Bitget is one of the largest cryptocurrency exchanges that has seen tremendous growth over the past year. After a string of black swan events over the past year, Bitget not only showed no signs of decline, but also emerged stronger, showing tremendous growth in futures trading volume and market share.

General information

Founded in 2018, Bitget is a globally renowned cryptocurrency exchange, serving over 20 million users across more than 100 countries.

Moreover, Bitget has partnered with big figures like football icon Lionel Messi. In October 10, Bitget and Messi signed a two-year partnership, giving the Messi fan community a gateway to Web2022 and crypto trading opportunities on the exchange.

Name	Bitget
Founded year	2011
Headquarters location	Singapore
Official website	https://bitget.com
Contacting methods	– Live Chat – Email support@bitget.com
Trading products	Cryptocurrencies
Fiat currencies	USD, EUR, JPY, KRW, VND, THB and more than 50 others
Mobile apps	Android, iOS
Fees	Spot trading: 0.1% of makers/recipients Futures trading: 0.02% of makers and 0.06% of recipients

Sign up for a Bitget account here

Since 2021, Bitget has also been the exclusive crypto partner for PGL, supporting major esports events such as PGL DOTA 2 Major Arlington 2022 and PGL Major Stockholm 2021.

Bitget maintains strong performance through 2023. Q2 highlights of TokenInsight Crypto CEX 2023 show Bitget's continued market dominance, holding the top 4 position in terms of trading volume and increasing its market share to 8.1%.

In Q1 2023, the total trading volume of the top 15 exchanges reached $10.8 trillion, with Bitget accounting for 6.65% of the market share. Notably, Bitget's spot market share has impressively doubled from 2% to 6% by the end of Q2 of this year.

According to CCdata's report, in August this year, the platform recorded the highest growth in derivatives market share in the entire industry.

At the time of writing, Bitget is the 6th largest derivatives trading platform on CoinMarketCap.

Pros and cons

Pros	Cons
• More than 600 crypto tokens and 700 trading pairs available. • Innovative features such as copy trading and trading bots. • Robust security measures, including a $410 million Protection Fund. • User-friendly interface with multilingual support for global users. • Wide range of trading options, including USDT/USDC-margined futures.	• Restricted in some countries, including the United States and Canada

Tradable cryptocurrencies

Bitget offers spot exchanges for various mainstream cryptocurrencies, supporting over 600 crypto tokens and nearly 700 trading pairs. This includes major players such as USDT, USDC, BTC, ETH, and Bitget token, BGB.

In May 5, 2019, Bitget introduced USDT-margined futures, a user-friendly option for beginners in futures trading. Unlike coin-margined futures, it does not require holding the underlying currency to take long or short positions.

Further expanding its offerings, Bitget became the first exchange to launch USDC-margined futures contracts in July 7 through a partnership with Circle.

Bitget supports multiple futures options, including USDT-margined, USDC-margined, and Coin-margined futures, over 130 trading pairs.

In 2023, the platform's native token, BGB, emerges as the best-performing exchange token, outperforming major cryptocurrencies like Bitcoin. The BGB token is up more than 220% in 2023 and reaching 6 all-time highs in 2023, with the latest price being $0.58 on November 16.

Fees

Deposit fees

Bitget does not impose any fees on cryptocurrency deposits. However, you may still face network fees from the blockchain that you are sending or payment service provider fees.

Payment methods

Bitget exchange supports multiple payment methods for fiat currencies depending on your country, such as:

• VISA and Mastercard
• Apple Pay
• Google Pay
• Mercuryo
• Xanpool
• Banxa

Spot transaction fees

For each spot transaction, Bitget charges a standard fee of 0.1% for both Makers and Takers.

• BGB discounts: Users can get a 20% discount on spot transaction fees if they pay with BGB, Bitget's native token. If you have BGB in your account, it will automatically be used to cover transaction fees. If your BGB balance is insufficient, the full fee will be charged to the original payment method.
• Activate BGB Discount: Go to 'Assets' and click on the 'BGB fee discount' box under the 'Spot Account' tab to activate this discount.

Withdrawal fees

Bitget's withdrawal fees are not fixed but vary based on market conditions. You can check the latest withdrawal fees on the Fees page. The withdrawal fee depends on the crypto asset and the amount you want to withdraw. For example, the withdrawal fee for BTC (Bitcoin network) is 0.0003 BTC, while the withdrawal fee for Ethereum (ERC20 network) is 0.00034 ETH.

Futures fees

For futures markets, Bitget charges different fees for makers and takers. Makers pay a fee of 0.02% and performers must pay a fee of 0.06% on each futures trade. Futures fees are taken from your margin balance when you open or close a position.

Here's how Bitget calculates futures trading fees:

• Formula: Trading fee = Order value x Fee
• Order value: Number of contracts x Price per contract

Features

Copy Trading

Bitget is known for being the first cryptocurrency exchange to introduce copy trading in May 5. The service is currently available on a variety of markets, including spot and futures trading.

In essence, Bitget has a system in which less experienced traders (followers) can mirror the trading strategy and positions of more experienced traders (elite traders).

Elite traders benefit from sharing their strategies, often through the reward system, recognition, and other incentives the platform offers.

There are more than 130,000 elite traders whose strategies can be copied. According to the Bitget website, more than 650,000 active users follow elite traders, and these followers have collectively made over $430 million in profit.

Users can start copying trades by choosing an elite trader to follow, with this process being fast and user-friendly.

They can earn higher profits by following market-proven strategies from elite traders. Users can gain insights and knowledge from experienced traders.

Types of copy trading in Bitget:

• Copy Trading Futures Contracts: Users can copy futures orders of elite traders, which is ideal for those who are interested in the futures market.
• Elite spot trading: This option allows users to copy trades of elite traders in the spot market.
• Bot copy trading: Users can sign up to hire a strategist or purchase a trading bot, automating their trading process based on expert strategies.
• Access details: Connect with trading experts for the latest updates and market trends.

Newcomers to trading can start with Spot Copy Trading or Futures, leveraging the expertise of experienced traders in volatile markets.

On the other hand, buying a bot or signing up for a strategy house can be ideal for users who are looking for an automated trading solution.

Seasoned traders can earn by becoming an elite trader on Bitget, sharing their strategies, and managing subscriptions.

Elite traders can earn up to 10% profit share, receive rewards, and be recognized as a 'Star Trader'. Strategists can monetize monthly subscriptions and can gain global recognition.

Furthermore, Insights Creators can have the opportunity to share their achievements and insights, scaling their presence and profitability in the copied trading community.

Bitget Earn

Bitget Earn is a comprehensive asset management platform under Bitget, designed to provide high-quality financial products with high yields and security.

The platform is built to meet a variety of investment needs and preferences.

Products offered:

• Flexible savings: Earn daily interest on cryptocurrency deposits; Money can be redeemed at any time.
• Shark Fin & Dual Investment: Other products have different risk and reward configurations.
• Futures products: There are plans to introduce more options for users' diverse preferences.

Simply put, users can choose products based on their risk tolerance, subscribing to products, earning interest, and exchanging their earnings.

Money is deducted from the spot account upon registration, and interest is paid daily after a two-day processing period.

Interest calculation: Estimated daily profit = (subscription amount × estimated APR) ÷ 365.

Staking on Bitget, on the other hand, involves earning through mining guaranteed in principal, with various cryptocurrencies available to bet.

• Daily interest is credited, starting from one day after the deposit and paid the next day.
• The betting and redemption process is flexible and free.
• The entire chain earnings without Bitget taking a cut.
• Income is protected by low-risk, principal-protected money; There is no setup risk or on-chain staking as cuts.

Cryptocurrencies available for staking: Includes ETH, MATIC, DOT, ADA, SOL, AVAX, APT, TONCOIN, IOTX, TIA, SUI, SEI, ATOM, LUNC, INJ, KAVA, ROSE, CANTO and others. The platform offers competitive APRs for each platform.

Launchpool & Launchpad

Bitget's launchpool is only accessible to BGB holders who have completed KYC verification, although it is important to note that users from certain countries face restrictions.

The platform offers an attractive feature where rewards are calculated hourly and users can conveniently track these rewards directly in their accounts.

The significant advantage of this system is its versatility; Staked assets are not locked and can be withdrawn at any time, providing users with greater control over their investment.

Additionally, Bitget recently introduced specific pools specifically designed for beginner investors, along with a reward system for existing users who have successfully invited new participants.

This has significantly improved the average rate of return for users, making it an attractive option for those who want to maximize their earnings.

Furthermore, Bitget has a Launchpad for users to stake and raise popular or newly listed tokens, offering the opportunity to invest in early-stage crypto projects.

Bitget Trading Bot: Automated Crypto Trading Tools

Bitget trading bots offer automated solutions to maximize earnings. Available 24/7, these bots are designed to take advantage of market volatility effectively.

Users have the option of using AI-recommended bots or customizing their own bots. Bitget offers a variety of bots for different trading strategies, including spot and futures variants.

• Grid Bot: Ideal for volatile markets, these bots focus on buying low and selling high.
• Martingale Bots: These bots buy periodically to reduce the underlying cost and sell for a profit when the market reverses.
• CTA Bots: Including MACD for trending markets and BOLL for sideways or swing markets, these bots automatically make profits by following specific market trends.
• Automated investment bot: In line with market conditions, they optimize investment costs through regular, scheduled investments.
• AI Bots: Bitget's AI bots simplify advanced trading strategies by providing smart parameter settings. Users can choose their preferred AI bot and easily create orders without having to manually enter complex parameters. These AI bots are available for both spot and futures trading strategies.

Trading the Bitget bot is free, with trading fees in line with Bitget's standard spot/futures fee structure.

When activating the bot, the investment amount will be segregated from the user's main trading account and managed exclusively by the bot.

User experience

Bitget is multilingual, supporting a variety of languages, including English, Korean, Japanese, Russian, Spanish, Portuguese, Turkish, Vietnamese, French, German, and Chinese. This extensive language support makes the platform accessible and user-friendly for a global audience.

In addition, the platform focuses on user understanding and accessibility by stating FAQs and risk disclosures on most featured pages.

This approach is especially beneficial for beginners, helping them understand and navigate the platform's services with ease.

Bitget recently introduced a new address book feature, which allows users to manage multiple deposit addresses, up to 50, improving transaction convenience and organization.

It was also the first cryptocurrency exchange to support EVM-compatible addresses (Ethereum Virtual Machine). This simplifies the transaction experience by allowing users to use a single EVM-compatible address across multiple blockchains.

As a result, users can transact, transact and store assets using just one address on various chains, which greatly simplifies the process.

Security

Bitget cares a lot about security and privacy. It uses many ways to keep users' data and assets safe. Here are some of its security measures:

• Encryption and hashing: Bitget changes the data to a secret code that requires a key to open. It also generates unique values from any data. Bitget hashes the necessary data, like passwords and keys, and mixes them before saving them on its servers. This way, no one can use or change the data if it is lost or taken away.
• Two-step verification (2SV): Require users to enter a code from the device or app when they log in or withdraw funds. This ensures that no one can get in if they know the password.
• Anti-phishing codes: The exchange allows users to generate anti-phishing codes to send emails from Bitget. This helps users know the real email from it and avoids bad links or files.
• Cold and hot storage: This exchange keeps users' funds in different hot and cold vaults. Most of the funds are in cold storage wallets, which are safer and more complicated to hack. Only some of the funds are kept in hot wallets, which are used for daily transactions.
• SSL Labs certificate: Bitget scored an A+ at SSL Labs, a big name in web security. SSL Labs tests the security of websites and servers based on a variety of factors, such as encryption strength, protocol support, certificate authenticity, and weakness detection.

Bitget is committed to maintaining $350 million worth of emergency insurance reserves for its customers. The exchange platform has committed to growing the fund to a sizable level through a portion of transaction fees to protect users.

Finally, the platform has also received regulatory approvals in the United States (MSB Crypto Exchange License) and Poland (VASP approval). This implies that they have been allowed to operate, even in countries where cryptocurrencies and exchanges are strictly restricted.

Customer support

Bitget integrates leading technologies in its operations. It has an A+ rating from SSL Labs certification and is supported from four major security vendors.

The platform offers 24/7 customer support in various languages, serving a global user base. This multilingual support is important in addressing the needs of users from different regions quickly and efficiently.

Bitget also has BGBOT, an automated chatbot that offers 24/7 support. This tool is especially useful for immediate, automated responses to standard queries.

Users can visit the 'Support' section of Bitget's website for comprehensive FAQs. This section also offers a variety of self-service options, allowing users to manage various aspects of their accounts independently.

Key features of this section include:

• Send tickets: This option is important for solving more complex or specific user queries that require personal attention from the support team.
• Demo version: One particularly noteworthy feature where users can access demo accounts, allows them to practice trading without financial risk.

Is Bitget safe?

In 2022, Bitget established a Protection Fund, worth up to US$410 million as of December 2023, comprising cryptocurrencies such as BTC, ETH, USDC, and USDT.

This fund is designed to protect user assets in adverse situations. Notably, the fund's value has risen to over $400 million by mid-2023, reflecting the recovery in Bitcoin price. The fund's assets are stored in publicly visible wallets, improving transparency and reliability.

• Proof of Reserve and Asset Transparency: Bitget's commitment to transparency is evident in its monthly Proof-of-Reserve (PoR) updates. These reports show that reserve ratios consistently exceed 200%, which is much higher than the industry standard, ensuring that client funds are adequately supported. PoR will be updated monthly, ensuring a 1:1 reserve ratio for customer funds. In addition, Bitget partnered with Space and Time for tamper-proof testing, increasing reliability into their reserve requirements. They also offer an open-source tool, 'Merklevalidator,' for users to independently verify their platform assets.
• Asset storage method: Many of Bitget's digital assets are stored in cold, offline, multi-signature wallets. This method significantly reduces the risk of hacking and unauthorized access, a standard method for enhancing crypto asset security.
• Licensing and regulation: The registration of the platform as a Virtual Asset Service Provider (VASP) in Poland marks an important step in the platform's expansion within the EU. This registration is in line with local and international legal requirements, providing a transparent and law-compliant trading experience. Furthermore, Bitget's registration in Lithuania reflects its commitment to complying with evolving digital asset laws, improving its global presence and credibility.
• KYC procedure: Bitget implements mandatory Know Your Customer (KYC) procedures to enhance security. These include identity and address verification using advanced eKYC technology such as facial recognition. This process prevents fraudulent activities and streamlines user verification, balancing security and user convenience.
• Reporting and transparency efforts: The quarterly transparency report published on their website provides detailed information on the financial position and operational compliance of the exchange. Closely monitored by the public, these reports reinforce user trust by highlighting the platform's commitment to transparent and ethical practices.

Is Bitget a scam?

Bitget is a legitimate and reliable cryptocurrency exchange. If you're into cryptocurrency trading, you can't ignore Bitget. With this cryptocurrency trading platform, you can trade futures, copy other traders, buy and sell spots, and use smart bots to manage your portfolio.

Conclusions

Bitget is one of the largest cryptocurrency exchanges with over 500 cryptocurrency trading pairs, including options such as USDT/USDC-margined futures, and serves a diverse user base, ranging from beginners to experienced traders.

Its rapid growth, especially in bear markets, highlights its resilience amid market volatility. With trading volume increasing by more than 300% in 2022, Bitget has cemented its position globally among the leading derivatives trading platforms.

Furthermore, Bitget's recent announcement of the BGB token airdrop and Bitget Card shows how the platform integrates crypto utility with more real-world applications.

Bitget's combination of innovative features, robust security measures, and regulatory compliance has positioned it as a competitive and reliable platform.

Its focus on user experience and continuous adaptation to market demand shows a promising trajectory for the exchange.