Bitget Review

Bitget Overview

Founded in 2018, Bitget started and has continued to run to create an unbiased future “where crypto evolution reforms the way finance works, and people invest forever.” The company was founded by a vision-driven team of adopters who believe in a Blockchain-based future and is headed by CEO Sandra Lou and Managing Director Gracy Chen.

The crypto exchange offers many trading opportunities and other crypto-related services. These products include copy trading, futures and spot trading, derivatives, AI-powered trading bots, crypto-to-crypto trading, margin trading, diverse earning services encompassing savings, reward earnings for its community, crypto loans, and staking.

Bitget is currently awarded the prestige of being the world’s largest crypto copy trading platform. Bitget is known for its highly satisfying customer service, high security, low trading and withdrawal fees, an essay sign-up process, and a great user experience.

The native token for Bitget is BGB, which is also used as a means of payment for transactions and fee deductions on the platform.

Bitget Pros and Cons

Trading on Bitget

Trading on Bitget offers many benefits, including rewards and bonuses that users can gain. BItget boasts over 500 tradable crypto assets, including the more popular coins such as BTC, ETH, USDT, XRE, LTC, BGB (Bitget’s native token), DOGE, and many more. The primary trading provision for users is in spots, futures, and cryptocurrencies.

Trades are carried out on the exchange website but can also be carried out on the Bitget mobile application for both iOS and Android devices. The trading fees are also very low compared to other crypto exchange platforms. On BItget, users trade spots and futures on the podium at low rates.

Spot Trading on Bitget

Bitget offers a wide selection of trading pairs on the spot market, with over 500+ available trading pairs at the time of writing. For every trade carried out, a trading fee of 0.1% is paid to the maker and the taker. However, when payments are made in BGB , the trade costs 0.08%. The spot market operates with a 24/hr trading volume of $1.3 billion and is traded in 15 different fiat currencies around the globe.

Spot markets aid transparency in the trading of assets with real-time market values, conditions, and price information. The Bitget spot market is no different. That is because it ensures real-time market values and up-to-date information on the market conditions of the assets.

Any trader with experience in spot trading would find it easy to navigate the spot trading interface on Bitget as it possesses very similar features to the general spot market. The trading options are well outlined and easy for any spot trader to interact with.

The spot trading interface also has a lightning-fast executing order needed to avoid issues like slippages in trade. Bitget spot trade interface allows users to enjoy flexibility while taking on their trades, which can be done using Fiat currencies or with cryptocurrencies as a transaction.

Futures Trading on Bitget

Futures trading on Bitget runs on a 24-hour trading volume of $9.18 billion at the time of writing and an open interest rate of $ 4.1 billion. Futures trading on Bitget comes with 125x leverage and a standard maker and taker fee of 0.02 and 0.06%, respectively. The futures trading platform is one of the most commendable features of the Bitget exchange and a significant selling point to traders and investors.

There are three major trading options for futures on Bitget. These are USDT-M, USDC-M and COIN-M futures. Each trading option differs based on the asset with which the trade is settled.

Bitget Exchange Fees

As stated earlier, Bitget is an exchange that bases all of its transactions on digital assets, with many trading options. The most common feature of the platform is its low exchange fees, which are highly competitive. Trading fees on Bitget are taken in three ways on the platform.

The spot trading fee is a standard 0.1% for both taker and maker, but the trading fee is reduced to 0.08% when payment is made with the BGB token. There are also no transaction fees for conversion of currencies on the spot market.

Futures trading comes with a 0.02% maker fee and a 0.06% taker fee.

The withdrawal amounts of assets vary from several conditions, especially as it concerns the market of the support being withdrawn. For instance, the withdrawal fee for BTC is 0.0007, while the withdrawal fee for Eth is 0.002.

Bitget Products Services

Bitget offers users several products, services, and features, including Copy trading, Strategy trading, staking, crypto loans, spot-margin trade, the Bitget mobile app, and many more.

Bitget Copy Trading

Copy trading is one of Bitget’s priced trading features, currently ranked as the top copy trading platform in the world. Bitget allows users to benefit from the trades of others on the platform if they have not hit the maximum number of followers. They get to mirror the real-time trades of these other traders with zero costs.

The traders who are being mirrored can also earn up to 15% of their follower’s profits. Beginner traders can learn trading strategies and techniques from the more experienced traders with huge ROIs and profit from following their trades. Some of the benefits of Bitget’s copy trading service include;

1. Reduced risks for traders. With the freedom to observe the trades of experts on the exchange, the amount of risks incurred in trades is automatically reduced for investors and amateur traders. Bitget has improved it by adding a risk management protocol for stop-loss limits and effective risk control.
2. Copy trading helps investors save time doing research and analyzing the markets. With all the work already being done by the expert trader, the only thing left to do is implement the same analysis for similar outputs.
3. Unlike traditional platforms, Bitget copy trading offers low fees on investments.

Bitget Strategy Trading

The Bitget strategy trading option allows users to copy trading strategies predicted by intelligent bots or experts and apply them to the markets. The role of these bots is to place orders based on market conditions. Strategy trades can also be carried out by evaluating crypto strategists studying the markets. Strategy trading aims to help the trader build trade flexibility and ensure profit.

Users applying strategy trading on the platform can easily pick a strategy that correlates with the style of trade they like. It also helps users to embrace the markets wholeheartedly by eliminating the emotional aspects of trading.

Staking on Bitget

Bitget allows users to stake various crypto assets on the Proof-of-Stake (PoS) Blockchain, such as SOL, ETH2.0, TIA, AVAX, and many more. Users can earn rewards for staking on the PoS Blockchain network.

There is no hardware setup when staking currencies on the Bitget platform.

The Bitget staking option provides an avenue for users to generate low-risk income while building wealth for the future.

Staking with Bitget affords flexibility and accountability. It is also a secure place to entrust funds; the tokens can be redeemed anytime.

Spot-margin Trade on Bitget

Bitget provides users with a rich opportunity to make profits with margin trade. With margin trade, users can borrow funds to add to their collateral to amplify profits.

Bitget provides users with four easy steps to achieve the spot-margin trade:

• Transfer funds from the main account to the spot-margin account. The funds being transferred should, however, be able to cover up for potential losses.
• Borrowing funds from the lending market to amplify profits and increase trading power. Lending of funds can be done automatically by enabling the auto-borrowing function or manually by clicking on the borrow icon.
• Trade with the newly borrowed funds by selecting a trading pair and opening a long or short position.
• Repay funds after closing the trade and take profits, if any.

These steps help users navigate their way through the margin trade. You can get a full grasp of Bitget margin trade here.

Bitget Mobile App

Bitget allows users to ensure faster login to their accounts through the mobile app. The mobile app has the same features as the website and is compatible with Android and iOS. The mobile app allows users to access the Bitget platform even while on the move. They can enter and exit a trade without needing to use the web. To begin using the Bitget Mobile trading app, iOS users must follow three easy steps.

1. Ensure you have a US Apple ID available.
2. Change your Apple ID in the App Store.
3. Install the Bitget app and begin trading with low fees.

Bitget Mobile app offers the same user experience as the official website, with real-time charts and tools to help users manage trades. The app is also easy for beginners to navigate for buying and selling crypto assets. The mobile app also has a two-step verification process to secure user info and funds.

Bitget Loans

Bitget offers loans for several crypto assets such as USDT/BTC, USDT/USDC, USDT/ETH, and more. The platform allows users to borrow assets and use cryptocurrencies as collateral. It offers traders and investors access to other cryptocurrencies or Fiat currencies without necessarily selling their holdings.

Users can borrow up to 70% of the collateral they put in. Loans come with different interest rates, conditions, and repayment schedules. There are also low interest rates on returns and very flexible repayment deals for any trader.

Bitget Savings

Not only does Bitget offer loaning services to users, but it is also an excellent platform for investors and traders to save. As part of Bitget’s Earn options, Bitget savings are a shield against market volatility and uncertainty, especially since the platform has more to do with trading cryptocurrencies, which usually experience volatility.

Bitget savings have been grouped into two options for users to select from;

• Fixed savings
• Flexible savings.

Bitget Beginner’s guide

Bitget comes with a comprehensive beginner’s guide that will help any beginner get accustomed to trades and opportunities available on the platform. The beginner’s guide contains a step-by-step guide on Bitget’s trading platform, services, and investment products. It is a good way for the newbies to feel secure after choosing Bitget.

Bitget Security

Bitget prioritizes the security of user funds and has put solid measures in place to achieve this priority. The exchange employs multi-signature wallets to store funds, approve transactions, and beat the possibility of threats. Bitget also uses a level-one KYC verification, which ensures that users submit a government-issued identification, facial recognition scan, and auto-cross matching through the eKYC technology to provide a lack of compromise. That is to remove all and every threat of fraud and impersonation.

It is important to note that users without KYC authentication will be prevented from operating in any kind of transaction on the exchange, except for withdrawal. The further use of two-factor authentication (2FA) has served as a helpful means to safeguard user funds by requiring a code and password before the user can assess an account.

Bitget also uses foreign Blockchain tools to monitor and analyze exchange transactions closely. That is geared towards removing the threat of fraudulent activities and high-risk clients through the immutability of public blockchains. Other measures taken to secure the transparency of Bitget include;

• Consulting of cyber security experts for an assessment of the current security state of the platform and how it can be improved.
• Conducting penetration/vulnerability tests on the platform biannually for threat detection and removal.
• Encrypting of data in a fault-defunct storage to avoid theft or unwanted access to information.

Bitget Customer Services

Bitget offers users a 24/hr customer support service, where users ask questions and give suggestions on better ways to enjoy the platform. Users can also reach the support center by simply entering [email protected], where they can report problems or issues they are undergoing during the exchange. The Bitget academy also enables newbie traders and users to learn how to navigate the markets before diving in. The platform also provides live chat support to users, allowing them to interact one-on-one with any Bitget agent who will help put them through issues regarding the platform.

Conclusion

Bitget is by far one of the leading cryptocurrency exchanges recognized globally. It is a secure platform worthy of recommendation for any trader or investor to take their trading business to. With the many features that have been highlighted, every trader would be happy with the choice of trading on the Bitget platform. Beyond trading, however, the platform’s user interface is highly commendable, making the user experience worthwhile.

FAQs

Can you trade Spot-Margin on Bitget?

Yes, the spot-margin trade feature is fully available on Bitget for all users.

Does Bitget have a mobile app?

Yes. Bitget’s mobile app can be downloaded on Play Store for Android or Apple Store for iOS devices.

How reliable is Bitget?

Bitget appears to be a highly reliable and trustworthy cryptocurrency exchange.

Can you trade on Bitget without KYC?

Bitget’s policy does not approve any trading activity for non-KYC users. The only exception is with the withdrawal and deposit of funds.

Does Bitget accept debit cards?

Yes, BItget users can deposit and withdraw funds with cards. This function is, however, limited to certain currencies due to regulations and policies.