Bit.com Exchange Review 2023 - Is It Safe?

Bit.com is a cryptocurrency derivatives trading platform that focuses on Bitcoin futures and options trading. It is a subsidiary of Bitmain, which is one of the world's largest cryptocurrency mining equipment manufacturers. Bit.com was launched in May 2020, and it has quickly become one of the leading cryptocurrency derivatives exchanges. 

Trading Platform

The Bit.com trading platform is designed to be user-friendly and intuitive, with a simple and easy-to-use interface. The platform is available in both desktop and mobile versions, and it offers a range of trading tools and features. Users can trade Bitcoin futures and options contracts on the platform, with leverage of up to 100x. The platform also allows for the trading of perpetual swaps, which are similar to futures contracts but have no expiry date.
The Bit.com trading platform is powered by a high-performance matching engine, which can process up to 100,000 transactions per second. This ensures that trades are executed quickly and efficiently, even during periods of high market volatility. The platform also offers a range of order types, including limit, market, stop-loss, and take-profit orders. This allows traders to set specific entry and exit points for their trades, which can help to minimize their risk and maximize their profits.

Fees

Bit.com charges competitive fees for its trading services, with a maker fee of 0.02% and a taker fee of 0.05%. This fee structure is in line with industry standards and is lower than many other cryptocurrency derivatives exchanges. Bit.com also offers a rebate program for market makers, which allows them to earn a rebate of up to 0.03% on their trades. This can help to incentivize liquidity on the platform and ensure that there are always buyers and sellers available.

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Customer Support

Bit.com offers a range of customer support options, including a help center, email support, and live chat. The help center contains a range of articles and FAQs that can help users to resolve common issues and answer frequently asked questions. Email support is available 24/7, and users can expect a response within 24 hours. Live chat support is available during business hours and is staffed by knowledgeable and helpful support agents.

Security

Bit.com takes the security of its platform and its users' funds very seriously. The exchange uses advanced security measures, including two-factor authentication (2FA) and SSL encryption, to ensure that users' accounts are protected from unauthorized access. Bit.com also keeps the majority of its users' funds in cold storage, which means that they are not accessible via the internet and are therefore less vulnerable to hacking attempts.

Regulation

Bit.com is registered with the Seychelles Financial Services Authority (FSA), which is an internationally recognized financial regulatory body. This provides users with a level of regulatory oversight and protection, as the FSA is responsible for monitoring and supervising the activities of registered financial service providers in the Seychelles. However, it should be noted that the Seychelles is not considered to be a highly regulated jurisdiction, and users should exercise caution when trading on unregulated exchanges.
Conclusion
Bit.com is a reliable and trustworthy cryptocurrency derivatives exchange that offers a range of trading services and features. Its user-friendly trading platform, competitive fees, and excellent customer support make it an attractive option for both experienced and novice traders. The exchange's commitment to security and regulation also ensures that users' funds are protected and that the platform operates in a transparent and trustworthy manner. Overall, Bit.com is a solid choice for anyone looking to trade Bitcoin futures and options contracts.