Bitget: 2024 crypto exchange review

Bitget exchange: overview

The Bitget exchange presents itself with a clean but certainly not unprecedented interface. On the other hand, it is now the practice of many players to set up the portal in a certain way so as to make life easier for users.

From the menu located at the top of the screen, everything or almost everything is quickly accessed. In addition, the entries are clear and not confusing. Here they are:

• Buy Crypto to buy cryptocurrencies or deposit them from an external wallet;
• Futures to trade these derivatives;
• Spot to trade crypto directly on the spot market;
• Markets, designed to analyze the performance of coins and tokens in real time;
• Copy Trading, the service that allows you to copy the operations of other traders;
• Earn, dedicated to proposals for generating income with one’s cryptocurrencies.

On the right side of the top bar, on the other hand, we find links to settings and personal area. From here we will also be able to change the mode from light to dark, another element present now like parsley!

Completing the bar, immediately to the right of the logo is a square icon; hovering over it will display other links and useful pages on the site.

Bitget is at its best when used by experienced, active traders and investors, perhaps operating via bots. Nevertheless, the excellent interface allows it to approach any type of user, including the less navigated.

Just for beginners there is the demo trading feature. A perfect way to “play” and learn without risking a single penny.

We have made the introductions. So let’s move on to the concrete by starting with the basics: how to register for Bitget.

How to register at Bitget

Registering at Bitget is super easy and everything happens in a matter of minutes…if not seconds!

Use this referral reserved for our readers and get up to $8000 in rewards based on your deposits.

To proceed, click on the link and follow the few steps. A matter of moments and you will be ready to make your first deposit. How do you do it? We will see in the next paragraph.

How to make a deposit on Bitget?

Once you have registered, we can log in and proceed with your first deposit. This can be either in cryptocurrencies or in euros.

For the traditional currency deposit by SEPA transfer, we have prepared an ad hoc tutorial. The process is simple and does not take more than a couple of minutes.

If, on the other hand, you would like to deposit crypto, here is how to proceed.

From the menu bar located at the top of the screen, click on the word Assets, located on the right. A drop-down menu will open where we will find the word Deposit: let’s click on it to access the dedicated page.

Helping us with the image placed at the end of the paragraph, let’s see what are the steps to be completed to deposit cryptocurrencies on Bitget.

In the Coin box, the first one, we select the asset to deposit. Let’s take bitcoin (BTC) as an example.

Immediately below, by clicking on Chain Name we will have to indicate which blockchain it will come from. In our case we could choose between two alternatives: bitcoin and BSC (BNB Smart Chain). Clearly, changing the coin to be deposited will also vary the proposed networks.

At this point, an address will appear in the Deposit Address area to which we should send the cryptos we wish to deposit on Bitget. Taking our example again, the bitcoins to be deposited should be sent to this address.

Having done that we will just have to wait for the credit to the Bitget account. Timelines vary depending on the coin and network selected.

As always, watch out for gas fees: we know that each blockchain charges very different transaction fees.

How to withdraw money from Bitget?

As for withdrawal, the procedure is identical to that seen in the previous paragraph.

We will just have to access from the Withdraw section and select desired asset with its destination chain.

In the Address field we will write the address of the wallet to which we want to send the funds. That’s it!

Commissions, trading fees and withdrawal on Bitget

Bitget’s commissions and fees can be accessed from this page. We recommend relying on this data as it is updated frequently.

Fees are divided into three categories: spot trading, futures trading, and withdrawal.

Bitget Fee Spot trading

The fee is 0.1% for both Maker and Taker, a figure that is already competitive and not overly impactful.

By holding BGB, Bitget’s token, costs can be reduced by 20%. However, this positive aspect comes up against a negative note, namely exposure to the asset. Thus, a careful analysis of this crypto becomes important, assessing whether the benefits in terms of fee savings outweigh the risks.

Bitget Fee Futures trading

Better commissions than most of the competition even on Futures, one of the mainstays of this exchange.

The starting fees are 0.020% Maker and 0.060% Taker. Again, BGB holders can lower the fees.

Referral with the now familiar 15% reduction also remains valid.

Bitget Withdrawal Fee

Withdrawal fees are variable depending on the coin and network involved.

These costs align with those of major competitors.

Bitget token: BGB

BGB is Bitget’s token, which is especially useful for large investors and traders to obtain fee discounts.

The maximum supply is 2 billion, 70% of which is in circulation at the time of writing. Not only that: possession also entitles one free withdrawal per day, lotteries, launchpads and more.

The critical point, of course, lies in the exposure to this asset, which is free to fluctuate in value like any other cryptocurrency.

Below is TradingView ‘s real-time chart so you can monitor the token’s performance.

How does Bitget work? Spot crypto market

Trading on the spot market buys and sells cryptocurrencies of various types. But how to buy crypto on Bitget? Let’s see right away.

From the menu, we first click on Spot and later on Spot Trading. We will have access to the restricted section.

On the right side of the screen, the order book is clearly visible, so we can follow the evolution of supply and demand in real time.

On the opposite, on the left, we can select the pair to trade on. In the image it is BTC/USDT, the default one. We will notice that the proposition is huge, hard not to find the pair we are looking for.

Instead, in the center towers the chart. There are two options proposed:

• Original, simpler and less customizable.
• TradingView (recommended and selected as main) rich in functionality.

Below is instead positioned the area from which we will actually be able to execute orders, divided into three types: Market, Limit, and Trigger.

The first two we are quite familiar with. The same goes for Triggers, effectively Stop Loss or Take Profit orders.

Whatever our trade, after setting the various parameters we will have to confirm the order using the Buy or Sell buttons.

Trading futures on Bitget

Futures are complex and potentially dangerous derivative instruments. Therefore, it is advisable to trade only if you have the right mix of experience and preparation, otherwise you run the risk of suffering even substantial losses.

In any case, beginners can cut their teeth with Bitget’s demo account-a good way to learn the basics without putting your capital at risk. We can find it under the Futures menu item (Demo Trading).

That premise having been made, let’s see what Bitget’s proposal regarding Futures consists of.

Bitget allows trading on three different Futures:

• USDT-M FUTURES, that is, perpetuals whose margin is in USDT, the stablecoin of Tether.
• USDC-M FUTURES, where the margin is in USDC, Centre’s flagship product.
• Coin-M FUTURES, perfect for strategies such as short hedging.

In the first two cases, margin is secured through a stablecoin. So we will be exposed only to changes in the price of the underlying of the future itself, nothing more.

Instead, in Coin-M FUTURES we will have one more factor to consider : in addition to the ups and downs of the futures, we will in fact have to think about those of the coin-margin.
For example: by creating a hedging short on bitcoin, both the value of the futures and the value of the margin will vary in the event of an upward or downward movement.

Whatever the choice, clicking on an entry will take us to the operations page.

The differences with the spot market are immediately noticeable. Let’s go in order.

The chart now positions itself at 2/3 starting from the left, with the history of orders placed immediately below.

Continuing to the right we first encounter the order book and then the operating area from which to open and close positions.

When setting up an order, we pay close attention to the margin mode chosen. In the operations area, we click on the top leftmost button; it may be labeled Isolated or Cross.
At this point we can choose the margin mode most in line with our needs:

• Isolated is the most conservative in that only the initial margin will be used as margin. For example, by opening a futures with 500 USDT of margin, the most we can lose will be just this amount.
• Cross instead employs all the margin in our account, depending of course on the type of futures.
  Let us imagine that we open a USDT-M futures with 500 USDT; however, let us assume that we have another 1500 USDT in the account. Regardless of the start, all of our USDT (500 + 1500) could be used as margin if things turn bad. Needless to stress how much this could impact our capital, utmost care.

Since these are derivatives, leverage trading up to 125x is available on Bitget.

Leverage is an instrument that needs even more experience and study. While it is true that gains can soar, it is equally true that leverage can drain funds if you make a mistake.

Well-designed leverage in line with our profile is undoubtedly useful. Indeed, it sometimes becomes indispensable to meet risk and return parameters.

In the Conscious Trading Course, available free of charge on our training platform, we have covered this issue extensively.

No matter what, we always keep an eye on the margin. In case we get dangerously close to the liquidation area, we act accordingly by closing the position or increasing the margin itself. Remember: liquidation should be avoided as it carries rather steep penalties; better to collect a loss than a loss plus liquidation.

Okay, now we can move on to the various types of Bitget futures orders.

Market, Limit and Trigger we have already known and nothing changes from the spot market.

What is new is Trailing Stop, an order that triggers at a certain limit we decide (e.g. , “buy BTC at $20,000” or “sell ETH at $1500”).

However, another setting is added: moving the order away from the market price by a certain percentage and then following it. Let’s look at an example so that we can better understand the concept.
We open a trailing stop long position on bitcoin; we set the shift to 5%. Bitcoin goes up and we benefit from increasing gains; the trailing stop changes continuously, following the trend of BTC, staying 5% below the market; by doing so, what has been gained so far is protected from any losses. The moment the trend breaks and reverses, after the 5% decline the position would be closed automatically.
What can I say, a perfect tool for hedging without giving up on following the trend.

After trying Bitget’s futures you can see why the exchange is so popular for these tools: comprehensive and customizable, they are among the best around.

Bitget bot trading

Let’s shift the focus to Bitget’s automated trading.

We find two types: the classic Grid Bot, which we will briefly discuss now; and Copy Trading, which we will focus on in the next section.

The Grid Bot is the most popular type of automated trading.

There are different Grid Bots, of which the most common are those specifically for bullish, bearish and sideways movements. Some are simpler, while others deploy strategies that raise risk (such as the Martingale bot).

In very simple terms, the bot builds a dense grid around the trend of the asset in question. Each threshold triggers a buy or sell order, depending on the strategy, of course. For example, a Grid Bot for sideways phases will continuously play on buy low and sell high, taking advantage of even the smallest variations.

Bitget offers the three classic types of Grid Bot, all of which are very efficient. Keep in mind, however, that profit is never guaranteed: a bot can optimize the operation to the maximum, but losses are absolutely possible.

Given the high number of executions, it is always recommended to choose an exchange with low commissions to set up automated trading strategies. Having decidedly low costs, Bitget is therefore a good choice in this regard.

On Bitget, this service is available on both spot and futures markets. The choice is personal but remember that liquidity is always greater on the latter.

Let us now turn to Copy Trading, another interesting feature suitable for everyone.

Bitget copy trading

As the name suggests, through copy trading we can copy pari-pari the operations of other traders registered on the exchange.

By accessing the dedicated area ( Copy Trading link on the menu bar) the list of potential “mentors” appears.

We will be able to view the overall performance right away; clicking on a specific character, here we have access to more comprehensive data.

Each trader has a limited follower slot. If the number of slots is exhausted we will necessarily have to look for an alternative, perhaps by putting ourselves on a waiting list. Successful traders are highly tokenized and it is difficult to be able to follow them right away; some patience is needed.

Copy trading is a good method of not giving up even when you do not have the time or the right knowledge. However, at the same time you act by following someone else, thus giving up having control and awareness of our actions.

Do we recommend copy trading? Definitely but under two conditions:

• Choosing the right trader to copy; he or she should have long experience in the field, so as to protect us as much as possible from those who are just having a lucky period.
• By continuing with the study and refinement of our knowledge. Copy trading is in fact something more, not an alternative to personal trading.

Earn and passive income on Bitget

Like any self-respecting crypto exchange, Bitget offers several methods to annuitize your cryptocurrencies.

Let’s start with Savings: we deposit coins and tokens on which we want to earn interest and receive a certain annual percentage in return.

Flexible or locked for limited periods, Savings are quite safe and profitable.

Moving on, BGB holders can put it to income in the dedicated area (Menu -> Earn -> BGB Earn).

Let us not be enticed by APYs and invest only if the token is of real interest to us.

Those who want to turn capital on new and up-and-coming projects will find what they are looking for in the Launchpads. It changes the exchange but not the substance: it is an almost identical product to the famous Binance Launchpads.

Finally, the Launchpools, where you pour in one crypto to earn another. Again, the product is similar to the exchange designed by our friend CZ.

In conclusion, most users will be attracted mostly to the Savings section. However, let’s take a look at the rest as well: there is no shortage of opportunities, but always put risk assessment in front of everything.

Bitget 2024

The Bitget exchange continues to improve and offer new products to its customers in the highly competitive crypto exchange environment.

Especially, Q1 of 2024 was a period that will be remembered for a long time: doubled volumes and huge growth of the BGB token.

Also growing are customers (about 25 million worldwide) and market share, which exceeds 12 percent.

With all due caution that must always be reserved for CeFi entities, Bitget is certainly one of the best around, regardless of its operations.

Bitget: a very comprehensive crypto exchange

After exploring and testing it, we can say that Bitget is a very complete exchange.

The proposal is broad and in line with the needs of both investors and traders. The fees are lower than many competitors, which is another plus point.