Bitget Exchange Review 2024

Bitget is a leading crypto derivatives and copy trading exchange. The platform offers access to multiple cryptocurrency products and features that appeal to newbies and seasoned crypto traders. 

This comprehensive Bitget review promises to deliver an extensive overview of the exchange, including the services and products it offers and the earning opportunities available on the platform.  We will also consider how you can get started on the platform and make deposits and withdrawals.

What is Bitget?

Bitget is a leading cryptocurrency exchange offering a comprehensive platform to trade diverse cryptocurrencies. Founded in 2018 by a team of early crypto adopters, the Singapore-based exchange offers industry-leading services to more than 20 million users from different countries. 

The exchange stands out as one of the top five crypto derivatives exchanges and the number one copy trading platform in the market, with a daily transaction volume of over $10 billion. Bitget offers traders access to a plethora of products and services, crypto trading pairs, bonuses, and promotions.

Bitget team

• Sandra Lou

Co-founder and CEO of Bitget

https://twitter.com/Sandra_Bitget

• Gracy Chen

Managing Director of Bitget

https://www.linkedin.com/in/gracychen/

https://twitter.com/GracyBitget

• Alex Hwang

Director of Institutional Business Development at Bitget

https://www.linkedin.com/in/alexh714/

• Intae Song

Business Partner at Bitget (Formerly Chief Sales Officer)

https://www.linkedin.com/in/intae-song121/?originalSubdomain=kr

Key features

Bitget offers several features that make it a go-to choice for millions of crypto traders. Some of the key features include:

• Multi-Coin Support

Bitget supports more than 600 different cryptocurrencies on the platform. Users can send, receive, and trade these crypto assets securely on the Bitget exchange 

• Low trading fees

The exchange offers some of the lowest trading fees available in the market. It also offers extra discounts on the fees when traders use its native token.

• Bitget Launchpad

Bitget enables users to become early investors in some of the most promising crypto projects via its Launchpad program. For project developers, this platform allows them to leverage Bitget's resources and vast user base to boost the visibility of their projects and grow their community. 

• NFT Market

Bitget allows users to easily trade, store, and manage their non-fungible tokens (NFTs) on the platform. It provides a one-stop shop for trading NFT assets, allowing traders to complete transactions without leaving the exchange interface. 

• Web3 Wallet

Bitget grants users access to the world of Web3 and decentralized finance (DeFi) via its Web3 wallet. The wallet offers seamless access to hundreds of decentralized applications (dApps). 

Bitget Products and Services

Here are some of the popular products on Bitget:

• Staking

Staking allows investors to generate passive income by locking their crypto assets in a smart contract for a specified time. Bitget offers access to some of the biggest Proof-of-sStake (PoS) networks for staking. Some of the most popular staking coins on the exchange include ETH, MATIC, SOL, and DOT. 

• Crypto Loans

Bitget offers users access to its collateralized lending product where users can borrow crypto assets by pledging another crypto asset as collateral. The exchange allows users to take out loans of up to 70% of the value of their collateral. 

The process is very easy, as users can quickly get the loans within minutes of applying. Additionally, Bitget offers low-interest rates and flexible repayment terms. It also helps users manage their loans by providing them with risk alerts and margin calls. Some of the most popular products on Bitget's crypto loans section include USDT, BTC, ETH, and more. 

• Dual Investment

This investment product offered by Bitget enables users to earn significant returns by investing in two different cryptocurrencies. To use this product, traders must select a base currency and a target currency and set a target price for the target currency.

Bitget Dual Investment allows investors to buy low and/or sell high at a future price once the target currency reaches or surpasses the target price within the subscription period. The exchange offers traders an option to Buy Low when asset prices drop or Sell High when the prices increase. The APR of these products is calculated based on the selected target price and prevalent market conditions.  

• Shark Fin

Bitget Shark Fin is a capital-guaranteed and low-risk structured crypto product that enables investors to grow their crypto assets.  This product is specifically designed for investors who want to significantly increase the value of their crypto holdings without taking on more risks. 

To use Shark Fin, investors can invest in the product that suits their risk appetites by considering the estimated APR, price range, subscription period, and price range predictions. Once they choose their preferred product, the funds are locked up and can not be redeemed before the maturity date. At the end of the subscription period, they will get their capital and yield back. 

Usability

Bitget offers a sleek and user-friendly interface that makes it easy for traders to quickly navigate the platform. The well-organized widgets and icons allow users to access the exchange's products and services, regardless of their experience levels.

Users can access the drop-down menu from the top left corner of their dashboard, where they can find different features and products of the exchange. It also features a dark mode setting that allows users to customize the appearance of the platform background. 

The exchange is available in over 20 languages, including English, French, Japanese, Korean, Arabic, Spanish, Italian, Portuguese, Dutch, and many more. This multi-language approach allows Bitget to cater to a diverse range of users scattered across the globe. 

Mobile App

Bitget offers a seamless trading experience on its dedicated mobile app, which allows traders to take trades and monitor their open positions anytime, anywhere. The mobile app features a user-friendly and intuitive interface, quick deposits and withdrawals, and access to the exchange's products and features, which have been optimized for mobile devices. 

The Bitget mobile app is compatible with both iOS and Android devices, with all the features of the web version. However, users must download the app from the official Bitget website to avoid falling victim to fake apps.

Bitget Token (BGB)

BGB is the native token of the Bitget crypto exchange. It is an ERC-20 token with a supply cap of 2,000,000,000 BGB tokens. The token enhances the exchange's internal ecosystem with its multiple use cases and offers holders immense utility. Some of the use cases and benefits BGB offers holders include:

• Significant discount on trading fees, from 15 to 20 percent
• BGB holders can earn passive income by staking their tokens on the platform
• BGB allows users to invest in promising projects on the Bitget Launchpad
• Holding BGB tokens makes users more eligible for airdrops on the exchange
• BGB tokens provide holders with voting rights that allow them to select which products should be made available on the platform 

Supported countries

Bitget is committed to providing its services to millions of users from different parts of the world. Hence, the exchange sought to obtain registration and license from different countries.

Bitget is licensed in five countries, including the USA, Canada, Australia, Lithuania, and Italy. The platform also holds operational licenses that allow it to offer its services to customers in countries like Japan, South Korea, Brazil, Russia, Vietnam, the Philippines, Singapore, and many more.

How to Get Started With Bitget

Getting started on the Bitget crypto exchange is very easy. Here's a detailed breakdown of what to do, from the registration process to verification, deposit, and withdrawal.

Registration

Bitget offers a straightforward registration process. Here's a step-by-step guide on how to get started on the platform:

• Step 1: Create an account. To open a Bitget account, visit the official website on your desktop or download the Bitget mobile app.
• Step 2: Click the "Sign up" button on the top right corner of the homepage.
• Step 3: Select a sign-up method. The exchange allows users to register with their email address or phone number.
• Step 4: Enter your information. Depending on your chosen method, type in your email address or phone number and generate a unique 8-digit password. Bitget has an indicator that shows you if your generated password is strong enough; pay attention to it.
• Step 5: Agree to the terms and conditions and click the "Create Account" button. 
• Step 6: Verify your account. Bitget will immediately send a 6-digit code to the phone number or email address used to create the account. Enter the code in the verification portal. 
• Step 7: Congratulations! You have just created your Bitget account. 

Verification and KYC requirements

Since Bitget is a centralized exchange, it requires users to complete a Know Your Customer (KYC) procedure. This verification process ensures that criminals do not use the exchange to conduct any fraudulent activities. 

Completing the KYC verification enhances users' experience on the platform as it unlocks several important features, including deposits. The verification process is easy and fast. Here's how to do it:

• Step 1: Log into your Bitget account
• Step 2: Click on the "Identity Verification" tab on your homepage
• Step 3: Bitget offers two verification options for businesses and individuals. Select "Individual Verification"
• Step 4: Provide a government-issued document, including an ID card, driver's license, passport, and more. 
• Step 5: Complete a facial recognition process. Bitget uses live self-portraits to verify users' identities.
• Step 6: Submit the documents and wait for Bitget to confirm your submission. The exchange processes the ID within 60 minutes. 

Deposit and Withdrawal Options

Bitget has multiple deposit and withdrawal options that users can choose from, based on their preferences. The exchange allows users to deposit more than 250 different cryptocurrencies on the platform. 

The crypto deposit process is easy and fast. Users simply have to select "Deposit" and choose the crypto asset to deposit. The exchange then generates a crypto wallet address, which users can copy to complete the transaction from their wallets.

Alternatively, the exchange allows users to buy crypto using fiat currencies. Bitget provides a variety of payment methods for this option, including direct bank transfer, credit/debit cards, and other payment processors. 

Withdrawal

Bitget offers a simple and easy withdrawal process. The exchange only allows withdrawals to be processed via the spot account. Here's how to withdraw your assets from the platform:

• Step 1: Log into your Bitget account
•  Step 2: Click on the wallet icon at the top right corner of the dashboard and select "Withdraw."
• Step 3: Select "On-chain withdrawal" to transfer funds from your Bitget wallet. 
• Step 4: Choose the asset you wish to withdraw, the amount, the appropriate blockchain network, and the wallet address to send the funds. 
• Step 5: Click "Withdraw" to process the transaction. For security, Bitget requires users to verify withdrawal requests before they can be processed. 

Trading pairs

Bitget offers traders access to more than 600 different cryptocurrencies on its platform with about 690 spot trading pairs to choose from. Some of the most popular trading pairs available on the Bitget exchange include:

• BTC/USDT
• ETH/USDT
• BGB/USDT
• XRP/USDT
• BNB/USDT
• USDC/USDT

Fees and limits

Bitget has a robust fee structure that rivals that of its competitors. The transaction fees are transparent and fair, with no hidden charges on the platform. The trading fees Bitget charges users are based on the type of trading activity they conduct.

For spot trading, the exchange charges a standard fee of 0.1% for both maker and taker. However, BGB holders get a 20% discount when they use the token to pay for their trading fees. 

For futures trading, Biget charges a standard fee of 0.02% for makers and 0.06% for takers. This reduced transaction fee rate for futures trading incentivizes users to take up leveraged positions on the platform.

For copy trading, the exchange does not charge any extra fees. However, when users make profits from duplicating the trades, positions, and strategies of other expert traders, Bitget takes up to 10% of the profits and gives it to the traders they choose to follow. 

Bitget does not charge any fees on crypto deposits. However, when purchasing crypto with fiat, the exchange uses third-party providers that have their given fees. It is important to check them out as they vary from one provider to another.

For withdrawals, the exchange automatically adjusts its fees based on the prevalent market conditions at the time of withdrawal. Additionally, the minimum withdrawal amount and daily trading limits can vary depending on the crypto asset users wish to trade or withdraw. 

How to Purchase Crypto Via Quick Buy

Quick Buy is an express service that allows Bitget users to effortlessly buy and sell crypto assets using fiat. The process is straightforward and can easily be completed in a matter of minutes. Here's a step-by-step guide:

• Step 1: Log into your Bitget account
• Step 2: Click on the "Buy Crypto" tab and select "Quick Buy"
• Step 3: Select the fiat currency to use for the purchase. There are over 100 fiat currencies to choose from.
• Step 4: Enter the fiat currency amount and select a cryptocurrency to buy.
• Step 5: Select a payment method to complete the purchase
• Step 6: Confirm the transaction details and place your order. The selected crypto will immediately be sent to your Bitget wallet as soon as the transaction is processed.

Trading on Bitget

Bitget offers traders multiple trading methods that suit user preferences and experience levels. Let's take a look at some of them.

• Spot Trading

Spot trading is the easiest trading method to apply in the cryptocurrency market. It allows traders to quickly buy and sell an existing asset. One major advantage of this trading method is that the purchased asset automatically becomes the property of the trader, which they can decide to sell at any time regardless of the market condition. 

Bitget currently offers traders access to more than 500 different cryptocurrencies on its spot trading interface. There, traders can select their preferred trading pair and place an order. 

• Futures Trading

Futures trading is one of the most popular trading strategies available on the Bitget platform. Futures trading allows traders to speculate on the future value of the underlying asset. This trading strategy is considered a type of derivatives contract where traders agree to buy or sell a specific digital asset at a set time in the future for a set price. 

With futures trading, traders must understand the margin and leverage options available to them, as they both differ from exchange to exchange. Margin refers to the minimum amount of capital required to open a new position. Bitget offers users access to three kinds of futures contracts, namely USDT-Margined, USDC-Margined, and COIN-Margined. The first two contracts are settled in the underlying stablecoins, USDT and USDC, while the third contract is settled in a specific cryptocurrency. 

Leverage is the feature that allows traders to borrow funds from the platform to increase their positions, significantly increasing their profits or losses. Bitget offers traders various leverage options depending on the asset they wish to trade. Traders can take leverage between 1x and 125x on the Bitget platform.

• Copy Trading

Copy trading is an investing method that allows traders to copy the positions, strategies, or trades of other traders on the platform. Bitget offers a robust copy trading feature that enables traders to instantly copy the trades of other investors to improve their results. 

Bitget currently has more than 110,000 top traders boasting over 540,000 followers and more than $380 million realized PnL. This trading method is especially helpful to beginners to choose expert traders with high rankings and a good PnL record who can help them achieve better success in their trading journey. 

To start copy trading on Bitget, users simply have to select the trader they wish to copy, select the trading pair and the amount to trade, and simply duplicate whatever the copied trader does in real-time. Experienced traders can also earn a percentage of the profits their followers make from copying their trades. 

• Spot-Margin Trading

This trading method allows investors to trade with leverage on the spot market. Bitget provides traders with different leverage levels to choose from, enabling them to trade with amounts significantly higher than what they originally owned. 

Bitget offers a maximum of 3x leverage for cross-margin and 10x leverage for isolated margin positions. The exchange also allows traders to trade with multiple cryptocurrencies as collateral. The loans are automatically repaid once the position is closed. 

• Strategy Trading

Also known as Mirror Trading, this trading method allows users to access, create, or follow strategies that use autonomous bots designed by professional strategists to place orders based on preset conditions. When the specified conditions are met, the bots will automatically execute buy and sell orders without human intervention. 

Like copy trading, users can follow the trading strategies crafted by experts to boost their results. However, the techniques applied in both trading methods differ significantly.

Bitget offers users access to different strategy trading options including, grid, automatic investment, and dollar-cost-averaging (DCA). Users can easily select the strategy that suits them most and deploy them instantly without having to constantly monitor the trades. 

Bonuses and Promotions

Bitget offers a wide range of bonuses and promotions that incentivize old users and attract ones to the platform. Some of these bonuses include:

Affiliate Program

Bitget has a robust affiliate program that allows existing users to earn passive income by referring new users to the platform. When users sign up as Bitget affiliates, they receive a referral link and marketing materials, which they can share with their friends and family. 

Whenever someone signs up using the user's unique referral link, makes a deposit, and conducts a trade on the exchange, they get a percentage of the money. Affiliates can earn up to 50% in commission. The payouts are swift and withdrawals are also processed quickly. 

VIP Program

Bitget's VIP program offers users access to a premium trading experience, with different perks, gifts, and rewards. The VIP program on Bitget has six tiers from VIP 0 to VIP 5. 

The more users climb the VIP levels, the greater the perks they enjoy. Some of the benefits enjoyed by VIP traders include lower transaction fees, express deposits and withdrawals, premium customer service, and many more. 

Bitget Customer Support

Bitget has a robust customer support system dedicated to assisting users with their questions or any issues at all times. The exchange has multiple channels to reach the support team and users can choose anyone that suits their particular needs.

The exchange has a 24/7 live chat feature that appears as a headset icon at the bottom right of the website. This multilingual service allows users to chat with Bitget's bot in different languages. The bot provides quick responses to users' questions and can direct users to where they can find more information about their problems.

Users can also reach the support team via their email address, based on the issue they are facing. For questions about the Bitget global trading platform, users can either send an email to [email protected] or send a ticket through the help center. For questions about the Bitget wallet, email [email protected].

Bitget also has a comprehensive FAQ section on its website. It offers detailed answers to common questions users might have relating to their accounts and how various features of the platform work.

Additionally, Bitget has an active community on different social media platforms where users can get access to the latest updates and new listings on the exchange. Users can stay updated on the latest news and engage with the community on Reddit, Telegram, Discord, X, Facebook, Instagram, TikTok, YouTube, and more.  

How Safe is Bitget?

Bitget is committed to providing its users with the highest level of security, protecting their crypto assets and sensitive information from being exploited by bad actors. Therefore, the exchange employs some of the best encryption methods available in the industry, which changes data into secret codes that need a key to open. This way, no one can access the data. 

Bitget also uses a two-step verification process that requires users to enter a code from a device, which ensures that no third party can access the account even if they know the password. To further protect users from phishing scams, Bitget embedded an anti-phishing code on all of its emails to users to help them differentiate authentic emails from scams.

The exchange takes seriously the advice to never put all your eggs in one basket. Bitget utilizes both cold and hot storage when securing customers' funds. By keeping most of the funds in different cold storage wallets and a few funds in hot wallets for daily operations, Bitget reduces the chances of losing all of its customers' funds if the exchange ever gets exploited. 

Speaking of hacks, with the threat of cybercrime becoming more prominent in the crypto space, Bitget provides a safety net for users in the form of its Protection Fund. The fund is a $350 million emergency reserve that can be used to compensate customers for losses in the event of a hack.

To further demonstrate its commitment to protecting customers' assets, Bitget regularly publishes its Proof of Reserves, which verifies the assets held by the exchange through regular audits. Bitget is audited by some of the biggest audit firms in the industry, including CertiK, and publishes its Merkle Tree proofs monthly. 

With all these security measures in place, Bitget is a safe exchange where traders can conduct their transactions and rest assured that their assets are protected.

Pros

• Low trading fees
• Easy-to-use interface
• Merkle Proof of Reserves
• Multiple trading strategies
• Diverse products and services
• Multiple deposit and withdrawal options
• Bitget is a licensed and regulated exchange 

Cons

• Higher fees when using the Quick Buy option to purchase crypto 
• The platform’s numerous Advanced features can be too complicated for beginners

F.A.Q

• Is Bitget beginner-friendly?

Bitget has a user-friendly interface and well-organized icons that allow users to quickly find whatever they are looking for. However, the platform's products and features may be overwhelming for new traders. 

• Can you use Bitget without KYC?

The answer is NO! Bitget has made its KYC procedure mandatory. Without completing the process, Bitget users can not deposit funds into their accounts. The KYC process unlocks all of the major features of the exchange.

• How long do deposits take?

Crypto deposits are processed almost instantly. On the other hand, purchasing crypto with fiat can take anywhere from a few minutes to hours, depending on the payment method used. 

• Does Bitget freeze accounts?

Bitget can freeze a user's account if it suspects any fraudulent activity on the account. 

Conclusion

Bitget is a robust crypto exchange that not only grants its over 20 million users access to more than 600 cryptocurrencies but also equips them with different trading methods to use. The exchange is licensed by several governments and is well-known as a reputable crypto trading platform due to its security measures. 

While Bitget offers some remarkable features, it is worth noting that they might be too complicated for beginner traders. However, for expert traders who are looking for an all-encompassing crypto exchange with advanced trading features, Bitget might just be what they are looking for.