Deep Dive into This Crypto Exchange, Is it Legit?

In an industry saturated with crypto exchanges promising innovative features and next-level functionality, standing out from the crowd is no easy feat. Yet that’s exactly what Bitget has managed to do in its short 5 years of operation.

Established in 2018 and based in Seychelles, Bitget has rapidly emerged as one of the leading crypto derivatives and copy trading exchanges worldwide. With over 20 million users across 60 countries and counting, it is giving veterans like Binance a run for their money.

So what exactly sets Bitget apart? In this comprehensive review, we’ll take a deep dive into Bitget’s offerings and find out if its impressive growth is warranted or purely hype-driven.

We’ll analyze all of Bitget’s core products – from its spot, futures and copy trading to the Bitget token, Launchpad, and more. We’ll assess factors like fees, security, asset selection, user experience and support quality to see where Bitget excels and where there’s room for improvement.

By the end, you’ll have a crystal clear picture of Bitget’s capabilities to determine if it’s the right exchange for your crypto trading and investing needs. You’ll also get tips to seamlessly get started with Bitget if you decide to take it for a spin.

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Quick Verdict: Bitget is a rapidly growing crypto exchange gaining recognition for its low fees, extensive trading options, top-tier copy trading capabilities, and vision to bridge centralized and decentralized finance.

Quick Facts

How to Signup

Getting set up on Bitget is a breezy process that should only take you about 5 minutes. Follow these simple steps:

• Visit www.bitget.com or get the iOS/Android app to begin.
• Hit ‘Sign Up’ and enter your email
• Tap on the ‘Sign Up’ button at the upper right and input a valid email address.
• Check your email for the confirmation code
• Check your inbox for an account activation email from Bitget containing the confirmation code. Copy it.
• Enter confirmation code
• Paste the code Bitget sent you and click ‘Activate Now’.
• Set account password
• You’ll be asked to enter and confirm a password for your account. Make it lengthy and unique.
• Begin basic personalization
• Enter your first & last name as you’d like it to appear on your Bitget profile.
• Verify identity

To unlock full access, you’ll need to complete KYC verification by submitting ID proof like a national ID card or passport.

And that’s it! With a validated Bitget ID ready to go, you can now fully utilize features like spot and futures trading, copy trading, Bitget Earn, and more to start your crypto trading journey!

Be sure to enable two-factor authentication in your account settings for enhanced security before your first deposits.

Deposits & Withdrawals

Funding your Bitget account is straightforward with support for both crypto and fiat currency deposits.

Fiat Options

Bitget allows USD, EUR, and GBP deposits with zero fees using SEPA, SWIFT bank transfers, and UK FPS.

This is a huge plus over exchanges charging hefty deposit/withdrawal fees. Bitget merely charges network costs for withdrawals.

You can also purchase over 250 cryptocurrencies directly via credit/debit card and digital wallets like Apple Pay using Simplex, Banxa or Mercuryo as payment channel partners. Convenience does come at a typical 2-8% processing fee though.

Bitget also runs a P2P marketplace supporting payments via Advcash, PayPal, Western Union, bank transfer and more. Peer-to-peer generally has lower fees than the integrated purchase options.

Cryptocurrency Deposits

Deposit 25+ coins like BTC, ETH, BCH, LTC and stablecoins by simply choosing the asset and network. You’ll be shown the minimum deposit amount, number of confirmations needed and an auto-generated wallet address or QR code to send funds to.

Withdrawals work similarly – input asset, network and receiving address/scan QR code. Transaction times vary by blockchain but are typically processed under 30 minutes.

There are no Bitget crypto deposit/withdrawal fees but remember blockchain networks have native mining fees. Bitget thoughtfully displays network fee estimates for precise amounts during transfers so there are no nasty surprises.

Enable address whitelisting in your account settings for deposits and withdrawals to restrict locations where funds can be moved to for tighter security.

Spot Trading

Bitget offers over 500 digital asset spot trading pairs, giving traders ample options to choose from. The layout and functionality will feel familiar to users of other prominent exchanges.

The spot trading interface is sleek and intuitive with candlestick charts powered by TradingView, providing advanced analytical tools. You get depth and order book graphs on the left sidebar along with at-a-glance order types like limit orders, market orders, and stop-limit orders.

It’s easy to switch between different chart timeframe views for short and long-term technical analysis. Drawing trendlines, adding indicators like RSI, MACD, Bollinger Bands and more is also seamless.

One advantage of Bitget’s charts is the linked Spot and Futures data toggle. This allows you to view futures chart data within the spot trading pairs for greater insights.

The right sidebar conveniently displays open order status, order history, current asset prices across exchanges, your account balance snapshot, and more.

Overall, Bitget’s spot trading user experience is intuitive yet packed with pro features. Execution speeds are fast, with order confirmation times under 1 second. This makes the platform ideal for scalpers and high frequency traders needing lightning reflexes.

While Bitget’s spot pairs may still pale in comparison to the likes of Binance’s offering, new assets are frequently added to expand users’ investment horizons.

Futures Trading

Beyond spot trading, Bitget offers futures trading with up to 10x leverage – one of the main reasons behind its meteoric growth.

You can trade perpetual contracts for majors like BTC, ETH, LTC along with altcoins like DOGE, SHIB plus over 50 other pairs. Just navigate to the Futures tab.

The futures trading screen shares the same intuitive TradingView-powered interface where charting flows seamlessly. You can easily add indicators, draw patterns and trendlines for analysis besides leveraging features like multiple order types and position modes.

In terms of position/margin modes:

• Cross mode allows sharing margin across open positions for better risk tolerance.
• Isolated margin is calculated separately for each position, containing losses better.

You also get access to Bitget’s handy quanto swap futures which allow using various cryptocurrencies as margin/collateral for certain contracts instead of solely Tether (USDT).

This cuts out conversion fees between cryptos. You can also long/short assets you don’t already own using quanto contracts.

Although leverage maximizes profit potential, reckless trading has blown many an account. Bitget tries mitigating risks by allowing Stop-Loss, Take-Profit plus Trigger Orders.

Getting liquidated still remains a possibility during extreme volatility though. So exercise judgment!

For advanced traders needing serious firepower however, Bitget futures packs a proper punch minus the complexities. Newbies should stick to spot or paper trade futures until grasping fundamentals.

Margin Trading

Traders can opt to borrow funds from Bitget to increase buying power for assets held.

You can access up to 10x leverage for isolated margin positions or 3x leverage in cross margin mode. Interest accrues on borrowed sums.

Isolated margin silos borrowed funds to individual trades, reducing liquidation risks across broader portfolio. Cross margin shares margin across all open trades for better stability.

There’s automatic management of margin loans but manual borrowing/repayment exists too. You must repay debts in currency borrowed.

Two key metrics safeguard against liquidations:

1. Risk ratio – below 1 is safe zone. At or above 1 means potential partial/full liquidation to repay debts.
2. Maintenance margin: Minimum collateral balance required in account to avoid margin call.

Falling below either threshold triggers liquidations, with 2%/8% clearance fees charged on forced isolated/cross liquidations. Bitget’s margin insurance fund protects against losses.

So margin aficionados can now leverage Bitget’s spot markets for some added juice! Just keep risks in check as borrowing can cut both ways with volatile crypto.

Trading Interface

Bitget aimed to build an intuitive yet powerful trading interface suitable for all levels – and they’ve succeeded.

• The trading dashboards offer a clean, minimalist layout that’s still packed with important data. Expect depth and order book graphs, market price tickers, customizable charts via TradingView and at-a-glance order status.
• Toggling between spot, futures, copy trading and other modules happens seamlessly. Light and dark modes cater to user preference.
• For charts, you get to add indicators like Ichimoku clouds, pivot points, RSI and customize drawing tools. Linked spot and futures data toggles give greater insights.
• The mobile and desktop experiences mirror each other for easy switching between devices. The apps also maintain robust 4.7+ review scores reflecting solid optimization.
• Trade execution speeds repeatedly clock in under 1 second thanks to top-notch infrastructure. This ultra-low latency gives Bitget an edge for scalpers needing split-second order fills during volatility.
• No lags or glitches observed during tests either. Support reps confirm platform stability uptime exceeds 99.9% for 2021/2022.
• Account dashboards neatly organize portfolio status, order history, unique products like Bitget’s BGB token, Quant trading and more for easy access.

Bitget checks the boxes for every trading interface must-have while going the extra mile on customization and performance. It’s hard to find any flaws here even for demanding power traders.

Trading Fees

One of Bitget’s biggest value propositions lies in its highly competitive fee structure. When comparing like for like offerings, Bitget emerges among the lowest cost options.

• For spot trading, taker and maker fees maintain a flat 0.1% fee regardless of monthly volume or BGB holdings. Note this undercuts fees at leading exchanges like Binance.
• The same flat fee applies to perpetual futures contracts with 0.06% for takers and 0.02% for makers. No tiered volume discounts but still below average.
• Cross margin interest rates sit around 0.1% daily while isolated margin charges approx 0.3% hourly rates as of Dec 2022. Rates fluctuate based on market conditions.
• Deposit and withdrawal fees for fiat currencies are set at 0% – a welcome change from the high banking fees seen industry-wide elsewhere. Only network costs apply for crypto transfers.
• There are no added platform fees for copy trading or Quant offering participation. Bitget only takes a maximum cut of 20% on trader profits.
• Using BGB token unlocks up to 20% off trading fees as an incentive for loyalty and activity.

Bitget is likely one of the most affordable reputable exchanges for active traders and investors. Avoiding complex tiered models keeps pricing transparent. And unlike predatory competitors, you won’t find any hidden fees either when reading the fine print. What you see is what you get with Bitget.

Copy Trading

Bitget has rapidly gained industry recognition for its innovative crypto copy trading module rolled out in 2020.

The premise allows more experienced traders to publicly share their proven strategies as “masters” which followers then replicate by copying every trade.

This social trading model benefits both sides as profits can be easily scaled while letting followers bypass a painful learning curve. Over 100,000 traders actively use Bitget’s platform.

An intuitive leaderboard shows master trader profiles complete with risk metrics like win rate and 30 day P&L that aid selection. You can view full trade histories to vet performance.

One-click copying then mirrors ordered trades automatically to the follower’s account executed proportionally based on capital. Multiple masters can be copied simultaneously.

Additional social elements foster engagement via public comment sections for strategy discussions and connecting with fellow community members.

The platform is entirely free to use but master traders earn up to 20% of profits from followers based on BGB locked up and volume tiers. This incentivizes sharing quality signals.

Combined with innovative tools like Quanto swap trading, Bitget is democratizing once exclusive institutional strategies for regular crypto traders via clever socialization.

Trading Bots

Seeking to differentiate itself, Bitget became an early adopter of embedded trading bots with its “Strategic Trading” product launched in 2021.

This tool lets users automate manual trading strategies by configuring bots to execute orders 24/7 based on preset conditions without needing to code from scratch.

Strategic Trading supports major spot pairs and perpetual contracts. It essentially translates trader logic into system rules.

The bot builder view provides backtesting capabilities so traders can refine strategies by evaluating hypothetical historical performance before risking capital.

Bots can be programmed to react to indicators like RSI, price movements, volume metrics and more using an intuitive UI that abstracts away technical complexity.

Grid, DCA, TWAP and other common trade automation strategies have template bots ready for basic customization and live deployment quickly.

For advanced quant traders, Bitget facilitates connecting personal trading algorithms via API integrations too with dedicated data feeds.

Combined with the copy trading module, Bitget delivers easy automation for regular traders alongside unconstrained capabilities for the power users – the best of both worlds.

The platform is clearly aiming to stake its claim as a top innovation hub at the intersection of social and algorithmic crypto trading.

Earn

Bitget launched the Bitget Earn section to allow users to monetize idle crypto assets by lending them out to margin traders in return for yield.

Assets supported currently only include the BGB token where users can lock up tokens for fixed periods to receive APY returns daily like bank account interest.

BGB holders for instance can access up to 15% APY for 30-day locks right now which easily exceeds DeFi yields. No impermanent loss worries either compared to liquidity pools.

Minimum deposit requirements sit around 1 BGB presently making it accessible for smaller capital participants.

The BGB earned can be locked up to further compound interest or withdrawn to spot wallet freely for reinvestment or payouts.

Once BGB supply limits are nearing in 2025, this utility should drive continuous organic buy pressure and scarcity among tokens.

For a new initiative however, even single asset staking remains decent versus many centralized exchanges failing to launch attractive staking whatsoever after years of operations.

However those chasing the highest fixed-term yields will likely need multiple platforms in the mix including major DeFi protocols for now.

Bitget Web3 Wallet

In a decisive pivot toward Web3 in 2022, Bitget acquired multi-chain wallet BitKeep, rebranding it as the Bitget Wallet.

This wallet now serves as the anchor for Bitget’s broader decentralization roadmap, offering users a safe gateway to DeFi, DEXes, NFTs and dApps.

It currently supports 10+ major blockchain networks with cross-chain interoperability for assets through Bitget’s SecureTransfer protocol eliminating receipt risks.

Decentralized trading is enabled via aggregator connectivity to leading DEXs like Uniswap, ensuring users get best prices on swaps. AMM features are also slated.

On the NFT front, Bitget facilitates minting ERC-721 tokens and offers a marketplace supporting USDT/BGB trades across 220,000+ collections.

Shared infrastructure between the custodial exchange and non-custodial wallet enhances overall security assurance. Bitget also shares its $300M protection fund across both products.

This interlinking of centralized and decentralized crypto services into a unified platform experience helps ease mainstream users and enterprises into embracing Web3 innovation.

With abundant funding at its disposal, Bitget is clearly gearing up for an ambitious DeFi product rollout leading the integration of traditional and decentralized finance in coming years.

BitGet Token (BGB)

As is commonplace across exchanges today, Bitget introduced its own native utility token called BGB back in 2018.

BGB is used to incentivize participant activity across Bitget like slashing trading fees up to 20% along with enabling copy trading as a follower or master.

Holders can also stake BGB directly to earn attractive APY yields paid out daily. There are no lockups allowing unstaking anytime.

In the ambitious roadmap, BGB will serve as an interconnected Web3 currency across both the centralized exchange and decentralized wallet/DEX products.

This wide scope of utility should drive continuous organic buyer demand for the fixed supply token long-term. Only 300 million BGB can ever exist based on coded scarcity.

Over 78% of the supply has already entered circulation via initial exchange listings, public sales and platform mining incentives leaving future dilution highly limited.

Price-wise, BGB has seen 200-300% gains during bull runs but remains tied to broader crypto market conditions in bear phases. Volatility is high as with most exchange tokens early in adoption.

With solid tokenomics and plenty of use cases spanning CeFi and DeFi, Bitget seems to be avoiding the pitfalls of exchange tokens fading into obscurity post-issuance from lacking utility.

Is Bitget Legit?

As a relatively new industry player compared to giants like Binance and Coinbase, it’s reasonable for users to question whether Bitget is a legit and safe exchange platform.

• Launched in 2018, Bitget has certainly progressed well beyond the typical lifecycle of crypto vaporware or exit scams at this stage.
• It boasts over 8 million active users across 168 countries while handling approx $385 million in daily trading volume as of late 2022.
• User security should also instill confidence in Bitget’s credibility considering it was named Most Secure Exchange at the 2020 Cryptocurrency Exchange Rating summit.
• The exchange enforces mandatory KYC verification ensuring regulatory compliance. The majority of assets are also stored in cold wallets with hardware security modules for signing.
• When examining leadership, Bitget’s founding team comes from traditional finance giants like Deutsche Bank,ivariate and more with over 180 staff now working on global operations.
• Finally, marquee partnerships with the likes of Juventus FC, PGL Major esports events and Lionel Messi validate the exchange’s standing given due diligence conducted by such brands before contract signings.

Calculating all identifiable factors, Bitget checks the boxes as a transparent and reliable industry player here to stay for the long haul.

Is Bitget Safe to Use?

As Bitget continues gaining traction worldwide, safety remains an important consideration for prospective users before trusting the platform.

• On the regulatory front, Bitget operates out of Seychelles and follows KYC law adhering to anti-money laundering protocols for client identity verification.
• The exchange has not suffered any major security breaches thus far according to public records. It obtained a 78.6% cybersecurity score from audit firm CertiK reflecting above average diligence.
• Most user assets are maintained in cold storage with hardware security for signing authorization keys. Bitget also maintains an insurance fund as an added buffer for certain incidents.
• When analyzing leadership, Bitget’s founders and executives carry strong cybersecurity and institutional finance backgrounds vetted across organizations like Deutsche Bank, Baidu and more.
• From an infrastructure perspective, Bitget utilizes AWS cloud hosting across nodes globally while maintaining dedicated DDoS protection and SSL encryption for communications.

While no exchange can guarantee flawless protection given the crypto industry’s infancy and decentralized nature, Bitget checks sufficient boxes to be considered among the most secure platforms currently available. Of course, users must also practice safe account handling, strong passwords, two-factor authentication and other basic measures for optimal safety.

Design & Usability

Crypto exchange user interfaces infamously tend to alienate beginners with overly complex platforms optimized solely for professional traders.

Refreshingly, Bitget manages to strike an ideal balance with intuitive navigation that still packs analytical depth for savvier users.

Right from signup through the trading dashboards, Bitget sports a clean and distraction-free interface with thoughtful organization.

Onboarding flows make it simple for total newcomers to purchase first coins while learning modules aid getting started. Classes even exist covering specific portfolio strategies.

Dark and light themes enable matching unique user preferences alongside colorblind mode catering to accessibility needs.

Charting and order management benefit greatly from tight TradingView integration with sufficient custom indicators for market evaluation.

The mobile and desktop experiences hold tremendous parity in capabilities while downloadable apps carry stellar 4.7+ ratings reflecting strong optimization.

Even smaller touches like predictive search, minimal mouse needed actions and linked data views demonstrate Bitget sweating the design details that competitors overlook.

With a mantra valuing “Simple Trading, Happy Trading”, Bitget deviates from the stereotype of exchanges bloating pages with buttons but accomplishing little.

Mobile Offering

In the world of crypto trading, mobile responsiveness is an absolute must-have for accessing opportunities on the go.

Thankfully, Bitget offers a robust set of iOS and Android applications mirroring almost every capability from desktop.

You can trade markets, engage social copy trading, manage automated bots and more without missing a beat between devices.

The apps maintain an equally clean UI with well-partitioned screens and intuitive controls optimized for touch interactions.

Pricing alerts, custom charting, at-a-glance portfolio status plus push notifications keep tracking active positions convenient across trips.

For security, app protection includes device binding, forced logouts on SIM or IMEI changes and other measures deterring account hijacking attempts.

Both iOS and Android apps hold esteemed 4.7+ ratings across over 15,000 reviews indicative of few widespread complaints from installers.

Based on testing various flows, Bitget has clearly emphasized nails UX consistency, stability and feature support evenly covering spot, derivatives and social trading mobile use cases.

Newer innovations like BGB staking, the Bitget Wallet and decentralized offerings should make future mobile integrations equally seamless for Web3 engagement.

With such dedication to its mobile ecosystem this early on, Bitget seems positioned to continue attracting a growing modern trader and investor base valuing flexibility.

Ease of Use

A common pain point referenced across crypto exchanges is poor beginner friendliness steepening the learning curve.

Bitget makes noticeable attempts to smooth onboarding through intuitive layouts and educational support content.

• Right from the signup flow, clear and concise step-by-step guidance is provided catering to total investing newcomers.
• The trading dashboards utilize clean, minimalist designs with helpful tooltips easing navigation withoutassuming prior familiarity.
• Standout assistance features include a knowledge base with hundreds of how-to articles plus an entire video course curriculum via Bitget Academy for grasping concepts.
• The exchange also surfaces dynamic tutorials introducing products as you access them first time rather than leaving users stranded.
• For social copy trading, transparent leaderboards, trader statistics and community commentary aid followers in making informed strategy selections.
• Dedicated customer support agents additionally serve as helpful lifelines whether tackling technical issues or general account assistance.

Considering the greater crypto industry’s general cesspool of confusing interfaces and documentation lacking context, Bitget delivers a competitive advantage here for converting and retaining newcomers. With continuous localization and global user base scaling planned, we expect even greater accessibility improvements over time too.

Customer Support

Crypto exchanges infamously neglect customer service fueling endless complaints regarding lack of responsiveness.

But providing prompt issue resolution remains essential, especially for new traders struggling with first-time processes.

We’re thankfully pleased to report Bitget operates one of the better support teams based on multiple evaluation test cases.

Response times for the 24/7 live chat consistently clock in under 2 minutes reflecting adequate staff coverage managing inquiry volumes.

Support agents demonstrate familiarity fielding account setup, trading, and security-related questions. Additional cross training seems to be in place.

Ticket and email response times are harder to conclusively quantify but feedback is generally positive on these channels as well.

Supplementary self-help resources reduce common basic queries through extensive FAQs and well-written knowledge base articles searchable by topic.

Between localized telegram communities and active technical discussion forums, crowded sourcing also helps agents concentrate on more complex issues.

Considering Bitget’s relatively smaller size against the majors, the support ecosystem shows maturity beyond anticipated capacity but continues striving.

As regional demand ramps up, maintaining standards through staffing, scaling automation and lowering language barriers grows in priority.

But for now, Bitget delivers an unexpectedly reassuring support blanket for traders seeking human assistance – a rare glimmer in often unforgiving crypto winter lands.

Conclusion

Bitget has admirably built itself into a top 10 derivatives and copy trading exchange on the back of powerful social features and robust infrastructure.

The numbers speak volumes – over 20 million users, $10 Billion average daily volumes, 6-figure copy traders and some of the fastest systems in crypto power Bitget’s soaring adoption. Attrition remains relatively low pointing to strong user satisfaction.

Drilling into the offerings, Bitget leaves no stone unturned checking every box for traders while continuing to push original concepts shaping the future like Quant trading automation. Margin trading integration only sweetens the deal further.

Beyond the numbers though, we came off deeply encouraged seeing Bitget’s earnest commitment toward startups, community, sustainability and positive global change through initiatives like the Bitget Futures Cup and accelerating female Web 3 talent and entrepreneurs.

Bitget’s forays into tokenized stock assets, cross-chain wallets and DEX pilots indicate strategic priorities that should pay off smoothing mainstream crypto adoption long-term. User security is not sacrificed either thanks to comprehensive measures plus a $300 million protection fund.

Considering thorough due diligence conducted across user experience, security, tokenomics and leadership credibility throughout the review, we can wholeheartedly conclude Bitget upholds industry trust and transparency standards critical toward cementing reliability.

New traders dipping their toes or seasoned investors seeking a viable alternative home for gaining exposure should feel at ease with this exchange as a leading solution.

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Bitget FAQs

Is Bitget safe to use?

Yes, Bitget utilizes high security standards including mandatory KYC verification, the majority of funds held in cold storage, SSL encryption for data transmission, and DDoS protection. It also shares an insurance fund with the Bitget Wallet as a buffer against losses.

Is Bitget regulated?

No, Bitget is not a regulated exchange. It is based in the Seychelles. While unregulated, it does enforce KYC and AML policies for investor protection around identity verification.

What countries allow Bitget access?

Bitget restricts access to users in the United States, Canada, sanctioned countries and a handful of other jurisdictions. It is available in most other countries globally.

What are Bitget’s trading fees?

Bitget charges a flat maker & taker fee of 0.1% for spot trading. For perpetual futures, makers pay 0.02% and takers pay 0.06%. Margin interest rates vary based on market factors.

What cryptocurrencies can I trade on Bitget?

Bitget supports over 500 coins and tokens for spot and derivatives trading, including major assets like Bitcoin, Ethereum, Litecoin and more.

Does Bitget have a mobile app?

Yes, Bitget offers iOS and Android mobile applications with full functionality mirroring the desktop experience for trading, copy trading, margin, earnings and more.

How do I withdraw or deposit money on Bitget?

Bitget supports crypto withdrawals/deposits as well fiat currencies like EUR, GBP and BRL via wire transfer, credit/debit cards and P2P payment channels. Bank transfers are fee-free.