Cryptocurrencies are soaring in popularity with the potential for enormous payouts. But trading cryptocurrencies takes work, it requires patience, skill, and market knowledge. Choosing a safe crypto exchange is a crucial step for every investor to begin their cryptocurrency trading journey.
That’s where Bitget comes in–this fast and easy cryptocurrency exchange makes it easy for you to enter and exit the market so you can make the most of your investment. Plus, their high-quality customer service is always there to help you out when you need it. In this Bitget review, we will explore its features and how it works in the cryptocurrency market.
- Bitget is a crypto exchange platform that was established in 2018 and offers various trading options, such as spot and futures trading, margin, P2P, and copy trading.
- It supports over 550 digital currencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and many other popular and trending coins.
- This platform values security and customer protection. It has a protection fund of $350 million to cover any potential losses from cybersecurity threats.
Table of Contents
Bitget Review: What is Bitget?
Bitget is a crypto trading platform that started in Singapore in 2018. It has a license from the MAS and operates in many countries, such as Japan, Korea, Vietnam, and the US.
It is popular for crypto margin trading and enables users to purchase, exchange, store, and earn digital assets such as Bitcoin and Ethereum. It provides various services such as copy trading, futures trading, spot trading, and margin trading.
Bitget also offers a Web3 trading wallet that supports 90+ mainnets and 100+ DEXs. It is also one of the largest crypto copy trading platforms in the world, with more than 100,000 elite traders and 410,000 followers. The exchange also has high security, low fees, fast execution, and 24/7 customer service.
(Bitget is offering many special promotion programs for CoinWire. Register your new account via the link below to grab the limited-time offer.)
Bitget Exchange Pros
- Bitget has many crypto services, such as spot, leveraged trading, perpetual contracts, and copy trading.
- It has over 20 million users and supports almost 550 cryptos.
- The exchange has low trading fees, especially for spot trading, where both maker and taker fees are only 0.1%. You can also get a 20% discount by holding the BGB token.
- It has strong security measures and has the Bitget Protection Fund to protect users’ funds in case of any problems.
- The platform has a supportive customer team that works 24/7.
Bitget Exchange Cons
- You may not find low-cap or new altcoins on the platform for trading.
- In December 2022, a Bitget hack occurred, resulting in losing assets valued at $8 million.
Bitget Overview: At a Glance
|Funding Method||VISA, Mastercard, Apple Pay, Google Pay, and other payment methods.|
|Fiat currencies||USD, EUR, JPY, KRW, VND, THB, and 50+ more.|
|Security Measures||2FA, Anti-phishing code, address whitelisting, protection fund|
|Spot Trading Fees||0.1% maker/taker|
|Futures Trading Fees||0.02% maker and 0.06% taker|
|Deposit and Withdrawal Fees||None|
|Mobile App||Android and iOS|
|KYC Requirement||Mandatory (KYC-1)|
The trading charges on Bitget are based on the Maker/Taker module. Makers are traders who add liquidity to the market by placing limit orders, while takers are traders who remove liquidity from the market by placing market orders. Here is the fee overview:
|Trading Fees||Spot Trading: 0.1% maker/takerFutures Trading: 0.02% maker and 0.06% taker|
|Withdrawal Fees||Depend on Network congestion|
Bitget does not impose any fees for crypto deposits. However, you may still face network fees from the blockchain you are sending from or the payment provider’s fees.
Bitget Payment Methods
Bitget exchange supports many payment methods for fiat currencies depending on your country, such as:
- VISA and Mastercard
- Apple Pay
- Google Pay
Bitget has a very low trading fee of 0.1% for both maker and taker orders on the spot market. This fee can be lowered to 0.08% if you use Bitget Token (BGB) to pay the trading fees. Bitget’s spot market fees are similar to Binance’s.
Bitget’s withdrawal fees are not fixed, but they change based on market conditions. You can check the latest withdrawal fees on the Fee Schedule Page. The withdrawal fees depend on the crypto asset and the amount you want to withdraw. For example, the withdrawal fee for BTC (Bitcoin network) is 0.0003 BTC, while the withdrawal fee for Ethereum (ERC20 network) is 0.00034 ETH.
For futures market, Bitget charges a different fee for makers and takers. Makers pay a 0.02% fee, and takers pay a 0.06% fee for each futures trade. The futures fee is taken from your margin balance when you open or close a position.
How to Register and Trade on Bitget Exchange?
Step 1: Register an Bitget account
Step 2: Complete ID verification
Bitget has mandatory KYC verification. If you want to trade without KYC, check our guide on the best no-KYC crypto exchange to find your ideal trading platform.
KYC is a required step that follows the anti-money laundering and counter-terrorism financing rules. You must give your personal details, such as your name, birth date, nationality, and identity document number. Also, you need to upload a photo of your identity document and a selfie with it.
Step 3: Deposit Funds to your Bitget Account
You can add funds to your account with different methods, such as bank transfer, credit card, or cryptocurrency. Everything you need to do in this step is to choose the currency and amount that you want to add, then follow the instructions on the website.
Step 4: Buy Crypto on the Bitget Exchange
To make an order, you need to select the trading pair that you want to trade, such as BTC/USDT or ETH/USDT. Then, choose the order type, such as limit order or market order.
You can see the details of your open orders, such as the price, amount, margin, leverage, unrealized profit or loss, and liquidation price. You can also see the details of your closed orders, such as the execution price, amount, fee, realized profit or loss, and time.
Bitget Exchange Supported Cryptocurrencies
Currently, you can trade over 550 coins and tokens on Bitget with more than 674 spot trading pairs and 100+ futures trading pairs. Some of the most traded pairs are BTC/USDT and ETH/USDT. The exchange has many altcoins and new projects listed.
Here are some popular cryptocurrencies available on the Bitget exchange:
- Bitcoin (BTC)
- Ethereum (ETH)
- Chainlink (LINK)
- Cardano (ADA)
- Axie Infinity (AXS)
- Ripple (XRP)
- Litecoin (LTC)
- Pepe (PEPE)
- Polygon (MATIC)
- Arbitrum (ARB)
Key Features of Bitget Exchange
1. Copy Trading
Bitget copy trading enables a trader to copy the positions held by another trader simply. To copy another trader, you need to set the amount you want to invest, then duplicate whatever your followed trader does in real time. Currently, there are over 100,000 top traders, 410,000 followers, and $350 million realized PnL on Bitget.
Bitget copy trading offers three types of products: futures copy trading, spot copy trading, and bot copy trading.
- Futures copy trading allows you to copy the futures orders of top traders to profit from the price movements of cryptocurrencies. You can also customize your settings such as leverage, position size, stop loss, and take profit.
- Spot copy trading allows you to copy the spot trades of elite traders automatically.
- Bot copy trading lets you subscribe to a strategist or buy a trading bot to automate your trades. You can choose from various strategies and bots based on their performance, trading history, popularity, and price.
2. Bitget Launchpad
Bitget Launchpad lets you invest in new crypto projects on this trading platform. To join Bitget Launchpad, users need to hold BGB, the native token of the Bitget crypto exchange. Users can get lottery tickets by holding BGB, and these tickets let you buy tokens from new projects. The more BGB you have, the more tickets you can get.
Bitget Launchpad program has successfully launched many projects from gaming, NFTs, Metaverse to DeFi. These include T2T2, TYPE, CryptoBlades, PolkaWar, PolkaCity, and many more. The Launchpad helps crypto startups use Bitget’s resources to grow their brand and community. Investors can find good projects at early stages and benefit from token growth and other incentives.
3. Strategic Trading
The strategic trading feature enables users to access, create, or follow strategies that use intelligent bots to place orders based on preset conditions. These strategies are crafted by expert strategists and specialists with deep knowledge of the crypto market.
Users can select from various strategies, such as grid, DCA, or automatic investment, and copy them with one click. Strategy trading aims to give users more options and flexibility in their trading, as well as to help them learn from the best traders and enhance their skills.
Bitget also provides a Strategy Plaza, where users can explore different profiles and performance of strategists, and buy or follow their strategies for a fee.
4. Futures Trading
Bitget futures trading exchange enables users to trade crypto with leverage, meaning that investors can increase their profits or losses by borrowing funds from the trading platform.
It offers three kinds of futures contracts: USDT-Margined, USDC-Margined, and COIN-Margined. USDT-Margined and USDC-Margined contracts are settled in stablecoins, while COIN-Margined contracts are settled in the crypto. You can buy (long) or sell (short) Bitcoin (BTC), Ethereum (ETH), and other crypto with different leverage levels, ranging from 1x to 100x.
Bitget also offers “Quanto Swap Contracts”. It lets you use various coins as a margin for cross-currency transactions. For instance, you can trade BTC/USDT, ETH/USDT, or LTC/USDT with BTC or ETH as a margin. This way, you can have more options and convenience in managing your funds and mitigating risks.
Another advantage of the Quanto Swap Contract is that you can get both trading interests and gains from the price rise of the coins you hold as margin. For example, if you trade BTC/USDT with BTC as a margin, you can get interest from the funding rate of the contract and also profit from the increase in BTC’s price.
(Bitget is offering many special promotion programs for CoinWire. Register your new account via the link below to grab the limited-time offer.)
5. Spot-Margin Trading
Spot trading is simple. You buy or sell crypto at the market price. Margin trading is more complex. You borrow money from the exchange or others. You can trade more and earn more. But you can also lose more and pay more fees.
Bitget offers two types of margin trading: cross-margin and isolated-margin. Cross margin uses all your coins in your margin account as collateral. This can lower your risk and avoid liquidation, while isolated margin only uses one coin pair as collateral. This can give you more options and power over your positions. Bitget gives you up to 10x leverage for isolated margin and 3x for cross margin in USDT.
Bitget also has auto-borrowing and auto-repaying features to make it easier and faster. You can also use stop-loss orders to protect your positions from price changes and liquidations.
6. Bitget Mobile App
The Bitget mobile app is compatible with both iOS and Android devices. It has the same features as the web version. You can mimic the orders of elite traders, automate your trading with bots, and generate passive income with Bitget Earn. You can also quickly deposit and withdraw cryptocurrencies (or fiat) with the mobile app.
The Bitget mobile app is easy for beginners and experienced traders. It is designed to provide a simple user interface and a secure way to trade crypto anytime, anywhere. You can download the app from the App Store or Google Play Store.
Bitget Earn Products and Services
Staking is a method of generating passive income by locking your crypto assets in a smart contract and verifying transactions on a proof-of-stake (PoS) network. Bitget provides staking products for various PoS coins, such as ATOM, SOL, MATIC, and more.
You can select from different durations and APRs and benefit from the compound interest. Staking on Bitget is secure, convenient, and flexible. You can withdraw your assets anytime and get your principal and interest within one working day. Bitget also supports cross-chain staking.
Crypto loans are a form of collateralized lending that enables you to borrow crypto assets by pledging another crypto asset as collateral. Bitget offers crypto loans for various pairs, such as USDT/BTC, USDT/ETH, USDT/USDC, and more.
You can borrow up to 70% of the value of your collateral and enjoy low interest rates and flexible repayment terms within minutes of applying for your loan. Additionally, Bitget also provides risk alerts and margin calls to help you manage your loan.
With Bitget Dual Investment, users can earn profits with two different cryptocurrencies. Users need to select a base currency (such as USDT) and a target currency (such as BTC) and set a target price for the target currency.
Suppose the target currency reaches or surpasses the target price within the subscription period. In that case, users will get the target currency as the payment currency. If the target currency fails to reach the target price within the subscription period, users will get the base currency as the payment currency. In this case, you may incur losses based on the target currency price.
For example, if you subscribe to a dual investment product that allows you to sell ETH at $1,500 (target price) using USDT (base currency) with a settlement date in one week, you will receive either ETH or USDT as the payment currency. If ETH reaches or surpasses $1,500 on the settlement date, you will sell your ETH at $1,500 and receive USDT. If ETH fails to reach $1,500 on the settlement date, you will keep your ETH and receive it back. In this case, you may incur losses if the market price of the target currency (ETH) changes.
The annualized rate of return (APR) of dual investment depends on the market situation and the target price chosen by the user.
Bitget Shark Fin is a crypto product for investors who want to grow their crypto with low risk and high yield. It is a capital-guaranteed and low-risk structured investment product. It is made for investors who like steady income and less risk.
Investors can invest in the tokens they want from Bitget Shark Fin products. Users can see the estimated APR, price range, subscription period, and price range predictions. They will get their principal and yield back after the maturity date. Bitget Shark Fin is a lock-up product, so they cannot redeem it before the maturity date.
Bitget Customer Support
Bitget has a help center to support users with questions or problems. You can reach Bitget’s support team in different ways. It depends on what you need help with. For example:
- If you have questions about the Bitget global trading platform, you can email email@example.com or send a ticket through the help center. You can also talk to Bitget’s online support on the website or app.
- If you have questions about the Bitget wallet, you can email firstname.lastname@example.org.
- If you have questions about P2P trading, use the “customer service join chat” feature on the P2P trade page. This will let a support agent join the chat and solve any issues or disputes.
Bitget’s customer support team is available to help you 24/7. They try to give you fast and professional service. Bitget also has a FAQ section on its website. It has answers to common topics and questions about its features and options.
Bitget cares about security and privacy a lot. It uses many ways to keep its users’ data and assets safe. Here are some of its security measures:
- Encryption and Hashing: Bitget changes data into secret codes that need a key to open. It also makes unique values from any data. Bitget hashes essential data, like passwords and keys, and mixes them before saving them on its servers. This way, no one can use or change the data if it is lost or taken.
- Two-Step Verification (2SV): It asks users to enter a code from a device or app when they log in or take out money. This ensures that no one can get in if they know the password.
- Anti-Phishing Code: The exchange lets users make an anti-phishing code to put in emails from Bitget. This helps users to know real emails from it and avoid bad links or files.
- Cold and Hot Storage: This exchange keeps users’ money in different cold and hot storage. Most of the funds are in cold storage wallets, which are safer and more complicated to hack. Only a few funds are kept in hot wallets, which are used for daily transactions.
- SSL Labs Certificate: Bitget got 12 A+ scores at SSL Labs, a big name in web security. SSL Labs checks the security of websites and servers based on many things, like encryption power, protocol support, certificate truth, and weakness finding.
Bitget is dedicated to keeping a $350 million emergency insurance reserve for its customers. The exchange platform has pledged to grow the fund to a sizable level through a portion of trading fees to safeguard users.
Lastly, the platform has also received regulatory approval in the United States (MSB Cryptocurrency Trading License) and Poland (VASP approval). This implies they have obtained permission to operate, even in nations where cryptocurrencies and exchanges are strictly limited.
Conclusion: Is Bitget Legit?
To summarize the review article, Bitget is a legit and trustworthy crypto exchange. If you are into crypto trading, you cannot ignore Bitget. With this cryptocurrency trading platform, you can trade futures, copy other traders, buy and sell spot, and use smart bots to manage your portfolio.
Bitget Exchange Review: FAQs
Is Bitget Legal in the USA?
Yes, Bitget is legal in the USA. This trading platform possesses a US MSB license under US Regulation, and that is why it is permitting US customers to undergo KYC. However, you may not be able to access some products, such as futures trading and margin trading in the USA.
Is Bitget a safe platform?
Yes, Bitget is a safe platform. It provides many security features such as password hashing, 2FA, mandatory KYC, cold storage, and protection funds. It also maintains transparency through quarterly reports and the innovative Proof-of-Reserves (PoR) system demonstrating 1:1 reserve funds.
Does Bitget require KYC?
Yes, Bitget requires Know Your Customer (KYC) procedures for all users. These procedures involve identity verification for KYC level 1 and address verification for KYC level 2, ensuring that users are who they claim to be and helping prevent fraudulent and illicit activities.
To optimize the KYC process, Bitget uses eKYC technology, including facial recognition and auto cross-matching between provided identification and live self-portraits, making the identity verification process easy.
Where is Bitget located?
Bitget has a registered office in Seychelles and is based in Singapore. The company has over 1300 employees and is available in 100 countries, including Canada and the US.
Which is better Binance or Bitget?
Bitget supports more cryptocurrencies than Binance (over 550 vs. 350) and has more crypto-to-crypto trading pairs. However, both exchanges have the same spot trading fee (0.1%) and require KYC verification for all users.
Binance has a high trading volume compared to Bitget and is more popular regarding user base and global presence (150M users vs. 20M). Binance also has a dedicated NFT marketplace for artists, whereas Bitget doesn’t.