Bitget Review 2023

Bitget is a relatively young cryptocurrency exchange and digital assets trading platform established in 2018, according to Wikipedia. Despite being a young market player, the exchange is currently outperforming its competitors in terms of daily trading volume. As of the end of November, the daily trading volume of the exchange amounted to $289,904,993, according to Coinmarketcap. The crypto exchange is visited daily by 1.2 million people from over 50 countries. The company has offices almost on all continents, most of them in Europe.

Bitget offers a choice of 512 trading pairs and 383 cryptocurrencies. This indicator can be regarded as quite high. The list of available currencies also includes fiat money: USD, EUR, GBP and 12 more options. Bitget is also a crypto exchange that offers copy trading, i.e. an opportunity to copy trades of experienced traders to improve your chances of earning a worthy profit.

The exchange holds two licenses from the U.S. and Canada. The regulatory authorities are FinCEN, the U.S. Treasury’s Financial Crimes Enforcement Network, U.S. Department of the Treasury, as well as the Financial Transactions and Reports Analysis Centre of Canada.

All client data received by the exchange are encrypted. The assets are held in cold Bitget wallets. New clients can access Bitget Academy, where they can learn the intricacies of trading on this platform, read the news of the exchanges, etc. All of this provides a solid positive answer to the question of whether Bitget can be trusted. Promos are an additional advantage of the exchange the clients can use to earn extra income and possible bonuses.

Bitget Rating

Total score	7.4
Commissions and fees	9
Security and regulation	7
Markets	8
Passive income	8
Account opening	8
Deposit and withdrawal	6
Trading platforms	8
Analytics	4
Education	8
Customer support	7
Bonuses	8

Bitget Pros and Cons

Basic information

The fees charged by Bitget cryptocurrency exchange are definitely very attractive compared to the offers of other platforms. Judging from Bitget exchange reviews, for example neither taker nor maker have to pay additional fees for trading. In terms of futures trading, the exchange also charges rather loyal fees: 0.02% and 0.06% for makers and takers respectively at the initial level. However, it is possible to reduce the fees by increasing your 30-day trading volume. Notably, by reaching a new level of the VIP program, traders can also increase their withdrawal limit.

Trading fees

In spot trading, neither maker nor taker fee is charged under the current offer. At that, trading volume, VIP level or other factors are not taken into consideration. These conditions are valid for all trading pairs. In addition, it is possible to get an additional 0-2.5% discount on spot trading fees. The discount amount depends on the number of cryptocurrency exchange’s tokens held by a trader at a specific moment. Most likely, this bonus will become more substantial once the fees are no longer zero. The discounts are distributed as follows:

• Up to 10,000 BGB – 0%;
• 10,000-50,000 BGB – 0.5%;
• 50,000-100,000 BGB – 1%;
• 100,000-200,000 BGB – 1.5%;
• 200,000-300,000 BGB – 2%;
• More than 300,000 BGB – 2.5%.

By reaching the top level, a user receives better conditions for spot trading regardless of the chosen trading pairs. However, it needs to be considered that the crypto exchange reserves the right to independently interpret the specified conditions. To find out the latest information, you can contact Bitget customer support service and receive answers to all your questions.

Unlike the spot market, futures trading is charged with trading fees. The fees for beginners with 30-day trading volume lower than 10 million USDT are as follows:

• 0.02% – maker;
• 0.06% – taker.

By growing their assets and 30-day trading volume, traders can reduce the fees. The table below provides more details on the fees.

Average commission compared to competitors

The average indicator for each category is calculated for spot trading, excluding discounts for transactions involving the crypto exchange’s native token.

The available information confirms that the Bitget exchange indeed offers good conditions for those interested in spot trading regardless of the currency they choose to work with.

Margin lending

The clients of the Bitget cryptocurrency exchange can use borrow funds for trading futures. This allows traders to trade bigger volume and increase their profit in the future. The available leverage directly depends on the chosen type of derivative. For example, if a trader is interested in a BTCUSDT contract, he/she can use leverage up to x125. The leverage for a ETHUSDT contract is up to x100. For trading an APTUSDT contract, the available leverage is x25, etc.

To learn more details on the conditions, you need to visit the Futures trading section on the exchange’s website and select a contract. At the bottom of the right panel, you will be able to see the available leverage. There is no need to pay an additional fee for using the loan.

Borrowed funds cannot be used in spot trading. Traders can only trade with their own money.

Official licenses serve as one of the guarantees of safety and reliability of the Bitget crypto exchange. The platform holds the licenses of the regulatory authorities of the U.S. and Canada, specifically the following:

• FinCEN, the U.S. Treasury’s Financial Crimes Enforcement Network;
• Financial Transactions and Reports Analysis Centre of Canada.

Availability of open information on Bitget regulation confirms that the crypto exchange does not violate industry laws and standards, guarantees safety and security of user data, and in case of a dispute is prepared to resolve them in a lawful manner.

In addition, the crypto exchange employs advanced and proven technologies to ensure confidentiality of data and safety of user funds on their accounts. The data is encrypted using SSL, and also a number of third-party tool providers are used to ensure that internal information is completely secure.

The number and diversity of markets offered by the platform can be considered as higher than average. The users are offered access to more than 500 trading pairs, which include the most popular cryptocurrencies as well as brand new ones. Fiat money is also available.

Pros and cons of market diversity on Bitget

Bitget markets

Cryptocurrencies (spot)

The crypto exchange offers a wide selection of currency pairs for spot trading. These include both popular options, such as BTC/USDT, ETH/USDT, EOS/USDT and others, as well as less popular ones: ABBC/USDT, DOGE/BTC, TRX/ETH, etc. In the Spot section, traders can view the latest currency prices and their performance. The price chart can be set for the required time period: from 1 minute to 1 week.

Notably, you can use BGB, the native token of the Bitget cryptocurrency exchange, in spot trading. Using BGB provides you with an opportunity to choose relevant trading pairs with beneficial prices and also receive additional discounts on fees.

Cryptocurrencies (futures)

Compared to many competitors, the number of contracts at the exchange is quite satisfactory at around 100. The most popular contracts include BTCUSDT, ETHUSDT, APTUSDT, and XRPUSDT. Also less popular options are available, for example LUNCUSDT, JASMYUSDT, BANDUSDT and others.

Staking is one of the classic passive income options at the crypto exchange. By locking a certain share of their assets, the platform’s clients can earn a daily reward, which depends on the current percentage yield of a specific cryptocurrency. Staking AXS is the most profitable option, as the APY in this case will be up to 20%. Conditions for staking USDT are also rather attractive, with APY at up to 12%. For other cryptocurrencies, the annual percentage yield varies within 1-6%.

Copy trading is an option that should be discussed separately. It allows users to copy trades of successful market participants, improving their changes at earning higher returns. To use this service, you need to select a suitable trader by using special filters. Next, you need to specify certain settings, such as margin, leverage, etc. Once you’ve completed these steps, the trades will be copied automatically.

Launchpad is another passive income option at the exchange. Clients can invest in chosen projects by the time of their launch. Subsequently, after they become popular and their capitalization increases, all investors can earn a certain percentage of rewards.

The exchange also offers a rather beneficial Referral Program and an option to invite friends for a certain reward. It is quite easy to become a partner of the crypto exchange. All you need to do is receive a referral link and publish it on your personal resources: social media, forums, blogs or websites. The task is to invite as many potential users, who would like to register and trade on Bitget, as possible. The more new clients you invite using the referral link, the higher is the reward.

Inviting friends is even a simpler way to earn passive income. In this case, the reward ranges from 10 USDT to 3,000 USDT. And you can earn up to 30% commission on every trade your friends make. Also, the friends who join the platform under this program can earn certain rewards.

In order to start using the services of the Bitget exchange, a user needs to register first. It is quite easy and takes very little time. Another advantage is that the clients can use the services of the crypto exchange even without passing verification. However, you need to keep in mind that verification opens access to additional bonuses and coupons that can make trading even more profitable.

If a user wants to pass verification, he/she will need to receive a verification code in an SMS and provide information confirming their identity.

Account opening on Bitget

Residents of which countries can trade at the exchange?

The cryptocurrency exchange is available practically in all countries. Since it holds an official license, its operation is not prohibited in the territories where trading is legal. However, there are a number of countries whose residents cannot become Bitget clients. These are Singapore, China, Macau, North Korea, Iran, Syria, Afghanistan and Cuba. If traders from these regions want to use the services of the exchange, they will have to use a VPN service.

How to open an account on Bitget:
a step-by-step guide

It is not difficult to register at the Bitget crypto exchange. However, there is a certain algorithm that you need to follow. It is recommended to review the instructions in advance, so that the registration runs smoothly. Below, you will find details of all main steps.

Step

1

To start registering on Bitget, a new user needs to open the menu in the top right corner of the screen and click Sign Up.

Step

2

After you click on the registration button, an electronic form will open. You can choose one of three ways to register: Email, Mobile number or Google/Apple ID. In the first two cases, you need to provide your contact information and come up with a password. If you have a referral code, you will need to enter it in the registration form. For registering with Google/Apple ID, you will be redirected to your user profile and will only have to sign in.

Step

3

Next, you will need to enter a verification code (if you register with a mobile number or email). Depending on the registration method, you will receive a combination of figures either as an SMS to your phone or a verification code to your email. Make sure you enter the right numbers in the right boxes.

Step

4

Once you’ve confirmed the verification code, you can access your account. You will be offered options of how to make a deposit: crypto from your crypto wallet or buying crypto with fiat money.

Once you’ve deposited funds to your account, you can start trading on the official website of the Bitget crypto exchange.

Minimum deposit

Account types

Registered users of Bitget receive access to one wallet they can use for all their financial transactions. They can deposit funds to their account, perform transfers and withdraw funds from Bitget. Deposits can be made with a large number of cryptocurrencies, including the popular ones, such as BTC, USDT, ETH and others, as well as BGB, the token of the exchange. Deposits in fiat are not accepted, but fiat money can be used to buy cryptocurrencies. There are several payment methods available.

The Bitget crypto exchange also offers a demo account for futures trading. There is a separate tab in the menu for the demo account. Opening an additional account is not required.

To check the account balance, deposit or withdraw funds, you need to use the Wallet button on the homepage of the Bitget website. By clicking on it, a user can select the required option and open the section with the above options shown below.

To replenish your account, you need to click Deposit and then select the deposit cryptocurrency and the financial method.

The withdrawal algorithm on Bitget is the same. You need to click Withdrawal and take the same steps as above. In each case, you need to provide the address for the financial transactions, which ensures their security.

As for the deposit and withdrawal limit of the Bitget platform, they depend on the chosen currency. The transaction fees also depend on it. You can find the relevant information in the Fee Schedule section. You can find the button in the footer of the website. Clients of the exchange can always find out the relevant information by contacting the Bitget customer support service.