Bitget Review

Bitget Ratings at a Glance

Bitget offers a competitive fee structure with a maker-taker model, rewarding active traders and larger account holders. The exchange's fees are comparable to major platforms like Binance, positioning it in the mid-range of cryptocurrency brokers.

The tiered VIP system provides progressively lower fees for high-volume traders and well-capitalized accounts. Bitget's commitment to transparency is evident in its clear explanations of key terms and fee structures, helping users optimize their trading strategies.

Additional benefits include considering total trading volume across all accounts for VIP status calculation and using the native BGB token for promotional rewards and trading discounts. These features add value for frequent traders and those managing multiple accounts.

Bitget has an impressive range of trading tools and platforms. Most are geared toward advanced cryptocurrency traders, so keep that in mind when perusing the features and assets.

Bitget Spot Trading

Spot trading is the most basic form of cryptocurrency trading, where users simply buy and sell their desired tokens. Bitget supports over 800 listed tokens, with new releases featured on the Launchpad.

Bitget Copy Trading

The copy trading feature lets users emulate their favorite investors' spot or futures trading activity. You can follow and copy your preferred users or use a bot to automate the process entirely. There’s also an Insights page for market commentary and conversation.

Bitget Futures Trading

Bitget futures trading offers over 200 asset pairs with copy trading features. Users can trade futures in USDT or USDC, and contracts can be perpetual or for delivery.

Bitget Quanto Swap Contracts

Quanto swaps, usually only found in forex markets, allow traders to use multiple cryptocurrencies as collateral for margin or loans while paying a single rate. Although the collateral is in multiple tokens, the settlement occurs in a single cryptocurrency like ETH.

Bitget Launchpad

Launchpad works to provide information and opportunities to traders looking for the newest projects and tokens. Traders can pledge Bitget’s native cryptocurrency BGB and gain early access to upcoming projects like new tokens, NFTs, or software and hardware products.

Bitget Strategic Trading

Similar to Copy Trading, but for strategies and techniques instead of mirroring another user’s account. Strategic trading uses algorithms to develop bots specific to particular trading methods and utilizes these bots to execute orders during specific market conditions.

Bitget Savings

Bitget users can have their accounts function as savings vehicles by earning interest on deposited crypto. Flexible savings allow for redemption anytime, while fixed savings offer higher rates with a 30 or 60-day lockup period.

Bitget Earn

Earn is riskier than Savings but offers more opportunities to earn income from your assets. Earn offers higher rates for on-chain staking, wealth management services, and Shark Fin, which offers different interest rates based on current digital token spot prices.

Bitget supports a wide range of crypto assets, but you must use the correct platform features to access them all. Spot trading offers 800 digital tokens to buy and sell, but futures contracts limit this number to 200 pairs. However, if you’re using the swaps feature, over 20,000 assets are available, including NFTs and other Web3 products. Users can also access thousands of new tokens and NFTs as they’re announced through the Launchpad feature. Bitget doesn’t have the most extensive library of digital assets, but it supports far more than traditional exchanges like Coinbase.

Bitget is supported in many countries worldwide, but a few notable exceptions lower this rating. For starters, users in the United States cannot sign up, including those in territories like Puerto Rico, the U.S. Virgin Islands, American Samoa, and Guam. Traders in Canada, Cuba, the Netherlands, Iraq, Libya, and Yemen can also not use the service.

Bitget had a strong presence in Hong Kong a few years ago, but that operation has also closed. To check your eligibility, review the Restricted Countries list on the Bitget Terms of Service page and make sure you are in one of the 170 approved countries.

Bitget is not for novice traders, so if you’re looking to simply buy some BTC and hold it in a cold wallet, you can probably find less complexity using a more generic app. But if you’re an experienced cryptocurrency enthusiast, your user experience will be positive.

Both the web and mobile app platforms are polished and straightforward. Users are onboarded quickly through sign-up and can often begin trading shortly after confirming their identities. Clients can fund their accounts using various fiat options, such as bank accounts or credit cards, or by transferring digital assets from an outside account. The exchange also offers hard wallets for security and a monthly Proof of Reserves report to ensure compliance.

Bitget’s mobile app is a key feature of the platform. It boasts a sleek and user-friendly design and requires minimal time to learn. Although Bitget targets advanced traders, the app remains accessible to anyone familiar with smartphones.

Three components worth highlighting:

• Easy Access: The platform’s features and tools are in a single directory, so users don’t need to constantly tap or swipe their screens to find their desired function.

• Charting Tools: Investors using technical analysis in trades will find no drop-off in quality or available indicators when using Bitget’s charts.

• Timely Newsfeed: Found under the Flash tab, this newsfeed provides up-to-the-minute news and reports on cryptocurrency markets and economic data.

In addition to a host of crypto sign-up promotions and benefits, Bitget has some helpful features to guide users through the platform. Some of the top ones include:

• Early access to new projects and tokens is available through the Launchpad feature.

• A newsfeed and insights page where users can check market-making stories and discuss trading and strategy with other users.

• Bitget Academy, a deep library of learning with over 2,000 articles and videos, covers topics ranging from specific token launches to the basics of blockchain and Bitcoin.

Cryptocurrency exchanges aren’t well-known for their extensive customer support options. Bitget has better customer service than most international crypto exchanges but still lacks phone support or prompt responses to chat inquiries. The AI chatbot is available 24/7 and can help with basic questions, but reaching a live agent involves a significant waiting period. If you want to email your request and await a response, contact support@bitget.com.

Bitget has a robust collection of safety features but nothing industry-breaking that puts them ahead of the competition. The platform offers (and recommends) two-factor authentication for all accounts, has a monthly Proof of Reserve publication to show customer funds are held in matching 1-to-1 reserves, and an additional $400 million Bitget Protection Fund to protect from cybersecurity threats.

Bitget is an impressive exchange with many promotions and benefits for new sign-ups. The app is intuitive, and you don’t need an excessive onboarding operation if you’re a regular crypto trader. The automated and copy trading features allow you to set up your own self-running system, and there are over 800 tokens for spot trading. The only downsides are the lack of access for United States clients and the intimidation factor that such an expansive platform gives inexperienced investors.

Bitget vs. Competitors

Bitget is an advanced cryptocurrency trading broker with more bells, whistles, and complexity than simple apps like Coinbase or Gemini. Instead, Bitget aims to compete with other advanced exchanges that promote social trading, like eToro, Crypto.com, and Kucoin. While copy trading is far from a unique feature, Bitget’s sleek software and host of bonuses and promotions make it an enticing option compared to other exchanges.

Frequently Asked Questions