Bitget makes a difference in the rapidly growing world of cryptocurrency trading. It has an easy-to-use interface, strong security, and more trading options. These attributes make it the preferred choice for both new and experienced traders.
I'm David Wabinz, CEO and founder of DavidWabinz.com.
In this Bitget review, I will show you the features of the 2024 platform. It includes supported cryptocurrencies and trading functionality. It also includes services, fees, and payment methods. Most importantly, it includes its reputation and security.
Continue reading to learn how Bitget can improve your trading experience and why it is highly rated by crypto enthusiasts.
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What is Bitget?
Bitget is a crypto trading platform. It was founded in Singapore in 2018. It holds a license from the Monetary Authority of Singapore (MAS). It operates in several countries, including Japan, Korea, Vietnam, and the US.
Bitget is known for its crypto margin trading. It allows users to buy, trade, store, and earn digital assets, such as Bitcoin and Ethereum. The platform offers many services. These include copy trading, futures trading, spot trading, and margin trading.
Bitget has more than 2 million registered users globally, and a daily transaction volume of $5.6 billion. In January 2022, Bitget's Coin-Margin futures product helped it rank third in the world. It had the third-highest trading volume. Volume peaked at $7.82 billion.
Bitget offers low fees for spot and derivatives trading. But, it mainly focuses on derivatives. Derivatives are financial instruments. They are linked to the value of assets like bonds or stocks. Traders from the USA, Canada, Australia, and Singapore can legally trade on Bitget. This is thanks to the platform's licenses in these countries.
Is Bitget Regulated?
In 2024, Bitget is indeed a regulated cryptocurrency exchange. Its legitimacy is supported by its strict regulation and licenses from several countries. These include Canada, Australia, and the United States. These licenses require Bitget to follow strict regulations. They keep its users' funds and data safe.
Also, Bitget uses a valid HTTPS connection. It secures the communication between users and the website. This prevents unauthorized access and ensures data integrity. This security measure is coupled with Bitget's high traffic and recognition. It is seen as one of the top cryptocurrency exchanges. This measure shows its commitment to providing a reliable and secure trading environment.
Users can trade on Bitget with confidence. The platform operates under tough regulations and has strong security to protect their interests.
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. Still, certain countries are restricted from the platform. They include Singapore, Mainland China, North Korea, Hong Kong, and Macau.
Bitget Pros and Cons
Evaluating the pros and cons 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 uses perpetual futures contracts.
Leverage refers to investing more than the user has in the bank. 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've deposited. Even a tiny move against the user's Bitget account can trigger liquidation. This causes them to lose access to their funds.
Bitget Features
Bitget is a reputable platform, it is known for its innovative trading features. They allow users to trade without converting tokens. Its features include One-Click Copy Trading and USDC Margin Trading Support. It is a 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. It uses a unique trading pair system and has special derivative products. It ranks among the top six crypto exchanges by trading volume. Bitget has licenses from Canada, Australia, and the United States. These licenses adhere to strict rules. It is listed on CoinGecko and CMC.
In 2024, Bitget will update its platform with new features to enhance the trading experience for its users. Here are the specifics:
- Advanced AI Trading Tools: Bitget will introduce AI-driven trading tools. They analyze market trends and predict price movements accurately. The tools help traders make better decisions and may increase their profits.
- Enhanced Copy Trading Features: Expanding on its popular One-Click Copy Trading, Bitget will add advanced filtering options. These will enable users to find and follow traders based on criteria such as trading strategies, past performance, and risk levels.
- Expanded USDC Margin Trading: Bitget plans to expand its USDC Margin Trading support. It will include more cryptocurrencies. This will let traders use their USDC to trade in more markets.
- New Derivative Products: Bitget will introduce new, creative derivatives. They will provide more chances to trade and use strategies. This includes options trading and futures contracts with flexible terms.
- Improved Security Measures: Bitget will upgrade its security infrastructure with cutting-edge technologies. This will involve high-level encryption. It will also use multi-signature wallets and AI-driven fraud detection. These measures will better protect user assets and data.
- User Experience Enhancements: The platform's user interface will be overhauled to offer a more intuitive and seamless trading experience. This includes faster load times, a more responsive design, and customizable dashboards.
- Regulatory Compliance Updates: Bitget will keep following tough rules. It will get more licenses in new places. This will expand its global presence while making sure it obeys local laws.
- Integration with Decentralized Finance (DeFi): Bitget will connect with popular DeFi platforms. This will let users access DeFi services from the Bitget interface. This will include staking, lending, and yield farming opportunities.
- Education and Training Resources: Bitget will launch a portal to inform users and improve their trading skills. It will have webinars, tutorials, market analysis, and expert insights.
- Mobile App Enhancements: The Bitget mobile app will get big updates. They will include new features and faster performance. The app will also have a more user-friendly interface. These changes will ensure smooth trading on mobile.
As a long-time trader, I highly recommend Bitget because it meets the needs of users in the rapidly changing cryptocurrency market. Updates keep Bitget competitive. Bitget will also maintain the best security and regulatory standards.
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Bitget Services
Bitget offers many services. They help both new and experienced traders make more profits while trading. They include Futures Trading, Leverage Trading, Copy Trading, Quanto Swap Contract, Derivatives Trading, Perpetual Contracts, Bitget Launchpad, and API Trading.
Futures Trading
Bitget offers many futures trading options. These include USDT-M Futures, USDT-M Demo, Coin-M Futures, and Coin-M Futures Demo. Futures trading means a user commits to buy or sell a crypto asset. They do this to another trader at a set 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. It's called Coin-Margined Futures. It supports many currencies to be used as margins for different trading pairs. For instance, users can use ETH as a margin to trade BTC/USD, ETH/USD, and EOS/USD and their profit or loss will be calculated in ETH.
Bitget's futures trading volume reached $1.4 trillion in the first quarter of 2024. This was a 146% increase. It made Bitget the third-largest derivatives trading platform by volume.
In 2024, Bitget has made many updates to its Futures Trading platform. These updates improve user experience and trading capabilities. Here are the key updates:
- Bitget now lets users customize their copy trading leverage and margin modes. This includes options to follow elite traders' leverage settings. Traders can set a fixed leverage. Or, they can customize leverage for specific trading pairs. Margin modes such as isolated and cross-margin can also be tailored to individual trading strategies.
- Bitget has upgraded its futures elite trading features. It added one-way mode, partial close, limit close, reverse order, and flash close options. Also, there are new tools for trailing take profit and stop loss (TP/SL). They also support batch TP/SL and maximum margin reduction (MMR) TP/SL. They enhance trade flexibility and control.
- Bitget supports third-party trading tools. It has integrated popular ones like 3Commas, Tealstreet, and CCTX. This lets users use many trading strategies. They can use them more easily and efficiently.
- Introducing IO/USDT Futures Trading. A new IO/USDT futures pair has started. It has a maximum 50x leverage. This addition expands the range of assets available for futures trading on the platform.
- Bitget has improved its PnL calculation for copy trading. It now provides a more accurate and clear view of performance. This includes detailed calculations for unrealized and realized PnL. They help traders track their profits better.
Leverage Trading
In 2024, Bitget continues to enhance its leveraged trading features, maintaining up to 100x leverage for the future in perpetuity. New risk management tools like customizable stop loss and take profit orders help manage risk. The user interface will be improved for easier leverage adjustments, and AI-powered risk analysis tools will provide real-time trading insights. Bitget will provide comprehensive educational resources, including tutorials and webinars on leveraged trading strategies. Advanced security measures, such as multi-signature wallets and AI-driven fraud detection, will be implemented. Integration with third-party trading tools such as 3Commas and Tealstreet will enable the implementation of complex strategies. Bitget remains committed to regulatory compliance, continuous platform improvements, and user feedback, ensuring a secure and enhanced trading experience.
Copy Trading
Copy trading is an easy-to-follow trading strategy on Bitget. Once registered, users can browse professional traders. They can examine the traders' trade history. They can then select a trader whom they believe can generate profit and start copy trading. In copy trading, you copy the strategy of an experienced trader. This boosts your profits.
Bitget's copy trading includes three types of products: futures copy trading, spot copy trading, and bot copy trading.
- Futures copy trading lets you copy the futures orders of top traders. It lets you profit from cryptocurrency price movements. You can personalize your settings, including leverage, position size, stop loss, and take profit.
- Spot copy trading allows you to automatically mirror the spot trades of expert traders.
- With bot copy trading, you can subscribe to a strategist. Or, you can buy a trading bot to automate your trades. You can select from a variety of strategies and bots based on their performance, trading history, popularity, and cost.
Before using copy trading on Bitget, you must review the profiles of the traders on the platform. Take the time to analyze their trading history. Look at their win/loss ratio and their overall expertise in crypto trading. The trader you select must make informed decisions based on knowledge rather than luck.
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.
Quanto Swap Contract
Bitget exclusively offers Quantum Swaps as a distinctive feature. This feature lets users use their crypto assets as collateral. Then, they can use the collateral to make margin trades with different trading pairs. The main benefit of Quantum Swaps is that it can retain your exchange fees on coin-to-coin. It also lets you profit from the rising price of the margin coin. This is a very nice utility on Bitget that other exchanges do not have.
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
Derivatives are contracts that get their value from an underlying asset. The asset can be stocks, currencies, exchange rates, commodities, or similar things. Trading in derivatives involves buying and selling these contracts in the stock market. Profits come from forecasting future price movements.
In 2024, Bitget has made many updates to its derivatives trading platform. They improved their offerings and the user experience.
- Smart Copy Mode is a new feature. It lets users have separate accounts for copy trading and general trading. This segregation enhances asset protection. It ensures that losses in one account do not affect the other.
- Bitget has been actively expanding its product offerings. They introduced new derivative products. These include options trading and futures contracts. The contracts have flexible terms and cater to diverse trading strategies.
- The King's Cup Global Invitational (KCGI) is in 2024. Bitget launched this big trading contest. It offers prizes like a Ferrari, luxury watches, and stuff signed by Lionel Messi. The event aims to engage traders with daily profit challenges and a dynamic trading competition.
- Bitget prioritizes user protection. It does this with its Protection Fund and Proof of Reserves system. They ensure transparency and security for user assets.
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 can buy and hold for the long term. They can also short-sell digital currencies. Perpetual contracts operate similarly to margin-based spot trading. Perpetual contracts on Bitget have a notable aspect, it is the funding cost mechanism. It guarantees close tracking of the contract's price index.
In 2024, Bitget introduced many updates to its Perpetual Contracts trading. They improve the user experience and provide better tools for traders.
- Bitget has introduced new margin requirements. These include available margin and risk margin. They protect traders better from unwanted scenarios. The margin is the equity for new trades. The risk margin helps traders manage obligations. It does this by offsetting opposite positions.
- Bitget maintains competitive trading fees for its perpetual contracts. The maker fee is set at 0.02%, and the taker fee is at 0.06%. Also, the fee mechanism ensures that perpetual futures contract prices stay close to the index prices. They adjust every eight hours.
- Liquidity and Automation: The Bitget exchange ranks third globally in liquidity. It has an average daily trading volume of $10 billion. This high liquidity ensures a seamless trading experience. Bitget also supports automated trading. It does this through features like limit orders, trigger orders, stop loss, and take profit. These features are enhanced by partnerships for automated bot trading.
- Bitget continues to focus on security. It does this with initiatives like Proof of Reserves (PoR) and a strong Protection Fund. The fund was worth $612 million as of March 2024. The platform also follows strict regulations in many places. These include the U.S., Canada, and Australia.
- New Trading Tools: Quanto Swap Contracts let users trade using crypto as collateral. They can do this without converting the crypto into other currencies. This feature helps users retain value and profits from the higher valuation of their crypto assets.
The updates keep Bitget competitive and secure. They are for trading perpetual contracts. They cater to the needs of new and experienced traders.
Bitget Launchpad
Bitget launched its Launchpad on February 16, 2023. It introduced a new platform that rewards users with tokens from featured projects. These tokens can be acquired by holding or trading various crypto assets.
A significant project that debuted on the Bitget Launchpad is PandaFarm (BBO), which began its token sale on the launch date. This project allows users to buy BBO tokens by holding and investing in Bitget's native token, BGB.
The Bitget Launchpad has a subscription-based IEO model. Users must hold BGB tokens to earn lottery tickets for participation. This method ensures a safe and legal environment. It does this through KYC verification. This process fosters high-quality project investments.
In 2024, Bitget has made many updates to its Launchpad. These updates improve user experience and expand investment opportunities. Here are the key updates:
- To manage risks, Bitget has implemented an individual cap system. This ensures that when users exceed their token limit, the excess is redistributed. It goes to other participants who have not yet reached their cap. This change aims to promote fairer distribution among users.
- Bitget focuses on Web3 and DeFi projects. It prioritized projects that help the Web3 and DeFi ecosystems. This focus is strategic. It fits with broader market trends and user interest in new financial products.
- Token listings on Bitget's spot market have increased. Over 20 new listings were reported in a single month. This expansion supports the broader availability of investment options for users.
API Trading
Through the Bitget API users with profitable trading strategies and significant trading volumes are invited to take part in long-term market-making projects. To start using the API, users must log in to the website, register for the API, and complete permission configuration. Once completed, users can start trading using the API.
The API provides these capabilities. It can get market data. It can place and cancel orders. It can move funds between Bitget accounts. It can take assets out of Bitget accounts. It can do this from whitelisted IP addresses.
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Bitget Fees
When users use Bitget, they are subject to two types of fees: Trading Fees and Withdrawal Fees.
Bitget Trading Fees
In 2024, Bitget updated its transaction fee structure across its trading offerings:
Spot Trades:
- Both takers and makers currently pay a fee of 0.20% per transaction on spot trades.
- There's an option to reduce this fee to 0.14% if users opt to pay with Bitget's native token, Bitget DeFi Token (BFT).
Options Contracts:
- For options contracts, the transaction fee for buyers is currently set at 0.06%.
- There's a potential discount available, reducing this fee to 0.04% under certain conditions.
Referral Program:
- Users who register through the Bitget referral link receive a 30% discount on transactions.
- Special market makers receive a 0.02% reduction in fees.
Users must stay updated with Bitget's official announcements and platform updates. Changes to these fees in 2024 may occur based on market conditions or operational decisions.
Bitget Withdrawal Fees
Bitget has made several updates to its withdrawal fee structure to stay competitive in the crypto exchange market. The current withdrawal fee is 0.05% of the withdrawal amount, equivalent to approximately 0.0005 BTC for each 1 BTC withdrawal.
Bitget add a tiered fee structure. It would be based on trading volume or user loyalty status. For example, traders with higher trading volumes may benefit. So many long-time users. They benefit from reduced withdrawal fees.
Also, Bitget gives more incentives for users. They get them if they pay withdrawal fees with Bitget's native token (Bitget DeFi Token, BFT). This is similar to trading fee discounts. This could lead to lower withdrawal fee rates for those using BFT.
These updates bring Bitget closer to industry standards. They also improve user satisfaction by adding more flexible and cheap withdrawal options. Regularly reviewing and adjusting fee structures is essential. This must be done in response to market conditions and user feedback.
Bitget Payment Methods
Deposit Methods
Buying and selling crypto on Bitget is easy. However, depositing fiat is limited to wire transfers. You cannot use credit or debit cards.
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 rate withdrawals as a simple process on Bitget. When users open the withdrawal window, they can enter the withdrawal amount and required info. 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. This limit also applies to 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, a cryptocurrency exchange platform, supports many different cryptocurrencies. Based on the information provided, supported cryptocurrencies include:
- Yield Guild Game Token (YGG)
- Yearn Financial Token (YFI)
- Uniswap Token (UNI)
- TRON (TRX)
- Tezos (XTZ)
- Tether (USDT)
- SushiSwap Token (SUSHI)
- Ripple (XRP)
- Polkadot Coin (DOT)
- Litecoin (LTC)
- KNCL Token
- Filecoin (FIL)
- Ethereum (ETH)
- EOS Token (EOS)
- Coin ChainLink (LINK)
- Cardano Coin (ADA)
- Bitcoin Cash (BCH)
- Adventure Gold Coin (AGLD)
- Bitcoin (BTC) (assuming Bitcoin is also supported as it is a staple on most exchanges)
In 2024, Bitget will expand the range of supported cryptocurrencies. They may add more emerging tokens and stablecoins. This will serve user needs and the growing market.
Bitget (BGB) Token Details
BGB is the official token of Bitget and has multiple use cases within its ecosystem. Because it is an ERC-20 token, BGB is mainly used for fee deductions and contract margins in contract trading. It also rewards traders in Bitget’s “Trade-to-Earn” program. Also, BGB offers an up to 20% discount on trading fees for Bitget traders. It can be used as a margin in “coin-margined futures” with a 15% discount on charges.
Using BGB can also get partnerships and grow the platform. It helps the platform grow. Initially, Bitget used BFT (Bitget Defi Token) as the exchange token before the release of BGB.
Bitget KCGI
Bitget KCGI is short for “King's Cup Global Invitational”. It is a global trading competition organized by the cryptocurrency exchange Bitget. The event is for traders from around the world. It gives them a platform to show their trading skills and compete for big prizes. You can learn more on Bitget's official website after you have registered a trading account.
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 is from The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury. Another is from the Financial Transactions and Reports Analysis Center of Canada (FINTRAC). The third is from the Australian Transaction Reports and Analysis Center (AUSTRAC). These licenses are 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. If a user has trouble understanding trading, Bitget provides live chat support. It also offers detailed tutorials and guidelines for all aspects. Also, the website has a detailed FAQ section. It covers basic user questions.
To get help with trades or other issues, users can click the help chat bubble. It's at the lower right of their screen and connects them to the help desk. The customer support team is always available to answer all queries.
Bitget Mobile App
Bitget provides a mobile app available for download on Google Play and the AppStore for Android and iOS users.
However, based on my extensive trading experience, I advise trading on a computer for optimal conditions. A bigger screen makes it easier to navigate. It gives access to more data and allows simultaneous trading. Additionally, charts and trading history are more comprehensible on larger screens.
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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”.
Register by phone number:
- Enter your phone number, set a password, and confirm the password.
- Agree to the Terms of Use.
- Wait for the SMS verification code.
- Complete the registration process.
Register by email:
- Enter your email address, set a password, and confirm the password.
- Agree to the Terms of Use.
- Wait for the email verification code.
- Complete the registration process.
Bitget Affiliate Program
Bitget offers an affiliate marketing program to expand user reach. Affiliates get referral links and marketing materials. They use these to attract new active traders to the platform.
Affiliate program for verified customers. You can find details about referrals and payments in the user account.
Bitget affiliates can withdraw their earnings. They can also enjoy special offers and get professional help at any time. They can also receive corporate gifts.
Conclusion
In summary, Bitget is a reliable and reputable cryptocurrency exchange. In 2024, it has enhanced its platform to provide an optimal user experience. If you are interested in cryptocurrency trading, Bitget is essential to consider. This platform allows you to trade futures, mimic other traders' strategies, engage in spot trading, and utilize the smart bot to manage your portfolio.
FAQs
Can I use Bitget in the USA?
Similar to numerous other platforms, Bitget facilitates rapid and secure transactions, granting access to users globally, including those in the United States.
Is Bitget a safe platform?
Bitget, founded in 2018, is a well-respected cryptocurrency exchange. It ranks among the top 15 crypto exchanges based on trading volume on CoinGecko. Renowned for its derivatives trading and copy trading services, Bitget attracts both seasoned and novice traders alike.
Which country owns Bitget?
Regarding Bitget, it operates a native cryptocurrency token called Bitgert or BRISE, which is traded on various crypto exchanges. Established in 2018, the company is headquartered in Seychelles.
What is Bitget used for?
Bitget stands as one of the largest derivatives exchanges based on trading volume. Moreover, Bitget functions as a comprehensive exchange platform, allowing users to purchase cryptocurrency with fiat currency or engage in spot market trading. For derivatives traders, Bitget offers the opportunity to trade futures on margin with considerable leverage or utilize trading bots.
What is the minimum deposit for Bitget copy trading?
The minimum investment threshold of 50 USDT in Bitget copy trading serves two main objectives: enhancing the success rate in following orders and enabling followers to achieve larger returns.
Is Bitget copy trading legit?
Yes. Bitget copy trading is a reputable platform featuring over 100,000 Elite traders whom you can follow for copy trades.
What are Bitget fees?
Bitget offers competitive trading fees, with maker and taker fees for spot trading set at 0.1%, while maker fees for futures trading are 0.02% and taker fees are 0.06%. Furthermore, users can avail themselves of a 20% fee discount by utilizing Bitget's native token, BGB, for payments. The article also addresses deposit and withdrawal fees associated with Bitget.
Is the Bitget app safe?
In general, Bitget maintains a commendable level of security measures to safeguard user funds. Nonetheless, users must implement their precautions, including creating robust passwords, enabling two-factor authentication (2FA), and refraining from sharing login credentials or private keys.