Overview:
This Bitget review offers readers a thorough overview of the platform’s features and services. It covers various aspects, including trading options, fees, security protocols, and customer support, providing a detailed examination of the Bitget exchange experience. Regardless of whether you’re an experienced trader or a beginner, this review will equip you with the necessary information to make knowledgeable choices about using Bitget for your cryptocurrency trading requirements.
What is Bitget Exchange?
Bitget, a prominent cryptocurrency exchange established in 2018 by Sandra Lou (CEO and Co-founder), provides a robust platform for trading digital assets. It features over 800 cryptocurrencies and a diverse array of trading pairs. With more than 10 million registered users and an average daily trading volume of $10 billion, Bitget is a dependable option for both beginner and seasoned traders.
The exchange ranks among the Top 5 in the industry for derivatives volume and is noted as the leading platform for copy trading by volume. It operates under licenses in five countries, including the USA and Canada, where it has an MSB license, and Australia, where it is authorized to operate as a digital currency exchange (DCE). Additionally, Bitget holds licenses for Lithuania and Italy, allowing it to offer financial services in 11 countries, making it a secure and regulated platform for cryptocurrency trading.
How Does Bitget Exchange Work?
Bitget is an easy-to-use cryptocurrency exchange that provides services for spot trading as well as derivatives. copy trading The straightforward sign-up process, along with its availability on both web and mobile platforms, allows a diverse group of traders to easily access the service. The platform focuses heavily on derivatives and copy trading, using perpetual futures contracts for derivatives and offering leverage up to 125x.
Additionally, Bitget stands out for its outstanding rewards for customers, making it a strong contender in the market. The user-friendly interface enhances the trading experience, making it smooth and easy to navigate. Whether you’re an experienced trader or a beginner, Bitget provides a comprehensive platform to fulfill all your cryptocurrency trading needs. If you want to trade Bitcoin and altcoins with leverage of up to 125x, Sign up for Bitget today using this special link and qualify to receive a bonus of as much as $6,200.
How to Register on Bitget Exchange?
Registering on the Bitget cryptocurrency exchange is simple and uncomplicated. Follow this step-by-step guide to kick off your journey:
Step 1: Go to the official Bitget website and select the “Sign up” button.
Step 2: To begin, enter your email address or phone number and create a password for your new Bitget account.
Step 3: A verification code will be delivered to your email or mobile number. Please use it to confirm your account.
Step 4: After logging in, navigate to the top right corner of the homepage, click on the profile icon, and select “ID Verification” from the dropdown menu.
Step 5: On the updated “ID Verification” page, select the “Individual verification” option and enter the required information pertinent to your country.
- It is recommended that you finish the ID verification process, as doing so will improve your trading experience on the platform by granting access to additional features. You will need to provide the following details.
Bitget Exchange Services And Features
Bitget Exchange is an all-in-one platform designed to meet your digital asset requirements. It provides various services, including the direct buying and selling of cryptocurrencies, along with spot and derivatives trading. The platform also includes advanced features like copy trading, spot-margin trading, and strategy trading, which equip traders with a variety of tools and options to improve their trading experience. Let’s explore these services in more detail to see what they provide.
Bitget Quick Buy/Express Crypto
To buy and sell cryptocurrency with ease, simply select a fiat currency, choose a cryptocurrency, and pick a payment method. The entire process is fast and uncomplicated, taking just seconds to finish. To use the Quick Buy/Express feature, navigate to the “Buy Crypto” tab and click on “Quick Buy/Express.” This will direct you to a specific page where you can make your choices and finalize the transaction quickly.
Spot Trading
Bitget is a centralized exchange that recognizes the significance of providing a spot trading option. While it is primarily recognized for its derivatives and copy trading features, the exchange has not neglected its spot market. Bitget currently supports trading for over 400 different cryptocurrencies in its spot market. To access the Bitget Spot Market, simply click on the “Trade” tab located at the top left and select the “Spot” option. This will direct you to the spot trading interface, where you can choose your desired trading pair. You’ll have access to candlestick charts for that pair and can place your order right below the chart.
Futures Trading
Futures trading is a major attraction of the Bitget exchange. It provides various types of futures trading, including USDT-M Futures, USDC-M Futures, and Coin-M Futures. In futures trading, participants agree to buy or sell a cryptocurrency, like Bitcoin (BTC), at a predetermined price and time in the future. This trading method is classified as a derivative since transactions are based on the cryptocurrency’s value rather than the cryptocurrency itself. Bitget allows futures trading with leverage of up to 120x, with the specific leverage varying depending on the trading pair selected. Positions can be opened in the following ways:
- Cross: All the funds in the futures account can be used as margin, which helps distribute the risk and increases the account’s ability to withstand losses.
- Isolated: The risk associated with each opened position is assessed separately.
Bitget provides three categories of futures trading: COIN-M Futures, USDT-M Futures, and USDC-M Futures. The key difference among these options lies in the currency used for settlement. In USDT-M Futures and USDC-M Futures, trades are settled with USDT and USDC, respectively. In contrast, COIN-M Futures involves settling trades in a particular cryptocurrency, like Bitcoin or Ethereum.
You can navigate to the Futures trading screen by selecting the Futures trading options located in the “Trading” tab. This will direct you to the trading interface, where you can open a position once you have selected your trading pair.
Copy Trading
Copy Trading is an investment approach that allows investors or traders to replicate the trades, strategies, or positions of others. If you’re an investor, you can automatically and instantly mirror the transactions of other investors using an exchange like Bitget. The Copy Trading feature offered by Bitget allows users to imitate the strategies of other traders on the platform for improved outcomes. This service is free, enabling anyone to follow and copy the strategies and portfolios of any trader without any fees. Traders can earn up to 8% of their followers’ profits, which encourages them to develop effective strategies through copy trading. Novice investors can select skilled traders with high rankings and a strong profit and loss history to increase their chances of success.
To start Copy Trading on Bitget, you can follow these straightforward steps:
- Select the trader you wish to “Follow.”
- Choose the trading pair that you wish to replicate.
- Select either a fixed ratio or a fixed account.
- Pick the leverage type.
- Set the leverage.
- Select either isolated mode or cross mode.
- Examine the copy trading data or make any required adjustments.
- Finally, close the position.
Spot-Margin Trading
Bitget’s Spot margin trading allows traders to utilize leverage in the Spot market. With this option, you can open long positions using leverage, as Bitget offers 3x leverage for cross-margin trading and 10x leverage for isolated-margin trading. This means you can trade amounts of cryptocurrency that far exceed your actual holdings.
Bitget also provides the option to borrow the cryptocurrency you wish to short, enhancing your trading flexibility and potential for larger profits. Loan repayments are automatically processed upon closing the position, making the borrowing and leveraged trading process simple and efficient. Furthermore, Bitget supports multi-currency collateral options, enabling you to use various cryptocurrencies as collateral for your trades.
To access Spot-Margin trading services, simply click on the Spot-Margin trading option located in the “Trading” tab.
Strategy Based Trading On Bitget
Bitget’s Strategy Trading is an innovative product line that provides a distinct method for trading digital assets. It consists of two main services: free strategy bots available for users and strategy deals and subscription services for strategists. The free strategy bots assist traders in optimizing their investments and enhancing their profitability.
Currently, 8 different grid strategies are offered, including Spot & Future grids and DCA strategies, with plans to introduce more in the future.
A key feature of Bitget’s Strategy Trading is the option to replicate strategies devised by strategists, either automatically or manually. By subscribing to a strategist, users can mirror all their strategies, leveraging the strategist’s knowledge and skills.
Users are billed according to their account’s fee rate, whether they create or replicate strategies, with no extra charges from the platform. In summary, Bitget’s Strategy Trading presents a unique and user-friendly solution for traders aiming to enhance their investment returns.
Is Bitget Exchange Secure?
Bitget is a well-regulated platform with licenses for operations in Canada, Australia, Italy, Lithuania, and the United States, including MSB licenses in both Canada and the U.S., as well as a DCE license in Australia. In addition to these regions, Bitget is also fully compliant in Brazil, Europe, Russia, India, Vietnam, Singapore, the Philippines, Japan, and Korea, holding further licenses. Renowned for its robust security measures, Bitget employs strict protocols to safeguard users’ assets, including the use of separate hot and cold wallets and two-factor authentication.
The platform boasts 12 A+ ratings from SSL Labs, reflecting its dedication to providing users with a secure environment for digital asset trading. With extensive regulations and a strong emphasis on security, Bitget is recognized as a secure exchange in the digital asset market. Additionally, Bitget distinguishes itself with a $300 million protection fund and a Merkle Tree Proof of Reserves, which together enhance security and confirm that the exchange maintains adequate reserves of user assets.
Bitget KYC Requirements
Know-your-customer (KYC) verification is a process that financial institutions and regulated entities use to verify an individual’s identity. Bitget has largely operated without KYC requirements, but starting September 1, 2023, the platform is implementing mandatory KYC verification for all users to improve security and enhance user experience. Users who do not complete the KYC process will face restrictions on accessing certain features, ensuring a safer trading atmosphere. The verification process is straightforward and basic-level verification requires minimum documents such as a valid government-issued ID Card, Passport, or driver’s license.
Bitget Fees
Bitget is an all-encompassing digital asset platform that offers users a wide range of trading options and services. A prominent aspect of Bitget is its competitive and clear trading fee model. The platform features several fee incentives, such as no fees for cryptocurrency deposits and lower transaction fees for Spot trading. For Spot trading, the standard fee is 0.1% for both Makers and Takers.
However, if users opt to pay Spot trading fees with BGB, they can benefit from a 20% discount. Furthermore, withdrawal fees on Bitget are adjusted according to the market, ensuring that users pay fair and competitive rates, which also vary based on the selected cryptocurrency and network. For Futures trading, the fees are set at 0.02% for makers and 0.06% for takers, making it an economical choice for futures trading on the platform.
Additionally, there are no extra costs associated with copy trading, though up to 10% of any profits earned will go to the trader being followed, with the specific percentage depending on the number of BGB coins the trader holds and locks. In summary, Bitget provides a transparent and competitive fee structure with various options and incentives tailored to meet users’ trading requirements.
Deposits and Withdrawals
Bitget provides various methods for depositing and withdrawing funds. It supports over 40 fiat currencies, enabling users to buy a broad range of cryptocurrencies without facing conversion fees. The platform has collaborated with companies like Simplex, Banxa, and Mercuryo, allowing users to purchase more than 300+ different coins and tokens using credit/debit cards, Apple Pay, and Google Pay. Additionally, Bitget features a P2P marketplace for trading cryptocurrencies, offering more payment options such as TransferWise, Adv Cash, Cashapp, Zelle, Neteller, Skrill, Uphold, and bank transfers.
Cryptocurrencies Supported by Bitget Exchange
Bitget offers support for more than 800 cryptocurrencies, which includes the popular ones such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Ripple (XRP)
- Polygon Matic (MATIC)
- TON (TON)
- Binance Coin (BNB)
- Tron (TRX)
Bitget Exchange Pros and Cons
Pros | Cons |
Beginner Friendly UI/UX | High fee for direct crypto purchases |
Direct Crypto Purchases | Complex functions can be intimidating for those just starting out. |
Copy Trading | Accessible in the US only with a VPN |
Strategy Trading | |
Regulated Exchange | |
Proof of Reserves | |
A $300 million protection fund provides an additional level of security. |
Conclusion: Is Bitget a Secure Exchange For Trading?
In summary, Bitget is a legitimate and compliant global exchange that is registered with regulatory bodies. The platform holds the necessary licenses and adheres to regulations. It is well-regarded in the crypto community for its security measures, which align with industry standards. While it is designed to be user-friendly for beginners, the trading concepts and products are more suitable for experienced traders. Bitget offers innovative features like copy trading and strategy trading, making it appealing to those interested in passive trading.
However, it is important to note that while Bitget allows direct buying and selling of cryptocurrencies, this service comes with a high fee. If you’re interested in trading Bitcoin and altcoins with leverage of up to 125x, consider signing up on Bitget today (exclusive link) and become qualified to receive a bonus of as much as 6200 USDT.
Frequently Asked Questions – FAQs
Is Bitget a good exchange?
Indeed, Bitget is highly regarded within the cryptocurrency community.
Can you trade on Bitget without KYC?
No, in adherence to the global KYC and AML policies Bitget now requires all users to complete the KYC process starting on September 1, 2023.
Is Bitget trusted?
Bitget enjoys a strong reputation and is relied upon by numerous traders.
What are the trading fees on Bitget?
On the Spot Market, Bitget charges a 0.1% The trading fees apply to both Makers and Takers. In the case of Futures, fees are applied to Makers. 0.02%, while takers have to pay 0.006%.
Is Bitget a Scam?
Bitget is a genuine cryptocurrency exchange that has more than 8 million registered users.
Can you use Bitget in the USA?
Bitget can only be accessed in the USA using a VPN.
