Bitget Review 2024: Is it a Safe Trading Platform?

Discover Bitget, a top-tier crypto exchange platform with spot and futures trading options. Read our review now.

Cryptocurrency trading has become an exciting and lucrative venture for many people around the world. The demand for cryptocurrency exchanges has increased, and with it, the emergence of various trading platforms.

Bitget is one such platform that has gained a lot of attention among cryptocurrency traders. In this Bitget review, we will explore everything you need to know about this platform, including its features, fees, security, and overall user experience.

What is Bitget?

Bitget is a cryptocurrency trading platform that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and many more. The platform was established in 2018 and is headquartered in Singapore.

Bitget provides its services to users in over 150 countries around the world, and it has gained a reputation for its advanced trading tools and user-friendly interface.

The platform offers features such as technical analysis, price alerts, real-time market data, margin trading, copy trading, and Futures, making it an ideal platform for both novice and experienced traders.

PointDescription
Platform typeCrypto derivatives trading platform
Supported assets450+ digital assets, and 600+ trading pairs
Trading productsFutures, perpetual swaps, options, spot trading, copy, and margin trading
FeesSpot: 0.1% for both maker and taker
Futures: 0.02% maker and 0.06% taker fees
Payment MethodsBank transfers, Credit/Debit cards, Apple Pay, Google Pay, P2P, Simplex, Banxa, etc.
Fiat CurrenciesUSD, EUR, GBP, and +12 more
LeverageUp to 120x leverage available for futures trading and up to 100x for perpetual swaps
Security featuresMulti-signature cold wallet storage, two-factor authentication, and SSL encryption
Trading toolsAdvanced trading charts, order book depth, real-time market data, and API trading options
Mobile appAndroid and iOS platforms
Customer support24/7 customer support via live chat and email support
RegulationThe platform is licensed and regulated in multiple jurisdictions, including Singapore, the US, and Canada
KYC/AML requirementsYes

Read: Bitget referral code

Bitget Features Overview: Everything you Need to Know

  • Bitget provides users with access to more than 150 cryptocurrencies, making it easy to trade with flexibility and choice.
  • The platform supports various trading methods, including spot trading, crypto futures, margin trading, and copy trading.
  • Users can fund their wallets in several ways, including SEPA, P2P trading, MoonPay, Banxa, and bank transfers.
  • BGB, the native Bitget token, provides users with fee discounts and additional rewards for using platform services.
  • Bitget Launchpad allows users to purchase tokens in their early stages using BGB, and the platform places a strong emphasis on security and transparency.
  • It guarantees to hold at least 100% of users’ assets in reserves, publishes its Merkle Tree proof of reserves snapshot monthly, and has an open-source tool called “Merklevalidator” on GitHub.
  • VIP users on Bitget enjoy exclusive benefits such as lower fees, higher withdrawal limits, account managers, and many more.
  • Institutional services are also available for professional traders.
  • It also offers a referral program, allowing users to earn a $10 referral bonus and up to 30% commission on their trading volume by inviting friends to the platform.

Bitget Trading Platform Explained

The platform is designed to cater to the needs of both beginners and experienced traders, providing them with access to advanced trading tools and features. Bitget offers several types of trading options, including spot, futures, and options trading.

Bitget Copy Trading

Bitget copy trading

Bitget Copy Trading is a feature that allows users to automatically copy the trades of successful traders on the platform. This feature is ideal for traders who do not have the time or expertise to analyze the market and make trading decisions on their own.

For example, if a trader chooses to copy the trades of a successful trader on Bitget, every time the successful trader makes a trade, the system will automatically replicate the trade in the trader’s account.

Bitget offers 3 Types of Copy Trading:

  1. Spot Copy Trading
  2. Futures Copy Trading (With leverage)
  3. Strategy Copy Trading (using Technical Indicators like MACD, RSI, MA, etc.)

Bitget Strategy Trading (Automation)

Grid BOT

It is an automated trading feature that allows users to trade based on pre-defined trading strategies. This offers a range of customizable strategies, such as Grid Trading and Dollar cost averaging (DCA), that can be tailored to suit individual trading preferences.

  • For example, if a trader chooses the Grid Trading strategy, the system will automatically place buy and sell orders at specific price levels, creating a grid of orders. This can help traders take advantage of market fluctuations and potentially increase their profits.

Types of Bitget Strategy Trading:

  1. Spot and Futures Grid Trading
  2. Spot and Futures DCA bots
  3. Reverse DCA
  4. Spot Auto-Invest on predefined Intervals

Bitget Margin Trading

Margin Trading

With margin trading, traders can increase their buying power and potentially increase their profits by borrowing funds from the Exchange.

To start margin trading on Bitget, users need to deposit digital assets as collateral. Bitget offers a range of margin trading options, including isolated margin (10x leverage) and cross margin )3x leverage). An isolated margin allows users to trade with a specific amount of borrowed funds, while a cross margin uses the user’s entire account balance as collateral.

  • For example, if a trader has 1 BTC in their Bitget account and wants to margin trade with a leverage of 5x, they can borrow up to 4 BTC and trade with a total buying power of 5 BTC. If the price of Bitcoin increases, the trader can potentially earn a higher profit than they would have with just their 1 BTC, but if the price of Bitcoin decreases, the trader can also potentially lose more than just their 1 BTC.

Bitget Earn and Saving

Bitget Staking

Bitget Earn and Saving is a feature that allows users to earn interest on their digital assets and save them for future use. Users can earn interest on a range of digital assets, including Bitcoin, Ethereum, and USDT.

Let’s say, if a user holds Arbitrum (ARB) in their Bitget account, they can earn up to 77% APR on their ARB holdings by participating in the Earn and Saving program.

it also offers Dual investment, allowing users to invest in two different digital assets at the same time. This feature is ideal for users who want to diversify their portfolio and potentially reduce their risk.

Launchpool

Launchpool is a feature that allows users to participate in initial coin offerings (ICOs) and earn rewards for their participation. Launchpool offers a range of ICOs that users can participate in, and users can earn rewards by staking their digital assets.

Bitget Native Token (BGB)

The BGB token from Bitget is a utility token that improves social trading and other uses. Being Bitget’s official token, it has several applications throughout the ecosystem.

BGB is an ERC-20 token that allows customers who trade on the platform to reduce trading costs, giving them a 15% discount on spot and futures contract service fees. BGB can also be utilized in contract trading as a contract margin.

As an incentive, traders who take part in Bitget’s “Trade-to-Earn” program can receive BGB tokens. By utilizing BGB, Bitget traders can receive trading charge savings of up to 20%. Moreover, using BGB margins on “coin-margined futures” might result in a 15% reduction in fees.

Bitget Supported Cryptocurrencies

Bitget supports 493 cryptocurrencies and 600+ trading pairs for trading, including some of the most popular and widely traded digital assets.

  1. Chainlink (LINK)
  2. Aave (AAVE)
  3. Compound (COMP)
  4. Uniswap (UNI)
  5. Polkadot (DOT)
  6. PancakeSwap (CAKE)
  7. Terra (LUNA)
  8. SushiSwap (SUSHI)
  9. The Graph (GRT)
  10. Kusama (KSM)

Bitget Payment Methods

Bitget supports a variety of payment methods to allow users to fund their accounts and start trading digital assets. Here are the payment methods supported by Bitget:

  1. Cryptocurrency deposit: Users can deposit a range of cryptocurrencies into their Bitget account, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), among others.
  2. Bank transfer: Bitget supports bank transfers for users who prefer to deposit funds using fiat currency. Users can make deposits in several currencies, including USD, EUR, and JPY.
  3. Credit/Debit card: It also allows users to make deposits using credit and debit cards. This option is available for users in certain countries and is subject to additional fees.
  4. Third-party Payment providers: It supports simplex, Moonpay, Banxa, Google Pay, and Apple Pay in certain countries.
  5. P2P transfer: Bitget users can also transfer funds between their own accounts or to other Bitget users using P2P trading.

Bitget Fees

Bitget is gaining popularity for its competitive trading fees. The platform offers a range of fees for its different services, including spot trading, futures trading, P2P trading, deposits, and withdrawals.

For spot trading, Bitget charges a 0.1% maker and take fees. you can get a 20% discount by holding its native token BGB.

For futures trading, Bitget charges a 0.02% maker fee and a 0.06% taker fee.

P2P trading on Bitget is free, allowing users to trade cryptocurrencies directly with each other without any fees.

Deposits on Bitget are also free, although users may incur fees charged by their payment provider. It’s important to check with the payment provider for any additional fees before making a deposit.

Withdrawals on Bitget are only available in cryptocurrencies, and fees vary depending on the coin and chain network. Fees for withdrawals range from 0.01 USDT to 0.0008 BTC.

Bitget Security Review

Bitget places a high priority on the security of its users’ assets and information. Here are some of the security measures in place on the Trading platform:

  • Two-factor authentication (2FA) required for all accounts
  • Majority of funds are held in cold storage
  • SSL encryption for secure communication
  • Anti-phishing measures and warnings
  • KYC verification is required for withdrawals
  • Regular security audits

Customer Support and Ease of Use

Bitget aims to provide a user-friendly and intuitive platform that is accessible to traders of all levels of experience. The platform offers a range of trading services, including spot trading, futures trading, P2P trading, and margin trading, all of which are easy to access and navigate.

In terms of customer support, Bitget provides a range of resources and channels for users to get help and support when needed. These include a comprehensive FAQ section, a knowledge base, and a live chat feature that is available 24/7.

The live chat feature allows users to connect with its customer support team directly and get real-time assistance with any issues or questions they may have. The customer support team is responsive and helpful, and users can expect to receive prompt and efficient support when they need it.

Pros and Cons of Using Bitget

Pros:

  • Offers a wide range of trading products
  • Competitive trading fees
  • High leverage available for futures and perpetual swaps
  • Robust security measures, including multi-signature cold wallet storage and two-factor authentication
  • User-friendly and customizable interface
  • 24/7 customer support and educational resources are available
  • Licensed and regulated in multiple jurisdictions

Cons:

  • KYC verification is required before being able to withdraw funds
  • Less Fiat currency supported
  • Some users have reported slow customer service response times

How to Get Started [Open Account] With Bitget Trading Platform?

  1. Go to the Bitget website.
  2. Click on the “Register” button in the top right corner of the screen.
  3. Enter your email address and choose a strong password.
  4. Click on the “Get Code” button to receive a verification code via email.
  5. Enter the verification code in the designated field and click “Confirm”.
  6. You will be redirected to a page where you need to enter your personal information such as name, nationality, and ID number.
  7. Once you’ve filled in all the required fields, click “Submit” to complete the registration process.

Alternatives and Comparison

Here is a comparison table for Bitget, Kucoin, Bybit, and MEXC Global based on supported coins, fees, features, and ratings.

ExchangeSupported CoinsFeesRating
Bitget450+Trading fees: 0.1% Maker, 0.1% Taker.8.5/10
Kucoin800+Trading fees: 0.1% Maker, 0.1% Taker.9/10
Bybit350+Trading fees: 0.075% Maker, 0.075% Taker.9/10
MEXC Global600+Trading fees: 0.1% Maker, 0.15% Taker.8/10

Final Thoughts: Is Bitget Worth It?

In summary, Bitget is a leading cryptocurrency derivatives trading platform that offers a wide range of trading products such as futures, perpetual swaps, options, spot trading, and margin trading.

With competitive fees, high leverage, and robust security measures, Bitget provides traders with a reliable and user-friendly platform for executing their trading strategies.

The platform also offers a range of advanced trading tools and educational resources to help users make informed trading decisions.

Bitget

Amit Chahar

bitget
Bitget – the secure and user-friendly platform that offers advanced trading features and competitive fees for traders of all levels.
Fees
Features
Security
Ease of Use

Summary

Bitget offers a range of advanced trading tools and features, such as leveraged trading, margin trading, and futures trading. It also has a user-friendly interface and provides a mobile app. The platform offers 24/7 customer support and has high-security standards to protect user assets.

4.1

FAQs

Is Bitget Safe?

Bitget takes security very seriously and has implemented various measures to ensure the safety of its users’ funds and personal information. The platform uses multi-signature cold wallet storage, two-factor authentication, and SSL encryption to protect users’ assets and data. Bitget is also licensed and regulated in multiple jurisdictions, which provides additional reassurance of the platform’s legitimacy and security.

What is the minimum deposit for Bitget?

The minimum deposit required to start trading on Bitget varies depending on the cryptocurrency and the payment method used. However, generally, the minimum deposit amount is around $10 worth of cryptocurrency. Users can deposit funds using various payment methods, such as bank transfers, credit/debit cards, and cryptocurrencies.

Can I use Bitget without KYC?

No, users are required to complete the Know Your Customer (KYC) verification process before being able to withdraw funds on Bitget. KYC is a standard practice in the cryptocurrency industry aimed at preventing fraud, money laundering, and other illegal activities. Users must provide personal information, such as their name, address, and government-issued identification, to complete the KYC process.

Amit Chahar

Amit Chahar

Hey! I am Amit Chahar, a Crypto and blockchain content creator at Wallet Reviewer. With 3+ years of experience as a SEO content writer, I love talking about blockchain technology, digital assets, DeFi, Smart Contracts, DApps, Digital Wallets, Metaverse, and NFTs.

Want to hire me? Contact: hello@walletreviewer.com

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