Bitget Exchange Review: Bitget is one of the best cryptocurrency exchanges, encouraging people to adopt cryptocurrencies and be part of the future. Its objective is to serve as a gateway that surpasses the limitations of Web2 and Web3, links traditional centralised finance (CeFi) with decentralised finance (DeFi), and unites the extensive network of cryptocurrencies.

About Bidget Exchange

Bitget was introduced to the market in 2018, offering safe and all-encompassing trading solutions to its worldwide user community. Social trading is a primary aspect of Bitget’s services, resulting in the platform gaining a substantial following of over 8 million users, 380,000 followers, and 80,000 skilled traders across 100+ nations. According to CoinGecko, Bitget is one of the top five cryptocurrency exchanges in terms of derivative trading volume worldwide.

Bitget Supported Cryptos

The supported cryptos are;

Bitget Exchange Review

Features

• Supports 70+ trading pairs for USDT, USD and Coin Margined futures accounts
• Full quantitative trading tools, including open API, support CCXT, Gunbot, Autoview and Sirius Trader.
• Intuitive Trading Tools, ranging from drag-and-drop TP/SL levels and futures calculators to isolated and cross-margin modes.

How to Open a Bitget account?

• To open an account on Bitget, visit their website and sign up.
• All users must complete the KYC process to access Bitget’s products and services. The KYC process is simple and involves providing personal information and pictures of a government-issued ID. 
• Once the verification process is complete, you can fund your Bitget wallet by buying crypto with fiat currencies or depositing cryptocurrencies from another crypto wallet.
• Mobile phone number changes must be done on a PC.

Bitget Mobile App

Not all crypto investors need desktops to conduct their trading, and many prefer trading on their mobile apps anytime and anywhere. The chart and trading history will still be easy to access and view. The mobile app is available on Android and iOS for download from Google Play and AppStore.

Bitget Products

Buy Crypto

You can easily buy and sell crypto with one click. You don’t need to be a professional to start trading.

Spot Trading 

Spot trading involves purchasing and selling assets at the current market price for immediate delivery. Traders use spot trading to profit from daily market fluctuations through small transactions. This type of trading is available in various forms, including centralised trading platforms, decentralised exchanges, and OTC markets.

Futures Trading

The futures market serves a vital role in both hedging and price discovery. You may use this market to mitigate risk in the spot markets by securing a favourable price for the underlying asset later.

Copy Trading

Bitget Copy Trade caters to the needs of all types of investors, regardless of their experience level. Novice traders can learn by mimicking orders from seasoned professionals and benefit from their expertise. 

Meanwhile, cryptocurrency enthusiasts can generate additional passive income by becoming Bitget Copy Trade professional traders. These traders can earn commissions of up to 8% on their followers’ profits, creating a mutually beneficial environment for all users.

Strategy Trading

Bitget introduced the latest Strategy Plaza service. The new feature offers an entry into Strategy Trading through our platform, where investors can adopt and apply specific strategies set by registered experts to better direct their portfolio.

Trading Fees

The taker fee is 0.1% or 0.1% spot trading fee, and the maker Fee is 0.20%.  Regarding trades on the spot, takers and the makers pay the same fee of 0.20%. 

The fee is reduced to 0.14 per cent when the user pays the fees using the exchange’s native token, the Bitget DeFi Token (BFT).

When trading contracts, the buyers’ trading fee is 0.06 per cent, and with a discount, it is 0.04 per cent. Additionally, you will get a 33% market order if you click the link to register, while makers pay 0.02 per cent.

Payment Methods

You can pay for crypto using fiat via two payment processors, such as Banxa and Mercury, or you can use Mastercard, VISA, Apple Pay, and Google Pay. There is no charge for fiat currency deposits.

Deposit Methods

Bitget lets the user transfer fiat currency only by wire transfers for depositing cryptocurrency, but not with a credit or debit card.

Depositing cryptocurrency is simple;

• Log in to your Bitget account.
• Click on the “Assets” tab.
• Select the cryptocurrency you want to deposit.
• Copy the deposit address or scan the QR code.
• Send the cryptocurrency to the deposit address in your external wallet or exchange.

Withdrawal Limits and Fees

Withdrawal limits and fees vary with each crypto. If the user account is not fully verified, the daily withdrawal limit will be BTC20 or the equivalent in other cryptos.  If the account has completed verification, have a maximum of BTC 200 daily. 

The user must wait until the transaction is validated before the funds are credited to their account. Bitget charges a withdrawal fee of 0.0006 BTC for every BTC withdrawal. 

Security and Privacy

Bitget’s exchange platform is licensed by regulatory authorities in Australia, Canada, and the US to become the most secure crypto exchange. It holds operations licences from FinCEN of the US Department of the Treasury, FINTRAC in Canada, and AUSTRAC in Australia.

To protect users’ assets, the platform stores them in separate cold and hot wallets. Traders must also use a two-factor authentication before transferring funds to the exchange. 

Bitget Customer Support

Bitget offers live chat, comprehensive tutorials for all process aspects, and an FAQ section covering the fundamentals. Users can click on the help chat bubble at the lower right corner of the display to contact the help desk for assistance with trading issues or concerns. Customer Support is available to answer all queries.

Pros

• Buy crypto with one-click
• The seller’s asset is locked once you place an order. 
• Automated price matching
• Easy withdrawals

Cons 

• Withdrawal fees are slightly higher than the industry average.
• Few deposit and withdrawal options.

Summary

Bitget offers a wide range of smaller market currencies and a copy trading option, providing a fair and extensive trading experience for beginners and advanced traders. The exchange has strong security settings to ensure the safety of its clients and an easy-to-use platform with low fees. With its unique futures trading platform, Bitget stands out as a one-of-a-kind exchange and is ideal for anyone interested in navigating the trading sphere and buying crypto.

Disclaimer:

All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.