What is Bitget?
Bitget is a centralized cryptocurrency exchange registered in Seychelles. It established itself as a leading platform for crypto derivatives trading, offering its services to professionals and beginners alike.
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Committed to security and transparency, Bitget has become a reputable platform for over 8 million users worldwide, peaking at over $10 billion in 24-hour transaction volume. It is currently a top-5 futures trading platform and a top-10 spot trading platform, according to Coingecko.
Bitget’s User Protection
As part of its commitment to transparency, Bitget offers different layers of protection for its users. Its proof of reserves is publicly available on the official website. As of Jun 8 2023, the reserve ratio is 223% which means that for every 1$ that a user holds on Bitget, the exchange holds $2.23 equivalent assets in BTC, ETH, USDT, and USDC.
As per Nansen’s recent report, Bitget is also the exchange with the second largest protection fund in the crypto industry, with $330M held in Bitcoin, USDC, and USDT. On top of that, all addresses of storage wallets are public and shared on the exchange’s website.
Bitget’s Products
A major highlight of Bitget is its well-thought-out, advanced futures trading platform. Two position modes are available: cross (all funds in a futures account can be used as a margin to distribute risk) and isolated (risks of each position are independent). It also has several options for order types. The leverage on futures on Bitget can be up to x125, depending on the specific pair.
Bitget spot trading has over 450 coins available for trading. Users with prior crypto exchange experience will find it quick and effortless to use the TradingView-powered spot trading screen.
Bitget Quanto Swap contracts are a feature exclusive to Bitget that allows traders to use crypto assets as collateral in their margin trading transactions. Traders retain chargers for the conversion of coins and collect profits earned from token appreciation.
Bitget Earn offers an opportunity to earn stable returns using a number of different investment tools for different risk levels. Risk-averse investors can choose between Bitget’s savings options with daily interest on almost 50 assets. Investors interested in higher yields can use Bitget Launchpad, which gives early access to potentially lucrative projects selected by the exchange team.
Bitget Token Details
The native utility token of the platform — Bitget Token (BGB) — is an ERC20 token. BGB empowers social trading at considerably lower fees. It can also be used as a contract margin in contract trading.
Fees on Bitget
Bitget constantly works on reducing fees, and in January 2023, the platform announced that the fees on EUR and GBP bank deposits were lowered to zero.
There is a 0.1% commission for transactions on the spot market, but fees reduce to 0.08% when paid in BGB. For contract transactions, fees are 0.02% for the maker and 0.04% for the taker.
Opening a Bitget Account
Opening a Bitget account is a quick and straightforward process that can be done in the Bitget mobile app or on its website. It takes only 2 minutes, and users can sign up with their Google or Apple accounts for additional login security.
Customer Service
Bitget offers reliable 24-hour customer support through email, live chat, and other popular channels. The platform strives to address user inquiries and concerns promptly and efficiently. Bitget acknowledges that it deals with live money and is committed to resolving issues quickly.
The exchange also offers one-to-one support for VIP subscribers.
Is Bitget Legit and Safe?
Bitget is a safe and reliable platform with the highest regard for security. The exchange has industry-leading technologies to protect its customers, earning it an A+ rating in 12+ SSL indicators. The company keeps user funds in cold wallets and has a $300 million protection fund held in Bitcoin, USDT and USDC.
Bitget puts a high emphasis on transparency and takes proactive steps to support the sustainable development of the cryptocurrency industry. The exchange shares its Merkle Tree Proof-of-Reserves monthly, which promotes complete transparency and enables a comprehensive cryptographic audit of its assets.
Merkle Tree is an efficient way to store and verify data: the tree's structure prevents tampering, making funds stored Bitget verifiable and traceable. The exchange has also created a verification tool for users to audit their assets’ reserves online.
Does Bitget Work in English-speaking regions?
Yes, Bitget operates in English-speaking regions. After creating your account, you can use all of the exchange’s services. To deposit crypto and fiat funds, click the button on the asset you want to deposit and send the money to the appropriate withdrawal address. Upon identity verification, your daily withdrawal limit will rise from 100 USD to 3,000,000 USD.
How to Buy Crypto with Bitget
After creating an account and depositing, Bitget gives you various options to buy crypto. The fastest way is to use a credit or debit card. If you are using GBP, bank deposits are available with zero fees. The funds will be immediately deposited into your account.
P2P trading is also available on the platform, and you can easily buy crypto from verified merchants with zero fees. Buying various cryptocurrencies from different third-party providers is also possible.
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