The company was founded in 2017 and has since grown into a high-volume cryptocurrency platform, servicing over 9 million customers worldwide. Although it’s hard to confirm if this number represents active accounts.
BitMart is one of the largest exchanges by reported volume, ranked in the top 20 crypto exchanges worldwide, according to CoinGecko, but these numbers may be inflated.
BitMart’s score metrics
When choosing a venue for listing, it is vital to check its reputation and general rank compared to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap, and Nomics rate the exchange.
CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on various metrics such as liquidity, the scale of operations, cybersecurity score, and more. BitMart’s Trust Score is 8. Only 10% of more than 500 cryptocurrency platforms have Trust Score of 8 or higher.
CoinMarketCap’s Exchange Score is based on the following factors:
- Web Traffic
- Average Liquidity & Volume
- The Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors, and a score from 0.0 to 10.0 is given to the Spot Exchange.
BitMart’s Exchange Score is 5.6.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of assets it trades. The score combines web traffic, volume, and other factors.
BitMart’s Impact Score is 6.94.
Read more on listing on BitMart.
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