The right tools can make cryptocurrency trading exciting and straightforward, even though it is challenging and not advised for beginners. Bitget Exchange is one of the top cryptocurrency exchanges and provides a wide range of crypto coins and tokens for marketing. For crypto newbies, it will be simple to quickly get used to trading cryptocurrencies on an exchange that offers a One-Click copy trade.
With the One-Click Copy Trade feature, which allows Bitget users to copy the actions of other professional traders, traders can trade through the spot or futures markets with little cost associated with trading.
Because of this, this exchange will be appealing to traders who are serious about trading cryptocurrencies. So if you are already thinking about Bitget, sit back while we take you on a long ride explaining Bitget and its service in this Bitget review article. So what is Bitget?
Coin-Labs has signed a business partner agreement with Bitget Exchange in 2021. Therefore, if you sign up for the Bitget Exchange through Coin-Labs, you can participate in several events with highest commission level and bonuses of up to 4,163 USDT.
What is Bitget?
The Bitget exchange is a company that lets its customers exchange cryptocurrencies for other assets like traditional fiat money or other virtual currencies. Bitget, which supports spot trading and futures, has quickly developed into one of the top exchanges for cryptocurrency derivatives.
This exchange has over 2 million registered users and one of the highest daily average futures volumes in the first half of 2022.
To safeguard its users’ assets, Bitget employs the best security measures. It uses multiple signatures, a hybrid hot-cold wallet system, a bank-level SS data encryption standard, a robust risk control system, and an integrated DPI active defense system.
The operating systems that Bitget Exchange supports include Windows, Mac, iOS, and Android. The platform is stable, thanks to the trading system, which can complete up to 100,000 trades per second.
The Bitget App is available on Google Play and the Apple Store and supports English, Chinese, Vietnamese, Korean, and Japanese.
Where is Bitget located?
Bitget Exchange is based in Singapore, but it also has regional offices there, as well as in China, South Korea, and Japan. Additionally, it is spreading to SEA nations such as the Philippines, Vietnam, India, and Indonesia.
Bitget is a reputable exchange because it holds regulatory licenses from the US, Canada, and Australia. Additionally, they have financial exchange permits for the US, Canada, Singapore, and Australia.
Who created Bitget?
The Bitget Group, a digital financial company, launched Bitget in April 2018 as a centralized cryptocurrency. Sandra Lou is the CEO, with Intae Song serving as the Chief Sales Officer.
Global leaders in social media, financial software, cryptography, and investment make up the team at Bitget. SNK, 8 Decimal Capital, and An Lan Capital are a few of the top investment companies that help to raise Bitget Exchange’s value and solve its liquidity issues.
Is Bitget legit?
Yes, Bitget exchange is legitimate and secure for trading and other crypto activities. Bitget is a reputable exchange because it holds regulatory licenses from the US, Canada, and Australia.
How to use Bitget
You must register as a member before using the Bitget exchange. And this demands that you set up your Bitget account if you are new. Here is the process you need to set up a Bitget account.
1. Visit the Bitget Official Website
The first step is to go to Bitget’s website to get started with the website. Visit bitget.com or download the iOS or Android app to begin the process.
Coin-Labs has signed a business partner agreement with Bitget Exchange in 2021. Therefore, if you sign up for the Bitget Exchange through Coin-Labs, you can participate in several events with highest commission level and bonuses of up to 4,163 USDT.
2. Complete the Signup Process
On the app or website, click “Sign Up” in the top right corner. To register, pick a phone number or email address, enter the address or number, pick a password, and accept the terms of service. You can create a new user account by providing an email address or a phone number.
3. Solve the Captcha
After completing the captcha, enter the code sent to your phone or email. If the process is successful, prepare to make your first deposit. To guarantee that you have access to a 200 BTC withdrawal limit, complete the verification process.
4. Verify Your Identity
Click the “Verification” button on your account information page or the ID verification tab to begin the procedure. Afterward, take these actions:
- Input your name.
- Pick an ID type.
- Specify the ID number.
- Upload a photo of the ID’s front and back and a selfie in which you are holding a piece of paper with the words “Bitget” and the current date.
- After you click “Submit,” Bitget will confirm your identity before raising your limits.
5. Purchase or Deposit Crypto
You should fund your account with your first deposit to use Bitget’s services for the first time. Click on the “deposit crypto” button to begin the process.
How to Buy Bitget crypto
You can purchase Bitget tokens on other top wallets. Here’s how you can buy Bitget tokens.
1. Download wallet
For this example, we use a self-custody wallet like Coinbase Wallet to purchase a Bitget token. This Wallet is available for download as a browser extension and a mobile app.
2. Wallet set up
The next step is to configure your Coinbase Wallet after downloading your wallet. Select a username to make it simple for other wallet users to send you cryptocurrency. For access to the account, you will undoubtedly need this name.
3. Copy recovery phrase
You’ll get a recovery phrase composed of 12 random words.
It is recommended to write these down and keep them in a safe location: or to use Coinbase Wallet’s cloud storage and backup options. This crucial phrase is the key to your crypto, which means anyone who knows your recovery phrase can access your crypto. If you forget your recovery phrase, no exchange—not even Coinbase—can grant you access to your wallet.
4. Set aside gas fees
You will need to pay some network fees before processing can start, and these fees change depending on how active the network is or how complex the transaction is. Your preference for quick transaction completion is another factor that affects the gas fee.
5. Buy and transfer ETH
To make it easier to pay for gas fees, you can now go ahead and buy ETH and transfer it to your wallet.
6. Buy Bitget token
With ETH in your wallet, you can start the process by tapping on the button to swap your ETH for Bitget Token right in the mobile app or browser extension.
Choose Bitget Token as your asset when you click the “Swap” icon on the Assets tab. You must exercise caution when determining how much to exchange for Bitget Token. To cover these expenses, always keep extra ETH on hand.
Through the spot market, you can purchase Bitget Token (BGB) directly on Bitget. Holding BGB entitles users to a 20% discount on trading fees. To receive a 15% fee reduction when trading on margin, BGB can provide collateral. BGB can be used as collateral for margin trading to get a 15% fee break.
How to trade in Bitget?
Bitget exchange provides spot trading, leverage, and derivatives trading, but it primarily focuses on the latter. Derivative trading is the speculation of an asset’s future price movement through the purchase or sale of derivative contracts.
The buying or selling of goods, financial instruments, or foreign currencies are all included in spot trades. Spot trading is a fantastic way to earn money quickly, but there is no guarantee that you will be profitable, and you run the risk of losing money if the market declines.
Leverage trading entails using borrowed funds to increase one’s trading position beyond what would be possible with their cash balance. Leveraged trading has the potential to generate sizable profits but also sizable losses. Again, the smaller the opposite price movement must be for you to lose your investment, the more leverage you are using.
To begin trading on Bitget exchange, ensure you’ve finished the verification process and made your initial deposit. Afterward, transfer your cryptocurrency from your spot wallet to your new wallet.
Make sure to start with low leverage, such as x5 or x2, or start with spot trading if you are new to trading cryptocurrencies.
Select the cryptocurrency or asset you want to trade on the Bitget website. If you selected USDT m-future, the trading view appears like the screen below:
You can switch to a different language or currency. You can change the trading time, high and low values, and trading duration.
Can I use Bitget in the US?
Yes! Bitget is available in the US. Bitget exchange claims to have licenses from Canada, Singapore, the US, and Australia on its website.
This indicates that investors from each of these nations are welcome to trade at Bitget.
Bitget Fees
1. Trading Fees
Spot market
Takers and Makers are charged 0.1.
Futures
Bitget charges 0.02% from makers and 0.06% from takers.
Using BFT, the native Bitget token, to make payments will reduce transaction fees by 30%.
2. Withdrawal Fees
A BitGet withdrawal’s cost varies depending on the asset, the network’s condition at the time, and other factors. Bitget does not support fiat withdrawals as of now.
For example, the fee for withdrawing bitcoins is 0.0006 bitcoin per withdrawal. For ETH withdrawals, you pay 0.006 ETH.
3. Bitget Deposit Fees
The addition of cryptocurrency to users’ Bitget accounts is free of charge. But there is a variable fee of between 4% and 8% when making purchases through third-party payment merchants.
Deposit Methods
You can deposit crypto in Bitget by buying crypto with fiat currencies or depositing crypto into your Bitget wallet from another cryptocurrency wallet.
Additionally, Bitget exchange permits the use of wire transfers only (not credit or debit cards) for the deposit of fiat currency.
Pros and Cons of Bitget Exchange
The Copy Trade feature of Bitget exchange appears to be its most advantageous feature. You can mechanically imitate successful traders’ trading techniques using this feature. Again, Bitget has low transaction fees and a strong regulatory foundation, and it doesn’t charge you any fees if you want to buy cryptocurrency.
On the other hand, restricted nations and/or areas have few services and educational resources. Customer service could be enhanced.
Conclusion
Bitget exchange is a good option if you’re looking for a robust crypto trading exchange. Just remember that the cryptocurrency market is risky and unstable despite the excellent trading platform you are using.
