Welcome to this guide, where we are going to look at the best ways to deposit funds into BitMart, while spending as little as possible.
We will compare the different methods available for making deposits so that you have alternatives. So you know which one is the most economical among them all. In case you don’t have one of these options available, you will be able to use the other.
If you are new to BitMart, you can find more guides to this platform below. Feel free to ask if you have any questions using BitMart.
We are going to look at two different ways to deposit funds. The first one within the platform by paying with a card or transfer, and the other one, using another exchange. The other Exchange is Binance, where we will deposit there with our card or by transfer, and then send the cryptocurrencies to BitMart. This second option is useful when the fees are lower using this method than the other. If you don’t have an account with binance, you can create one below to follow the steps with this method.
Buy & Sell
For the first option, we’ll go to the top menu under Buy & Sell. This is where you will be able to buy using card or cryptocurrency transfer, and have them deposited directly into your BitMart balance.
Here, we will go to buy and select the cryptocurrency we want to buy. I recommend buying USDT, USDC or another stablecoin to prevent the price of the cryptocurrency from fluctuating from the time you buy it until it is deposited into your account. And thus have more stability on the price you buy.
Therefore, in recive crypto we will select the cryptocurrency, in this case USDT. In pay, select the amount and currency you use in your bank account to make the payment. With the amount and currency indicated, click on buy. With a minimum of 30$ per purchase.
Here, you will see the different providers, and each one has a different commission. The first one is usually the cheapest option. At the moment, paying 1,000 USD to buy USDT, we will receive 993 with MoonPay. This is a very small commission at 0.3% at the moment.
Please note that this fee may vary, and may be higher at certain times. If so, it may be more profitable to use the other method. But with a fee of less than 2%, this is the best option.
Since the fee is so low, we still select MoonPay. Now, click continue, and follow the steps indicating the information you are asked for such as email address and more. Indicate the payment method and make the payment with your credit card or bank transfer. With the card, you will have the cryptocurrencies in a few minutes to your account. You will then have USDT in your balance to use it to buy any other cryptocurrency you want.
From Binance to BitMart
The other alternative is worth it if the commission charged in the option we have just seen is more than 2%. Although it is more complex, you can save a lot of money in commissions, especially in large amounts if the buy & sell commissions are higher.
What we will do in this option is to deposit in Binance, using the card, 1.8% card fee and with Binance, we will send the USDT to BitMart. The cost will be a 1.8% fee + 1 USDT for the withdrawal, which is hardly anything.
If you don’t have an account with Binance to follow the steps below, you can create one just below.
Let’s deposit in binance, with your currency, in my case euros. I use my credit card to get the deposit instantly. Another option is to transfer large deposit amounts to reduce the cost in commissions.
With our currency deposited in the balance, we will buy USDT (Tether). Since USDT is the most used cryptocurrency in BitMart to buy and sell other cryptocurrencies, as well as a stablecoin, we can send it to another exchange using the Tron network (TRC-20). With a commission of 1 USDT and very fast to arrive.
To get USDT, we will go to market, fiat markets, and look for your pair with the currency you have, in my case EUR/USDT. We will have to go to sell and indicate the amount we want to use and exchange for USDT.
We go back to the home panel and the USDT will appear. With the usdt ready, go to spot wallet and search for usdt. From the app, look for USDT in the spot balance. Click on withdraw or withdraw. And you will find the Binance withdrawal panel.
Now we need the address where to make the deposit. To get it, go to BitMart in the top right menu under assets. Here, look for USDT and click on deposit. Select the Tron network (TRC-20) and you will see the address to copy. Select it and paste it.
We will go back to Binance and paste the BitMart address. Check the TRC-20 network, enter the amount and click withdraw. Confirm with double authentication and you can have the USDT on its way to BitMart. In no time, you will be able to see the USDT in your balance.
You now have your funds in BitMart and can use them to buy any cryptocurrency. Use either of the two methods depending on the commissions you have.
I hope it helps you to deposit in the most economical way possible in BitMart. If you don’t have an account with Binance, remember you can create one just below.