BitMax Review


BitMax is a cryptocurrency exchange founded at the end of 2018 by George Cao. George Cao comes with experience from an investment fund and has an education from the University of Chicago. BitMax offers multiple trading options catering to the needs of different traders. With Spot, Margin, Derivative, and other investment options, the exchange offers a great package to trade in different ways and in one place.

To top it all off, Bitmax also offers a great user experience with numerous interface options for different tastes. Equally attractive are the other investment options such as the auctioning of various tokens of new projects in which anyone can participate. There are copy trading, staking, and other trading options for BitMax, which we will discuss in more detail in this review.

Pros / Cons
  • Lot of trading instruments
  • High leverage
  • Cannot customize the UI
  • Bad UI of the copy-trading interface
  • Lack of traders on the copy-trading module
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BitMax Features Review

Supported countriesWorldwide
Deposit OptionsCrypto, USD, EUR, and more
Min. Deposit5$
Max. Withdrawal LimitDepending on verification level
Trading fee0.2%
Supportlive chat
Mobile appiOS, Android

BitMax Security Review

BitMax is one of the exchanges that has several security features to protect your account more effectively. Like any self-respecting exchanges, the majority of assets are stored in cold storage and only a small amount is being left in hot wallets. There is a KYC procedure that can further provide additional security such as restoring your account in some cases, Google 2FA, Phone Number notifications, e-mail confirmation for each withdrawal, anti-phishing code. You can also freeze your account on the second if you detect unauthorized activity thus protecting your funds before they are withdrawn from the exchange. The account security options provided by BitMax are more than enough to protect your capital effectively.

Deposits and Withdrawals

On BitMax you can deposit and withdraw over 80 cryptocurrencies and tokens of various projects. This is also one of the exchanges with a wide portfolio of trading pairs like Binance and Kucoin. Depending on your KYC level verification withdrawal limits are going to vary.  If you do not wish to be verified, you can withdraw up to 2 BTC per day. Level 2 account verification will increase the limit up to 100 BTC while level 3 will provide a much higher limit.

Cryptocurrencies that you can deposit and withdraw on BitMax:

  • BTC
  • ETH
  • FIS
  • LTC
  • BCH
  • TRX
  • ADA
  • XTZ 
  • ATOM
  • HT
  • NEO
  • ONT
  • XEM
  • DOGE
  • PTF
  • DEC
  • CNS
  • And more…

Buying cryptocurrencies with fiat currencies like the EUR is possible on BitMax through a third-party provider – Simplex. 

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Trading Instruments

BitMax is offering a large number of trading instruments and options for its users. There is plenty to choose from on this exchange such as spot, margin, and futures trading + a fiat gateway, BTMX investment, staking, DeFi yield farming, copy-trading, and more. 

Spot Trading

For Spot trading, you will find over 50 trading pairs against Bitcoin, Ethereum, and USDT. Here are some of the trading pairs available on BitMax for spot trading:

  • And more…

Margin Trading

Up to 10x leverage is available for margin trading on over 40 crypto pairs. This is one of the platforms like Binance, which offers the possibility to trade almost all available cryptocurrencies on margin with relatively high leverage.

Futures Trading

This option for BitMax is for the time being only available for Bitcoin with up to 100x leverage against USDT. Cross-margin is used at BitMax, which means that all your equity in your trading futures account is used to cover all of your positions. 

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Additional trading services

For those that want to execute trades or buy crypto with fiat currencies, Bitmax is offering a few more options. You can buy cryptocurrencies with Credit and Debit cards, Large Block trades, and RMB Customer Service for the CNY currency.

Credit, Debit Cards


On BitMax you are able to buy 7 cryptocurrencies with EUR or USD through the third-party provider Simplex. 

Available cryptocurrencies on BitMax through Simplex:

  • BTC
  • BCH
  • LTC
  • XRP
  • ETH
  • XLM
  • COTI

Large Block Trade (OTC)


BitMax is partnered with Prime Trust, a US regulated custodian that provides over-the-counter solutions for BTC, ETH, USDT. Using this service will require users to go through extensive KYC, CIP, AML procedures, which vary depending on whether you are an individual or represent an institution.

KYC requirements for Individuals

  • Name (First, Middle & Last)
  • Country
  • Government-issued ID number
  • Address (Street, City, Country, State/Province/Region, Zip Code)
  • Date of Birth (Month, Day &Year)

KYC requirements for Institutions

  • Name
  • Tax ID, EIN, Government-issued number
  • Country
  • Address (Street, City, Country, State/Province/Region, Zip Code)
  • Region of formation
  • Contact person

RMB Customer Service

You can execute OTC trades with CNY on BitMax. For over 500 000 CNY you need to contact the customer support through Wechat in order to continue with the trade.

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The copy-trading service on BitMax is a little bit underwhelming as it is hidden behind a payment wall, a subscription fee set by the trader himself. You need to pay a custom rate per month for each trader before you can start copy trading him. The lack of a good rating list is also disappointing and there is also a lack of traders. Compared to competitors for copy-trading services PrimeXBT with the Covesting module, the offering on BitMax feels like an alpha. 


The personal page when evaluating traders is lacking important information that can give a clearer sight of the performance of a single trader. You can view the trading positions of the traders if you subscribe. 

Overall this is one of the few sides of the platform that are not good. It clearly lags behind the other services that are available on BitMax and especially when compared to another copy-trading service like the Covesting module on PrimeXBT. 

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Additional BitMax Investment products

BitMax offers multiple options with which you can profit on the platform and the platform is not lagging behind the DeFi craze as it is a part of the investment products. 

BTMX Investment


A product to proportionally share profits from a pool.



The exchange is offering the option to stake altcoins directly on the platform and providing rewards for that. This is basically staking done easily, simplifying the whole process. With this service users are one click away from staking various cryptocurrencies. 

Which cryptocurrencies can you stake on BitMax?

  • Swingby – SWINGBY
  • Polkadot – DOT
  • PowerTrade – PTF
  • Mantra DAO – OM
  • FinNexus – FNX
  • Serum – SRM
  • Geeq – GEEQ
  • Orion Protocol – ORN
  • XDai – STAKE
  • ThorChain – RUNE
  • Band – BAND
  • Harmony – ONE
  • Lto – LTO
  • Tezos – XTZ
  • Cosmos – ATOM
  • BetProtocol – BEPRO
  • Kava – KAVA
  • Insolar – XNS

DeFi Yield Farming


This is again DeFi Yield Farming made easy by BitMax as you can participate in providing liquidity only a click away.



BitTreasure is a fixed rate financial product compiled from different cryptocurrencies. By selecting the tokens and the investment term you will get a return based on that selection and the performance of the tokens. 

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Altcoin Auctions

BitMax features auctions of new altcoins, different projects where you can bid for a set number of tokens. Usually, those tokens are sold at a very low price, of course, there is no guarantee that the token price will be higher once it is listed on BitMax.

Order Types

As always you will find the mandatory Limit and Market order types here. In addition to these two order types, there are also the Conditional Limit Order and Conditional Market Order. For the sub-order options you have Post, GTC (Good Till Cancel), IOC (Immediate or Cancel), and FOK (Fill Or Kill).

BitMax User Interface

BitMax is offering two different layout designs for each of its trading services – spot, margin, futures. With the standard being a simplified form reminiscent of the Binance Classic UI. 

bitmax standard-ui

While there is nothing special about the design itself, it provides a very compact view on the pairs, orders, chart, the order book, and the executed trades. This view is more suitable for users that are new to trading as it provides a simplified view of everything needed to trade and exchange with ease.


The professional interface is clearly designed for more experienced traders, with the chart taking up most of the space. The order book, previous trades, and the pair list with the order tab at the bottom are on the right side. The remaining space is reserved for the Open Orders and Positions tab, where you can track your activities.

Unfortunately, as with some other exchanges, you cannot customize the user interface, you only have the two options provided by the designers of BitMax.

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BitMax Exchange Fees

BitMax has competitive fees, which are further increased by the tier-based system that implements 30 days of trading volume and/or average BTMX holdings of an account. 

Fee for large market cap assets:

  • Maker: 0.085%
  • Taker: 0.085%

Trading fee for altcoins:

  • Maker: 0.100%
  • Taker: 0.100%

The trading fees can be further lowered to -0.010% for Maker, 0.015% for Taker for large market cap assets and -0.025% for Maker and 0.035% for Taker when trading altcoins. Of course, in order to reach those levels of fee reduction, you would need to have over 500 million trading volume in 30 days and over 5 million BTMX holdings on the exchange.

BitMax Trading Volume

In 2020, BitMax has a daily trading volume of around 70-80 million which puts it in the mid-range. Most of the daily volume comes from cryptocurrencies like BTC, ETH, STAKE, Link, and Tron, with Bitcoin and Ethereum having a daily volume of over 5 million in most of the time. There are multiple altcoins that have a trading volume over $500k on BitMax thus providing a good place to exchange over 40 altcoins.

Affiliate Program

BitMax offers a simple referral program with one level where you can reach up to 40% in trading fee rebate. The referral reward for inviting users to the exchange is 10% for Cash and Margin while for futures the percentage is 25%. In order to have 40% from the fees on futures, the users that you referred would need to have a trading volume of over 100 million in total. 

BitMax Review Conclusion

If you are looking for an exchange offering a lot of instruments that you can use on a daily basis and want to do more than just the buying and the selling of Bitcoin and altcoins, then BitMax is an exchange that you should consider checking. Trading instruments like copy-trading, staking, defi involvement, auctions , futures trading etc…, BitMax is putting itself ahead of many other cryptocurrency exchanges that are slow to add new trading instruments in their portfolios. 

BitMax is an exchange founded by George Cao in 2018 that offers a number of trading instruments and different investment options.