Bitget 2024 Review: Features, Fees

With an exceptional trading volume that puts it among the largest platforms of its kind, Bitget is a well-known participant in the derivatives exchange market. But Bitget offers more than futures; customers can buy cryptocurrencies straight with fiat money or trade on the spot market. This adaptability serves a wide spectrum of investors and traders.

Bitget’s futures market offers high-stakes traders the chance to leverage margin trading, which increases possible gains through high leverage. The platform also facilitates trading bots, allowing traders to automate their tactics and improve their trading experience. Bitget’s social trading function benefits novice traders since it lets them practice by imitating more seasoned traders’ techniques.

Furthermore, with its Bitget Earn program, Bitget provides a passive revenue stream, adding to its allure beyond active trading. Staking some cryptocurrencies allows users to profit from an annual percentage dividend on their holdings. This function offers a passive revenue stream inside the Bitcoin ecosystem to people who want to amass more coins and tokens without actively trading.

What is Bitget?

Bitget, a widely respected cryptocurrency exchange based in 2018, also stores over 20 million users from over 100 countries. The best support the platform as it sees partners like the football legend Lionel Messi. In October 2022, Bitget signed a two-year agreement with Messi to create a path for his fanbase to use Web3 and trade cryptocurrencies on the Bitget exchange.

Since 2021, Bitget has become the first official crypto sponsor for PGL company, joining top esports events like PGL Major Stockholm 2021 and PGL DOTA 2 Arlington Major 2022. Bitget performed excellently in the first half of 2023, according to the report by TokenInsight on Crypto CEX 2023 Q2 Highlights. As revealed in the report, the exchange held the top 4 positions in trading volume, and market share increased to 8.1%. Q1 2023 accounted for $10.8 trillion in overall trading volumes, with Bitget at 6.65% of the market share.

Moreover, in the spot market, the company’s spot market share doubled from 2% to 6% at the end of Q2. As confirmed by CCdata in August 2023, they reached the industry’s highest growth record in the platform derivatives market share.

Which Cryptocurrencies Are Tradeable on Bitget?

Bitget offers a comprehensive spot exchange with support for over 700 trade pairs and over 600 crypto coins. Notable players include Bitget’s tokens, BGB, USDT, USDC, ETH, and BTC. The exchange serves a broad range of traders and investors by providing an easy-to-use interface for trading several cryptocurrencies.

In May 2019, Bitget made USDT-margined futures accessible to inexperienced traders, making learning how to trade easier. In contrast to coin-margined futures, where traders require the appropriate cryptocurrency to place long or short bets, USDT futures, and margin trading are the most accessible entry points for traders. Bitget, in collaboration with Circle, unveiled USDC-margined futures in July 2021. This development benefits traders by providing additional alternatives for margin trading and enabling Bitget to extend its product line.

Bitget offers a variety of futures options in over 130 trading pairs, such as coin-margined futures, USDC-margined futures, and USDT-margined futures, allowing traders to choose from various trading strategies. Surprisingly, the platform’s token, BGB, seized the lead in 2023, irritating even well-known cryptocurrencies like Bitcoin. BGB’s outstanding performance and future in the cryptocurrency industry are demonstrated by its 220% gain and five new top rankings in 2021, as seen by its last trading price of $0.58 on October 16.

The CSR Project at Bitget

In August 2019, the crypto exchange Bitget launched Blockchain4Youth, a social responsibility project to motivate and educate young people about crypto technologies and their applications. A major portion of the $10 million will be dedicated to the project over the next five years, demonstrating the company’s commitment and vision.

Blockchain4Youth promotes educational outreach through Bitget Academy, a center for blockchain courses and certification programs designed to provide beginners with comprehensive theoretical knowledge and the practical skills needed to apply blockchain. Bitget partners with recognized universities worldwide, organizing campus lectures as vehicles for information propagation and triggering student interest in blockchain. The project began the educational phase by launching a series of blockchain courses in Bitget Academy in late May.

Bitget Fee

Bitget offers a straightforward fee structure for spot and futures trading. Paying these fees enables traders to manage their costs effectively.

Deposit Fees: Depositing cryptocurrencies into your Bitget account comes free of charge. Many exchanges follow this practice to encourage users to transfer funds without extra costs.

Spot Trading Fees: For every spot trade, Bitget charges a standard 0.1% fee for both Makers and Takers.

• Discount with BGB: Users can obtain a 20% discount on spot trading fees by paying with BGB, Bitget’s native token. The trading fees are automatically covered if you hold BGB in your account. If your BGB balance falls short, the original payment method bears the full fee.

• Activating BGB Discount: To activate the BGB discount, navigate to ‘Asset’ and click the ‘BGB fee discount’ box under the ‘Spot account’ tab.

Futures Trading Fees: The fee structure differs slightly for futures trading. Makers pay a 0.02% fee, while Takers pay a 0.06% fee per trade.

Withdrawal Fees: Bitget’s withdrawal fees are flexible and adapt to market movements. Stay informed by regularly checking their fee schedule page for the latest rates. From 2023 onwards, staking BGB tokens unlocks a daily allotment of free withdrawals, offering a cost-saving opportunity for active traders.

Calculating Futures Trading Fees

• Order value x charge rate = Transaction charge is the formula.
• Order value = Contract count x Contract cost.

Copy Trading

In May 2020, Bitget debuted the first crypto exchange copy trading features, solidifying its position as a leader in this cutting-edge offering. Since then, the site has extended copy trading to include futures and spot markets. With the help of Bitget’s technology, novice traders (called followers) may emulate the positions and trading methods of seasoned traders (called elite traders). Using this strategy, followers may profit from professional traders’ experience and track record, increasing their earnings and understanding.

More than 130,000 professional traders share their trading tactics on the Bitget platform. As to the Bitget website, over 650,000 individuals regularly track these top traders, resulting in a cumulative profit of over $430 million. The platform encourages expert traders to share their ideas through rewards, recognition, and other incentives.

Thanks to Bitget’s user-friendly interface, users may quickly and easily start copy trading by selecting an expert trader to follow. By adopting these strategies, which expert traders have proven, users may increase their earnings and learn important insights and methods from seasoned traders.

Bitget’s Copy Trading Types

Futures Copy Trading: This tool enables users to mimic the futures orders of expert traders, catering to those interested in futures markets.

Elite Spot Trades: Customers may mimic the spot market deals of elite traders using the “Elite Spot Trades” function.

Bot Copy Trading: Customers may automate their trading process using professional approaches by purchasing a trading bot or subscribing to a strategist.

Get Insights: Consult with trade experts to learn about industry advancements.

The veterans’s wisdom can guide the newcomers to the markets through Spot or Futures Copy Trading. Instead, investing in a bot or signing up to a strategist for automated solutions might be better. Bitget lets traders rise to stardom: beans to become elite traders sharing strategies and managing subscriptions of followers, earning up to 10% profit share, reward, and ‘Star Trader’ recognition. Strategists earn from monthly membership, and they get their recognition in the world. Consequently, Insights Creators give presentations and talk about their achievements to grow the presence of their profits in the trading community.

Bitget Earn

Bitget Earn is a comprehensive asset management platform that offers high-yield and secure financial products. It caters to diverse investment needs and preferences through offerings like Flexible Savings (earn daily interest on crypto deposits with anytime redemption), Shark Fin & Dual Investment (products with varying risk-reward profiles), and plans for more options in the future. Users can select products aligned with risk tolerance, subscribe, earn interest, and redeem earnings.

Upon subscription, funds are deducted from the user’s spot account. After a two-day processing period, interest is paid daily. The platform simplifies the process, allowing users to earn interest on their crypto holdings while managing risk through product selection.

Launchpool & Launchpad

Bitget limits Launchpool function access only to BGB-coin holders who have passed through the KYC verification process. However, residents of some countries are excluded from accessing them. This site shows the earned rewards on an hourly basis. Users check it as often as it suits them; they do not need to log in anywhere else. One of the notable perks is its flexibility; investors can take their stakes out whenever they want, giving them more independence over their investments.

Bitget launched separate pools exclusively for beginners. For existing users, Bitget created a referral reward program for referrals who invite new users. This move has greatly accelerated investors’ average yield, effectively making it one of the go-to options for people aiming to grow their income.

Alongside this, Bitget has a Launchpad where users can stake and harvest iconic or newly launched tokens, allowing them to invest in such projects at the initial levels.

BGB Airdrop

The Bitget platform rewards BGB token holders by airdropping newly listed cryptocurrencies directly to their wallets. This Super Airdrop feature emphasizes the inherent value of holding BGB, as it grants access to fresh digital assets upon their listing on Bitget.

Before registering for the airdrop, BGB holders must keep a minimum balance of 4,000 BGB tokens for a continuous period of 15 days to be eligible for the Super Airdrop.

Bitget calculates the allocation of airdropped tokens based on the average BGB holdings during this qualification window, ensuring a fair distribution proportional to each eligible holder’s commitment.

User Experience

With its multilingual support system, Bitget caters to a global user base by supporting many languages, including English, Korean, Japanese, Russian, Spanish, Portuguese, Turkish, Vietnamese, French, German, and more. The platform improves the user experience through integrated Frequently Asked Questions and risk disclosures within most pages, thus allowing newbies to scan and explore.

Bitget has recently added a new address book option that allows users to add up to 50 addresses of deposits, making transactions and record-keeping organization simpler. Consequently, it is, to date, the first crypto exchange with an Ethereum Virtual Machine-compatible address, which will allow traders, transactors, and asset holders to work through multiple blockchains and still use the same address, serving as a great simplicity enhancer.

Bitget Payment Methods

For instance, Bitget provides a cross-boarded avenue for customers, as different user preferences for cryptocurrency are taken into consideration. For user convenience, digital assets are readily available for fiat exchange using a straightforward Quick Buy option, P2P trading, or direct credit/debit card purchases. Some arrangements with third-party payment processors are also possible for maximal convenience.

The platform also has an attractive interface that is compatible with both the website and mobile application and is geared to lead users to buy easily. Desktop users will begin the process by signing into their Bitget account and clicking “Buy Crypto,” while mobile users will begin by tapping the “Add fund” option. By doing so, the designers ensure continuous alignment between the process of investing in cryptocurrency and the user interface, thus creating a smooth experience.

Desktop Users:

Mobile Users:

Express Payments

With Bitget’s “Express” feature, customers can choose the quickest ways to purchase cryptocurrency for speedy transactions. All users have to do is click the “Quick Buy” button.

The platform supports over 140 fiat currencies, 100+ cryptocurrencies, and more than 70 payment methods, including well-known ones like Mastercard, Visa, SEPA, and SWIFT.

P2P Trading 

Users can utilize local currencies to purchase cryptocurrency directly from certified merchants through Bitget’s P2P Trading platform.

This approach provides flexibility regarding costs and modes of payment. From the “P2P Trading” page, the platform offers a straightforward method for choosing desired cryptocurrency and fiat currencies.

Users that trade peer-to-peer (P2P) have greater control over their transactions and can select conditions that best suit their needs.

Credit/Debit Card Payments

Users can use credit or debit cards to purchase cryptocurrency. The ‘Credit/Debit card’ page on Bitget facilitates this procedure by allowing users to select their preferred payment method (fiat or cryptocurrency), input their card details, and finalize their orders.

Third-Party Payment Providers

Bitget has partnered with several safe digital currency service providers to accommodate users who would rather use third-party services.

Users may choose their favorite cryptocurrency, payment method, and currency on the ‘Third-Party’ page.

Bitget Accepted Countries

Bitget is a worldwide platform; nevertheless, it is crucial to remember that it complies with international laws and regulations, which leads to some limitations in particular nations or areas.

Furthermore, according to the details in Bitget’s “Identity Verification FAQ section,” the platform cannot give its services to customers from different nations and areas because of several legal and regulatory restrictions.

These nations and areas consist of:

• United States
• Canada (Ontario)
• Cuba
• Crimea
• Hong Kong
• Iran
• North Korea
• Sudan
• Singapore
• Syria

FAQ

Is Bitget a secure website?

Bitget prioritizes security and has implemented several safeguards, such as required KYC processes and cold storage for digital assets. With the operation of a US$410 million Protection Fund, its security structure is strengthened. Its regular upgrades to the Proof of Reserves and VASP registration in Poland and Lithuania increase the platform’s reliability.

Which nation is Bitget’s owner?

Bitget has a Seychelles registration. Since its founding in 2018, it has grown internationally, serving over 20 million users in more than 100 nations. According to international regulatory and legal norms, Bitget operates as a worldwide platform, even if its headquarters is in Seychelles.

Is copy trading on Bitget legal?

Indeed, Bitget’s copy trade is authorized. It was the pioneer cryptocurrency exchange that launched this function. Less seasoned traders can replicate the tactics of seasoned traders on the site because of its transparent methodology.

Conclusion

One of the largest cryptocurrency exchanges, Bitget serves a wide range of users, from novices to seasoned traders, and offers more than 500 crypto trading pairs, including options like USDT/USDC-margined futures.

Moreover, its quick expansion, especially in the bad market, demonstrates its resilience to market swings. Bitget has cemented itself as one of the leading futures trading platforms worldwide, registering a jump in transaction volume of more than 300% in 2022.

The BGB token airdrop and Bitget Card, which Bitget just announced, demonstrate how the platform combines cryptocurrency utility with more practical uses.

Moreover, Bitget is a competitive and dependable platform because of its unique features, robust security measures, and regulatory compliance. Its emphasis on the user experience and ongoing adjustments to meet market demands point to a bright future for the exchange.

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