Bitget Review 2022: Is Bitget Exchange Legit?

Bitget is a cryptocurrency exchange located in Singapore, with Sandra Lou as CEO and Intae Song as Chief sales officer. It lists many cryptocurrencies and tokens that can be traded on the spot or in futures markets, and it has no deposit fees for trading. Bitget has been granted regulatory approvals in Canada, the US, and Australia, making it a reliable exchange.

Bitget Summary

Official Website https://www.bitget.com/
Headquarters Singapore
Found in 2018
Native Token BGB
Listed Cryptocurrencies 250
Trading Pairs 250+
Supported Fiat Currencies USD
Supported Countries USA, Nigeria, Ghana, South Africa, Canada, and more
Minimum Deposit $50
Deposit Fees No Deposit Fees
Transaction Fees Spot Fees: 0.01% Maker Fee, 0.01% Taker Fee
Future Fees: 0.02% Maker Fee, 0.06% Taker Fee
(33% Discount with Promo Link)
Withdrawal Fees 0.0006 BTC
Application Yes
Customer Support Live Chat, FAQ Support, Email, & Social Channel Support

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Bitget exchange is accessible on desktop and mobile devices and has an easy sign-up strategy. Also, it offers copy trades for its customers, excellent rewards, and relevant knowledge. Copy-trading, essentially, lets traders follow automated trading to earn passive income. You can select master traders you wish to replicate by tracking their trading performance and total profitability over time. Bitget’s trading experience is available on the most popular devices and platforms. Our Bitget review provides all the details you need to learn before signing up.

What Is Bitget?

Bitget currently has over 2 million registered users worldwide and has achieved a 24-hour transaction volume of $5.6 billion. January 2022 saw 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 volume of trading by reaching the amount of $7.82 billion.

While the Bitget platform offers its clients low fees for both spot and derivatives trading, 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. Bitget exchange has received licenses from the USA, Canada, Australia, and Singapore; this means that traders of the mentioned countries are legally allowed to conduct trade.

Bitget Exchange User Interface

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The Bitget mobile app is available to both IOS users and Android users. Selecting the best cryptocurrency trading sites is not easy, and making the process easier for you is the goal of this Bitget review.

How Does Bitget Work?

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

Leverage is the capability to invest more than the user has in their bank account. For trading pairs, such as USDT/BTC, Bitget offers leverage of 125x, which means the user can create a position that is 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’ll focus on the different features available on Bitget in this review. Here are the essential features of Bitget:-

Innovative Products

Bitget is an established platform and has a reputation for offering innovative products for its users to trade without converting tokens. It also offers one-click copy trading, and it is one of the leading derivatives exchanges that support the USDC margin.

Industry-leading Security

Most Bitget reviews by users specify that Bitget offers risk control with cold and hot wallets segregation and has 12 A+ratings received from SSL Labs. This cryptocurrency exchange platform security is backed by Qingsong Cloud Security, Armors, HEAP, and Suntwin Technology.

Bitget Benefits

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Excellent Customer Service

Bitget offers its investors 24×7 multilingual online customer support. Also, it provides one-on-one support for its VIP customers and has reward centers 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 it ranks in the top 6 crypto exchanges by its trading volume.

Global Compliance Operations

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

Lower Trading Fees

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

Top Security

Bitget 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.

Features on Bitget

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Is Bitget Regulated?

Our website review shows that Bitget is a legit platform and not a scam. 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.

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 are contracting 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.

Coin-Margined Futures is a brand new futures trading technique that was launched by Bitget. It supports numerous currencies to be used as a margin for different trading pairs. For example, using the currency ETH as a margin, the users can now be able to 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

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Leverage Trading

Bitget provides traders with leveraged trading. They only offer perpetual, which means futures that do not have expiry dates. The maximum leveraged limit price for perpetual 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.

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

Copy-trading can be explained as trading that allows investors or traders to copy the trades, strategies, or the trade positions of other investors. 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 fix 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

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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 allows 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 choose 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.

Buy & Sell Crypto with Bitget

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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-sell a contract, giving them digital currency. Perpetual contracts 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 launching 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

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API Trading

Bitget offers API-initiated trading.

Bitget Review: Pros and Cons

Pros Cons
This platform provides the lowest trading fees. This Bitget exchange does not offer significant assets.
Bitget does not charge you any fees if you want to buy cryptocurrency. The only withdrawal option is crypto.
Provides the Bitget copy trading feature. Crypto trading is prone to higher risks.
The taker fee is 0.10%, and the maker fee is 0.10%. More branding is needed for this exchange.
It supports a multitude of tokens and coins. Customer support needs to be improved.
Provides complete 24×7 customer support.
Transaction fees are negligible.
This exchange has regulation licenses from Australia, Singapore, Canada, and the USA.
Offers unified contract trading

Bitget Registration Process

To open a Bitget account, first, the Trader must download the Bitget mobile app or visit the Bitget site – www.Bitget.com on their desktop. The site is accessible at any time across multiple platforms, including iOS, Android, and desktop applications that run on Mac and Windows. From the home page of the Bitget app or on the right side of the Bitget website, the user will be able to access the sign-up form to sign up for an account to start trading.

No-hassle KYC

Comprehensive Identity Verification, also known as Know Your Customer (KYC) standards are mandatory for all users on the platform to safeguard their accounts from financial and fraud risks. Completing the KYC allows users to access Bitget exchange services and products.

Smooth Verification Process

The process for id verification on Bitget is easy. The Trader needs to verify the verification code sent to their account to verify the identity. Then they need to click on “Account Information” and upload their name, nationality, secure password, first name, and the images of their ID issued by the government. After accessing the id verification code, the user can open an account.

The Trader can fund the account in different ways – one can buy crypto using fiat currencies or transfer crypto funds in their Bitget wallet from a different cryptocurrency wallet. The user should choose the correct protocol like TRC20, ERC20, BEP2, BEP20, ERC20, and others on the platform when withdrawing cryptocurrency. The protocol must be compatible with wallet addresses. The user should take care because crypto investments carry huge risks, and choosing the wrong protocol could lead to losing their money and assets.

Bitget Registration Process

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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 makers 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. In the case of trades in spot, takers and the makers pay the same fee of 0.20%. The fee is reduced to 0.14 percent when the user pays the fees using the exchange’s native token, the Bitget DeFi Token (BFT).

When trading contracts, the trading fees the buyers pay is 0.06 percent; 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 does charge a withdrawal fee of 0.0006 BTC for every BTC withdrawal, and Bitget withdrawal fees are slightly higher than the industry average. The withdrawal fee is the current industry average of 0.00053 BTC for every BTC withdrawal.

Bitget Refferal Program

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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 would like to transfer. The platform will generate the wallet’s address to save it to their wallet, or they can scan the QR code.

Withdrawal Methods

One common user review and opinion are 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 fees for withdrawals, which will be displayed to the user during the withdrawal process. However, they will also be able to 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 have much more flexibility with a maximum of BTC 200 per day.

The withdrawal is dependent 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 Affiliate Program

Bitget exchange is currently creating and offering services on markets across the globe. A tool used to increase the number of clients is its affiliate program. The primary task for the referrer who refers is to get new active traders in Bitget. Bitget issues a referral link and marketing materials to every affiliate to accomplish that.

Bitget Affiliate Program

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The affiliate program is only available for verified customers. Information about referrals and payments is available through the user account section for traders.

Bitget affiliates can withdraw money at any time, with no restrictions. Special offers are available to those who participate in the affiliate program. They can contact and get assistance from professionals at any hour of the day and corporate gifts.

Bitget (BGB) Token Details

BGB is the utility token of Bitget that can be used to empower social trading and beyond. BGB is used for enabling social trading and more. BGB is the official token for Bitget. Apart from being used to obtain discounts on Bitget fees for trading, BGB has multiple use cases in the Bitget’s ecosystem.

The token is an ERC-20 and has these use cases.

  • Fee deduction – It offers the users transaction fees on discount when they trade in the exchange. Also, the users can use BGB margins, and they can get a 15% discount on futures contract transaction fees. In spot transaction fees discount, using BGB, the users can get a 15% discount on futures contract transaction fees.
  • Contract Margin -BGB token can be used as a contract margin in contract trading.
  • Specific Traders who participate in Bitget’s “Trade-to-Earn” program are rewarded with BGB tokens.
  • It provides up to a 20% discount on the trading fee to Bitget traders.
  • Utilizing BGB margins on the “coin margined futures” lets the users take a 15% discount on the charges.
  • Traders can use the Bitget token to secure potential partnership opportunities and the continuous growth that will benefit the trading platform.
  • Before the release of the BGB, Bitget initially used BFT (Bitget Defi Token) as the token of exchange.

Bitget (BGB) Token

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Bitget KCGI

KCGI (King’s Cup Global Invitational) is an important event promoted by Bitget. This trading competition’s main objective is to attract worldwide users and to increase its brand power in the derivatives segment.

Important Details

  • Warm-up -April 25th to May 9th
  • Registration period – May 9th to May 20th
  • Competition period -May 24th to June 10th

Contest Detail

Team Battle with a reward pool of 100 BTC

  • Registration requirements are Net value in Futures ≥ 300 USDT equivalent.
  • Eligible futures are Coin-Margined Futures or USDT-Margined Futures.

How Can You Win?

  • By accumulating the trading volume of captain or individual member ≥ 50,000 USDT equivalent.

Individual Battle with a reward pool of 100 BTC

  • Registration requirements is Net value in Futures ≥ 300 USDT equivalent.
  • Eligible futures are Coin-Margined Futures or USDT-Margined Futures.

How Can You Win?

  • By accumulating individual trading volume ≥ 50,000 USDT equivalent.

Benefit Zone

 It offers,

  • Reward for Deposit
  • Lucky Lottery
  • Early Bird Benefits

Bitget Sponsorship

Bitget has a vested interest in sports and offers sponsorship for major sports, which are explained below:-

Juventus

Bitget announced its partnership with Juventus in September 2021 to become its sponsor. Currently, Bitget is their official partner, first-ever sleeve partner, and cryptocurrency exchange partner.

PGL

Bitget announced its partnership with PGL in October 2021 as its new official partner, which is a much-awaited partnership with the global tournament organizer.

Bitget KCGI

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Bitget Supported & Restricted Countries

Bitget is an exchange that global traders use. It is supported by users from the USA, Nigeria, Ghana, South Africa, Canada, etc.

However, below are some of the restricted countries:-

  • Mainland China
  • Singapore
  • Hong Kong
  • North Korea
  • Macau

Bitget Mobile App

The majority of crypto traders believe that desktops provide the best conditions for trading. The computer is a bigger screen, and larger screens allow for more data that helps traders navigate easily and make their trading decisions simultaneously.

The chart and trading history will be simpler to view. Not all crypto investors need desktops to conduct their trading, and many prefer to conduct their trading on their mobile apps. The mobile app is available in Android and IOS for download from Google Play and AppStore.

Bitget Mobile App

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Bitget Security and Privacy

As per several Bitget reviews, we can say that it offers highly efficient customer protection. The platform is licensed by the regulatory authorities of Australia, Canada, and the US. 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 being allowed to transfer 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).

Bitget Customer Support

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

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

Bitget FAQ Support

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Bitget Review: Final Verdict

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

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

Bitget is a good option if you want an exchange with many smaller 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 an easier process for the security settings it has in place to ensure the safety of its clients.

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

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FAQs

Is Bitget a Safe and Legit Platform?

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

Where Is Bitget Located?

Bitget is located in Singapore.

Can You Use Bitget in the US?

Yes, Bitget accepts members from the US.

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 then send the money to the appropriate withdrawal address.

Is Bitget Safe?

Here are a few reasons stating Bitget is safe:-

  • The exchange was not hacked till now.
  • It ranks high in terms of trade volume.
  • The website is equipped with a secure SSL. Furthermore, a secure cold and hot storage wallet manages users’ money.
  • Bitget is a firm believer in customer service; this makes it a reliable exchange.

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 certain trader to reach their goals without a prior understanding of trading. The copy trade approach has grown in popularity 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 seems like a good idea.

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

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