It seems like only yesterday that BitMart first opened its doors, and today we are celebrating our fourth anniversary with two weeks of festivities in store!
While we certainly had ambitious hopes and dreams for the future, even we are humbled by how successful we’ve become in such a short time.
Since day one, you have been our focus, and we have obsessed about how to provide you with excellent customer service and ways that we can support you in pursuing your passions and reaching extraordinary heights. Because of the devotion from our wonderful community and active traders, we look toward a bright future in 2022 and beyond.
In celebration of our four years together, we’d like to take you on a little tour of BitMart’s history and what you can expect from us moving forward (including some fun celebration news).
On March 15, 2018, BitMart began on a solid legal foundation when we registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB), allowing us to do crypto-to-crypto trading with ease.
Because we started with complete transparency and licensing, we could attract talent from the traditional finance world who were looking to enter the dynamic digital asset landscape. With a solid core team in place, low trading fees, and our eyes turned toward the future, inevitable wins such as our listing on CoinMarketCap put us in the ring with top exchanges and crypto providers.
Wanting to give our customers an exclusive edge, we created and integrated BitMart Token (BMX) for seamless exchanges, discounted trades, voting privileges, and access to exclusive events like Initial Exchange Offerings. It’s been a hit ever since!
With our fiat on-ramps on full blast reducing risk for customers, awareness of BitMart continued to grow, especially when we debuted a full-color electronic ad in Times Square.
The debut of Mission X allowed BitMart users to democratically vote on projects they wanted to see listed using our BMX token. It was a massive success, with nine projects joining and four meeting the 1 million BMX qualification on the FIRST day!
Our positive momentum was further combined with the Vote for Your Coin series, further empowering BitMart users to tell us exactly what they wanted to see on our exchange.
With a solid year under our belts, we didn’t let off the gas pedal as we continued to propel BitMart forward as the top digital asset exchange. 2019 was a year of partnerships, expansion, and experimentation in many aspects of our fledgling organization.
We embarked on a sizable experiment when we decided to form BitMart Labs as an incubator for promising and innovative projects. By keeping our eye for new developments and giving them an environment in which to grow uninhibited, we knew that our customers would have first-rate access to exciting projects before they hit the broader market. Whether we were trying to scout the top-tier students at Columbia University or participating in global blockchain conversations in Shanghai or New York’s Consensus Week, we knew they had to be out there somewhere.
Making many friends and collaborators along the way, we were only too proud to announce educational blockchain partnerships too. Stony Brook University and George Mason University believed in us enough to entrust BitMart’s help in ensuring that the next generation of leaders was prepared for this extraordinary market and didn’t get left behind.
Understanding that our customers always wanted to do more with their crypto, we sought partnerships with reputable companies such as CertiK, Yanda, Shrimpy, Genesis Block, and Paxful to improve our offerings of everything from automated portfolio management and top-notch blockchain security to peer-to-peer Bitcoin transactions. Instead of leaving BitMart to complete a crypto-related task, we wanted to make sure that it could all be done right here.
Our hard work and determination did not go unnoticed, and in August, we completed pre-A fundraising with Fenbushi Capital. This financial vote of confidence allowed us to have excellent footing and take chances that we could have only previously dreamed of in the months and years to come.
In recognition of how far we’d come, we even won an award! That’s right, 2019 was when BitMart received the “The Brandlaureate Tech Award” from The World Brands Foundation (TWBF) at the BLOCOMIC - Blockchain Economic Summit.
The crypto industry was now firmly aware that BitMart was a force to be reckoned with, and our fiat channels grew by leaps and bounds. Especially once our partnership with Evolve Bank & Trust was secured, further bolstering our business and allowing us the freedom to host even more leadership events in Vietnam and around the world.
Fresh off the success of 2019, BitMart was ready to “take over the market” by the time 2020 came around, but the world had other plans.
2020 was indeed a year that rocked the entire world. With COVID-19 shuttering down physical spaces, and suddenly paper money becoming a health hazard, the financial markets bottomed out and had everyone questioning what was next as a global pandemic evolved.
Yet even when Bitcoin plummeted down to $6,000 and experts were predicting doom and gloom for society, BitMart soldiered on and decided to improve what still worked – our fantastic exchange and collaborations with blockchain visionaries.
Although the world came to a standstill for most of the year, BitMart improved its trading and network security through strategic partnerships with SlowMist and Hacken and made our exchange rock-solid. With more than 99% of BitMart’s funds stored in offline cold wallets, our asset security improved to prevent hackers from gaining access and implementing an advanced multi-layer and multi-cluster system architecture.
Consistently bullish on crypto and never one to back down from uncertainty, we continued to forge alliances with Canaan Blockchain and CasperLabs to provide staking and cloud computing mining power. As staking grew in popularity, it only made sense for us to further partner with Wootrade to expand upon this.
Many people consider 2020 a “lost year” in finance, business, and global health. Despite the numerous setbacks and lack of global resources, BitMart still managed to round out the year by launching a partnership with Cobo Custody and integrating a futures market onto our exchange. With institutional-grade custody options and advanced trading options just like the largest exchanges, we were becoming more of a household name every day!
As if to spite the crazy year that 2020 was, in 2021, neither the crypto market nor BitMart showed any signs of slowing down. Ready to hop back in the saddle and bring crypto to the world, BitMart listed 585 new tokens and continued to expand at an exponential rate. BitMart Earn was launched in September, with four flexible savings products and four fixed savings products (to the tune of $50 million in volume).
Because we became so beloved and widely used, we had to double our team in 2021 simply to keep up with demand! Topping out at nine million global users for the first time and seeing a 100x increase in daily active users brought a smile to our face like no other. We were busier than ever, but our users stayed happy and kept trading thanks to our seamless crypto to fiat transactions via MoonPay.
Integration with popular sidechain networks like Avalanche, Polygon, Solana, and NEAR Protocol only increased our reach across the broader crypto landscape. It made our exchange seamless with these particular users, and it was clear that we were doing an excellent job when we ranked No. 6 in Financial Services for the Digital 100. We also managed to get to No. 5 in the App Store (under Financial Apps) and No. 3 on CoinGecko!
These superior rankings would have humbled anyone, but our belief in ourselves was once again affirmed by the market at large when we were fortunate enough to receive Series B funding from Alexander Capital Ventures at a $300 million valuation. This partnership was inspiring, as it is the same firm that has invested in companies such as Airbnb, Spotify, and Kraken, putting BitMart publicly on the top shelf with other unique and well-known brands.
As we approached the end of the year, we were in incredibly positive spirits. Unfortunately, some malicious actors decided to spoil our good cheer by compromising our exchange and stealing from our users with reckless abandon. While it’s not the holiday gift that we intended to open, it was a reality that we had to confront. Instead of blaming others or wallowing in our misfortune, we decided to make our users whole and double down on our security efforts to ensure this never happens again.
Despite this unwelcome surprise at the end of the year, 2021 was one of the best years for BitMart in its entire corporate history. Never has the future looked so bright and mainstream adoption of our platform so close. While we recognized that many in the crypto community might still be unaware of BitMart and its numerous products, it was not because we had an inferior service or lacked success in any way.
We realized that 2022 would give us a golden opportunity to start down a new marketing path and awareness campaign to showcase ourselves to the world adequately.
2022 and beyond
We’ve indeed hit the ground running this year, with a renewed sense of vigor and optimism on our growing team. Our security and infrastructure have been a top priority, and we’ve hired more people than ever to continue to serve you and your needs best.
Constructing our NFT market is near the top of the list, along with launching margin trading to improve our futures and spot experience. We’ll also be increasing the functionality of our BMX token and continuing to make crypto to fiat transactions as seamless as possible. While our retail customers will continue to be well taken care of, we’re expanding our services so that institutional and professional traders can also feel right at home.
Our vision for what BitMart can be is constantly improving and innovating. With more than $50 million in investment capital available, you can look forward to us developing strategic partnerships with top performers in the metaverse, DeFi, GameFi, and other spaces so that we’re always your first choice in the crypto space. You’ll see us out and about this year at some big conferences, such as Bitcoin 2022 in Miami and Consensus 2022 in Austin, trying to meet those individuals and organizations that will make BitMart shine even brighter.
We’re radiating with positivity and gratitude about how resilient and innovative the crypto market has been this year and only hope to make more positive contributions to the industry as we move forward. Especially when it comes to compliance and regulations that we wholeheartedly welcome and encourage.
It’s Time to Celebrate!
Most people can’t remember their fourth birthday and can only reminisce on this fantastic time with pictures or videos taken by others. But on our fourth birthday, we’re lucky to have nine million global users to celebrate with us online and cheer us on into the future. It is because of you, our loyal BitMartians, that we have become as successful as we are and continue a positive trajectory into the future.
Even our CEO, Sheldon Xia, is in a festive mood:
“2022 is already proving to be a stellar year for BitMart and the wider crypto space. Increased innovation in the DeFi and metaverse spaces, along with mainstream financial adoption of digital assets, continues rapidly and is reflected in our increasing user base. As we move forward into a bright future, let’s not forget to enjoy our successes along the way. Celebrate with us!”
Therefore, we’d like to invite you to celebrate with us for two weeks of special activities from March 15 - 29. From exclusive NFT giveaways to sign-up bonuses and high yield staking opportunities, we’re going to have something for EVERY crypto lover to enjoy.
BitMart Exchange is the premier global digital assets trading platform with more than nine million users worldwide and ranked among the top crypto exchanges on CoinGecko. Currently offering 850+ trading pairs with one of the lowest trading fees in the industry, we are a constantly evolving and growing platform. To learn more about BitMart, visit our website, follow our Twitter, or join our Telegram for updates, news, and promotions. Make sure to download the BitMart App to easily trade your favorite crypto anytime, anywhere.
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