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Bitget Exchange Review 2024

In this Bitget exchange review, we reference its services and features. Here, we cover trading options, fees, security, and Bitget customer support, offering insights into Bitget. 

This article is helpful for both experienced traders and beginners, helping them decide if Bitget is suitable for their crypto trading.

Table of content

Bitget Review: Key Aspects

✔️ Bitget offers over 400 cryptocurrencies and is well-known for derivatives and copy trading.

✔️ The platform is licensed in multiple countries, including the USA and Canada, and prioritizes security with advanced measures like two-factor authentication and a substantial protection fund.

✔️ Starting September 2023, Bitget requires all users to complete KYC (Know-Your-Customer) verification to enhance platform security.

✔️ It features low trading fees and additional discounts for using its native token, BGB, and offers free crypto deposits.

✔️ The platform provides multiple trading services such as spot-margin trading, futures trading, and unique strategy trading with easy-to-use interfaces for traders of all levels.

Bitget Pros & Cons

Here, we explore the pros and cons of the Bitget exchange and offerings.

Pros

Lots of Cryptocurrencies: Over 400 cryptocurrencies are available, offering a broad selection for trading.

Trading Options: Includes derivatives, spot, and copy trading, catering to various trading preferences.

Competitive Fees: Low Bitget trading fees with additional discounts when using BGB (Bitget's native token).

Strong Security: Implements two-factor authentication, hot and cold wallet segregation, and a substantial protection fund.

Global Presence: Licensed in multiple countries, including the USA and Canada, ensuring regulatory compliance and a secure trading environment.

User-Friendly Interface: Easy-to-navigate platform, suitable for both beginners and experienced traders.

about-bitget-global-exchange-review-pros-cons

Cons

Mandatory KYC: From September 2023, all users must complete KYC, which might be a hurdle for those seeking anonymity.

Limited Access: While globally licensed, certain countries may still have restrictions or few services.

Withdrawal Fees: Withdrawal fees depend on market conditions and cryptocurrency type, which can sometimes be higher than expected.

Bitget Exchange Explained

Bit get Exchange is a top cryptocurrency platform founded in 2018 by CEO Sandra Lou. It offers over 400 cryptocurrencies and various trading pairs. With 8 million users and a daily trading volume of $10 billion, Bitget is popular among new and seasoned traders. 

It ranks among the top 5 for derivatives trading and is the leading platform for copy trading. Licensed in five countries, including the USA, Canada, and Australia, Bitget global is a secure, regulated choice for crypto trading in 11 countries.

It's easy to sign up and available on the web and mobile, focusing on derivatives and Bitget copy trading with up to 125x leverage. Known for great rewards, its interface is simple and easy to use.

Bitget Exchange Features

Bitget is dedicated to digital asset trading. It covers buying and selling cryptocurrencies, along with spot and derivatives trading. The platform has unique features like Bitget copy trading, spot-margin, and strategy trading. 

bitget-crypto-exchange-trading-futures-company-site

These tools offer traders various ways to improve their trading experience. Let's explore these services in more detail.

Quick Buy/Express

Bitget offers a Quick Bitget Buy crypto/Express service for easy cryptocurrency transactions. To use it, pick a fiat currency, choose a crypto, and select a payment method. 

The process is fast and straightforward. Access this feature under the “Buy Crypto” tab by clicking “Quick Buy/Express.” This leads to a page where you can swiftly finalize your transaction.

Spot Trading

Bitget crypto, a centralized exchange, offers a robust spot trading feature alongside its popular derivatives and copy trading services. It provides a selection of over 400 cryptocurrencies for spot market trading. 

Accessing Bitget's Spot Market is easy: click the “Trade” tab and choose “Spot.” This leads to the spot trading interface, where you can select your trading pair and view candlestick charts, allowing you to place orders directly.

bitget-copy-trading-spot-fees

Bitget Futures Trading

Bitget's Futures trading is a key feature, offering USDT-M, USDC-M, and Coin-M Futures. This trading involves contracts to buy or sell a crypto asset at a future date and price based on its value rather than owning it directly.

Bitget company provides leverages up to 120x, varying with the trading pair. Futures accounts can use either:

  • Cross Margin: Utilizing all funds in the account to spread risk.
  • Isolated Margin: Independent risk calculation for each position.

Bitgets three futures options differ by settlement currency: USDT-M and USDC-M Futures settle in USDT and USDC, respectively. In contrast, COIN-M Futures settle in a specific cryptocurrency like Bitcoin or Ethereum Classic.

To start futures trading, go to the “Trading” tab, select Futures, choose a pair, and open a position on the trading screen.

Copy Trading

Copy Trading on Bitget allows investors to replicate the trades and strategies of others on the platform automatically. 

This free feature enables users to follow and copy any trader's strategy and portfolios at no cost. Traders can earn up to 8% profit from their followers, encouraging effective strategy development.

Ideal for beginners, it lets them choose high-ranking, successful traders for better outcomes. To start Copy Trading on Bitget, follow these steps:

  1. Choose a trader to follow.
  2. Select the trading pair to copy.
  3. Decide on a fixed ratio or fixed account.
  4. Pick the leverage type.
  5. Set the leverage.
  6. Opt for isolated or cross mode.
  7. Review and edit copy trade data if needed.
  8. Close the position when desired.

Spot-Margin Trading

Bitget platform offers Spot margin trading, allowing traders to use leverage in the Spot market. You can take long positions with 3x power for cross-margin and 10x for isolated margin, trading more cryptocurrency than you own. 

Bitget also lends best cryptocurrencies for shorting, offering flexibility and the potential for higher profits.

Loan repayments are automatic when positions close, simplifying the leverage trading process. Bitget's multi-currency collateral options let you use various cryptocurrencies as collateral.

To access Spot-Margin trading on Bitget, go to the “Trading” tab and select the Spot-Margin trading option.

Strategy Trading

Bitget's Strategy Trading is an innovative approach to digital asset trading, featuring free strategy bots and subscription services to strategists. These bots aid in optimizing investments and maximizing profits, with six grid strategies like Spot & Future grid and DCA available, plus more to come.

A key feature is copying strategies from expert strategists, either automatically or manually. Subscribing to a strategist allows users to leverage their expertise and experience.

Users pay fees based on their account's rate for creating or copying strategies, with no extra platform charges. Bitget’s Strategy Trading provides a unique, convenient way to enhance trading results.

Go to the “Trading” tab on the Bitget crypto exchange homepage to access Strategy Trading.

Bitget Fees

Bitget offers competitive and transparent trading fees. Crypto deposits are free, and Spot trading transaction fees are reduced: 

  • Spot trades have a standard 0.1% fee for both Maker and Taker, but using BGB for payment gives a 20% discount. Bitget withdrawal fees vary with the market and depend on the cryptocurrency and network.
  • Futures trading fees are 0.02% for makers and 0.06% for takers, offering a cost-effective option. 
  • Copy trading Bitget involves no extra fees, but up to 10% of profits are shared with the following trader, varying with the amount of BGB coins held and locked.

Bitget's fee structure is transparent and tailored to different trading preferences.

Deposits and Withdrawals

Bitget provides several methods for depositing and withdrawing funds. It supports over 40 fiat currencies, allowing users to buy various cryptocurrencies without conversion fees. 

bitget-buy-crypto-withdrawal-fees

The exchange collaborates with Simplex, Banxa, and Mercuryo to purchase over 250 coins and tokens using credit/debit cards, Apple Pay, and Google Pay.

Additionally, Bitget offers a P2P marketplace for crypto transactions, accepting payments via TransferWise, Adv Cash, Cashapp, Zelle, Neteller, Skrill, Uphold exchange, and bank transfers.

How to Register on Bitget?

Here's a quick guide about Bitget sign up:

  1. Go to the Bitget website and click “Sign up.”
  2. Enter your email or phone number and create a password.
  3. Verify your account using the code sent to your email or phone.
  4. Log in, click the profile icon on the top right, and select “ID Verification.”
  5. In “ID Verification,” choose “Individual verification” and fill in the necessary details.
  6. Now, you can deposit money and begin trading.
FAQ
⭐Is Bitget a good exchange?

Yes, Bitget is highly regarded in the cryptocurrency community.

⭐ Can you trade on Bitget without KYC?

No, Bitget will require mandatory KYC starting September 01, 2023

⭐ Is Bitget trusted?

Bitget is well-respected and trusted by numerous traders.

⭐ What are the trading Bitget fees?

In the Spot Market, Bitget imposes a 0.1% trading fee for both Makers and Takers. For Futures trading, the fee is 0.02% for makers and 0.06% for takers.

⭐ Is Bitget a Scam?

Bitget is a legitimate cryptocurrency exchange, boasting over 8 million registered users.

⭐ Can you use Bitget in the USA?

If you are in the USA, you can access Bitget with a VPN.

Is Bitget Exchange Safe to Use?

Yes, Bitget is a secure exchange with licenses in Canada, Australia, Italy, Lithuania, and the United States, including MSB in Canada and the U.S. and a DCE license in Australia. 

It operates compliantly in multiple countries, including Brazil, Europe, Russia, India, Vietnam, Singapore, the Philippines, Japan, and Korea.

Bitget site prioritizes security, using hot and cold wallet segregation and two-factor authentication, backed by its 12 A+ SSL Labs ratings. 

is-crypto-bitget-exchange-platform-safe

It also has a $300 million protection fund and employs Merkle Tree Proof of Reserves for additional safety and to confirm asset reserves. This makes Bitget a highly secure option for digital asset trading.

Bitget KYC Requirements

Crypto Bitget is introducing mandatory KYC verification starting September 01, 2023, to improve security and user experience. All users must complete KYC to access full features, ensuring a safer trading environment. 

Existing users without Bitget KYC should have completed the process by October 01, 2023, to avoid trade restrictions. This step is taken to enhance security and encourage responsible trading.

Supported Cryptocurrencies

Bitget company offers trading in over 400 cryptocurrencies, including popular options like:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Polygon Matic (MATIC)
  • Chainlink (LINK)
  • EOS (EOS)
  • Tron (TRX)

Bitget Exchange Review: Conclusion

Bitget Exchange stands out in cryptocurrency trading with its extensive range of over 400 cryptocurrencies and various trading options like derivatives, spot, and copy trading. 

Its competitive fee structure and strong security measures make it a good choice for many traders. However, the mandatory KYC policy and focus on advanced trading options might challenge some users. 

Overall, Bitget exchange offers a comprehensive and globally compliant platform that is suitable for traders seeking a diverse and secure trading environment.

Yana Levkovich

Crypto Analyst

Yana is an expert with a deep understanding of cryptocurrency more than 7+ years. Covering everything from traditional technology to blockchain tech and decentralized finance (DeFi). Her expertise extends to tasks like white paper creation and tokenomics consultancy. She advises companies seeking success in the cryptocurrency industry, so sh ..
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