Bitget Review – Is Bitget Safe? Features & Fees Explained
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Bitget is a global cryptocurrency exchange platform that has been in operation since 2018, offering a massive range of markets and tradable assets. Boasting a user-friendly interface, top-tier security methods, and low trading fees, Bitget is an excellent option for both beginners and advanced investors.
This article explores our in-depth Bitget review for 2023, covering everything crypto traders need to know about this popular exchange before presenting a quick-step walkthrough showcasing how traders can get set up with a Bitget account in minutes.
Table of Contents
What is Bitget?
Bitget is a leading crypto exchange that serves over eight million clients worldwide. The exchange’s average daily trading volume exceeds $10 billion, making it one of the world’s top 15 largest crypto trading platforms.
The exchange bolsters its security even further by guaranteeing at least a 1:1 reserve ratio for customer funds and storing the vast majority of these funds offline in multi-sig wallets.
Regarding trading services, Bitget offers access to the spot and futures markets. Fees are low across the board, with traders also able to get involved with Bitget’s world-famous “copy trading” feature. More than 410,000 traders use this feature.
Finally, Bitget differentiates itself from similar exchanges by offering a selection of features that make it a one-stop shop for traders and investors. These features include a crypto launchpad, a crypto savings account, an earnings protocol, and even a “PowerLotto” with daily BGB prizes.
Bitget Pros & Cons
Before taking a deep dive into our Bitget review, here’s a quick overview of the key pros and cons of using this exchange:
Pros
- Low and transparent trading fees
- Free copy trading feature
- Offers 24/7 multilingual customer support
- Provides both P2P trading and third-party trading options
- Various markets to trade, such as the spot market and futures market
- Huge leverage ratios offered
- Can deposit in FIAT currencies
Cons
- Minimum withdrawal amount for each asset
- Restricted in certain countries
Your capital is at risk.
Bitget Supported Markets
One of Bitget’s most prominent features is its vast range of markets and trading options for clients. Unlike other exchanges, Bitget offers both spot and futures trading, ensuring the platform appeals to traders of all experience levels.
At the time of writing, the Bitget exchange offers over 450 cryptos and crypto/crypto pairs to trade. This includes popular coins like Bitcoin and Ethereum and many of the best altcoins, such as 1inch and The Graph.
Regarding the futures market, Bitget offers contracts settled in USDT and USDC, along with COIN-M futures that support various well-known cryptos as universal margins. Moreover, clients can even benefit from P2P trading services, which enable purchases to be made directly from verified merchants – with no fees.
However, Bitget’s copy trading feature is where the exchange really excels. With this feature, clients can automatically copy the trades placed by experienced Bitget traders without doing any prior research. This is ideal for beginners or those with full-time jobs who cannot complete extensive analysis each day.
Clients can copy trades on both the spot and futures markets, with over 100,000 traders available to follow. For those with market experience, there’s even a feature that allows market insights to be uploaded to the Bitget community, which can be a fantastic self-promotion method before launching a copy trading profile.
Bitget Platforms
Those looking for the best crypto exchange to trade with will be glad to know that the trading experience with Bitget is top-notch. There is a dedicated Bitget mobile app, which we’ll discuss in the next section, although the browser-based platform is just as good and provides an array of valuable tools designed to streamline the trading process.
The browser-based platform can be accessed by clicking the “Trade” tab on Bitget’s homepage. This platform contains all of Bitget’s products and services, including the spot and futures markets. Some of the key features included in the platform are:
- Various order types (e.g., limit orders, market orders, stop-limit orders)
- Technical indicators (e.g., MACD, RSI, moving averages)
- In-depth market data, such as the order book and market trades
- TradingView-powered price charts
- A detailed section highlighting open orders, order history, and fund record
The fact that all of Bitget’s tools and services are compiled into one handy interface is ideal since traders can complete analysis and open positions without having to switch back and forth between different pages. Moreover, those traders involved with copy trading or strategic trading can easily automate the process through this interface.
Bitget App
Those looking for one of the best crypto apps will be buzzed with what’s on offer from Bitget. The Bitget app is downloadable for free on iOS and Android devices and boasts over 12,000 reviews on Google Play.
This app is a portable version of the web-based platform, ensuring those who prefer to trade while on the go aren’t missing out on any key features. Technical indicators, market data, real-time price updates, and multiple order types are just some of the features available through the Bitget mobile app.
In terms of design, the app has a sleek, dark interface that is easy to navigate for beginners. App users can still view Bitget’s Proof-of-Reserves data and access the copy trading feature, much like PC users.
However, the app is great for active traders since positions can be opened with just a few taps. Bitget even enables users to fund their balance through the app using either crypto or several FIAT currencies.
Bitget Fees
Naturally, one of the biggest focuses of this Bitget review was the platform’s fees. As with all crypto exchanges, fees will vary depending on the market being traded, the trading volume, and whether certain digital currencies are used.
Given that the spot trading market is likely Bitget’s most popular option, it’s great to see that the exchange only charges a flat 0.1% maker/taker fee. This fee is the same regardless of which asset is being traded or how large the position size is – making it easy for traders to know exactly how much they’re paying.
Excitingly, traders can even reduce this fee by 20% if they invest in BGB – Bitget’s native token. Traders can simply buy some BGB, hold the tokens in their account, and the reduced trading fees will be automatically subtracted from the token balance.
Those looking to operate in the futures market will pay a maker fee of 0.02% or a taker fee of 0.06%. Again, this stays the same regardless of the crypto asset being traded.
Note: Traders involved with the strategy copy trading feature will have additional fees to pay. These include a one-off fee paid to the strategist for permission to use the strategy and a monthly subscription fee.
Bitget Deposits & Withdrawals
When traders look to invest in cryptocurrency, one of the first factors to consider is how easy it is to make deposits and withdrawals. In the case of Bitget, the process is simple, cheap, and accessible – regardless of which platform is used.
For deposits, traders can fund their accounts with crypto for free using Bitget’s user-friendly interface. The platform will provide a scannable QR code for instant crypto deposits, although traders can also make manual transfers if they prefer.
Those that don’t want to deposit crypto can still buy crypto using FIAT currencies, such as USD and EUR. The specific methods will vary depending on the currency used, although they include credit/debit cards or bank deposits. In terms of the latter, only EUR, GBP, and BRL are currently supported, although the former supports a wider variety of FIAT currencies.
Moving onto withdrawals, Bitget does charge a set withdrawal fee that varies depending on the crypto asset being withdrawn. There’s also a minimum withdrawal quantity to be aware of; for example, clients must withdraw at least 0.008 BTC.
As an add-on to this section, clients can even deposit their crypto assets directly into Bitget’s “Savings” feature. This allows clients to generate daily interest on their holdings which can be redeemed at any time – no lock-up period is required.
Is Bitget Safe?
When looking to buy cryptocurrency, one of the biggest concerns for would-be investors is whether the platform is safe or not. Thankfully, Bitget has various security features designed to protect client holdings and safeguard users from cyber attackers.
Some of Bitget’s most prominent safety features include two-factor authentication (2FA) for logins/withdrawals and biometric verification for those using the mobile app. In addition, Bitget also has a “Proof-of-Reserve” page that provides evidence that the exchange has a 1:1 ratio of reserve assets using a Merkle Tree data structure.
As if that wasn’t enough, Bitget has a protection fund that now amounts to $300m. This fund provides an additional layer of protection against cyberattackers and enables clients to apply for reimbursement in the unlikely event that any of their funds are stolen.
Bitget Customer Service
Another essential aspect we analyzed during our Bitget review is the exchange’s customer service options. Bitget’s customer service is exceptional, offering a variety of features geared toward both beginners and advanced investors. These features include 24/7 multilingual support via live chat and email and a personalized one-on-one setup for VIP clients.
Pretty much all queries can be answered in seconds through Bitget’s FAQs section, which clients can search for specific keywords and phrases. The platform even has a “Feedback” section where clients can submit advice on various topics, from safety to design, which Bitget’s team will review and put into action if applicable.
How to Get Started with Bitget Today – Full Walkthrough
Before rounding off this Bitget review, it’s vital that we take a closer look at the process of actually using the exchange. With that in mind, listed below are the four steps that would-be investors can take to get started with Bitget today – all of which can be completed in less than 15 minutes:
Step 1 – Create a Bitget Account
The first step is to create a Bitget account. This can be done by heading to the Bitget website and clicking “Sign Up.” Provide an email address or phone number on the following page, then create a strong password.
Your capital is at risk.
Step 2 – Verify Account
Once an account has been created, the next step is to verify the account. This can be done by clicking the “ID Verification” tab on the Account page and providing the personal details needed for Bitget’s KYC checks.
Following this, users must upload Proof of ID (e.g., a passport photo) and then take a selfie showing the oval shape of their face. Bitget will then verify these uploads and send an email confirmation when the account is good to go.
Step 3 – Make a Deposit
If traders wish to fund their accounts with crypto, head to the Account page and click “Assets.” Choose which crypto will be deposited, click “Deposit,” then use the wallet address that shows up to make a crypto transfer from an external wallet.
Those wishing to fund their accounts using FIAT (e.g., via a bank deposit) must select their chosen currency from the “Buy Crypto” tab, then choose which method they’d prefer. Bitget will then provide easy-to-follow instructions on how to facilitate a deposit.
Step 4 – Buy Crypto
Now it’s time to buy crypto. Traders must choose the market they’d like to trade (e.g., the spot market) and search for which crypto asset they’re interested in. An order box will appear at the bottom of the screen, where traders can input their position size and order type. Once everything has been double-checked, all that’s left to do is confirm the transaction.
Bitget Review – Conclusion
In conclusion, Bitget has proven itself a safe and user-friendly platform for beginners and experienced traders. Offering a vast range of cryptocurrencies, a cost-effective fee structure, and a pioneering copy trading feature, Bitget is ideal for anyone interested in the crypto market.
Those looking to get started with Bitget today can create an account in minutes through the official website. Simply click the link below, opt to “Sign Up,” and follow the on-screen instructions to gain access to the exchange and begin trading immediately.
Your capital is at risk.
FAQs
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