Introduction: Looking to dive into the world of cryptocurrency trading but not sure where to start? With so many exchanges out there, it can be overwhelming to know which one to choose. Enter Bitget, in this review, we'll take a deep dive into Bitget's features, trading fees, deposit methods and more to help you decide if this exchange is the right fit for your cryptocurrency trading needs. So sit back, grab a cup of coffee, and let's explore Bitget together!
Bitget is a cryptocurrency exchange that was founded in 2018 and is registered in Seychelles. With over 1000 employees, it is available in 100 countries and is a popular choice for primarily Asian traders looking for a versatile platform to trade cryptocurrencies.
Bitget Exchange
The platform is licensed by FinCEN and MSB in the US and Canada and MAS in Singapore, making it a trustworthy and transparent exchange. Bitget has over 8 million users and is a top 5 derivatives platform by trading volume.
Bitget License & Compliance
The platform offers 450 cryptocurrencies for trading, providing a wide range of options for traders to choose from. The platform also offers a number of advanced trading tools, including leverage trading, which can be attractive to experienced traders.
Bitget App
Bitget KYC Requirements
Bitget is a cryptocurrency exchange that requires KYC verification for all users who want to buy crypto with fiat or deposit fiat. However, crypto to crypto trading is possible without KYC which is a great for those who value their privacy.
Bitget signup process
The signup process is quick and easy as users only need to enter their email and password and add the verification code sent to their email.
The KYC verification process on Bitget typically takes around 10 minutes but can take up to 48 hours due to the complexity of information verification.
This is a reasonable timeframe considering the security measures that need to be taken to protect users' personal and financial information.
Once verified, users can enjoy full access to the exchange's features, including spot and futures trading.
Bitget Products & Services
Bitget is a cryptocurrency trading platform that offers a range of services including spot, futures, margin, copy trading and proof of reserves.
The platform offers up to 125X leverage in both cross and isolated positions, with 3X for cross margin and 10X for isolated margin. This allows traders to take advantage of market opportunities and maximize their profits.
Bitget futures trading
With a 24-hour spot trading volume of $550 million, Bitget is a popular platform among traders.
The user experience on Bitget is quite nice and offers a clean interface without overwhelming the user. The website is similar to other popular platforms such as Bybit, Kucoin and OKX.
In addition to trading services, Bitget offers staking, earn products and trading bots. These additional features provide users with more ways to earn passive income and automate their trading strategies.
The platform also offers copy trading, allowing users to follow successful traders and replicate their trades. Overall, Bitget is a solid platform for traders looking to access a range of trading services and additional features.
If you're looking for a cryptocurrency exchange with low trading fees, Bitget might be the perfect choice for you. Bitget charges a 0.1% spot maker fee and a 0.1% spot taker fee, making them one of the more affordable options on the market.
Bitget spot fees
And for users that trading using Bitget's GBG token, they will receive an additional 20% discount on their spot trading fees.
When it comes to futures trading, Bitget also offers competitive fees. They charge a 0.02% maker fee and a 0.06% taker fee, which is in line with other exchanges like Bitget vs Binance, Bitget vs Kucoin and Bitget vs Bybit.
Additionally, Bitget offers margin trading with a 0.02% fee for opening a position and a 0.06% fee for closing it. This makes them a great choice for traders who want to take advantage of leverage.
Compared to many other exchanges, Bitget's fees are on the lower side so If you're looking for an exchange with low cost trading fees, Bitget is definitely worth checking out.
While fiat deposits are not currently available on Bitget, users can still purchase cryptocurrencies using credit or debit cards with a commission fee ranging from 1-3%.
Bitget supports over 40 fiat currencies for buying crypto with a credit or debit card, making it a convenient option for plenty of users around the world.
Compared to other exchanges, Bitget's deposit methods are imited without fiat deposit options.
However, its support for a wide range of fiat currencies for buying crypto with a credit or debit card makes up for this limitation. Bitget's commission fee for card purchases is also relatively low compared to other exchanges.
Other exchanges like Binance and Kraken offer a variety of fiat deposit options that in many cases are free of charge.
For users who are looking for more cost-effective fiat deposit options, these exchanges have a clear advantage.
How to withdraw from Bitget?
Unfortunately, Bitget does not currently offer any fiat withdrawal options. Users can of course withdraw their cryptocurrencies from the platform with fees differing depending on which coins are withdrawn. For example, Bitget charges 3 USDT for ERC-20 USDT withdrawals and 0.0005 BTC for Bitcoin withdrawals.
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Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
