Bitget Review 2024: Is Bitget Crypto Exchange Legit?

Welcome to our comprehensive Bitget review, a leading cryptocurrency trading platform established in 2018. Under the dynamic leadership of CEO Sandra Lou and Chief Sales Officer Intae Song, Bitget Exchange has garnered a reputation for reliability, security, and innovation in the crypto space. With over 630 cryptocurrencies available for trading, Bitget offers a diverse range of options for seasoned traders and market newcomers.

This Bitget exchange review delves into the features, benefits, and overall user experience of the trading platform, empowering you to make informed decisions in your cryptocurrency trading journey.

Bitget Summary

Official Website https://www.bitget.com/
Headquarters Singapore
Found in 2018
Native Token BGB
Listed Cryptocurrencies 630+
Trading Pairs 500+
Supported Fiat Currencies 140+ (including EUR, USD, CAD, AUD, and more)
Supported Countries Germany, France, Italy, Netherlands, Belgium, and more
Minimum Deposit $50
Deposit Fees No Deposit Fees
Transaction Fees Spot Fees: 0.01% Maker Fee, 0.01% Taker Fee
Futures Fees: 0.02% Maker Fee, 0.06% Taker Fee
Withdrawal Fees 0.0006 BTC
Application Yes
Customer Support Live Chat, FAQ Support, Email, & Social Channel Support

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Bitget Exchange: Pros and Cons

Pros

  • Bitget trading fees are the lowest in comparison to the competition.
  • Bitget does not charge you any fees if you want to buy cryptocurrency.
  • Provides the Bitget copy trading feature.
  • The taker fee is 0.10%, and the maker fee is 0.10%.
  • It supports a multitude of tokens and coins.
  • Provides complete 24×7 customer support
  • Transaction fees are negligible.
  • Offers unified contract trading

Cons

  • Bitget exchange is not available in all countries
  • Crypto trading is prone to higher risks.

What Is Bitget?

A renowned cryptocurrency trading platform over 8 million registered users worldwide and has achieved a 24-hour transaction volume of $10 billion. January 2022 Bitget ranked #3 globally in terms of the daily average for future trading in terms of volume, thanks to its featured product, Coin-Margin futures, which achieved an all-time high trading volume by reaching $10 billion in 2024.

Bitget crypto platform

While the Bitget crypto platform offers its clients low spot and derivatives trading fees, the main focus is trading with derivatives. A derivative is an instrument based on the liquidation price of a financial asset such as a bond or stock bond. The Bitget mobile app is available to both IOS users and Android users. Selecting the best cryptocurrency trading sites takes work, and making the process easier for you is the goal of this Bitget review.

How Does Bitget Work?

Bitget trading platform offers spot trading as well as derivatives trading and copy trading. There are many choices for customers to select based on what they want. Bitget Futures trading uses perpetual future contracts, standard contracts for difference, and a popular derivative tool in cryptocurrency trading.

Based on our Bitget review, leverage is the capability to invest more than the user has in their bank account. For trading pairs, such as USDT/BTC, Bitget offers a leverage of 125x, meaning the user can create a position 100 times the amount they deposit. So, even the slightest movement against their Bitget account will liquidate the position, and the user will be unable to access their funds.

Exciting Features on Bitget

We will focus on the different features available on Bitget in this review. Some of the essential features are listed below:

Innovative Products

Bitget Exchange is an established platform with a reputation for offering innovative products for its users to trade without converting tokens. It also provides one-click copy trading, one of the leading derivatives exchanges supporting the USDC margin.

Industry-leading Security

Most Bitget user reviews specify that the Bitget crypto platform offers risk control with cold and hot wallet segregation and has 12 A+ ratings from SSL Labs. Qingsong Cloud Security, Armors, HEAP, and Suntwin Technology back the security of this cryptocurrency exchange platform.

Excellent Customer Service

Bitget platform offers its investors 24×7 multilingual online customer support. Also, it provides one-on-one support for its VIP customers and has reward centres for the crypto community.

Lucrative Derivatives Trading

Bitget Exchange offers a self-developed trading pairs system for its traders. It has numerous one-of-a-kind derivative products and ranks in the top 6 crypto exchanges by trading volume.

Global Compliance Operations

Bitget trading platform has obtained licenses from Canada, Australia, and the US. This exchange has solid regulatory standards and is listed on CoinGecko and CMC.

Lower Trading Fees

Bitget charges 0.1 % for any spot market trades made by both takers and makers. The Bitget fees are reduced to 0.08 % if fees are paid with Bitget’s native token, BGB.

Top Security

Bitget platform protects the assets of investors in separate cold and hot wallets. According to their website, they have been awarded 12 A+ scores at SSL Labs. Investors can enable two-factor authentication before they are permitted to deposit money into the cryptocurrency exchange.

Bitget Token

A user can use the BGB tokens to settle for transaction fees and receive a 20% discount on fees and a 15 percent discount on futures trading. In total, the issued amount of the BGB tokens is 2,000,000,000. The BGB holders enjoy multiple benefits from holding and trading BGB tokens.

Range of Services Offered by Bitget

Here is the list of services offered by Bitget:-

Profitable Futures

Bitget offers USDT-M Futures, USDT-M Demo, Coin-M Futures, and Coin-M Futures Demo through Futures. When users trade futures, they contract to buy or sell an asset in cryptos, such as BTC, to a different trader at a current price and time shortly. It is a derivative since the trader exchanges with the crypto asset’s value, for instance, BTC, but not the actual asset.

Bitget Futures Trading

Coin-Margined Futures is a brand new futures trading technique that Bitget launched. It supports numerous currencies as a margin for different trading pairs. For example, using the currency ETH as a margin, the users can now trade BTCUSD, ETHUSD, and EOSUSD, and the profit and loss will be determined in ETH.

Here are the steps to trade coin-M futures:-

  • Go to the Bitget coin-M futures trading page
  • Transfer your funds to the futures account
  • Start trading by opening a position
  • After trading, close the position
  • Finally, check for profit and loss
  • Profitable Futures Trading with Bitget

Leverage Trading

This Bitget review highlights Bitget’s leveraged trading that is available in perpetuity, which means futures that do not have expiration dates. The maximum leverage limit price for endless can be 100x 100 times the value. Leveraged trading can result in massive returns, and it can also lead to huge losses.

Copy Trading

The Bitget copy trading feature lets users copy-trade the strategies of other users on the platform at no cost for better trading. Anyone can follow any trader and start copy-trading their strategy and portfolio without cost. For traders, they could make up to 8% of the profit of their followers and so develop effective strategies with copy trading.

Bitget copy trading

Beginners may easily make passive income, while experienced traders can share their techniques and profit from their follower’s gains. When you complete a copy trade for the first time, you receive a $30 coupon.

According to this Bitget review, Copy-trading can be explained as trading that allows investors or traders to copy other investors’ trades, strategies, or trade positions. If you are an investor, copying the trades of other investors can be executed instantly and automatically.

Here is the step-by-step process of copy trading:-

  • Choose your preferred traders to “Follow.”
  • Choose the desired trading pair that needs to be copied
  • Select fixed ratio or fixed account
  • Select the leverage type
  • Set the leverage
  • Switch to isolated or cross-mode
  • Check the copy trade data or edit
  • Finally, close the position
  • Copy Trading by Bitget

Quanto Swap Contract

Quanto Swap Contract Trading is an exclusive feature by Bitget. This feature lets users use various crypto assets they have as collateral and then trade crypto on margins using a variety of crypto trading pairs. One of the main benefits of Quanto is that it allows you to retain the charges for the conversion of coins to coins and also enables you to collect profits earned from the higher value of the coin.

All you have to do is choose your preferred trading pair, order type, and leverage. After you’ve provided the quantity and order price, you’ll need to select your order’s direction.

Derivatives Trading

In essence, derivatives are contracts that draw their value from an asset. The assets could include currencies, currency rates, commodities, stocks, exchange rates, etc. Derivative trading involves selling and buying financial instruments on the stock market. And the profit is earned by anticipating future price changes.

Perpetual Contracts

Perpetual contracts are among Bitget’s most popular products, and Bitget has spent a lot of time refining them. Investors are offered the choice of investment, buying and learning a long-term commitment, or short-selling a contract, giving them digital currency. Perpetual agreements work in the same way as spot trading based on margins. The most notable characteristic of Bitget Perpetual contracts trading is its funding cost mechanism, which ensures that the price index used to determine the contract is tracked.

Bitget Launchpad 

Launchpad is a new platform launched by Bitget Exchange for establishing featured project token rewards. Users can win featured launching projects rewards by holding crypto assets or exchanging them. The most recent project they launched was Karmaverse (KNOT), a metaverse gaming platform with built-in blockchain technology.

Bitget Launchpad

API Trading

Bitget offers powerful APIs that allow you to access market data programmatically.

Here’s how to use the Bitget API:

  • Log in to your Bitget account.
  • Apply for an API key and configure its permissions according to your needs.
  • Refer to the API documentation for details on how to use the API for your specific requirements.
  • Remember, the documentation is the official source of information for the Bitget API, so be sure to check it regularly for updates.

Bitget Exchange Registration Process

Steps for Opening a Bitget Account:

Bitget Exchange account opening

  1. Download or Visit Bitget Platform:
  • Download the Bitget mobile app from your app store or visit the Bitget website (www.Bitget.com) on your desktop browser.
  • The platform is accessible on iOS, Android, Mac, and Windows devices.

2. Access Sign-Up Form:

  • On the Bitget mobile app, navigate to the home page.
  • On the Bitget website, locate the sign-up form typically on the page’s right side.

3. Fill Out Sign-Up Form:

  • To create your account, provide the required information, such as email, username, and password.

4. Complete KYC Verification:

  • To comply with KYC standards, all users must undergo identity verification.
  • This process safeguards accounts from financial and fraud risks.

5. Verify Identity:

  • Upon receiving a verification code, enter it to verify your identity.
  • Navigate to “Account Information” and upload necessary information like name, nationality, etc.

6. Fund Your Account:

  • Choose from various funding options:
  • Buy crypto using fiat currencies.
  • Transfer crypto funds from another cryptocurrency wallet.
  • When withdrawing cryptocurrency, select the correct protocol (e.g., TRC20, ERC20, BEP2, BEP20).
  • Take caution, as crypto investments involve substantial risks; choosing the wrong protocol could result in loss of assets.

Following these steps, you can successfully open an account on Bitget and begin trading.

Bitget Fees

Bitget Trading Fees

When the user places an order, the exchange will charge them a fee for trading. The fee for trading is usually an amount that is a fraction of the value of the trade. Many exchanges split the maker’s and takers’ fees; takers take a current order from the order book, while makers make additions to the book of orders, which creates liquidity on the platform. The taker fee is 0.1% or 0.1% spot trading fee, and the maker Fee is 0.20%.

At Bitget, it is crucial to understand spot trading options and contracts. Regarding trades in spot, takers and the makers pay the same fee of 0.20%. The cost is reduced to 0.14% when the user pays the fees using the exchange’s native token, the Bitget DeFi Token (BFT).

When trading contracts, the buyers’ trading fees are 0.06 %; with a discount, it comes to 0.04%; also, the user will get a 33% market order if they click the link to register, while makers pay 0.02 percent.

Bitget Withdrawal Fees

Bitget’s withdrawal fees are automatically adjusted based on the market status. Bitget does charge a withdrawal fee of 0.0002 BTC for every BTC withdrawal, and Bitget withdrawal fees are lower than the industry average.

Bitget Payment Methods

Bitget has quite a few deposit and withdrawal options. In 2021, Bitget introduced a few deposit methods to buy crypto using fiat via two payment processors such as Banxa and Mercuryo. You can use Mastercard, VISA, Apple Pay, and Google Pay as payment options to buy crypto. The exchange does not charge fees for fiat currency deposits.

Because this trading platform accepts fiat currency deposits, it qualifies as an “entry-level exchange.” However, the various payment gateways charge specific fees that have to be paid to buy crypto and are not controlled by the exchange.

Deposit Methods

Bitget makes it very easy for users to buy and sell crypto. Bitget lets the user transfer fiat currency only by wire transfers for depositing cryptocurrency, not with a credit or debit card.

Depositing cryptocurrency is simple. When the user clicks the “Deposit” button, they are taken to a web page that lets them select the cryptocurrency they want to transfer. The platform will generate the wallet’s address to save it to their bitget wallet, or they can scan the QR code.

Withdrawal Methods

One common user review and opinion is that withdrawals are easy on Bitget. When users open the window to withdraw, they can enter the same information and the amount they want to withdraw. The exchange will charge withdrawal fees, which will be displayed to the user during the withdrawal process. However, they can also navigate the complete list of these charges on the website.

If the user has not completed the KYC procedure, the daily withdrawal limit will be BTC20 or equivalent in other cryptos. Those who have completed the verification process are more flexible, with a maximum of BTC 200 daily.

The withdrawal depends on the exchange’s network and is not controlled by the exchange. The user must wait until the transaction has attained sufficient validations before the funds are credited to their account.

Bitget Supported Cryptos

The platform introduced spot trading options as well as derivatives trading. However, it is focused on trading derivatives. The supported cryptos are Adventure Gold Coin, Cardano Coin, Bitcoin Cash, EOS, SushiSwap, ChainLink Coin, Ethereum Classic, Filecoin, Litecoin, KNCL, Polkadot Coin, Ripple, Tezos, Tether, Uniswap, TRON Coin, yearn. finance, Ethereum, and Yield Guild Games.

Bitget Supported & Restricted Countries

Bitget is an exchange that global traders use. It is supported by users from Afghanistan, Algeria, Belgium, Benin, Chile, Cuba, Georgia, Guatemala, Laos, Malaysia, Panama, Portugal, Switzerland, Great Britain and Northern Ireland, the United States of America, Guatemala, Argentina, Colombia, Venezuela, Brazil, Norway, etc.

However, below are some of the restricted countries:-

  • Canada (Alberta)
  • Crimea
  • Cuba
  • Hong Kong
  • Iran
  • North Korea
  • Singapore
  • Sudan
  • Syria
  • United States
  • Iraq
  • Libya
  • Yemen
  • Afghanistan
  • Central African Rep
  • Congo
  • the Democratic Republic
  • Guinea
  • Bissau
  • Haiti
  • Lebanon
  • Somalia
  • South Sudan and the Netherlands

Bitget Mobile App

The Bitget crypto mobile app made crypto trading way more accessible than before. With this mobile platform, traders can execute transactions anytime and anywhere, ensuring they take advantage of market opportunities. The mobile app gives a smooth user experience, with interactive interfaces and advanced features that empower new and experienced traders alike. The Bitget mobile app was launched to simplify the complex crypto trading concept and allow users to navigate charts, analysis tools, and much more swiftly. Moreover, the application syncs with the live data to let users make an informed and accurate decision.

Bitget Mobile App

Bitget Security and Privacy

Bitget offers highly efficient customer and data protection. The regulatory authorities of Australia, Canada, and the US license the platform. They protect the assets of users in separate cold and hot wallets. According to their website, it has been awarded 12 A+ scores at SSL Labs. Traders must activate two-factor authentication before transferring funds to the exchange.

The exchange has three licenses for the US from The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury, from Canada with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), and in Australia through Australian Transaction Reports and Analysis Center (AUSTRAC).

Is Bitget Regulated?

Our review shows that the Bitget trading platform is legit. The site has an authentic HTTPS connection, which means that all information and communications between users and the website are secure. The massive traffic generated by the site has made Bitget one of the most well-known crypto exchanges, giving more reasons to be confident.

Bitget Customer Support

There are various ways to contact Bitget customer service. If users need help understanding what they should trade, Bitget provides live chat, detailed tutorials, and guidelines for all process aspects. The site also has a frequently asked questions (FAQ) section, covering the fundamentals the user could otherwise miss.

Bitget customer support

If there is a matter of concern or you are facing other issues with trades, they can contact the help desk by clicking on the help chat bubble at the lower right corner of their display. Customer Support is always there to answer all queries.

Bitget Review: Our Final Verdict

We’ll conclude our Bitget exchange review on a positive note.

Bitget has established itself as one of the top crypto exchanges in the market to provide users with “better trading, better life.”

Based on this Bitget review, Bitget is a good option if you want an exchange with many more minor market currencies and the opportunity to copy trade. The platform aims to provide a fair and extensive trading experience. Bitget has all the requirements for trading, both for beginners and advanced traders. The exchange will benefit from a more straightforward process for the security settings it has in place to ensure the safety of its clients.

Because of its many unique features like a futures trading platform, and low Bitget Futures fees, the exchange shines as one-of-a-kind. The platform’s ease of use and low fee makes it ideal for anyone interested in navigating the trading sphere and buying crypto.

FAQs

Is Bitget Legit and a Safe Platform?

Bitget has been proven to be safe and reliable. The exchange utilizes bank-level security to safeguard its users’ funds. It is rated A+ for 12+ rating in SSL indicators. The majority of users’ funds are kept within cold wallets. The company has developed a system to provide security for the company’s information and assets.

Can You Use Bitget in the US?

No, Bitget does not support users from the US or the following countries: Canada (Alberta), Crimea, Cuba, Hong Kong, Iran, North Korea, Singapore, and more.

How Do I Deposit Money into Bitget?

After setting up your account, the user should transfer funds and start trading. The good news is that making deposits and withdrawing users’ funds is as simple as possible. To deposit funds, click the button on the asset you want to deposit and send the money to the appropriate withdrawal address.

Can Beginners Use Bitget?

Bitget is unique due to its distinctive and innovative trading solutions, one of which is the Bitget One-Click Copy Trade. New users can follow a particular trader to reach their goals without a prior understanding of trading. The copy trade approach has become popular among those who lack knowledge but wish to learn about crypto trading. Bitget is one of the most popular trading platforms today and has many positive reviews, so investing in this platform is a good idea.

Investment Advice: Cryptocurrency investment is prone to high market volatility. Investors should do their research and review before investing in cryptos.

Disclaimer: This page does not solicit or recommend investments, nor does it provide trading or financial advice. Before investing in cryptocurrencies or engaging in securities trading, you should conduct thorough due diligence, including consultation with a certified financial advisor. We accept no liability for any financial losses incurred.

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