What Is Bitget?
Bitget boasts over 2 million registered users worldwide and a 24-hour transaction volume of $5.6 billion. In January 2022, its featured product, Coin-Margin futures, drove Bitget to the #3 spot globally for daily average future trading volume, reaching an all-time high of $7.82 billion.
Although Bitget provides low fees for both spot and derivatives trading, the platform primarily emphasizes derivative trading. Derivatives are financial instruments based on the liquidation price of assets like bonds or stocks. Traders from the USA, Canada, Australia, and Singapore can legally engage in trading on Bitget as the platform has obtained licenses from these countries.
Bitget: Pros and Cons
Evaluating the advantages and disadvantages is an important aspect of choosing a cryptocurrency exchange.
Pros of Trading with Bitget
Bitget offers the lowest trading fees on the market.
- Purchasing cryptocurrencies on Bitget incurs no fees.
- The Bitget platform offers a copy trading feature.
- The maker fee and taker fee on Bitget are both 0.10%.
- Bitget supports a vast selection of tokens and coins.
- Customer support is available 24/7 on Bitget.
- Transaction fees on Bitget are negligible.
- Bitget holds regulatory licenses from Australia, Singapore, Canada, and the USA.
- Bitget offers unified contract trading.
Cons of Bitget
- The asset selection on Bitget exchange is not extensive.
- The sole withdrawal option on Bitget is cryptocurrency.
- Trading cryptocurrencies on Bitget entails a higher risk profile.
- Bitget requires greater branding efforts to enhance its visibility.
- The customer support service on Bitget could benefit from improvement.
How Does Bitget Work?
Bitget offers a variety of options for customers, including spot trading, derivatives, and copy trading. Bitget's Futures trading feature utilizes perpetual futures contracts, which are commonly used in cryptocurrency trading as standard contracts for difference.
Leverage refers to the capacity to invest more than the amount available in the user's bank account. Bitget offers a leverage of up to 125x for trading pairs such as USDT/BTC. This means that users can create a position that is 100 times the amount they deposited. It should be noted that even a minor movement against the user's Bitget account can trigger liquidation of the position, causing them to lose access to their funds.
Exciting Features on Bitget
Bitget is a reputable platform recognized for its innovative trading products that allow users to trade without converting tokens. Its features include One-Click Copy Trading, USDC Margin Trading Support Derivatives Exchange, etc. Users praise Bitget for its risk control measures, such as segregation. cold wallet and hot wallet, and received 12 A+ ratings from SSL Labs. Qingsong Cloud Security, Armors, HEAP, and Suntwin Technology support the security of the platform.
Bitget offers multilingual online customer support and live support for VIP customers. It also has a reward center for the crypto community. The exchange uses a proprietary trading pair system and has unique derivative products, ranking among the top six crypto exchanges by trading volume. Bitget has licenses from Canada, Australia, and the United States that adhere to strict regulatory standards. It is listed on CoinGecko and CMC.
Is Bitget Regulated?
Bitget exchange is a legitimate platform and not a scam. Its valid HTTPS connection ensures secure communication between the user and the website. The platform's substantial traffic has made it one of the most recognized cryptocurrency exchanges, providing further assurance of its reliability. Users can rest assured when trading through Bitget exchange.
Range of Services Offered by Bitget
Profitable Futures
Bitget offers various futures trading options such as USDT-M Futures, USDT-M Demo, Coin-M Futures, and Coin-M Futures Demo. Futures trading means that a user commits to buy or sell a crypto asset to another trader at a predetermined price and time. This is a derivative transaction because the trader is dealing with the value of the crypto asset, not the physical asset itself.
Bitget also offers a unique futures trading method called Coin-Margined Futures, which supports multiple currencies to be used as margins for different trading pairs. For instance, users can use ETH as a margin to trade BTCUSD, ETHUSD, and EOSUSD and their profit or loss will be calculated in ETH.
Leverage Trading
Bitget offers leveraged trading to traders, but only in perpetual futures, with no expiration date. The maximum leverage limit price for perpetual futures can be up to 100 times the value. While leveraged trading can offer substantial profits, it also carries the risk of loss.
Copy Trading
What is Bitget Copy Trading?
Copy trading is an easy-to-follow trading strategy on Bitget. Once registered, users can browse through various professional traders and examine their trade history. They can then select a trader whom they believe can generate profit and start copy trading. Essentially, copy trading involves copying the trading strategy of an experienced trader to increase one's profits.
What should you do Before Starting Copy Trading?
Prior to starting copy trading on Bitget, it's crucial to review the profiles of the various traders registered on the platform. Take the time to analyze their trading history, win/loss ratio, and overall expertise in crypto trading. It's essential that the trader you select makes informed decisions based on knowledge rather than luck.
How to Start Bitget Copy Trading?
Here are the rewritten steps to start copying transactions on Bitget:
- Visit the official Bitget website.
- Click “Copy Trade” in the navigation bar menu.
- Review the list of ratings and choose a trader based on your preferences. Make sure to review their records and transaction history.
- Confirm the copy transaction and proceed with the installation.
- Select the contract and tracking mode, then adjust other settings as needed.
- Click “Next” to confirm the copy trade information.
Copy Trading Benefits
Followers Benefits
Bitget is recognized for its reputation as a secure and dependable platform that exercises careful supervision over all traders and their transactions. With hundreds of experienced professional traders available for selection, Bitget provides complete transparency of data. To minimize risks and maximize profits, users can choose to follow multiple traders at once. Furthermore, followers can adjust their capital allocation by withdrawing profits and terminating losses whenever they desire.
Traders Benefits
If you are a trader followed by someone then you will get a 10% profit when that person trades successfully. This not only helps you and other traders earn more but also allows them to improve their reputation in the crypto community when trading on Bitget.
Quanto Swap Contract
What is Quanto Swap Contract?
Bitget exclusively offers Quantum Swaps as a distinctive feature. This feature allows users to use various crypto assets they hold as collateral and then make margin trades with various trading pairs. The main benefit of Quanto is that it can retain your exchange fees on coin-to-coin while also allowing you to profit from the rising price of the margin coin. This is a very nice utility on Bitget that other exchanges do not have.
How to Use Quanto Swap Contract?
To start trading with Bitget's Quanto Swap Contract, first, sign up or log in to your account. If there's no balance in your Quantum Swap account, you can use the “Transfer” button to add funds. Proceed to the “Consolidated Contracts” section and access the Quantum Swap Trading page. Select your preferred trading pair, margin trading mode, order type, and leverage.
Enter the quantity and price of your order, and then select the order direction. Keep track of your PnL in the “Location” tab. Finally, to close a position, set a limit price, or use the Flash close option to close the position immediately without any discount.
Derivatives Trading
Fundamentally, derivatives are contracts that derive their value from an underlying asset, which can include stocks, currencies, exchange rates, commodities, and other comparable instruments. Trading in derivatives involves buying and selling these financial contracts in the stock market, with profits earned by forecasting future price movements.
Perpetual Contracts
Bitget's perpetual contracts are one of their most popular products, and the platform has dedicated a lot of effort to perfecting them. Investors have the option to buy and hold a long-term commitment or engage in short-selling contracts with digital currencies. Perpetual contracts operate similarly to margin-based spot trading. A notable aspect of perpetual contracts trading on Bitget is the funding cost mechanism that guarantees close tracking of the contract's price index.
Bitget Launchpad
Bitget has launched Launchpad, a new platform that offers rewards in the form of featured project tokens. These tokens can be purchased by holding or trading crypto assets. Karmaverse (KNOT), a metaverse game platform using blockchain technology, is one of the latest projects to be launched on the platform. To try out this new feature, create an account on Bitget.
API Trading
Users with profitable trading strategies and significant trading volume are invited to participate in Bitget's long-term market-making projects through their API. To start using the API, the user must log in to the website, register for the API, and complete the permission configuration. Once done, users can initiate transactions using the API.
The API provides the following capabilities: retrieving market data, placing and canceling orders, transferring funds between accounts in Bitget, and withdrawing assets from Bitget accounts from whitelisted IP addresses.
How To Register Bitget Account?
At present, Bitget Global Station provides two ways for users to register. Please select one of the following:
Visit Bitget or the Bitget PC app and click “Sign Up Now”.
Method 1: Register by phone.
(1) Enter your phone number, set a password, and confirm the password.
(2) Agree to the Terms of Use.
(3) Wait for the SMS verification code.
(4) Complete the registration process.
Method 2: Register by email.
(1) Enter your email address, set a password, and confirm the password.
(2) Agree to the Terms of Use.
(3) Wait for the email verification code.
(4) Complete the registration process.
Bitget Fees
Bitget Trading Fees
The Bitget exchange charges users a transaction fee when they place an order, usually as part of the value of the transaction. Recipients, those who take existing orders from the order book, and creators, who add to the order book to create liquidity, may have different fees across multiple exchanges. Taker fees are typically 0.1% for spot trades, while maker fees are 0.20%.
At Bitget, understanding spot contracts and options is essential. Both the receiver and the creator pay the same 0.20% fee for spot transactions. This fee can be reduced to 0.14% if the user pays with Bitget's native token, the Bitget DeFi Token (BFT).
When trading contracts, buyers pay a trading fee of 0.06%, which can be discounted to 0.04%. Additionally, users who register through a referral link will receive a 33% discount on market orders, while makers pay a fee of 0.02%.
Bitget Withdrawal Fees
When withdrawing from Bitget, a fee of 0.05% is charged based on the amount withdrawn, equating to roughly 0.0006 BTC per BTC withdrawal. This fee exceeds the current global industry average of approximately 0.00057 BTC per BTC withdrawal, as reported in recent studies.
Bitget Payment Methods
Deposit Methods
Buying and selling crypto on Bitget is user-friendly, although depositing fiat currency is limited to wire transfers and not available via credit or debit card.
Depositing cryptocurrency is a straightforward process. Clicking the “Deposit” button redirects users to a webpage where they can choose the cryptocurrency they want to transfer. The platform will then generate a wallet address for them to save or scan using a QR code.
Withdrawal Methods
Many users find withdrawals to be a straightforward process on Bitget. Upon opening the withdrawal window, users can enter the desired withdrawal amount and necessary information. Fees for withdrawals are charged by the exchange and displayed during the process, with a complete list available on the website.
For users who haven't completed the KYC procedure, the daily withdrawal limit is BTC20 or its equivalent in other cryptocurrencies. However, those who have completed the verification process can withdraw up to BTC 200 per day.
Withdrawals on Bitget rely on the exchange's network and are not under their control. Users must wait for the transaction to receive sufficient validations before the funds are credited to their account.
Bitget Supported Cryptos
Bitget supports a variety of cryptocurrencies including Yield Guild Games Token, Yearn Finance Token, Uniswap Token, TRON Coin, Tezos, Tether, SushiSwap Token, Ripple, Polkadot Coin, Litecoin, KNCL Token, Filecoin, Ethereum, EOS Token, ChainLink Coin, Cardano Coin, Bitcoin Cash, and Adventure Gold Coin.
Bitget Affiliate Program
Bitget Exchange operates globally and offers an affiliate program as a means of expanding its customer base. Affiliates are provided with a referral link and marketing materials to attract new active traders to the platform.
The affiliate program is restricted to verified customers, and details of referrals and payments can be found in the user account section.
Bitget affiliates have unrestricted access to withdraw their earnings and can benefit from special offers, professional assistance at any time of day, and corporate gifts.
Bitget (BGB) Token Details
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BGB is the official token of Bitget and has multiple use cases within its ecosystem. As an ERC-20 token, it is primarily used for fee deductions, contract margins in contract trading, and rewarding specific traders who participate in Bitget’s “Trade-to-Earn” program. Additionally, BGB offers up to a 20% discount on trading fees for Bitget traders and can be used as a margin in “coin-margined futures” with a 15% discount on charges.
Using BGB can also secure potential partnership opportunities and contribute to the continuous growth of the trading platform. Initially, Bitget used BFT (Bitget Defi Token) as the exchange token before the release of BGB.
Bitget KCGI
Bitget promotes an important event called KCGI (King's Cup Global Invitational). The main goal of this trading competition is to attract users worldwide and increase the platform's brand power in the derivatives segment.
Bitget Supported & Restricted Countries
Bitget is a global exchange used by traders from various countries such as the USA, Nigeria, Canada, Ghana, South Africa, and more. Nonetheless, certain countries are restricted from accessing the platform, including Singapore, Mainland China, North Korea, Hong Kong, and Macau.
Bitget Mobile App
The majority of cryptocurrency traders believe that trading on desktops provides the best trading conditions due to the larger screen size, which allows for easy navigation, access to more data, and the ability to make trading decisions simultaneously. Moreover, charts and trading history are easier to view on a larger screen. Nevertheless, not all crypto investors need desktops for trading, and many opt for mobile apps. Bitget provides a mobile app that can be downloaded on Google Play and AppStore for Android and iOS users, respectively.
Bitget Security and Privacy
Based on various reviews of Bitget, it can be concluded that the exchange offers robust customer protection measures. Bitget is licensed and regulated by the regulatory bodies of Canada, the US, and Australia. User funds are secured in separate cold and hot wallets. Additionally, according to their website, Bitget has been awarded 12 A+ scores at SSL Labs for their security measures. To transfer funds to the exchange, traders must enable two-factor authentication.
Bitget has obtained three licenses, one from The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury, one from the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), and one from the Australian Transaction Reports and Analysis Center (AUSTRAC) for its operations in the US, Canada, and Australia, respectively.
Bitget Customer Support
Bitget offers multiple channels to reach out to their customer support team. In case a user faces difficulty in understanding the trading process, Bitget provides live chat support and detailed tutorials and guidelines covering all aspects. Additionally, the website features a comprehensive FAQ section that covers fundamental queries that users may have.
For issues related to trades or other concerns, users can click on the help chat bubble located at the lower right corner of their display to contact the help desk. The customer support team is always available to answer all queries.
Bitget Review: Conclusion
The website, https://bestbonuscodeaz.com, has shared detailed and basic information about the Bitget exchange. If you have any questions or need support in making money on Bitget, you can refer to the website and leave a comment below the post.
