Bitget Exchange Review: Features, Security, Fees and more

As a veteran cryptocurrency trader and investor, I’ve used dozens of exchanges over the years. In this detailed review, I’ll share my experiences and insights on the pros, cons and unique features of the Bitget platform.

Bitget is a popular cryptocurrency exchange that allows users to trade various crypto assets like Bitcoin and Ethereum. This detailed review covers everything you need to know about Bitget exchange to decide if it’s the right trading platform for your needs.

Overview – What is Bitget Exchange?

First, let’s start with some basics. Bitget is a cryptocurrency exchange, founded in 2018 and is based in Singapore.

In just a few short years, Bitget has exploded in popularity to become one of the top 5 cryptocurrency exchanges worldwide in terms of crypto trading volume. It now serves over 2 million registered users across 50+ countries.

So what helped Bitget gain so much traction so quickly? A few of the exchange offers:

• Intuitive and easy to use trading platform.
• Excellent liquidity on major crypto pairs.
• Fast transaction speeds and 24/7 uptime.
• Innovative social trading features appealing to newbies.
• Lower trading fees than many competitors.
• Broad selection of altcoins available.
• Bitget Copy Trading.

But Bitget isn’t without its downsides too. I’ll dig into the advantages and disadvantages next…

Pros and Cons of the Crypto Exchange

Features and Services offered by Bitget

Some of the key features and services offered by Bitget exchange include:

Trading Platform Interface

The trading interface uses an intuitive layout that most traders will find familiar. All the major functions like charts, order books, trade history etc are easily accessible.

I’m able to manually execute trades quickly across spot, margin and derivatives markets. Customizable layouts allow me to tailor the experience to my preferences.

For first time traders, Bitget has a beginners guide explaining how the exchange works. The trading simulator helps practice with virtual funds.

Advanced Charting with TradingView Integration

Bitget has partnered with TradingView to provide advanced charting and technical analysis tools directly on its trading platform.

This allows traders to access TradingView’s powerful charting without leaving Bitget. Some benefits include:

• Detailed interactive charts with over 50 technical indicators available
• Ability to draw trendlines, fib retracements, shapes and more
• In-depth charting to spot patterns and make trading decisions
• Customizable layouts and chart templates
• Synced between TradingView and Bitget for seamless trading

Having TradingView’s robust tools integrated natively makes Bitget a more capable platform for advanced traders who rely on technical analysis. Traders can utilize advanced features like backtesting strategies and custom indicators without switching between platforms.

Copy Trading

Bitget allows novice traders to copy more experienced traders using the One-Click Copy Trade feature, similar to eToro.

This allows beginners to copy the trades of vetted experts. Whatever the “master” trader does, the copy trader mimics automatically with their own capital.

It’s an easy way for newbies to piggyback off the success of more experienced traders while learning the ropes.

100x Leverage Trading

As an advanced trader, I love that Bitget offers up to 100x max leverage on certain derivatives contracts like BTC and ETH futures.

Needless to say, this magnifies both profits and losses substantially. It allows me to enter larger positions with less upfront capital.

This amount of leverage exceeds most competitor exchanges, even giants like Binance.

However, I only recommend ultra-high leverage if you really know what you’re doing – it’s risky!

Mobile Apps

Bitget offers free iOS and Android mobile apps with full account access on the go. You can easily execute trades, deposit funds, collect staking rewards and more.

The apps also support key features like derivatives trading, margin trading, copy trading and more. Ratings are high on both the iOS App Store and Android Google Play.

Staking Yields

When I’m not actively trading, I like earning yield on my crypto holdings through Bitget’s staking program.

Some of the returns I’ve seen are ~10% on ADA, ~20% on DOT, and 2% on ETH. These easily beat returns from traditional savings accounts.

The instant liquidity with no lock-up is great – I can unstake at any time if I need the funds.

Insurance Fund

Here’s one more perk I appreciate as a risk taker – Bitget’s $200 million insurance fund.

This acts as a safeguard against liquidations and clawbacks if positions go deeply negative.

Knowing this protection is there lets me trade with slightly more confidence.

BGB Token Unlocks Platform Perks

The BGB token is the native utility token for the Bitget ecosystem. Holding BGB gives traders access to benefits and discounts on Bitget such as:

• Up to 50% off trading fees when paying with BGB
• Exclusive airdrops and token giveaways
• Increased earning rate on crypto loans
• Faster ID verification and enhanced customer support
• Access to new products and features before others

BGB has a fixed supply and is used to incentivize liquidity and loyalty on the platform. Traders can acquire BGB through activities like referrals, trading competitions and staking BGB to earn yield.

As an active Bitget user, I find the BGB token valuable for reducing my trading costs and unlocking perks. The fee discounts alone lead to significant savings given Bitget’s already low fees. If you plan to trade frequently, holding BGB is a no-brainer.

The token benefits incentivize liquidity while rewarding loyal users of the platform. BGB has utility for serious traders on Bitget seeking the best rates and experience.

Supported Crypto and Trading Pairs

When it comes to asset selection, Bitget offers most major cryptocurrencies as well as hundreds of smaller cap coins and tokens:

Major coins – Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Ripple (XRP) etc.

Stablecoins – USDT, USDC, BUSD, DAI etc.

DeFi coins – UNI, CAKE, AAVE, COMP etc.

Metaverse – MANA, SAND, GALA etc.

While not as extensive as some exchanges, Bitget covers most of the top 50 cryptos which are enough for common traders.

In terms of trading pairs, there are over 600 combinations available including spot, futures, perpetual swaps and options.

The order books and liquidity pools are deep on the most actively traded pairs like BTC/USDT, ETH/USDT, etc. But thinner for more obscure combinations.

Staking Rewards

Bitget staking allows you to earn passive income on your crypto holdings. By staking coins, you help validate transactions on proof-of-stake blockchains while earning rewards.

Some of the staking options include:

• ADA: Earn up to 10% APY
• ETH: Earn up to 2% APY
• DOT: Up to 20% APY
• XTZ: 5-6% APY

Staking rewards are credited daily with no lock-up periods. Bitget does take a small percentage fee from staking yield.

Find out where else you can stake cryptocurrency here.

Security

As a centralized crypto exchange, Bitget stores user funds and personal data on its servers. So adequate security is critical.

Some of Bitget’s security practices include:

• 95% of assets held in multi-signature cold wallets.
• Funds insured up to $200 million through Bitget Insurance Fund.
• 2FA authentication required for accounts.
• Encrypted HTTPS protocols used.
• DDoS protection to mitigate attacks.

There have been no major security breaches reported yet. But that does not guarantee future safety as threats are evolving.

Supported Payment Methods – deposit cryptocurrencies on Bitget

Deposit and withdrawal options are a bit limited on Bitget compared to traditional exchanges. The supported payment methods are:

• Cryptocurrency: Direct transfers of coins like BTC, ETH etc. from any wallet. Zero fees but slower.
• Third-party payment: Services like PayTM, Simplex with higher 2-5% fees. Fast and easy but lower maximums.
• P2P trading: Bank transfer, e-wallet and gift card options supported. Fees vary by ad – can get expensive.

I really wish they supported direct wire transfers like Binance. The third-party services have much lower deposit maximums.

On the bright side, once your crypto is on Bitget, trading between different cryptocurrencies is seamless.

Bitget Fees

Trading fees and other charges should be considered when choosing an exchange. Here are the various fees charged by Bitget platform:

Spot Trading Fees

Trading Type	Maker Fee	Taker Fee
Spot	0.05%	0.05%
Futures	0.02%	0.06%
Options	0.03%	0.06%

As you can see, spot and derivatives trading fees are competitive. Large volume traders can get discounts.

Margin Trading Fees

Margin trading allows you to borrow funds from Bitget for leverage. Interest is charged on loans daily.

For BTC, the daily rates are approximately:

• Borrowing: 0.01%
• Lending: 0.005%

Margin rates vary for different coins based on demand/supply.

Withdrawal Fees

Withdrawing crypto off Bitget into an external wallet incurs the following fees:

Coin	Withdrawal Fee
BTC	0.0005 BTC
ETH	0.01 ETH
LTC	0.001 LTC
DOGE	1 DOGE
XRP	0.25 XRP

As you can see, withdrawal fees are fixed amounts. So costs are higher for withdrawing small amounts.

Bitget Customer Support

Bitget has an extensive help center with FAQs, guides and how-to articles that cover most topics. This allows users to find answers to common questions.

Additionally, 24/7 customer service is available through:

• Email support – Send queries to support@bitget.com
• Live chat – Chat with support staff on web or in mobile apps

Response times are fairly quick during business hours. But delays can happen during peak periods.

Bitget also has an active Twitter profile, Facebook page and YouTube channel for announcements, alerts, education and marketing content.

Bitget Reputation and Track Record

As a relatively new exchange founded in 2018, Bitget does not have the long track record of other platforms. However, it has rapidly grown to become a top player in the crypto space.

Here are some signs that Bitget is legitimate and developing a solid reputation:

• Has served over 2 million registered users and counting.
• Ranked within top 5 exchanges on CoinMarketCap for volume.
• Backed by well-known investors like Matrix Partners, Octava and Mediadc.
• Listed by other data sites like Coingecko.
• Actively attends and sponsors blockchain events worldwide.
• Has partnerships with numerous crypto projects.
• Has not experienced any major hacks or scandals so far.

However, it’s worth noting that Bitget operates offshore (Singapore and Hong Kong). This means there is less regulatory oversight compared to exchanges in jurisdictions like the USA, EU, UK and Australia.

Proceed with caution as with any cryptocurrency platforms that are still somewhat new. But overall, Bitget seems to have a decent reputation thus far.

Trade on Bitget vs Other Exchanges

How does Bitget compare against some of the top crypto exchanges in the market? Here is a quick rundown of its similarities and differences to others:

In summary, Bitget competes well when it comes to fees and user experience. The liquidity and coin selection is lower than top exchanges like Binance and Bybit. But overall, it stands as a solid mid-tier choice.

Exchange	Liquidity	Fees	Coins	Experience	Security
Binance	Excellent	Low	Outstanding	Beginner + advanced	Robust
Bybit	Good	Low	OK	Advanced traders	Decent
Gate.io	Good	Low	Excellent	Intermediate + advanced	OK
Crypto.com	Good	Average	Very good	Beginner friendly	Good
Bitget	Good	Very low	Good	Beginner friendly	OK

Find out in more in-depth comparison in our exchange battles:

Bitget vs Binance

Bitget vs Bybit

Bitget vs Gate-io

Is Bitget Right for You?

With hundreds of exchanges out there, how do you decide if Bitget is a good choice?

Here are a few trader profiles that I think would thrive using Bitget:

• Beginners – The simple interface, educational resources and copy trading makes Bitget suitable for new crypto investors.
• Altcoin traders – Although not as extensive as some platforms, Bitget offers access to hundreds of cryptocurrencies.
• Leverage traders – Bitget allows up to 100x leverage trading on certain derivatives contracts for amplified gains.
• Staking investors – The wide selection of staking coins and lack of lock-up periods is a major perk.
• Discount seekers – The low trading fees and staking yields provide more value.

On the other hand, advanced traders and investors might be better off on other exchanges that offer more sophisticated tools, broader assets and stronger security.

Final Verdict – Should You Use Bitget?

So what’s the final verdict after extensively testing Bitget exchange for the past 6 months?
I have to say I’m impressed overall by the user experience and features Bitget provides:
💚 Beginner friendly with good educational resources.
💚 Low trading fees keep more profits in your pocket.
💚 Generous staking rewards provide nice passive income.
💚 Copy trading allows mimicking experienced traders.
💚 Responsive customer service via live chat.
🛑 Payment method options could be expanded.
🛑 Occasional downtime needs to be improved.
Considering its rapid growth, shortcomings around uptime and payment methods are understandable. And I expect they will continue improving quickly.

For an exchange launched only in 2018, Bitget has exceeded my expectations. I’m comfortable keeping a portion of my portfolio here and suggest intermediate to advanced traders give it a try.
Visit Bitget and decide for yourself if it meets your trading needs!