Bitmart is a Centralized Crypto Exchange in an Orderly Wind-Down
Bitmart is a custodial marketplace where spot meant direct asset trading and futures meant leveraged contracts tied to crypto prices. It entered an orderly wind-down on July 26, 2026: new registrations, deposits, spot orders and position-increasing futures trades stopped. Existing users retain account access for closures, records and withdrawals under the published cessation schedule.
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The former exchange matched orders through an internal ledger and offered BMX-based fee deductions. The immediate use case now is account closure: cancel orders, reduce futures exposure, redeem eligible products, preserve histories and withdraw through the correct blockchain network.
It is a centralized cryptocurrency exchange for spot and futures trading, with optional BMX fee deductions that reduce trading costs.
Closing Positions and Moving Existing Balances
Bitmart now serves existing account holders primarily as a position-closing, record-access and withdrawal interface. The wind-down schedule asks users to cancel outstanding orders, reduce futures exposure, redeem eligible Earn or staking balances and save account histories. It recommends closing trading positions before 01:00 UTC on August 26, 2026 and submitting withdrawals before 05:00 UTC that day. Withdrawal processing then follows identity status, asset type, destination network, queue order and any requested account documentation.
Can You Still Trade on Bitmart?
New Bitmart trading activity is suspended; remaining futures exposure operates only in reduce-only mode until the trading cutoff.
The transition started at 01:30 UTC on July 26, 2026. New registrations and crypto or fiat deposits stopped, the spot engine stopped taking new orders and futures accounts stopped accepting position increases. Copy Trading, Grid Trading and API trading also entered discontinuation. All spot, futures and other trading services are scheduled to end at 01:00 UTC on August 26, 2026.
| Parameter | Fixed Schedule Value | Custody or Control Model |
|---|---|---|
| New Registrations and Deposits | Suspended from July 26, 2026 at 01:30 UTC | The platform controls account intake and deposit crediting |
| New Spot Orders | Stopped from July 26, 2026 at 01:30 UTC | The central order book rejects new instructions |
| Futures Positions | Reduce-only from July 26, 2026 at 01:30 UTC | Users reduce exposure; the platform blocks increases |
Withdrawals remain the principal live asset function during the transition. Earn, staking, lending, Launchpad and related products are ending in phases under their own settlement arrangements. The platform plans to cease trading operations at 15:59 UTC on January 31, 2027, followed by a limited login period for histories and withdrawal requests under the procedures then in effect.
Custody, Account Security and Network Selection
From there, Bitmart custody means the exchange controls deposited assets on-chain while each user holds an internal account balance.
The Custodial Ledger
During active trading, the internal ledger moved BTC, ETH and USDT balances when orders filled without broadcasting a blockchain transaction for every trade. The same custody boundary now governs withdrawals. An account holder requests a transfer, while the platform validates the account, deducts the balance and broadcasts the on-chain transaction after approval.
Account and Withdrawal Controls
Account controls include a passkey, email or phone verification, device management, Google Authenticator and withdrawal address whitelisting. Device management exposes authorized sessions, while login history supplies time, location and IP data for reviewing unfamiliar access. Google Authenticator displays a 6-digit Time-based One-Time Password, or TOTP, which refreshes every 30 seconds. Withdrawal review also uses identity data, destination details and account history when the platform requests additional documentation. A saved-address change still requires the account checks configured for each withdrawal authorization.
Matching the Destination Network
Network selection decides whether a withdrawal reaches a compatible address. USDT exists as ERC-20 on Ethereum, TRC-20 on Tron and an SPL token on Solana, among other deployments. The selected Bitmart withdrawal network must match the destination network exactly. An ERC-20 transfer cannot credit a TRC-20 receiving route merely because both balances use the USDT ticker.
Self-custody begins only after the destination wallet receives the blockchain transaction. A Ledger or Trezor hardware wallet controls assets through keys held outside the exchange where the selected asset and network are supported. Until broadcast and confirmation, the balance remains subject to the exchange withdrawal process. The practical boundary changes after the destination chain records the transfer and the receiving wallet recognizes the token standard.
How the Spot Order Book Worked
The former Bitmart spot engine matched priced buy and sell instructions and settled fills on its custodial ledger.
Pairs and Quotes
Each market joined 2 assets: a base asset and a quote asset. In BTC/USDT, BTC supplied the traded quantity and USDT expressed its price. Bids recorded buyer limits; asks recorded seller limits. When compatible prices met, the engine recorded execution price, quantity and fee before updating both account balances.
Maker and Taker Roles
A market order took liquidity from resting quotes. A limit order earned maker status only when it remained on the book before another instruction filled it. A crossing limit counted as a taker for the immediately filled portion, while any remainder could later act as maker liquidity. Trading fees attached to completed fills rather than an unfilled order. This mechanism explains historical trade records even though new spot instructions have stopped.
API Order Controls
The spot API documented 4 primary order types: limit, market, limit-maker and immediate-or-cancel. It also exposed 4 self-trade protection settings: none, cancel-maker, cancel-taker and cancel-both. Client order identifiers accepted up to 32 characters, helping CCXT or Cryptohopper reconcile submitted instructions with fills. Those controls describe the former trading engine; automated trading is being discontinued with the platform.
Historical Trading Fees and BMX Deductions
Anything left over is addressed in Using Bitmart. Historical Bitmart trading fees used maker-taker pricing, pair classes and optional BMX payment on completed fills.
Spot pairs sat in 4 fee classes labelled A, B, C and D, while account tiers set the applied maker and taker rates. Fee levels refreshed daily at 00:00 UTC and took effect 2 hours later. Enabling BMX payment reduced an eligible trading fee by 25% when the account held enough BMX. If the token balance could not cover the deduction, the regular account rate applied.
The published futures schedule listed a 0.0400% maker fee and a 0.0600% taker fee. A reduce-only closure remains an executed futures transaction before the cutoff, so its applied rate belongs in trade history. Funding payments are separate transfers between long and short accounts, and withdrawal charges use another schedule. The withdrawal screen sets that charge from the asset, selected chain and network conditions when the request is prepared.
What Does Reduce-Only Mean for Bitmart Futures?
Reduce-only lets an existing Bitmart futures position shrink or close without allowing its directional exposure to increase.
Before the wind-down, perpetual futures used 2 principal collateral formats. USDⓈ-M contracts used USDT for margin and profit or loss. COIN-M contracts used the underlying coin for margin and settlement, so collateral value moved with that coin. The engine also supported 2 position modes: one-way mode combined exposure in one direction, while hedge mode permitted simultaneous long and short positions.
Reduce-only changes order eligibility rather than the contract’s price mechanics. Funding continues to transfer value between long and short accounts while a position remains open, and liquidation references the mark price derived from index inputs. Positions still open at the trading cutoff can be settled using the applicable mark price, index price or settlement rules. The final amount changes with position size, entry price, funding, applied fees and the settlement price.
Withdrawals, Identity Review and Record Retention
A Bitmart withdrawal combines account verification, destination checks, blockchain processing and a retained history of the request.
The cessation plan lists 7 account actions: review balances, update identity and security settings, cancel orders, close positions, redeem eligible products, verify withdrawal details and retain records. A submitted withdrawal is not yet an on-chain transaction. Review can cover identity, login devices, destination ownership, source of funds and trading history before the platform broadcasts it. Processing time then changes with documentation, request volume, asset type and network congestion. The withdrawal history shows whether a request remains under review, approved or broadcast.
Records should include balance snapshots, deposit history, withdrawal history and spot or futures trade history. Funding payments, BMX fee deductions and internal account transfers complete the economic record for reconciliation. A transaction identifier connects a completed external withdrawal to Bitcoin, Ethereum, Tron, Solana or another destination ledger. Duplicate withdrawal requests do not accelerate this sequence because each request carries its own status and review path, as recorded in Bitmart setup.
A separate U.S. transition had already stopped new U.S. registrations in May 2022 and set August 8, 2026 at 23:59 UTC for remaining global-platform accounts. Bitmart U.S. operates as a separate service, requiring a new account, its own identity review and local product eligibility. The relevant path therefore changes with residence, account entity, supported asset and receiving network.
Former Uses and Technical Components
The former Bitmart venue combined spot conversion, perpetual futures, automated execution and account-based crypto products.
The former product set connected several distinct mechanisms rather than one monolithic trade function:
- Spot markets converted USDT into assets such as BTC or ETH through an order book.
- USDⓈ-M and COIN-M perpetuals created margined long or short price exposure.
- Limit-maker and immediate-or-cancel instructions controlled execution through the trading API.
- BMX balances enabled the optional 25% deduction for eligible trading fees.
- Earn and staking products tracked separate subscriptions, redemptions and reward records.
Public futures detail, depth, funding and kline endpoints were documented at 12 requests per 2 seconds, while open interest allowed 2 requests per 2 seconds. Those limits mattered to automated clients during active operation. The exchange had run markets 24 hours a day and 7 days a week, subject to maintenance. Discontinued trading endpoints and retained market data now serve different purposes, so data availability does not reopen order entry.
Binance, Coinbase, Kraken and OKX as Alternatives
Binance, Coinbase, Kraken and OKX offer different routes away from Bitmart’s closing global trading platform.
Binance combines broad spot and futures menus with an optional BNB fee mechanism. Coinbase emphasizes fiat onboarding and USD spot markets, with Coinbase Advanced exposing an order-book interface. Kraken combines spot trading with region-dependent derivatives and publishes proof-of-reserves materials. OKX places centralized markets beside the separate self-custody OKX Wallet. A replacement venue needs the exact asset, deposit network and product in the user’s jurisdiction; a familiar ticker alone does not establish transfer compatibility.
From a 2017 Launch to a 2027 Closure
The Bitmart exchange began in August 2017 and expanded from spot markets into futures, APIs and account-based products. BMX was listed in March 2018 as an ERC-20 token with an initial supply of 1,000,000,000 units; its design directed 20% of quarterly profits toward burns until 50% of that supply was removed. The global platform entered wind-down on July 26, 2026. It plans to cease trading platform operations at 15:59 UTC on January 31, 2027.
Popular questions about Bitmart
What happens to Bitmart Earn or staking balances during the wind-down?
Bitmart is discontinuing Earn, staking, lending, Launchpad and related products in phases under product-specific arrangements. Existing balances do not share one universal settlement date; the account notice and product panel determine redemption or settlement. Users were asked to redeem eligible positions and preserve records before withdrawal. If a product has a lock, pending reward or separate processing rule, its dedicated notice controls timing before assets return to the withdrawable account balance.
Does the Bitmart wind-down remove BMX from the Ethereum blockchain?
The Bitmart wind-down does not erase BMX from Ethereum because BMX is an ERC-20 token recorded by Ethereum’s independent ledger. A self-custody address still controls its on-chain balance through the corresponding private key after the exchange closes. What changes is exchange infrastructure: Bitmart trading pairs, custody balances, withdrawal support and liquidity sources follow the cessation schedule. Token holders therefore distinguish the network asset from the centralized venue formerly supporting its principal use cases.
Can a Bitmart sub-account submit its own external withdrawal?
Bitmart’s documented sub-account model prevents a sub-account from withdrawing directly to an external blockchain address. Assets first move to the related main account, which submits the withdrawal after the required account checks. Each sub-account could create up to 5 API keys and the main account could manage up to 50 sub-accounts under the prior rules. During wind-down, available transfer functions follow the account interface, but the main-account withdrawal boundary remains the controlling model.
Why could an inactive Bitmart account incur a monthly custody fee?
Bitmart applies a monthly custody fee to accounts continuously inactive for at least 2 years at the month-end snapshot. The published rate is 1% from 2 years through less than 3 years and 2% from 3 years onward, with a 10 USDT minimum unless total account value is below 10 USDT. A valid login before the snapshot exempts that monthly cycle. The policy matters during wind-down because leaving a small balance untouched does not close the account.
What happened to Bitmart spot margin positions on July 26, 2026?
Bitmart discontinued spot margin trading and set July 26, 2026 at 02:00 UTC for closure of remaining margin positions. The system used market-price liquidation for positions still open, repaid outstanding loans and accrued interest from the proceeds and returned any remainder to the spot account. This margin event was separate from ordinary spot trading and the later platform-wide cutoff. Account history should show the repayment, closure and resulting balance movements.
Can eligible U.S. users move directly into Bitmart U.S. with the same account?
Bitmart U.S. is a separate platform, so an existing global Bitmart account does not transfer into it as the same account. An eligible user must register again, complete that platform’s identity checks and confirm local availability for each asset, network and product. Approval and service coverage remain jurisdiction-specific. Before moving funds, the receiving account must expose a deposit route matching the asset and blockchain selected for the withdrawal from the global platform.