Bitget is a leading crypto exchange offering futures, margins, copy trading and more for 20 million+ users. Bitget has emerged as one of the breakout stars in the exchange space recently. Let’s closely examine its capabilities to see if it deserves your trust and assets.
Our in-depth Bitget review will assess crucial aspects like:
- The platform’s asset coverage and order flexibility
- Margin trading support and derivative volumes
- Innovative offerings such as copy trading
- Security provisions and compliance assurances
- User experience across website and mobile apps
- Customer service responsiveness and more
Recent Developments
Besides the Lionel Messi deal, Bitget plans to invest $10 million over 5 years in its Blockchain4Youth CSR initiative. It focuses on educational outreach about blockchain through Bitget Academy courses and university collaborations.
BitGet Review: Pros and Cons
| Pros | Cons |
| 500+ crypto assets and 700+ trading pairs | Service restrictions in the USA, Canada, Hong Kong etc. |
| Copy trading, bots, and innovative offerings like Launchpool | High futures fees compared to competitors |
| $410 million Protection Fund and insurance | |
| Multilingual platform in 10+ languages | |
| High derivatives trading volume and growth |
Bitget Fees
While Bitget offers low spot fees at 0.1%, its futures fees are slightly higher than rivals. Makers pay 0.02% and takers 0.06% per futures trade. There are no deposit fees, while withdrawal charges vary by token. Using BGB tokens gives a 20% spot fee discount.
Bitget Security
The exchange implements robust measures like cold storage wallets, mandatory KYC, frequent proof of reserves reporting, and collaboration with firms like Space and Time for credible audits. It also has top-notch SSL encryption and partnerships with security leaders like Cloudflare.
Bitget Verification Process
The platform has strict KYC requirements including ID card and facial recognition for all users. While this lengthens the registration process, it enhances trust by deterring fake accounts and fraud. Verification times are typically under 24 hours.
Bitget Customer Service
Besides email and in-app support, Bitget offers 24/7 multilingual customer assistance via live chat. It also provides an automated BGBOT for instant resolutions of common queries. For self-help, Bitget shares video guides and extensive FAQs on its site.
Bitget User Experience
The exchange interfaces offer a clean, minimalist UI design focused on simplicity for both pro and newbie traders. Allowing demo accounts to practice risk-free further boosts onboarding. Bitget also provides market updates, event alerts, plus guidance on technical and fundamental analysis.
Available Tokens on Bitget
The exchange facilitates spot trading in 600+ coins including Bitcoin, Ethereum, stablecoins, altcoins, DeFi tokens and its native BGB. It offers 130+ futures contracts with flexible margin options using USDT or USDC collateral. Margin levels range from 1x to 125x.
Regulatory Compliance
Bitget rose in credibility by obtaining registration as a licensed Virtual Asset Service Provider in Lithuania and Poland aligned to EU regulations. However, it remains unavailable in strictly regulated markets like the USA, Singapore, Hong Kong and mainland China.
Liquidity and Volume
Bitget saw massive growth amid the crypto bear market in 2022, with total derivatives trading volume rising 300%+ from the previous year. Its market share also doubled to over 6%. The success indicates the large liquidity pools and volume capacity the exchange offers.
Earnings Products
Users can optimize yields through locked staking, liquidity mining, interest accounts and other offerings via Bitget Earn. The average annualized returns range from 2% to 15% based on factors like lock periods. The principal is secure.
App and Web Experience
Bitget Web Platform
The exchange website enables fast order execution for spot, futures and margins trades. It also offers at-a-glance portfolio monitoring, real-time market tracking, news alerts, strategy sharing and more.
Bitget Mobile App
Similarly, the iOS and Android apps offer an intuitive experience. Easy deposits and withdrawals, detailed charts, order flexibility, and custom price alerts add convenience alongside security features like 2FA authentication and biometrics login.
Final Verdict
Backed by surging growth, innovative offerings and sound security, Bitget is a reliable centralized exchange suited for active derivative traders globally, except in restricted jurisdictions.
Bitget Alternatives
| Platform | Pros | Cons |
| Binance | Huge asset and fiat support | Complex interface |
| Coinbase | Beginner friendly, insured custody | High trading fees |
| KuCoin | Hundreds of altcoins | Low liquidity for larger trades |
FAQs
How reliable is Bitget?
With robust security audits, insurance protection, compliance efforts and tremendous growth despite bearish conditions, Bitget proves itself as a highly reliable exchange.
Which country owns Bitget?
While founded in 2018, Bitget does not provide specifics on its origins or owners. It avoids Chinese oversight by blocking users from mainland China.
Is KYC mandatory on Bitget?
Yes, identity verification using KYC is obligatory for all Bitget members to boost platform security and prevent potential abuse.
Which is better – Bitget or Binance?
For margin and futures trading, Bitget matches or outperforms Binance in aspects like derivative volume, copy trading capabilities and onboarding ease. But Binance has far greater liquidity depth for mega-scale spot traders.
