If you’re looking at BIT crypto exchange as a place to trade Bitcoin options or high-leverage futures, you’re not alone. Since its launch in August 2020, BIT.com has carved out a niche as one of the most technically advanced derivatives platforms in crypto - especially for traders who want deep liquidity and complex tools. But here’s the catch: it’s not for everyone. And if you’re in Canada, the U.S., or even Singapore, you can’t even sign up. That’s just the start of the story.
What BIT.com Actually Offers
BIT.com isn’t just another crypto exchange. It’s built by Matrixport, a Singapore-based fintech unicorn valued at over $1 billion, and backed by Jihan Wu, co-founder of Bitmain. That’s not just a name-drop - it means real infrastructure. The platform supports 65 spot trading pairs, 110 futures pairs, and 3 options pairs, all with deep order books. What sets it apart? Bitcoin options. In 2021, BIT.com hit $6 billion in daily Bitcoin options volume, making it the second-largest in the world. That kind of liquidity doesn’t happen by accident.Traders get access to leverage up to 1:100 on futures and 1:7.69 on spot trades. Fees are low: 0.04%-0.06% for spot, and as low as 0.01% for futures if you hit VIP 5 or higher. The platform uses USDT as the main margin currency, which keeps things simple for most users. Minimum deposit? Just $20. Withdrawals start at $10. For crypto-only exchanges, that’s fairly accessible.
The Security Setup - And Why It’s Still Risky
BIT.com doesn’t rely on cold storage alone. It uses a two-tier risk system: a proprietary liquidation engine that automatically closes positions before they blow up, and a $200 million+ insurance fund backed by over 200 BTC. That’s a lot of safety net. For institutional traders, this is reassuring. But here’s where things get messy.Independent rating agency Traders Union gave BIT.com a 2.61 out of 10 - the lowest possible rating before “highly dangerous.” Why? Not because of hacks or technical failures. It’s about transparency and regulation. The exchange doesn’t publish regular audits. It doesn’t disclose where funds are held. And it operates in a legal gray zone. While Matrixport is regulated in Singapore, BIT.com itself isn’t licensed in any major jurisdiction. That’s a red flag for anyone who cares about legal protection.
Who Can Actually Use BIT.com?
This is the dealbreaker for most people. BIT.com blocks users from:- Canada
- United States
- Japan
- Singapore
- China Mainland
- Hong Kong
- Iran, Syria, North Korea
- And over a dozen other territories
That’s not a typo. If you live in Canada, you’re locked out. Even if you’re in Toronto, London, or Sydney, you can’t sign up. The exchange explicitly avoids markets with strict crypto regulations. That’s not a coincidence - it’s a strategy. They’re targeting jurisdictions with lax oversight, which is why the risk rating is so low. If you’re in a restricted country, using a VPN to access BIT.com violates their terms. And if they catch you, your account gets frozen with no recourse.
Advanced Tools for Serious Traders
For those who can access it, BIT.com is packed with professional tools. The Portfolio Margin feature uses scenario analysis to calculate risk across your entire portfolio - not just single trades. That’s something you’d expect from a hedge fund platform, not a retail exchange. There’s also copy trading, where you can follow professional traders and share up to 15% of their profits. The API is robust, supporting algorithmic trading with low-latency connections. And if you’re into cloud mining, BIT.com offers that too - though it’s not as competitive as dedicated mining pools.The mobile app works smoothly. The web interface is clean, with customizable dashboards and real-time P&L tracking. Order types include limit, market, stop-limit, and trailing stop. Minimum order sizes are low: 0.001 BCH, 0.0001 ETH, 0.01 DASH. That’s good for small traders who want precision.
The Affiliate and Referral Program
BIT.com runs one of the most aggressive affiliate programs in crypto. Referrers can earn up to 80% of trading fees from users they bring in. That’s higher than Binance, Kraken, or Bybit. It’s designed to grow through word-of-mouth, not ads. You’ll see a lot of influencers promoting BIT.com on Telegram and YouTube - especially in Latin America, Southeast Asia, and Africa. But again, if you’re in a banned country, you can’t join the program either.
Customer Support and Reliability
Support is available 24/7 via live chat, Telegram, and email. Response times are usually under 15 minutes during peak hours. That’s better than most exchanges. But there’s a pattern: users report that while support is fast, they’re often unable to help with account freezes, withdrawal delays, or KYC rejections. If you get flagged for “suspicious activity,” there’s no appeal process. That’s not customer service - that’s operational opacity.Is BIT.com Worth It?
If you’re a professional trader outside the U.S., Canada, or EU - and you want to trade Bitcoin options with deep liquidity and high leverage - BIT.com is one of the best platforms available. The tech is solid. The volume is real. The tools are advanced.But if you care about safety, regulation, or legal protection? Walk away. The lack of licensing, the blocked countries, and the near-zero trust score from independent analysts aren’t just warnings - they’re red flags that could cost you everything. This isn’t a place for beginners. It’s not even really for casual traders. It’s for experienced users who understand the risks and are willing to operate in a legal gray zone.
Compare it to Binance or OKX: those platforms have global licenses, clearer compliance, and higher trust scores - even if their Bitcoin options volume isn’t as high. BIT.com trades on speed and complexity, not trust. And in crypto, that’s a dangerous combination.
Alternatives to Consider
If BIT.com is off-limits to you, here are three solid alternatives:- Binance: Best overall for spot and derivatives. Licensed in multiple regions. Lower leverage (1:125 max), but much higher transparency.
- OKX: Strong options market, good UI, and supports fiat on-ramps in many countries. Higher security ratings.
- Deribit: The original Bitcoin options leader. No fiat, but 100% crypto-focused and regulated in the Netherlands. Trusted by institutions.
None of these are perfect, but they all operate with more accountability than BIT.com.
Can I use BIT.com if I live in Canada?
No. BIT.com explicitly blocks users from Canada, along with the U.S., Japan, Singapore, and several other countries. Even using a VPN to access the platform violates their terms of service and can result in permanent account suspension without warning or refund.
Is BIT.com safe to trade on?
Technically, yes - it has strong infrastructure, a $200M+ insurance fund, and no major hacks. But legally and ethically, it’s risky. The exchange lacks licenses, doesn’t publish audits, and operates in regulatory gray zones. Independent ratings give it a 2.61/10 for risk. If you lose funds due to platform failure or regulatory action, you have no legal recourse.
What’s the minimum deposit on BIT.com?
The minimum deposit is $20 USD equivalent in any supported cryptocurrency. For Bitcoin, that’s roughly 0.0005 BTC. Withdrawals require a minimum of $10 USD equivalent. These thresholds are low compared to most professional exchanges.
Does BIT.com offer fiat deposits?
No. BIT.com only accepts cryptocurrency deposits and withdrawals. You can’t deposit CAD, USD, EUR, or any fiat currency directly. To get funds onto the platform, you must first buy crypto on another exchange and transfer it to your BIT.com wallet.
How does BIT.com’s options trading compare to Deribit?
BIT.com has higher daily volume and more flexible contract sizes, but Deribit is older, regulated in the Netherlands, and trusted by institutions. Deribit offers more expiration dates and deeper liquidity for less common strike prices. BIT.com wins on speed and volume; Deribit wins on reputation and compliance.
Are there any hidden fees on BIT.com?
There are no hidden fees for trading, but funding rates on perpetual contracts can be high during volatile markets. Withdrawal fees vary by coin - for example, ETH withdrawals cost around $1-$3, while BTC fees are typically under $0.50. The platform doesn’t charge for deposits or inactivity, but you’ll pay network fees when moving crypto in or out.
Comments
1 Comments
Gavin Francis
This is actually one of the cleaner crypto reviews I've seen in a while. Solid breakdown. I've been using BIT for months and yeah, the leverage is insane but you gotta treat it like a scalpel, not a hammer. 1:100 ain't a toy, it's a trap if you're not disciplined. Still, the order book depth is unreal. 🙌
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