Reviews
02
Aug
bitget review

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Bitget review

Bitget is a cryptocurrency exchange founded in 2018. Opening a Bitget account is a straightforward process. You can deposit cryptocurrencies into Bitget without an account verification (KYC).

There are 450 different cryptocurrencies in Bitget’s selection. Bitget fees are 0.1 percent in spot trading and just 0.08 percent when paying fees with the BGB token. You can quickly transfer cryptocurrencies from the exchange to your wallet.

In addition to crypto trading, Bitget offers Earn, CopyTrader, and Launchpad features. The security of the Bitget account can be improved with facial recognition and two-step authentication. Bitget does not automatically send information about trades to the tax authorities. Our team has had Bitget experiences since 2023.

We recommend the Bitget exchange for active and professional traders.

General information about Bitget

Bitget is a cryptocurrency exchange founded in 2018.  Bitget headquarters are located in Singapore, and the company has 800 employees globally in 40 different countries. Bitget has more than eight million registered customers.

Although Bitget has been on the market for more than four years, it is quite an unknown exchange in Scandinavia. Bitget’s global popularity started to rise in 2022. Bitget is among the top 5 derivatives exchanges based on its trading volume and general status. Bitget competitors include Binance, ByBit, KuCoin, and Deribit.

Bitget’s popularity has been influenced by its good reputation as a safe exchange. Bitget was one of the first cryptocurrency exchanges on the market to offer Proof of Reserves for its customer assets. In addition, Bitget has a separate $300 million Protection Fund.

Bitget is also the official partner of the soccer legend Lionel Messi and the Serie A team Juventus.

bitget messi

The exchange also has its own token called the Bitget Token (BGB). Bitget Token has seen its market cap grow several hundred of percent in 2023. You will get a discount on trading fees by holding the token. There is also yield paid for BGB holders with other benefits and bonuses.

Bitget is best suited for active traders who want low fees, crypto futures, and a wide selection of altcoins. The company’s slogan is “Better Trading – Better Life”.

Bitget registration

Opening a Bitget account is a straightforward process. Start the registration process by clicking on the link below.

Click here to open a Bitget account

The link takes you directly to the registration form, shown in the picture below.

bitget registration

You only need to enter your email address and password. After that, accept the terms of use of the service and click the Create Account button.

You will receive an email confirmation of successful registration. Bitget does not require going through the KYC process upon registration. Hence, you can use the service anonymously up to a certain limit.

Bitget has its mobile app in both the Google and Apple stores. If you use the exchange on a mobile device, you should install it.

How to deposit on Bitget

You can deposit cryptocurrencies into Bitget without an account verification (KYC). Euros can also be deposited as a SEPA transfer, but you must complete the KYC process before this is possible.  You can also buy cryptocurrency directly to your account with a debit card.

Before depositing, Bitget asks to activate two-factor authentication (2FA). This is done similarly to other exchanges, meaning you need the Google Authenticator app. We recommend activating 2FA in all online services where it is possible.

Bitget is especially suitable for active traders who want to deposit, e.g., bitcoins or stablecoins into the platform. The deposit is made by clicking Assets in the main menu of the mobile application.

bitget deposit

Next, choose the cryptocurrency you wish to deposit and transfer from your wallet to the address shown on the screen.

Please note that more and more cryptocurrencies are circulating in different networks. This applies especially to stablecoins. Make sure that you choose the right network when making transactions. Otherwise, your deposit may be lost.

After depositing, you should click on the user icon (upper left corner) from the Home view of the mobile app. Scroll down the user settings page and select Rewards Center. On this page, you will find instructions on how to earn up to $5005 worth of bonus money! You get bonuses when completing tasks such as the first deposit, trade, etc.

Buying and selling crypto at Bitget

There are 450 different cryptocurrencies in Bitget’s selection. Bitget has a larger altcoin selection than the market leader, Binance. In addition to spot trading, Bitget offers more than 100 crypto futures markets.

Since Bitget is an exchange aimed at active traders, it only offers a handful of spot pairs with fiat currencies. This is not surprising as cryptos trading mostly occurs with USDT pairs. If you want to buy the five most popular cryptocurrencies with euros, Bitget is not necessarily the exchange.

Click “Markets from the mobile app’s main menu to find your desired exchange pair. The image below shows the XRP/USDT trading page.

bitget trade

You can find all the typical features of a modern crypto exchange at Bitget. The exchange view has TradingView tools included for technical analysis. You can set price alerts, do Limit Order trading and trade with leverage.

The best liquidity of the spot market is with USDT, USDC, and BTC exchange pairs. All the most popular cryptocurrencies can also be found on the futures market.

Bitget fees

Bitget fees are 0.1 percent in spot trading and just 0.08 percent when paying fees with the BGB token. An active trader should, therefore, hold the exchange’s own Bitget token (BGB). A twenty percent discount on expenses is a big saving in the long run.

Spot trade fees are the same for all trading pairs. Maker and Taker fees are also the same. You can see all trading fees in the table below.

TradingType of feesFees
Spot Trading Default fees 0.1 %
Spot Trading Paying fees w/ BGB 0.08 %
Futures Maker fee 0.02 %
Futures Taker fee 0.06 %

The fees are much lower in futures trading compared to spot trading. However, there is no discount on the fees, even if you pay them with the BGB token.

Bitget does not charge fees for registration or deposits. If you withdraw cryptos from the exchange to your wallet, the withdrawal fees depend on the crypto and network congestion. You will see the up-to-date withdrawal fees when withdrawing.

Withdrawing cryptocurrencies to your wallet

You can quickly transfer cryptocurrencies from the exchange to your wallet. Click “Assets” from the mobile app’s main menu and choose “Withdraw”. Next, choose the coin you wish to transfer. The image below shows what the Bitcoin withdrawal page looks like.

bitget wd

Be careful when choosing the network you withdraw to. For example, bitcoins can be withdrawn from Bitget as a BEP20 token to the Binance Smart Chain network. Many coins can be withdrawn to 5+ different networks. Also, note the minimum withdrawal amount for each cryptocurrency.

The duration of the withdrawal depends on the cryptocurrency used and network congestion. Bitget usually processes withdrawals very quickly.

If the KYC process has not been completed, it is possible to withdraw $50,000 per day and $100,000 per month from Bitget. These limits are sufficient for small investors.

Bitget Earn, Copy Trading, and Launchpad

In addition to crypto trading, Bitget offers Earn, Copy Trading, and Launchpad features.’

Bitget Earn offers interest-bearing accounts for well-known cryptocurrencies. Interest rates are typically a couple of percent, but it is also possible to get a 5-10 percent return for small deposits. Bitget also pays a six percent annual interest on its own BGB token.

Copy Trading is a feature where you can automatically follow other Bitget traders.

bitget copytrader

With Copy Trading, you can copy 1:1 the trades of the user you follow and get the same profit. Copy Trading can only be used after completing account verification (KYC). Bitget claims to be the largest cryptocurrency Copy Trading service on the market!

Launchpad offers the opportunity to invest in the latest projects before they enter the market and become aware of the general public. You need Bitget tokens for Launchpad investments.

Bitget security

The security of the Bitget account can be improved with facial recognition and two-step authentication. Facial recognition is an excellent safety-enhancing factor in a mobile app. Of course, using it requires a sufficiently new smartphone.

You can adjust the security settings of your Bitget account by clicking on the user icon (upper left corner) from the Home view of the mobile app. After that, select Security.

security

There are typical options to improve security. You can set separate anti-phishing and fund codes for your account, providing additional withdrawal protection. It is a good idea to enable two-step authentication even before making a deposit.

You can also add your phone number, which enables various alerts and confirmations, e.g., upon login.

Bitget and taxes

Bitget does not automatically send information about trades to the tax authorities. Each user must calculate taxes and report possible capital gains for the local tax authority.

We recommend Divly tax software for active crypto investors. It also supports the trade reports generated by Bitget. Use the code BITCOINKESKUS23 when ordering to get a 15% discount!

divly

You can find the trade history of Bitget in the desktop browser version. Click “Assets” in the main menu and select “Transaction History”. Select the desired time period and click Export Data. In addition to trades, you can also export data on deposits and withdrawals.

Our Bitget experiences

Our team has had Bitget experiences since 2023. Of course, Bitget has been on the market for more than four years, but it has been fairly unknown before 2022. We first discovered Bitget at the end of 2022, and the exchange has looked like a very interesting platform.

Bitget is a clear competitor to ByBit and KuCoin. All three exchanges allow crypto trading without completing a KYC process. They offer many altcoins and futures and are best suited for active traders.

Bitget’s user interface is pleasant both in the mobile app and browser. Everything works as it should, and there is nothing negative about the user experience. Below are pictures of the Bitget mobile app from the Google Play store.

bitget mobile app

Bitget is also the main partner of many significant crypto YouTube channels.

Do you have Bitget experience from a longer period? Share your experiences and help make the article more useful for new readers!

An overview of the Bitget review

We recommend the Bitget exchange for active and professional traders. Its popularity has skyrocketed in 2022, and no wonder. A good reputation and a wide range of trading pairs combined with Proof of Reserves have convinced many traders.

Bitget is not an exchange for beginners who want an easy fiat on-ramp and buy the five most popular cryptos. Domestic alternatives and exchanges like Coinbase are more suitable for this purpose. Bitget is popular with industry professionals and active traders.

Is Bitget a better option for traders than, e.g., Binance or ByBit? This depends on individual needs. The appearance of the website and mobile app also features that everyone has their personal preference for.

If you are an active trader and want a change or new features, you should check out Bitget! Opening an account takes about a minute and costs nothing.

Check out Bitget now!

Twitter users should use the account @bitgetglobal to follow. Bitget has its own YouTube channel, Telegram, Discord, and social media accounts. You can find these links at the bottom of Bitget’s website.

AboutBitcoin Team

Hey! We're the AboutBitcoin squad, a team of crypto lovers who've been all about cryptocurrency since 2017. Every week, we drop the latest news and cool insights from the crypto world. Come hang with us as we dive into the crazy, ever-changing scene of cryptocurrencies – it's gonna be an awesome adventure!