Bitmart setup is an Existing-Account Withdrawal Process

Setup Costs, Fee Classes and the Wind-Down Boundary

Importantly, BitMart registration, identity verification and two-factor setup carried no separate platform setup fee.

Registration, Level 1 verification, Level 2 verification, Google Authenticator binding and passkey setup did not create a separate setup invoice. Once the account could trade, spot charges followed four pair classes - A, B, C and D - plus the user’s fee level and maker-or-taker execution. BitMart recalculated each fee level every day at 00:00 UTC and applied it two hours later. Paying eligible trading fees with BMX reduced the computed charge by 25% when deduction was enabled and enough BMX remained in the account. The option was off by default.

Withdrawal fees sat outside that calculation and were quoted for the chosen asset-network route on the submission screen. The displayed amount reflected the asset, network conditions and BitMart’s schedule at that moment. Holding BMX did not alter the bid-ask spread or price impact, and the 25% setting applied only to eligible trading fees. With new registration and deposits entering suspension, the remaining setup cost concerned moving an existing balance out.

Mandatory 2FA Protects the Withdrawal Path

Mandatory two-factor authentication remained the decisive control for an existing BitMart withdrawal.

A password did not complete the transfer. The documented on-chain flow requested two codes: a six-digit Google Authenticator value and a code delivered to the registered email. Google Authenticator used a stored secret to generate Time-Based One-Time Password values locally, while the email code arrived through a separate channel. Save the authenticator secret away from the phone before binding it. BitMart also exposed phone verification, a passkey and device management, but the exact withdrawal screen determined which checks the account had to satisfy at submission.

KYC 2 Was the Spot-Trading Gate

KYC 2 formed the identity threshold BitMart used for full spot-trading access before wind-down.

BitMart divided accounts into three identity states. Level 0 blocked withdrawals. Level 1 collected personal information and allowed deposits, buying and selling, yet it did not unlock exchange trading; its daily withdrawal cap was 0.06 BTC. Level 2 added government identification and facial verification, unlocked the trading feature and raised the published daily withdrawal cap to 100 BTC.

These caps described account eligibility rather than processing speed. A withdrawal still had to satisfy 2FA, address validation, the asset minimum and platform review. The 100 BTC figure capped daily account throughput, while the withdrawal screen supplied the actual transferable amount.

Identity Data Must Match Across Both KYC Levels

Once that is set, BitMart identity verification required the same personal facts to remain consistent across both KYC levels.

Level 1 Personal Data

Level 1 asked for personal information, including country and date of birth. BitMart treated both fields as fixed after confirmation, so a typing error carried into the next stage. Enter the legal name exactly as shown on the selected document, preserving its ordering and spelling. The country on the later document had to match the country stored at Level 1.

Level 2 Document Capture

Level 2 moved document capture to the BitMart app after the website displayed a time-sensitive QR code. The documented choices included a passport, driver’s license and identity card - three distinct document types. The image needed to show the complete document, including both sides where relevant. Camera permission supported either live capture or upload. An expired QR code had to be regenerated by returning to the previous verification page.

Face Verification and Status

Facial verification followed document submission as the second Level 2 evidence step. The user faced the front camera and followed motion prompts until capture completed, then waited for upload and image-quality checks. Closing or refreshing during upload interrupted that submission. The account profile and registered email then carried the approval or correction status, making them the final checkpoint before any account-level feature changed.

Network Selection Still Determines Whether a Withdrawal Settles

Withdrawal network selection determines the blockchain receiving an existing BitMart balance during the wind-down.

EVM Network Identity

An ERC-20 USDT withdrawal travels over Ethereum, while TRC-20 USDT travels over Tron; the ticker USDT does not make those routes interchangeable. Ethereum mainnet uses chain ID 1, BNB Smart Chain uses 56, Polygon PoS uses 137, Arbitrum One uses 42161 and Base uses 8453. Standard EVM addresses carry 20 bytes, displayed as 40 hexadecimal characters after the 0x prefix. Match both the token standard and network shown by the receiving service before confirming, because one address shape appears across several EVM networks.

Memo and Tag Fields

XRP and Stellar add a second routing field beyond the address when the destination assigns a tag or memo. Copy that value exactly from the receiving account. Bitcoin, Solana and many self-custody addresses use different formats and confirmation rules, so a remembered network choice from a prior transfer is insufficient. The withdrawal form’s asset, network, address and tag fields must describe one route.

Spot Readiness Ends at the Existing-Order Review

Spot readiness once meant clearing the account gate before selecting a BitMart trading pair.

After KYC 2 approval, the spot screen separated base and quote assets, such as BTC/USDT or ETH/USDT, and presented limit and market orders. An order resting on the book could receive maker treatment; an immediately matched order received taker treatment. A market order crossed available offers, while a resting limit order waited until another order matched it. Those mechanics connected setup status to the four fee classes described earlier. During wind-down, historical readiness no longer authorized a fresh order. Existing open orders required review because BitMart reserved cancellation for orders users did not cancel themselves.

Two Withdrawal Routes Use Different Settlement Rails

Broadly, BitMart withdrawals separated internal ledger transfers from transactions broadcast to a blockchain network.

On-Chain Withdrawal

An on-chain withdrawal required the asset, network, destination address, amount and any required tag or memo. After review, the documented web flow requested a six-digit Google Authenticator value and email verification before submission. Network settlement then depended on the selected blockchain rather than BitMart’s spot ledger. A receiving platform credited the transfer only after its own confirmation threshold, so the destination’s status completed the check.

Internal Transfer

An internal transfer moved value between BitMart accounts without creating an external blockchain transaction. That route still relied on the recipient identifier and platform controls. It avoided an on-chain destination address and network fee. Yet it remained inside the platform scheduled to terminate operations, giving existing users a shorter operational horizon than an external transfer to self-custody.

For asset removal, an on-chain route reaches an independently controlled destination once the receiving network confirms it. The related figures are collected in Bitmart wallets.

Credential Changes Create Fixed Waiting Periods

Credential changes created predictable waiting periods, so timing became part of BitMart withdrawal setup.

A changed password triggered a 24-hour wait before withdrawal. Multiple failed login attempts imposed a 1-hour login restriction. If email, phone or Google Authenticator access needed resetting, BitMart accepted an authentication reset request through the website or app and listed a 1-3-day review window. These controls delayed access to the withdrawal form or submission authority without changing the blockchain route. A manual unbind packet included four items:

• The registered email address or mobile number
• Front and back images of a government identity document
• A dated photo holding the document and a note explaining the request
• At least one account-activity detail, such as the largest token balance or a deposit or withdrawal record

Complete credential recovery before the withdrawal deadline; the 1-3-day review and 24-hour password hold must both clear first.

The Wind-Down Replaced the Original Setup Sequence

For a regular user, Bitmart setup changed once BitMart began retiring registration, deposits, new orders and trading services.

Where that applies, BitMart scheduled all spot, futures and other trading services to end at 01:00 UTC on August 26, 2026. New-user registration, crypto deposits and fiat deposits began gradual suspension at 01:30 UTC on July 26, while new spot orders entered the same wind-down. BitMart recommended existing users close positions before 01:00 UTC and submit withdrawal requests before 05:00 UTC on August 26. Those dates superseded the former sequence of registering, completing KYC 2, enabling 2FA, depositing assets and placing a first spot order.

Formal platform termination was scheduled for 15:59 UTC on January 31, 2027, followed by an unspecified period for login, historical records and withdrawal requests under then-applicable procedures. Existing users therefore needed Level 2 status, working two-factor authentication and a tested external address before the service deadlines. Setup ended at successful account exit, not at an unavailable order ticket.