Bitget Exchange Review
Bitget is a centralized exchange that occupies #14 on Guru InvestingExchange Tracker. Bitget has trading volume US$1,449,618,405 in the last 24 hours and US$327,927,250,466 in the last 7 days.
Bitget currently has 697 cryptocurrencies, 15 paper currencies and 949 markets (cryptocurrency trading pairs). Most popular trading pair on Bitget: BTC/USDT.
Compare Bitget next to other exchanges here: Exchange comparison tool.
Bitget is a centralized cryptocurrency exchange (CEX) registered in the Seychelles. This is known as copy trading platform. Cryptocurrency exchange Bitget, founded in 2018, offers spot and derivatives markets, demo and copy trading, and direct cryptocurrency purchases.
The platform is KYC compliant and requires identity verification to access financial transactions. Customers from Singapore, China, the US and several other countries cannot access Bitget spot trading or derivatives trading, as well as other services offered by the platform.
Markets
Clients can trade by choosing from over 400 Bitget trading pairs. There are more than 350 digital assets on the list. The markets support both crypto-crypto and crypto-fiat trading. In addition, digital assets can be purchased using payment methods such as bank cards or through direct orders to P2P trading platform. P2P orders do not require additional fees.
In addition to individual purchases, users can also participate in GroupCoin. This service allows buyers to join groups for group ordering of cryptocurrency. Using this feature, you can purchase digital assets for as little as half the market price.
Bitget hosts its own token of the same name (BGB). Users who hold BGB tokens in their accounts are entitled to preferential rates of trading commissions. You can learn more about the price and market capitalization of Bitget cryptocurrency by clicking Here.
While spot markets and derivatives markets are Bitget’s two main services, it also offers a wide range trading instruments:
- Network trade
- Copy trading
- Demo trading
- Trading bots
Network trade Available for both spot and futures traders. This allows clients to trade multiple buy/sell orders within a selected Bitget cryptocurrency price range. Users can manually create their preferred grid settings or use automatic recommendations.
Copy a deal in one click is a feature that allows users to follow strategies used by other traders. They can view trades posted by Bitget’s most famous traders and choose which strategy they want to copy. Additionally, users can join Star Trader Recruitment Program attract new large traders to join the user base.
Demo trading This is a service available to futures traders. By following market data, users can place orders just like in a regular futures market. The demo tool simulates the result of an order. Demo trading reduces the risk of losing assets when testing trading strategies.
Trading bots provide an automated trading option that allows users to trade around the clock without having to actively monitor the market. Instead, a bot is configured to automatically place orders and conduct transactions.
The futures market on the Bitget cryptocurrency exchange offers three types of margin contracts with leverage up to 20x:
- USDT-margin futures
- USDC-margin futures
- Coin-margin futures
The spot market does not charge any fees for exchanging Bitget. This applies to both regular and grid trading. Individual users may also be eligible to receive additional benefits such as free tokens and VIP upgrades. Trading fees and conditions are subject to change at the discretion of the company.
Futures contracts trade at a fixed maker-taker rate of 0.020% and 0.060%, respectively. VIP users pay according to a five-tier structure. The VIP level is determined by the volume of 30-day futures trading or holdings. All values are expressed in US dollars. Additional discount applies to BGB owners.
Bitget does not charge any fees for cryptocurrency deposits. Withdrawal fees and minimum amounts may vary depending on the asset chosen. Bitget provides ongoing updates regarding the suspension of deposits and withdrawals.
other services
In addition to the Bitget cryptocurrency exchange, users can access other financial services and benefit programs. Rewards program allows users to complete daily tasks and earn cash rewards such as tokens and coupons.
Bitget Savings This is a program that earns interest. Clients can deposit crypto assets into one of the selected contracts and receive profits according to the terms. You can choose between fixed and flexible contracts. You can automatically set up an automatic transfer to deposit assets from your Bitget spot account.
Bitget Launchpad is a platform to support new and future blockchain-based projects. Investors can purchase tickets using BGB to gain early access to projects or receive tokens as rewards for their contributions. Bitget Launchpad should not be confused with Bitget launch poolwhich is a “bet and earn” service.
Earn BGB is a service for growing crops. Users can stake their BGB tokens to receive passive rewards. This service requires compliance with KYC. The typical bet duration is 3 or 7 days. The minimum Bitget cryptocurrency price to start betting is 100 BGB, and the upper limit is 100,000 BGB.
About company
Founded the cryptocurrency exchange Bitget Sandra Lu in 2018. The company’s headquarters is registered in Singapore.
In March 2020, the company received a license from the US Financial Crimes Enforcement Network (FinCEN). The Money Services Business (MSB) license gives the exchange permission to conduct Bitget spot trading and derivatives trading in the United States.
It was reported that in the first half of 2020 Bitget’s average daily trading volume was $1 billion., which made it one of the largest exchanges in the world by this indicator at that time. At that time it had more than 800,000 users.
In March 2020, following a change in regional policy, the exchange received permission to temporarily operate without a license in Singapore. In December 2021, the Monetary Authority of Singapore (MAS) suspended Bitget due to a dispute over the token, which was labeled as a scam.
Over the years, the company has signed several cooperation agreements with sports teams. The first partnership was with Italian team Juventus in 2021, followed by an agreement with Turkish football club Galatasaray the following year.
In April 2022, it was announced that the Bitget cryptocurrency exchange would be available in India. In September of the same year, the platform became the third largest derivatives exchange in the world.
According to reports, by 2022 the user base consisted of over 2 million registered accounts. According to representatives, Bitget’s volume increased tenfold year over year from 1H2021 to 1H2022, with daily volume peaking at nearly $8.7 billion.
Sandra Lu is the CEO of the cryptocurrency exchange Bitget. Before moving into crypto, she worked in operations management and growth in traditional finance for nearly a decade. In 2018, she became the CEO of BitZ, and a few months later moved to the Bitget project.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
