Bitget Review: Latest Pros, Cons, Key Features & Fees 2023

In the ever-evolving world of cryptocurrencies, trading platforms play a vital role in enabling users to buy, sell, and manage their digital assets.  Bitget, established in 2018, is one such crypto exchange that has garnered significant attention from traders around the globe.

In this Bitget review, we will explore the Bitget platform, delving into its features, pros and cons, supported services, trading options, security measures, and customer support of this platform. Whether you are a novice or an experienced trader, this article will provide you with valuable insights to make informed decisions.

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Bitget Review Overview

✅ Official Websitehttps://www.bitget.com/
✅ HeadquartersSingapore
✅ Found in2018
✅ Native TokenBGB
✅ Listed Cryptocurrency283
✅ Supported Fiat Currencies283
✅ Trading Pairs300+ Cryptocurrencies
✅ Clients Accepted fromUSA, Nigeria, Ghana, South Africa, Canada, and more
✅ Minimum Deposit$50
✅ Deposit FeesNo fees to Deposit Cryptocurrency
✅ Transaction Fees0.10%
✅ Withdrawal Fees0.0005BTC
✅ Platforms AvailableWeb, Mobile
✅ Mobile AppiOS, Android
✅ Payment Types AcceptedWire Transfer
✅ Customer SupportLive Chat, FAQs, and Submit Complaint Support

What is Bitget?

Bitget, headquartered in Singapore, serves as a prominent crypto exchange. Within its platform, users can access an extensive array of crypto coins and tokens, available for trading through both the spot and futures markets, all accompanied by low trading fees.

The exchange has garnered regulatory licenses from notable authorities in the United States, Canada, and Australia, solidifying its reputation as a trustworthy and reliable platform. Bitget caters to a wide user base, providing accessibility through mobile and desktop devices, alongside a user-friendly sign-up process.

Bitget Review What is Bitget

One of the standout features of Bitget is its provision of free copy trading, allowing users to replicate the strategies of proficient traders. For seasoned traders, there are enticing incentives that come with sharing their strategies, making the platform a hub for pro traders seeking to gain followers. Whether you are interested in exploring a variety of small market coins or leveraging the copy trading functionality, Bitget presents itself as an attractive option for your crypto exchange needs.

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How Does Bitget Work?

Bitget offers a wide range of options for its customers, including spot trading, derivatives trading, and copy trading. The platform's Futures trading utilizes perpetual future contracts, which are popular in cryptocurrency trading due to their flexibility and lack of expiration dates.

A standout feature of Bitget is leverage, allowing users to invest more than the funds in their account.

For example: with leverage of up to 125x in trading pairs like USDT/BTC, users can create positions 100 times larger than their initial deposit. However, users should exercise caution with high leverage, as even a slight adverse movement can lead to position liquidation and potential loss of funds.

To manage risks effectively, it's crucial for users to implement prudent risk management strategies while utilizing leverage on Bitget.

Bitget Review: Pros and Cons

Pros

  • Low trading fees
  • Copy trading for free
  • Excellent UI/UX
  • $300M protection fund adds an extra layer of security
  • Direct Crypto Purchases
  • Supports over 150 coins and tokens
  • Provides complete 24×7 customer support.

Cons

  • Crypto is only a deposit and withdrawal method
  • High fee for direct crypto purchases
  • Missing a few major assets
  • Lesser-known exchange
  • Advanced features can be overwhelming for beginners.

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How To Register Bitget Account?

Signing up on the Bitget cryptocurrency exchange is a simple and straightforward process. Here's a step-by-step guide to help you get started:

1. To begin the registration process, visit the official Bitget website and click on the “Sign up” option.

To begin the registration process, visit the official Bitget website and click on the Sign up option2. To get started with your new Bitget account, provide your email address or phone number, and set a password for your account. This information will be used for account registration and login purposes.

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3. After providing your email or phone number during the registration process, a verification code will be sent to the provided contact information. Use this code to verify and activate your Bitget account.

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4. After logging in, navigate to the upper right corner of the homepage. There, click on the profile icon and select “ID Verification” from the available dropdown options.

After logging in, navigate to the upper right corner of the homepage. There, click on the profile icon and select ID Verification from the available dropdown options.

5. Once you're on the new “ID Verification” page, opt for the “Individual verification” option and furnish all the necessary details required for your country.

Once you're on the new ID Verification page, opt for the Individual verification option and furnish all the necessary details required for your country.

6. We highly recommend completing the ID verification process as it will improve your trading experience on the platform by unlocking a wider range of features. To proceed, you will need to provide the following information.

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Congratulations! You have successfully registered on the Bitget exchange, granting you the ability to deposit funds and commence trading. Well done!

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Bitget Exchange Review: Key Features

Bitget Exchange stands out as a prominent platform in the cryptocurrency market, offering a range of key features that cater to the needs of traders. Below are some of the noteworthy aspects that set Bitget apart:

Bitget Review on Spot Trading

Bitget, being a centralized exchange, recognizes the significance of providing a spot trading option alongside its well-known derivatives and copy trading services. Despite its focus on other features, Bitget hasn't overlooked the importance of its spot market. Presently, the platform offers a diverse selection of over 500 cryptocurrencies for trading within its spot market.

Bitget Review on Spot Trading

Accessing the Bitget Spot Market is straightforward: by clicking on the “Trade” tab located at the top left corner and selecting the “Spot” option, users can enter the spot trading interface. Here, they have the flexibility to choose their desired trading pairs. The interface displays candlestick charts for the selected pair, allowing users to analyze market trends effectively. Placing orders is equally simple, as users can directly submit their orders below the relevant chart. With a user-friendly approach, Bitget ensures a seamless spot trading experience for its users.

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Bitget Futures Trading

Bitget Exchange prides itself on its robust Futures trading feature, which comprises USDT-M Futures, USDC-M Futures, and COIN-M Futures.

In Futures trading, traders commit to buying or selling a cryptocurrency asset, like Bitcoin (BTC), at a predetermined price and time in the future. This trading type is categorized as a derivative, as it revolves around the value of the cryptocurrency asset rather than the actual asset itself.

Bitget Futures Trading

Bitget's Futures trading offers leverage of up to 125x, with the specific leverage contingent on the chosen trading pair. Traders can open positions in two ways:

  • Cross: The entire funds in the futures account can be utilized as a margin, spreading the risk and bolstering the account's resilience against potential losses.
  • Isolated: The risk for each opened position is calculated independently, ensuring a more tailored approach to risk management.

When it comes to order types, traders have several options at their disposal, including:

  • Limit: Placing an order at a specified price level to execute a trade when the market reaches that price.
  • Market: Executing a trade at the current market price, offering swift order execution.
  • Trailing Stop: A dynamic stop-loss order that adjusts with favorable price movements to secure profits and guard against losses.
  • Trigger (via trigger or post only): Initiating a buy or sell order when the market hits a specified trigger price or using a post-only option to add the order to the order book without immediate execution.

Bitget offers three distinct futures trading options: COIN-M Futures, USDT-M Futures, and USDC-M Futures. The primary difference among these options lies in the settlement currency used. In USDT-M Futures and USDC-M Futures, all trades are settled in USDT and USDC, respectively. Conversely, in COIN-M Futures, trades are settled in a specific cryptocurrency, such as Bitcoin or Ethereum.

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Review Bitget Copy Trading

Copy Trading is an investment method that allows investors or traders to replicate the trades, strategies, or trade positions of other investors. With the assistance of an exchange like Bitget, copying the trades of other investors can be executed automatically and instantly.

Bitget's Copy Trading allows users to replicate the strategies of experienced traders on the platform for potentially better outcomes. It's free to use, enabling anyone to follow and copy strategies without additional costs. Traders who offer their strategies can earn up to 8% of the profit made by their followers, promoting a mutually beneficial environment where successful traders share their expertise.

For beginners, this is a valuable opportunity to choose top-ranked traders with a proven track record in Profit and Loss (P&L), increasing their chances of success in trading.

Bitget Review Copy Trading 

To initiate Copy Trading on Bitget, users can follow these simple steps:

  1. Choose the trader you want to “Follow,” whose strategies you wish to copy.
  2. Select the desired trading pair that you want to replicate in your own portfolio.
  3. Choose between a fixed ratio or fixed account mode, depending on your preferred copying approach.
  4. Pick the desired leverage type and set the appropriate leverage for your trading preferences.
  5. Choose between isolated or cross-mode, depending on your risk management strategy.
  6. Review the copy trade data and make any necessary adjustments or edits to align with your trading objectives.
  7. Finally, when you are ready, you can close the copied position if and when you see fit.

By following these simple steps, Bitget users can utilize Copy Trading to tap into the strategies and insights of successful traders, potentially improving their own trading performance and results.

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Bitget Spot-Margin Trading

Bitget's Spot margin trading is an option that enables traders to trade with leverage on the Spot market. With this feature, traders have the opportunity to take a long position with leverage, with Bitget offering 3x leverage for cross-margin and 10x leverage for isolated margin. This allows traders to trade a significantly higher amount of cryptocurrency than they actually own. Moreover, Bitget facilitates shorting of cryptocurrencies by lending them to traders, providing greater flexibility and the potential for higher profits.

The process of borrowing and trading with leverage is made convenient and streamlined on Bitget. Repayments of loans are automatically settled when the position is closed, eliminating the need for manual repayments and simplifying the trading process.

Bitget Spot-Margin Trading

Furthermore, Bitget offers multi-currency collateral options, allowing traders to use different types of cryptocurrencies as collateral for their trades, enhancing the versatility and opportunities for trading strategies.

To access the Spot-Margin trading services, users can easily navigate to the Spot-Margin trading option under the “Trading” tab, enabling them to leverage the benefits of trading with leverage on the Spot market through Bitget's user-friendly platform.

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Bitget Launchpad

Bitget Launchpad is a platform feature provided by Bitget, designed to facilitate token sales and initial coin offerings (ICOs) for new cryptocurrency projects. As a Launchpad, Bitget offers a launch platform for these projects to raise funds and gain exposure within the crypto community.

Through the Bitget Launchpad, users can participate in token sales of promising new projects, allowing them to invest in the early stages of these ventures and potentially benefit from their future growth. This gives investors the opportunity to access innovative projects and technologies that may have significant potential.

The Bitget Launchpad typically follows a structured process for token sales, which may include whitelisting, token allocations, and various participation rounds to ensure a fair and transparent distribution of tokens.

Bitget Launchpad

Like any investment, participating in token sales through Bitget Launchpad involves inherent risks. Users are advised to perform thorough due diligence before making any investment decisions. Despite the risks, Bitget Launchpad offers a platform for investors and promising projects to connect and potentially contribute to the growth of the cryptocurrency ecosystem.

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Bitget Strategy Trading

Bitget's Strategy Trading is an innovative product that offers two types of services: free strategy bots for users and subscription-based deals with strategists. The free strategy bots help traders optimize their investments and maximize profits. Currently, there are six different grid strategies available, with more to come.

A standout feature is the ability to copy strategies from strategists either automatically or manually. Subscribing to a strategist allows users to copy all their strategies, benefiting from their expertise.

Bitget Strategy Trading

Users are charged based on their account's fee rate, whether they create or copy strategies, and there are no additional platform fees. Overall, Bitget's Strategy Trading provides a unique and convenient way for traders to enhance their investments and profits. Access this option under the “Trading” tab on the homepage.

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Bitget Earn

Earning passive income on crypto holdings has become a crucial aspect of the industry, and most major exchanges offer earn sections. However, one major negative criticism against Bitget is its limited earn section. The current offering only supports the BGB token, with just two products available, both of which are sold out.

In comparison, platforms like Binance provide hundreds of earn products for various assets, catering to different risk levels. Bitget has significant development work to do if they wish to compete with other crypto platforms in terms of robust earn features.

Bitget Earn

Nevertheless, Bitget does offer Savings products, which can make up for the limitations in the earn section. Being a US-regulated exchange, Bitget faces restrictions in what they can offer to stay compliant with regulators. This could explain the limited choices in the earn section.

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Bitget Savings

Bitget's savings section offers users a great chance to deposit cryptocurrencies and earn daily interest, with the added benefit of flexible fund withdrawal.

The Annual Percentage Yields (APYs) in the savings section are quite attractive, with rates ranging from 1.5% for BTC to 4.0% for ETH, and an impressive 45% for APE. With a selection of 18 assets available for saving, users have a diverse range of options to grow their crypto holdings.

Bitget Savings

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Bitget Fees

In 2023, Bitget made a significant advancement in the competitive landscape by introducing EUR and GBP deposits using SEPA/FPS with absolutely no fees!

  • Deposit Fees: There are no fees for crypto deposits on Bitget.
  • Trading Fees: All financial transactions come with charges, and Bitget is no exception. Bitget's spot trading: 0.1% fee for makers and takers, 20% discount with BGB token (0.08% fee). Futures: 0.02% fee for makers, 0.06% for takers. No deposit fees; withdrawal fees vary per coin and network.
  • Withdrawal fee: Bitget does apply a withdrawal fee of 0.0006 BTC for each BTC withdrawal, which is slightly higher than the industry average. The current industry average for BTC withdrawal fees is 0.00053 BTC per BTC withdrawal.

Bitget Fees

⏩ See fee details here: Bitget’s Fee Schedule Page

Bitget Payment Methods

Bitget's platform ensures a seamless user experience by offering support for various payment methods. Users can easily fund their accounts using familiar options like VISA, Mastercard, Apple Pay, and Google Pay, making it convenient for both beginners and experienced traders to deposit funds.

In addition to traditional payment methods, Bitget also collaborates with trusted third-party service providers to enhance payment accessibility and efficiency. These partners include Mercuryo, Xanpool, and Banxa, known for their reliability and secure processing.

Bitget Payment Methods

The integration of these diverse payment options and partnerships with reputable service providers demonstrates Bitget's commitment to providing a user-friendly and accessible trading environment. This ensures that users can efficiently manage their finances and participate in the crypto market with ease. Whether users prefer traditional payment cards or modern digital wallets, Bitget's payment ecosystem caters to a wide range of preferences, fostering an inclusive and dynamic trading platform.

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Bitget Mobile Apps

While many experienced cryptocurrency traders favor desktops for their larger screens, some also find value in utilizing mobile trading options.

Bitget Mobile Apps

Fortunately, Bitget caters to these traders by offering a mobile app for both iOS and Android users. The mobile app closely resembles the web app, providing almost all the features available on the platform. This enables users to conveniently access and trade cryptocurrencies on the go, ensuring a seamless trading experience regardless of the device they choose to use.

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Is Bitget Legal in US?

That's great news! It appears that Bitget is available in the US, as there are no indications of restricted states mentioned on the Bitget website. US users can likely access and use the platform without any regional limitations.

Bitget Supported Countries

Bitget, an established cryptocurrency exchange established in 2018, has experienced rapid growth, attracting over two million users from 100 nations worldwide. Since its entry into the crypto derivatives market in 2019, Bitget has emerged as a prominent global player in the field of crypto copy trading and derivatives exchanges.

Bitget Review What is Bitget

Recognized crypto asset prices tracking platforms like CoinMarketCap and CoinGecko consistently rank Bitget among the top five exchanges globally in terms of derivatives trading volume. This highlights Bitget's strong market presence and popularity among traders seeking exposure to crypto derivatives.

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Bitget Restricted & Banned countries

Bitget is a global cryptocurrency exchange; however, it imposes certain restrictions and bans on users from specific countries. According to the exchange's terms and conditions, residents of the United States, Singapore, Canada (Ontario, Quebec), Cuba, Iran, North Korea, Syria, and Crimea are not permitted to use Bitget.

Furthermore, access to the platform may also be restricted for users from other countries or regions to comply with local regulations and laws. Such countries include:

  • Malaysia
  • Bangladesh
  • Bolivia
  • Ecuador
  • Kyrgyzstan
  • Republic of Seychelles
  • Bermuda
  • Republic of Congo
  • Yemen
  • Italy

Bitget Review Reliability & Security

Based on several Bitget reviews, it is evident that the platform prioritizes robust customer protection. It operates under licenses issued by regulatory authorities in Australia, Canada, and the US. User assets are safeguarded in separate cold and hot wallets, ensuring added security. The platform's commitment to cybersecurity is demonstrated by its impressive 12 A+ scores at SSL Labs.

For an extra layer of protection, traders are required to enable two-factor authentication before making any fund transfers to the exchange.

Bitget holds three licenses in the US, granted by The Financial Crimes Enforcement Network (FinCEN) under the US Department of the Treasury. In Canada, it is licensed by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), and in Australia, it operates under the authorization of the Australian Transaction Reports and Analysis Center (AUSTRAC).

Bitget Customer Service

Bitget's customer support is known for its efficiency and responsiveness. The platform offers various channels for users to seek assistance and resolve any issues they may encounter while using the exchange.

Users can typically access customer support through email, live chat, or a ticketing system. The support team is well-trained and knowledgeable about the platform's features and services, ensuring they can address users' inquiries effectively.

Bitget strives to provide timely and comprehensive responses to customer queries, aiming to maintain a positive user experience and build trust among its users. Whether it's a technical problem, account-related issue, or general inquiry, Bitget's customer support team is dedicated to providing the necessary guidance and solutions to enhance users' trading experience on the platform.

Contact via email:

Community of Bingx exchange

  • https://twitter.com/bitgetglobal
  • https://t.me/BitgetENOfficial
  • https://t.me/BitgetFuturesTrading
  • https://discord.com/invite/bitget
  • https://www.linkedin.com/company/bitget-global/
  • https://www.reddit.com/r/BitgetReddit/
  • https://www.facebook.com/BitgetGlobalOfficial
  • https://www.youtube.com/channel/UCVNcRXxyCSyzVUKp0IxCNTw
  • https://www.tiktok.com/@bitgetofficial

Bitget vs Bybit

Bybit and Bitget are two well-known global cryptocurrency trading platforms, each boasting a substantial user base and handling billions of dollars in daily trade volume.

Bybit has established itself as a top player in derivatives and futures trading. It supports various trading options, including spot, margin, options, and futures, with the ability to leverage up to 25x on 350 cryptocurrencies. Additionally, the platform offers additional features like staking and lending.

On the other hand, Bitget has gained recognition as a leading no-KYC exchange accessible worldwide, providing support for over 300 cryptocurrencies. It gained popularity as an alternative to Bybit after the latter introduced mandatory KYC verification. Bitget also stands out for its high leverage, offering up to 100x on its listed assets.

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Supported Cryptos

283


168


Exchange Fees

Taker Fee

0.1%

0.06%

Maker Fee

0.1%

0.01%

Withdrawal Fee

0.0005

0.0005

Deposit Methods

Wire

Credit

More

US Allowed

Offers Derivatives

Active Since

2018


2018


Bitget vs Binance

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$100 + 20% Discount Fee

Supported Cryptos

283


446


Exchange Fees

Taker Fee

0.1%

0.1%

Maker Fee

0.1%

0.1%

Withdrawal Fee

0.0005
0.0002

Deposit Methods

Wire

Credit

More

US Allowed

Offers Derivatives

Active Since

2018


2017


Conclusion

In conclusion, Bitget is a feature-rich cryptocurrency exchange that caters to the needs of both novice and professional traders. Its user-friendly interface, coupled with advanced trading tools, makes it a compelling choice for those looking to venture into the crypto market. However, users should remain cautious of the risks associated with leveraged trading and ensure they comply with the platform's verification requirements.

Frequently Asked Questions About Bitget

Is Bitget safe to use?

Yes, Bitget prioritizes security and employs various measures to safeguard user funds and data.

Can I use Bitget on my mobile device?

Absolutely! Bitget offers a mobile app for both Android and iOS users, allowing trading on the go.

What are the fees for trading on Bitget?

Bitget charges competitive fees for trading, including maker and taker fees, which vary based on trading volumes.

Does Bitget support fiat-to-crypto trading?

Yes, Bitget supports fiat-to-crypto trading through various payment methods.

Is Bitget suitable for beginners?

Certainly! Bitget's user-friendly interface and educational resources make it an excellent choice for beginners stepping into the crypto market.

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