Bitget Exchange Review: The Leading Copy Trading Platform

Table of Contents

• About Bitget 
• Services
• Spot Trading
• Futures Trading
• Copy Trading
• Bitget Launchpad
• Bitget Fee Structure
• KYC and Account Verification
• Security Measures
• Proof of Reserves
• Bitget Protection Fund
• Cryptoasset Available on Bitget
• Deposits and Withdrawals
• Bitget Token ($BGB)
• Overall Impressions

Bitget is the world’s largest crypto copy trading platform, serving 20 million registered users across the globe. Established in 2018 and registered in Seychelles, the platform is actively expanding its services to include futures trading, copy trading, spot trading, a Launchpad, staking services, and so much more. 

About Bitget 

The platform offers users access to over 500 coins and 500 trading pairs and is available in most countries, excluding sanctioned countries.

Bitget boasts a $10 billion USDT daily trading volume with over 1,300 employees from 60 countries and regions.

The exchange is still relatively young but provides its customers with impressive offerings. Customers can buy cryptocurrencies with 42 different fiat currencies across various payment partners, such as Simplex and Banxa. Bitget also supports deposits and withdrawals for GBP, EUR, and BRL.

Services

Bitget offers its customers a range of products, including copy trading, spot trading and futures trading.

Spot Trading

The platform offers users a selection of over 500 pairs on its spot market. While it does not offer margin trading for spot pairs, Bitget does offer up to 125% leverage on futures trading. The spot trading platform is easy to navigate and leverages charting from TradingView. TradingView is one of the most popular and advanced charting options most traders use, from beginners to experts. TradingView also offers users the tools to conduct technical analysis.

By integrating TradingView’s charting, Bitget allows traders to run their technical analysis and place their trades on one screen directly on its platform, thus saving traders from switching between screens.

Futures Trading

Bitget’s Futures trading page is like its spot trading page. TradingView also offers charts, so traders have the same functionalities as spot trading. The Futures Trading page allows easy access to the margin ratio, account information, futures information, and analytics provided on the side of the screen.

Bitget offer its advanced traders USDT-M Futures, USDT-M Demo, Coin-M Futures, Coin-M Futures Demo, USDC Futures, and Simulated USDC Futures.

Traders can leverage up to 125x with the range depending on the pair, and the following position modes are available:

• Cross – all funds in the futures account can be used as a margin to share risk, thereby making it more resilient to losses.
• Isolated – the risk of each position is calculated independently.

Traders can choose from the following order types:

• Limit;
• Market;
• Trailing stop, and
• Trigger – through trigger or post only.

Futures trading involves an agreement to buy or sell a crypto asset at a specified price and time in the future. This is regarded as a derivative, as the exchange is based on the value of the underlying asset rather than the actual asset itself. Leverage trading is exceptionally high-risk and is best suited to professional traders.

Copy Trading

Copy trading is becoming increasingly popular and is a method of investing where traders can copy other traders' trades, strategies, or trading positions. Bitget, as the largest copy trading platform in the world, allows traders and investors to copy the trades of others automatically.

Bitget’s copy trading platform allows traders to duplicate or mimic the strategies and trades of other traders on the platform. In this form of trading, novice traders with little confidence can enter the trading world and learn from those who understand the game's intricacies. Bitget currently hosts over 100,000 traders to copy and over 400,000 copy traders.

 The platform offers four types of copy trading:

• Futures trading – copy futures traders
• Spot trading – copy spot traders
• Bot trading – users can copy or buy a trading bot.
• Create a trading bot

Copy trading is available at no cost, so anyone can follow any trader and start replicating their strategies without incurring fees. Traders earn up to 8% of the profit from their followers.

Users can filter through traders based on their ROI, AUM, or Total followers PnL.

Traders can also filter through bots on offer based on their PnL, ROI, or Amount of Bots Sold.

Bitget Launchpad

The Bitget launchpad offers users early access to projects that have traditionally only been available to those with connections.  

The exchange offers a curated selection of some of the most promising projects for its clients to get involved in. It allows them to purchase tokens when they are still in their early stages and not officially listed on the platform.

Users can look at a few past projects on the Launchpad page.

A page also tells you more about launching a project on Bitget.

Bitget created a helpful summary of upcoming launches which customers can use to evaluate the strength of a project. The platform offers valuable insights about all the projects listed and, in such a way, helps their customers decide if a project is suited to their strategy and risk portfolio. 

Bitget Fee Structure

Bitget trading fee structure is transparent and competes with other low-cost crypto trading platforms. The exchange offers several fee incentives, including no crypto deposit fees and reduced spot trading transaction fees.

Spot trading fees carry a standard fee of 0.1% for Marker and Taker. By using Bitget’s native token, BGB, to pay for Spot trading fees, you will receive a 20% discount.

Futures trading fees are set at 0.02% for makers and 0.06% for takers.

Copy trading incurs extra trading fees, but up to 10% of any profits made are given to the trader who was followed.

Bitget offers a comprehensive breakdown of its fees on its Fee Schedule page.

KYC and Account Verification

To start trading on Bitget, customers must create an account and pass KYC (know-your-customer) provisions. Like most crypto exchanges, Bitget requires customers to verify their identities as part of the KYC process. Identity verification allows users to unlock several features and exclusive promotions on the platform, improves security, and protects user’s interests. Recognizing the importance of user cooperation in this security initiative, Bitget is excited to offer an exclusive bonus. Users who complete their KYC verification before the December 15th deadline will receive a $15 bonus as a gesture of gratitude. This reward is not just for new users; it’s a thank you to every member of the Bitget community for their role in creating a safer trading environment. 

Customers must sign up using their real email addresses or mobile numbers to verify a code. After opening an account, users must update their “account information” and furnish the exchange with:

• Name
• Nationality
• Upload a government-issued identity document such as a passport, driver’s license, or ID.

Security Measures

In the interest of protecting its platform and keeping its customer funds safe, Bitget employs several security measures. The exchange relies on three main security features:

• Proof of Reserves,
• $300 Million Protection fund,
• Cold wallet storage.

Proof of Reserves

The exchange guarantees its users that it will hold 100% of users’ assets in reserve and publishes its Merkle Tree proof, platform reserve, and platform reserve ratio monthly.

All the information regarding Bitget’s reserves is published on its website. The platform date and time-stamped the page for an added transparency touch.

According to Bitget, it is vital to hold a 100% reserve ratio for the following reasons:

• It means the platform has sufficient reserves;
• It effectively guarantees that user assets are safe;
• The platform can cover user withdrawals, even if 100% of user assets are withdrawn.

Bitget Protection Fund

Bitget maintains a $300 million protection fund to give its platform an added layer of resilience against cybersecurity threats. The exchange is entirely committed to protecting its users’ assets and operates transparently and ethically.

Bitget is well known for its security and ability to protect its users’ assets. The exchange implements additional features such as two-factor authentication and uses a segregation of hot and cold wallets. Bitget keeps most of its funds offline in cold wallets but does not disclose its offline percentage. According to the Bitget Blog, it received 12 A+ ratings from SSL Labs and is backed by Qinsong Cloud Security, Armors, HEAP, and Suntwin Technology.

Cryptoasset Available on Bitget

Bitget offers trading in over 500 cryptocurrencies, including major coins such as Bitcoin and Ethereum. A complete list of cryptocurrencies is available on Bitget’s Market Page.

Bitget also provides a daily list of the top-ranking cryptocurrency trading pairs.

Deposits and Withdrawals

Bitget offers users a variety of methods to deposit and withdraw funds. The exchange supports over 40 fiat currencies, and users can easily purchase a selection of cryptocurrencies without exuberant conversion fees.

Customers can deposit and withdraw GBP, EUR, and BRL for no fees if they use bank transfer methods.

The exchange partnered with companies such as Simplex, Banxa, and Mercuryo to give customers a method to purchase over 250 different coins and tokens through credit/debit cards, Apple Pay and Google Pay. Bitget also supports a P2P marketplace for buying and selling cryptocurrencies with additional payment methods such as TransferWise, Adv cash, Cashapp, Zelle, Neteller, Skrill, Uphold and bank transfers. 

Bitget Token ($BGB)

The BGB token is Bitget’s native utility token. BGB is an ERC20 token that can be used to reduce trading fees on the platform, be staked for 6% APR (Annual Percentage Rate), and be used for social trading. The BGB token is the foundation for improving Bitget’s internal ecosystem and brings it on par with industry leaders. BGB operates on the Ethereum blockchain (ERC20 standard), the improved version of the previous Bitget DeFi Token (BFT).

BGB can be used in various scenarios:

• Fee deduction – BGB offers users a 15% to 20% discount on trading fees.
• Contract margin – the BGB token can be used as collateral for contract trading, specifically in Bitget’s Coin-M futures product.
• BGB is the reward token for Trade-to-Earn programs.
• Stake and trade to earn – holders can stake BGB, earning interest-like rewards.
• Traders can use BGB to secure partnership opportunities and take advantage of some Bitget Launchpad features.

Users can acquire BGB tokens in three ways:

• Spot trading – Buy BGB with USDT, USDC, BTC, and ETC on the Bitget spot market.
• Buy with fiat – Buy BGB with fiat through Express Buy or the P2P marketplace.
• Convert small balances – users can exchange holdings in their account worth less than 5 USDT for BGB at a 2% exchange fee.

Overall Impressions

As the world’s largest copy trading platform, Bitget offers users various trading options. The exchange heavily focuses on security and KYC compliance and provides its users with an easy-to-use platform with several features to help them in their trading journey.

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.