Bitget Review 2022: Pro, cons & Key Features

Bitget is a cryptocurrency derivatives trading platform, offering a wide selection of tokens and cryptocurrencies which are actively available for trading via spot or futures trading, with meager trading fees. 

It has received its regulatory license from the US, Canada & Australia, making it a very trusted exchange platform in the world, has more than 2 million registered users, and is ranked in the top 5 in the year 2022 among the daily average future trade volumes on CoinGecko. It offers a smooth, user-friendly experience, rewards, and many more. 

If you want to start trading and are considering using Bitget, we have evaluated every aspect of the crypto trading platform carefully, so continue reading as we give you an in-depth guide for the platform.

Pros And Cons of Bitget

Bitget At A Glance

Bitget Exchange: Company Overview

Bitget is one of the most trusted cryptocurrency exchange platforms. It was founded in 2018  by Sandra Lou and had its token known as BGB. Ever since the platform’s foundation, it has grown to have about million registered users worldwide and ranked in the 3rd position among the largest cryptocurrency exchange platforms in the world with the highest daily trading volume. 

In addition, the platform also offers relatively low trading fees, as compared to many platforms, has about 250+ trading pairs, has received licenses from the USA, Australia, Canada, and Singapore, and is legally allowed to perform the trade from the platform. In addition, the platform has established itself in terms of its stringent security and offers low fees for derivatives and spot trading. 

Primarily, the platform aims to trade with derivatives, making it a convenient experience for advanced and beginners. Besides, once signed up, you can also get involved in the several trading functionalities provided by the platform. 

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Cryptocurrencies Supported In Bitget  

Bitget is an active crypto trading platform trusted by many where you can easily trade via Spot trading or futures trading. It has over 250 currency assets and tokens available to trade for its users and has about millions of active traders daily.

To give you an idea, here’s a tabular presentation of the top crypto projects listed over the exchange: 

In addition, the exchange is also open to accepting new and potential crypto projects in the future. Therefore, if you’re a trader or investor buying or trading new projects, you might want to sign up for Bitget. 

Key Features Of Bitget

Bitget, one of the world’s largest crypto trading platforms, has many core features and additional features, making it rank among the top 20 global crypto exchange platforms. To give you an idea, here’s an overview of the critical features of the platform: 

Seamless Compatibility 

Compatibility happens to be one of the top features of the Bitget platform. Users signing up for the platform have access to its simple, easy-to-use platform that simplifies the entire trading experience easy and functional for its users. In addition, the variety of applications across Apple, Google, and Windows stores allow users to trade seamlessly across multiple devices. 

The sign-up process is also pretty convenient and won’t take hours or days (as with most exchanges). When signing up with Bitget, you can expect a seamless onboarding process via its easy-to-interpret instructions over the website. 

Project Token Rewards

The token rewards are another primary feature that attracts a lot of users to the Biteget platform. Here, users get a chance to make the most of their investments by participating in new and upcoming events in exchange for rewards.

Talking of one such program, the exchange has launched its platform for featuring the project tokens and is named Bitget Launchpad, open for exclusive rewarding events over the platform. Users signing up for the different programs running over the platform can win featured launching project rewards. They’re also allowed to either stake their crypto assets or exchange them for these rewards. 

Bitget Token

Almost all the major crypto exchanges today have their tokens on offer, and Bitget is no exception. Users signing up for the Bitget platform can make the most of their everyday operations over the platform once they buy or win the BGB token.

Interestingly, that’s not all! The token can also be used to settle transaction fees and provide the users with up to a 20% discount on their trading fees and a 15 percent discount if the user trades in futures. 

Innovative Products

Next up it’s the different innovative products that the platform has on offer. When talking of Bitget, there are no second thoughts about how the platform has come up with new and improved features to simplify trading for both beginner and advanced traders. 

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Interestingly, that’s not all! In addition to the pre-mentioned tokens, Bitget allows users to leverage numerous crypto products for everyday trading. Some of these include one-click trading, access to conversion without converting tokens, and its leading derivatives feature supporting USDC margin makes it unique.

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Additional Features Of The Platform:

Those mentioned above were some of the primary features of the Bitget platform. However, that’s not all the platform has on offer. Therefore, to give you a better idea, here’s an overview of the other features of the platform discussed in the following section: 

• Global Compliance Operation: The crypto industry has largely been defamed for running unregulated operations. However, that’s not the case with Biteget. The platform is registered under multiple financial institutions. It has acquired its licenses from all the leading countries like the US, Canada, and Australia, providing a solid foundation to beginner investors. 
• Quanto Swap Contract: Quanto Swap Contract is an exclusive Bitget trading feature that allows users to use various crypto assets they have collateral and then trade crypto on a margin using a variety of trading pairs. It also allows its traders to retain the charges for the conversion of coins to coins C2C  and for collecting profits earned from the higher value of coins. 
• Leverage Trading: A feature that primarily suits the likes of advanced traders, Bitget allows its user to make trades with leverage where they offer perpetual, meaning their future trades do not expire. Once signed up with the platform, you can access up to 100 x 100 times the maximum leverage limit. 
• Copy Trading: Copy trading is one of the unique features of Bitget, where it allows the traders to copy the strategies of other users on the platform and do better in trading free of cost. As for the traders from whom the other traders follow, they can make up to 8% profit from their followers, followed by developing effective strategies with copy trading.
• Derivatives Trading: Derivatives are contracts, which gain value from an asset, which could be either currencies, commodities, exchange rates, stocks, currency rates, etc., and involve the selling and buying of financial instruments on the market. The other forms of trading are Quanto Swap Contract, Derivatives Trading & API trading. 

Trading Experience

Talking of the trading experience, Bitget offers a simple and clean trading module for all its users. Therefore, no matter if you’re a beginner or an advanced user, you can make the most of the platform without signing up for any additional premium account. 

The console for the users is straightforward, backed by a smooth and easy trading process that is functional to everyone. Besides, the access to live charts and interactive trading tools for the users will allow seasoned professionals to make the most accurate calls to their trade. Overall, the trading experience seems clutter-free and reliable for users of every type. 

Fee Structure

Bitget charges a very low fee compared to any industry, which helps it to stand out from other platforms. Often other platforms work on the maker-taker fee model and charge about 0.10% maker fee and 0.20% taker fee. Still, since Bitget has spot trading options and contracts, it is important to understand takers and makers pay the same fee of 0.20%, and the fee is reduced to 0.14 % when the trader pays using the native token, Bitget DeFi Token ( BFT ).

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In addition, the platform is also reasonable with its withdrawal fees, even after the withdrawal minimums over the platform.To give you a better idea, withdrawals in BTC can attract a 0.0006 fee, while the other ERC-20 tokens are charged variably. However, the platform has no deposit charges, making it a better exchange option. 

Is Bitget Safe?

Bitget offers a very secure trading platform, where it is said to have the safest trading system, which is highly efficient for its customers. It has a security team solely focused on improving the end-to-end security measures, reducing the attack surface for its infrastructure. It also has a regulated license from authorities of Canada, Australia, and the United States. 

In addition to it, the platform has also been awarded 12 A+ scores at SSL Labs. Other than that, it also provides other security systems mentioned below: 

• Hot & Cold Wallet: A cold wallet is an offline wallet that is not linked to the internet and has a very low risk of being compromised by any means.The funds of Bitget are stored in cold storage for maximum security for its traders’ funds. On the contrary, the Bitget hot wallet keeps a portion of its funds required for any official withdrawal. Overall it stores low funds in hot wallets as most of its funds are stored in cold wallets. 
• Two-Factor Authentication: The 2FA ( 2-factor authentication ) is a must process for the users of Bitget, as it acts as an extra layer of protection. To make any trade, you have to have 2FA enabled; if not, the traders are not allowed to perform any exchange.
• Multiple Licenses For Authenticity: Where some of the trading platforms fail to get regulated licenses, Bitget bolsters three regulated licenses, one from The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury for the United States, second from The Financial Transactions and Reports Analysis Center Of Canada (FINTRAC) for Canada, and Australian Transaction reports and analysis center (AUSTRAC) making it one of the most secure platform to exist.

All of these features make Bitget a reliable platform where you can get started with your career in crypto trading. 

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Opening A Bitget Account 

Bitget has a very smooth UI/UX that is very user-friendly and easy to understand and use; it has a very similar process to any other cryptocurrency exchange platform. 

Step 1: Search for the Bitget website or download it on your device. 

Step 2: Once you download it or come to their main landing site, you’ll see Sign Up the first time you open it. 

Step 3: Complete the registration process, where you need to add your details, your valid-id proof to verify your details, and a selfie as well to match your identity with the ID you have provided. 

Once you’ve followed the aforementioned steps, all you need to do is opt for your payment method and fund your account to start trading.

Customer Satisfaction

Bitget has over 1000+ reviews, and has a rating of 4.3 out of five-star rating. 

Among all those review sections, the positive feedback was specifically for its security and the fast & advanced features.

However, among all those positive reviews, some were negative, making us realize that the platform still has some parts to be updated. 

Bitget Vs. Competition

Bitget, one of the safest and most widely used crypto trading platforms in the world, has many accessible features and is very user-friendly. Besides that, it is also a main global platform for many traders. 

However, similar to the pros, the platform has its drawbacks. Therefore, if you think the platform isn’t enough for you, let’s evaluate its performance with one of its leading competitors, eToro, in the following section. 

Bitget vs. eToro

In terms of active traders and security, Bitget and eToro both continue to be marked as the largest crypto exchange platforms in the world. Even though both the platforms might have few similarities, they still have many differences to be discussed and considered if you are looking forward to using the platform and getting started with trading. 

Here’s a detailed comparison between the platforms: 

1. Security: When it comes to security, both the companies provide a very secure and safe place for their traders, like eToro, which operates with the FCA, CySEC, and ASIC, whereas Bitget has got 3 regulated licenses and has been awarded 12 A+ scores at SSL Labs.
2. Trading Fees: Bitget and eToro both have a number of users all across the globe, yet they both differ and have a vast difference in their trading fee structure, where the trading charge of eToro is comparatively on the higher end. eToro charges 0.75 % as a maker and taker fee and 5 USD as a withdrawal fee, whereas Bitget charges 0.10 % as a maker and taker and 0.0006 Bitcoin as a withdrawal fee.
3. Cryptocurrencies Supported: Since both the platforms have similar trading options, eToro still falls back in terms of currencies. eToro supports about 20 currencies, whereas Bitget supports about 286 cryptocurrencies, which is relatively more than eToro, meaning Bitget wins eToro by a landslide.

Looking at this short but comprehensive overview, it’s evident that both eToro and Bitget are very competitive in their appeal. However, Biteget takes a lead over eToro in all the primary aspects of trading. 

Final Verdict

Should You Consider Using Bitget?

Bitget is one of the most established top cryptocurrency exchanges in Asia and provides its users with a better way of trading life. It has an easy-to-use interface, making it a very user-friendly, secure trading platform. Having said all that, below are some important things to consider if you want to get into trading, especially via Bitget:

1. 1. Low Trading Fee: The primary reason why any beginners or an advanced trader would like to trade in Bitget is because of its low trading fee. Bitget allows you to trade with a very low trading fee than any crypto trading platform, making it easy for its traders to get more profit as a result.
   2. Access To Copy Trading Tools: Among all the normal features provided by Bitget, it offers a very unique trading process, known as copy trading which makes the whole process of trading very simple and smooth especially if you are a beginner. You can actively place secure and advanced level trades by copying any traders and secure a large amount of profit without any prior trading knowledge. 
   3. Stringent Security Measures: Bitget has brought forward a very intense, secure, smooth, and user-friendly platform, which has more than millions of active traders on a daily basis. Nevertheless, Bitget also has 3regulated certificates and has been awarded 12 A+ scores at SSL Labs.
   4. Access To Advanced Trades: The platform has access to almost all the major advanced trades that advanced users can think of. Once signed up, you can access anything from leverage trading to investing in derivatives and futures. 

Shortcomings Of Bitget

Having positive reviews and many features does not mean that the platform won’t have any shortcomings. Some of these notable shortcomings of Bitget are stated below: 

1. 1. Lack of Cryptocurrencies: Although Bitget has about 250 active tokens, the users still think that it would be a great move if the platform had more cryptocurrencies, provided it gives them more scope for earning funds.
   2. Customer Support: Customer support happens to be a leading cause of concern for almost all the primary exchanges and Bitget is no exception! The platform has some room for improvement when it comes to prompt customer support. 

This brings us to the end of our comprehensive review of the Bitget platform. Considering the same, it’s evident that the platform is innovative and brings some equally reliable features and functionalities to its users. However, even after all the pros to it, Bitget also has several shortcomings. 

Therefore, if you’re one of those users who want to access trading under responsive customer support, Bitegt isn’t the platform for you. Here, you might want to look for a different exchange for yourself. However, while you’re on your hunt for the ideal exchange, do refer to our blog for guidelines. All the best! 

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