Bit.com Exchange Review 2022: Security, Fees & Special Features

Chief Editor
Publish date: Feb 22, 2022
Last updated: Nov 08, 2022

Bit.com is a Seychelles-registered crypto exchange that initially started out as an options exchange and has now branched out by offering spot market and futures market for cryptocurrency trading. Bit.com is a fast-growing platform with a big following of committed traders that all come for one thing, good trading. The exchange offers great liquidity in all markets, advanced tools for seasoned traders, insurance funds for increased security, and a very innovative strategy center where you can optimize a range-bound market situation through an automated rebalancing tool. Bit.com comes with more surprises that all traders at all levels will find useful so stick around and keep reading for the full story of the Bit.com exchange.

Our rating:
3.91/5
Trustworthy
Non-Regulated
Singapore flag
Bit.com
Founded March 2022
Owner Miller Finance Ltd
Type Cryptocurrency Derivatives Exchange
Fees 0.03%
account minimum 1$
Best for All Traders

Pros

• Advanced trading tools for crypto options, futures, and spot market
• Instant answers from live chat with a human support agent
• All customers on Bit.com are backed up by an insurance fund

Cons

• Non-regulated cryptocurrency exchange
• The only deposit method at the moment is with cryptocurrency
• Bit.com is lacking educational material for beginner traders and investors

Why Bit.com

In this section of our Bit.com review we highlight 6 special features that deserves extra attention.

Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.
Advanced Trading Tools
Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.
Feel extra welcome when joining this platform for the first time. Recieve rewards through deposits or small tasks.
Welcome Bonus
Feel extra welcome when joining this platform for the first time. Recieve rewards through deposits or small tasks.
Use advanced tools only to control the risk when you are trading. This is a great tool for active day traders.
Risk Management
Use advanced tools only to control the risk when you are trading. This is a great tool for active day traders.
Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.
Margin Trading
Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
Trading App
Trade or invest on the go with your smartphone. Keep track of your portfolio where ever you are.
This platform has extra security features such as cold storage wallet or insurance funds for maximum safety.
Security Of Funds
This platform has extra security features such as cold storage wallet or insurance funds for maximum safety.

About Bit.com

Bit.com was launched back in 2020 by Matrixport and since then it’s become a recognized name on the crypto derivatives and options trading scene after first starting out as a pure options exchange that later branched out to offer both spot and futures markets. Bit.com is a top crypto margin exchange that offers great trading tools for both beginners and advanced traders with some of the biggest benefits of the exchange are the lower than average trading fees, insurance fund, deep liquidity, and professional support team.

The common goal of the team behind the exchange is to deliver state-of-the-art price discovery, strategy execution, and new innovations for financial products. The exchange is constantly adding new tokens to its list of tradable coins which can be accessed from both the spot market and futures pit. The main operating company of the exchange is called Miller Finance Ltd which has its main headquarter in Singapore.

Why use Bit.com

After reviewing the exchange I would recommend all kinds of traders at all levels to try the exchange. Bit.com offers a beginner-friendly interface and a very sleek design but at the same time, it has incorporated advanced trading tools and complex order types that make day trading a fantastic experience.

For those who are more concerned about security and want a stable crypto exchange with a strong safety infrastructure, you will be very happy to hear that Bit.com is employing an insurance fund in Bitcoin, Ethereum, and Bitcoin Cash. This is something that we don’t see every day on derivatives exchanges and it increases the overall trustworthiness of the exchange by miles.

Trading on Bit.com

Bit.com started out as an options exchange which means that options traders will find great use of the platform. Something that is unique about trading on Bit.com is a risk management system called Unified Margin that combines the liquidity of all your accounts in the event of unexpected market events that requires more margin on certain trades. Instead of liquidating the position, the Unified Margin system will access funds from your other accounts to support the position until the market environment has stabilized. There is a difference between cross margin vs isolated margin that you should know.

Looking at the trading interface and charting on Bit.com you will be pleased to hear that they have adopted Tradingview charts for an optimal charting experience. All the necessary technical tools and indicators are readily available on both desktop and mobile and if you wish to access leverage you can do so directly from the futures pit where Bit.com has a maximum leverage of 50x. Should you wish to only swap between coins on the platform, simply head over to the instant crypto exchange mechanism for ultra-fast in-house swapping.

Since Bit.com is offering margin and leverage short-selling is also an option. Short-selling can be accessed from the futures pit as well and it is a great way to either hedge your long positions in the event of a market downturn or simply take advantage and profit from a declining market.

How to use Bit.com

In my opinion, Bit.com is a very user-friendly exchange that doesn’t take much figuring out to understand. After signing up, head over to the verification section to send your KYC documents. Don’t worry, this is a very smooth process. From here, depending on your goal you can navigate yourself to the options market, spot market, or futures market from the main menu.

To increase the overall security of your account, head over to the security page located in the main menu in the profile section. Here you can add a security key from Yubikey, add a 2FA verification password through Google Authenticator, add a fund password for all transactions, and set up your withdrawal address management list for all wallet addresses that you have. For me, I had no problems at all locating these features and I’m sure you will find the user interface very easy to use.

When you are done with your verification follow these steps to make a deposit:

  1. Located the Assets tab in the main menu.
  2. Click Unified Account.
  3. Select the coin you want to deposit.
  4. Click Deposit.
  5. Scan the QR-code or copy the wallet address.
  6. Send your funds to the copied address.
  7. Wait for the confirmation and your funds to arrive.

That’s it. Now you can start trading options, futures, or the spot market that are located in the main menu. Choose your coin and make your first trade!

Bit.com category rating

Costs:4.5/5
Security:3.8/5
Trading Features:4.1/5
User-friendliness:4.4/5
Educational Resources:3.0/5
Mobile-Friendly:5.0/5
Funding:3.5/5
Customer Support:4.5/5

Things to improve on

The only minor pitfalls I could see while conducting this review are the funding options that are limited to cryptocurrencies at the moment and the lack of educational material for beginners. This is not something that would change my mind about trying the exchange as it is a great platform for traders at all levels.

Normally, I point out the lack of a live chat in this section of the review but in the case of Bit.com I am very happy to recommend the platform to all users who want professional support more than anything else, you will not be disappointed.

Bit.com Trading Fees

Products
Maker fee
Taker fee
Options
0.02 %
0.03 %
Cryptocurrency
0.02 %
0.07 %
Futures
0.01 %
0.05 %

Products

Options
Options
Cryptocurrency
Cryptocurrency
Futures
Futures

Trading Platforms

Webtrader
Webtrader
Mobile App Android + Mac
Mobile App Android + Mac
Tradingview
Tradingview

Order Types

MO - Market Order
LO - Limit Order
TO - Trigger Order
TL - Trigger Limit
TM - Trigger Market
FOK - Fill or Kill
GTC - Good till Cancelled
IOC - Immidiate or Cancel
PO - Post Only
HO - Hidden Order

Supported Devices

Desktop
Desktop
Tablet
Tablet
Smartphone
Smartphone
Web
Web

Special Features

Instant Coin Exchange
Leverage Trading
Altcoins
Market Making
Promotions
Deposit Bonus
Advanced Charting
KYC
2FA Verification
Technical Indicators
Trading Strategies
Automated Trading
New Trading Platform
Quick Registration
Fast Execution Speed
Fast Withdrawals
Professional Support
Rebate
Cryptocurrency Wallet
Low Slippage
High Limits
Fast Account Verification
Short Selling
Beginner Friendly
One Click Trading

About the special features on Bit.com

There are some features on Bit.com that deserve an extra mention, such as the crypto trading app, the reward center, the rebalancing market maker strategy, and the overall data info on the exchange. The data info gives you an updated view of the insurance fund, the weighted bitcoin index, the last futures and options settlements, a real-time funding rate with history included, and the full pool of liquidity in the insurance fund.

Insurance fund

First I want to say that there are not many exchanges that offer an insurance fund. Second, the insurance fund covers up to 201.4073 BTC, 2507,8675 ETH, and 3018,2201 BCH. Should something go wrong on the exchange or in a worst-case scenario that there is a breach of some sort, the insurance fund on Bit.com will cover any lost funds for its customers. Obviously, this increases the overall security of the exchange and puts Bit.com among the safer platforms to use.

Unified Margin

The unified margin is something that not many other derivatives exchanges and platforms offer. It is a special risk management tool that enables the trader to access liquidity or extra margin in the case of a market downturn or tough market conditions. Through the unified margin, all your accounts on Bit.com are connected, and should your futures position need extra margin due to market volatility, the system will access extra capital as margin collateral to back up your trade until the storm is over.

Rebalancing Market Maker Strategy

The rebalancing market maker strategy is an automated crypto trading program that will ensure optimum balance between two crypto assets in the portfolio. The concept of this strategy is to adopt a 50-50% balance between two assets. The way it works is you choose two assets that you want to allocate the same amount of capital to, let’s say BTC and ETH. The rebalancing tool will automatically rebalance the ratios if one of the currencies increases in price.

To help out, Bit.com has added a virtual amount to compensate and reduce portfolio volatility. This tool is a great way to hedge your portfolio and stay in equilibrium between different assets and keep your portfolio in balance.

Options Trading

Bit.com started out as a crypto options trading exchange. It was launched in 2020 and quickly became the second-largest options trading platform in terms of volume and open interest. Now it has grown into something bigger. The options pit offers options contracts in Bitcoin, Ethereum, and Bitcoin Cash. The options interface is well-equipped and you can choose from options dating several months in the future. Choose between calls or puts depending on the market conditions and combine strategies such as straddles, spreads, collars, a strangles. Every options trader should give it a try and I’m happily surprised to see the lower than average option trading fees.

Futures Trading

The futures trading pit is a great place for day traders to start out with more advanced day trading strategies. Through the futures pit, you can access margin trading and leverage up to a ratio of 1:50. Leverage is used to amplify profits and if you are starting out with a  small account, leverage will bring you more purchasing power. However, be mindful of the risks as leveraged trading will increase eventual losses.

Reward Center

In the reward center on Bit.com traders can access several different coupon codes to reduce trading fees while trading on the exchange. This is a great option for large traders and very active day traders who rely on having their fees reduced. Check out the reward center to see the available coupons you can collect.

Our own experience with Bit.com

N/A

Bit.com Funding Methods

Cryptocurrency
Cryptocurrency

Accepted Currencies

N/A

Limits

Max Withdrawal Limits $1000000 daily
Min Withdrawal Limits BTC 0.0005
Min Deposit Limits BTC 0.00001

Bit.com Withdrawal Fee

Method Fee
Cryptocurrency BTC 0.0005

Languages

United Kingdom
English
China
Mandarin (Chinese)

Restricted Countries

Afghanistan
Cambodia
China
Korea, Democratic People"s Republic of
Lao People"s Democratic Republic
Iran, Islamic Republic of
Iraq
Lebanon
Mongolia
Myanmar
Pakistan
Syrian Arab Republic
Singapore
Maldives
Yemen
American Samoa
Barbados
Canada
Guam
Haiti
Panama
Puerto Rico
Bahamas
Trinidad and Tobago
United States
United States Minor Outlying Islands
Venezuela, Bolivarian Republic of
Virgin Islands, U.S.
Botswana
Burundi
Democratic Republic of the Congo
Ghana
Guinea-Bissau
Kenya
Libya
Mali
Mozambique
Nicaragua
Mauritius
Sierra Leone
Somalia
South Sudan
Sudan
Madagascar
Uganda
Mauritania
Zimbabwe
Iceland
Albania

Security

Is Bit.com safe to use?

We consider Bit.com to be a safe and legitimate crypto derivatives exchange. So far, we haven’t read or heard anything negative about the exchange in regards to lost funds which is always a good sign. In addition, the insurance fund adds to the trustworthiness of the exchange as it is not a common practice to offer insured funds for retail traders, good job Bit.com!

Is Bit.com regulated?

No, it is not a regulated exchange.

Withdrawal Address Management

If you want to be sure that only you can access your funds you should whitelist all the wallet addresses that you own. When you whitelist an address, withdrawals will only be available to the wallet you have added to the list. This keeps your funds secure even in the worst-case scenario of a theft.

Fund Password

The fund password will activate a password for your trading activities on the exchange. Whenever you trade, withdraw, or make a transaction, this password will be needed to go through with the operation.

Support

Contact Form
Contact Form

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4.32/5
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Our rating:
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Our rating:
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Frequently asked questions

Read what other investors ask about Bit.com. Find answers without searching the web.

It is a crypto derivatives exchange that offers crypto options, futures, and spot trading at lower than average commissions. The exchange has both advanced and easy-to-use trading tools for all traders.

No, currently the only deposit method is with cryptocurrency. The fiat on-ramp is coming soon this year, stay tuned.

Yes, the app is an extension of the web version and works for all kinds of trading.

It is not required to file your KYC documents to sign up with the exchange, however, if you want to trade in the options, futures, or spot market, you will be asked to send in your KYC documents.

Cryptocurrency withdrawals take about 5-60 minutes depending on the blockchain you use. Without any congestion, it should not take long at all.

The exchange is registered in Seychelles, as a spinoff of Matrixport which is headquartered in Singapore, bit.com has offices all over the world.

Yes, Bit.com is one of the best crypto options exchanges to trade and the only exchange which offers both portfolio margin and unified margin features.

Yes, the crypto wallets can be accessed through the "Assets" tab in the main menu.

No, US traders are not welcome to trade on the platform.