Bitget Review – Is It Safe to Use or Not?

Bitget has gathered attention for its wide range of products and services designed to meet the needs of all types of crypto investors and traders.

Established in 2018, Bitget has rapidly grown to become a significant player in the crypto industry, with over 25 million registered users and a daily trading volume surpassing $10 billion USDT.

What is Bitget?

Bitget was founded in 2018 by a team of early blockchain adopters and traditional finance professionals who ventured into the cryptocurrency space with a belief in its transformative potential.

Initially encountering skepticism and volatility, the team remained committed to building a secure, user-centric trading platform.

Bitget’s core philosophy centers around innovation, user-first policies, and long-term development.

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The Copy Trading Platform – Most Popular Product

Bitget is proud to be the first to bring copy trading to the cryptocurrency market since 2020. Bitget Copy Trade is designed as a powerful and practical tool for all traders, whether they are absolute beginners or already have a certain level of experience in the market.

This feature applies the principles of Social Trading, enabling users to connect with experienced traders and learn their success secrets.

By following expert traders, users, known as Followers, can automatically copy all orders executed by the traders they follow.

This system creates a transparent and reliable trading environment where both professional traders and beginners can collaborate to generate more income.

Key Statistics

• 165,000+ Elite Traders
• 800,000+ Followers
• $530,000,000+ Realized PnL
• 100 million trades completed

How to Get Started

Getting started with Bitget Copy Trade is straightforward. Users can begin by selecting an elite trader to follow, thereby automatically copying their trades.

This allows users to benefit from the strategies and market insights of experienced traders without needing extensive trading knowledge themselves.

1. Selecting the Best Trader(s)

Bitget provides tools to help users select the best traders to follow:

• Elite Traders Comparison: This feature allows users to compare multiple traders based on their basic information, trading data, and insights activities.
• Filtering Options: Users can filter traders by overall ranking, ROI, AUM, and more on the homepage for both Futures and Spot Copy Trading.
• Trader Profiles: Each trader’s profile includes success metrics such as ROI, Maximum Drawdown, Total Copy Traders, Total Profit, Win Rate, and AUM. The Orders tab shows historical trades, while the Followers tab provides details of their followers.
• Analysis: Key metrics are visualized to provide a summary of a trader’s activities over various time periods, helping users understand the trader’s strategy.

2. Setting Your Preferences

When choosing to follow a trader, users can customize their copy trading preferences:

• Profit Share Ratio: Indicates how much of the follower’s profits the trader shares.
• Futures Contracts or Trading Pairs: By default, followers are exposed to all futures contracts or trading pairs enabled by the trader. Users can edit this selection to fit their preferences.
• Copy Mode: Users can choose between Fixed Amount and Multiplier modes. The Fixed Amount mode allocates a pre-set amount of equity for each trade, while the Multiplier mode synchronizes the follower’s equity proportionally with the trader’s.

3. Managing Your Trades

Users can review all their trades and positions on the homepage. They have the option to manually close individual positions or close all positions simultaneously.

4. Trader Application

Experienced traders looking for a new stream of passive income can apply to become a futures or spot trader on Bitget Copy Trade. The platform provides an opportunity for traders to showcase their skills and earn from their followers’ success.

• Application Requirements: Traders must have no open positions, orders, or trigger orders in any futures accounts and must not be following any other trader at the time of application. Only one account per trader is allowed.
• Deposit Requirements: The maximum number of followers is tiered based on the trader’s equity in their futures or spot account. Higher equity allows for more followers.
• Trader List Requirements: To be displayed on the Trader List, traders must maintain a minimum balance in their account and complete at least one order supported by the platform.

5. Profit Sharing Scheme

Traders can share up to 10% of their followers’ profits, with the percentage depending on the amount of BGB locked. This scheme incentivizes traders to improve their strategies continually.

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Other Bitget Products

Bitget offers a comprehensive range of products and services designed to cater to the diverse needs of cryptocurrency users, from beginners to experienced traders. This section provides a detailed examination of the various products available on the Bitget platform, offering insights into their features and functionalities.

1. Buy Crypto

Bitget simplifies the process of purchasing cryptocurrencies through several convenient methods, each tailored to meet the diverse needs of users.

1.1 Credit/Debit Card

Users can buy crypto using Visa, Mastercard, Google Pay, or Apple Pay. This method is designed to be user-friendly and accessible, allowing for quick transactions. The process involves selecting the cryptocurrency to purchase, entering the payment details, and completing the transaction within minutes.

1.2 P2P Trading

The P2P (peer-to-peer) trading feature allows users to buy crypto directly from other users on the platform. This method offers flexibility as users can filter for sellers based on currency, payment method, and price, ensuring optimal transactions that meet their specific needs.

It provides an added layer of trust as transactions are conducted directly between users with Bitget acting as an intermediary to ensure security.

1.3 Cash Conversion

Cash Conversion is a one-click option to buy crypto with a fiat balance, supported currencies include EUR and BRL. This method simplifies the conversion process, making it easy for users to purchase crypto using their fiat currency. Users select their preferred currency and amount, and Bitget handles the conversion seamlessly.

1.4 Quick Buy

Quick Buy is a streamlined method for purchasing cryptocurrencies, supporting various payment methods including credit/debit cards, cash balances, and e-wallets. This feature facilitates fast and efficient transactions by allowing users to select their preferred payment method and fiat currency. The platform guides users through a simple process to complete their purchases promptly.

1.5 Third-Party Providers

Bitget supports purchases through partnered third-party payment providers, offering additional flexibility and convenience. These providers vary based on the user’s region and include popular options such as Visa, Mastercard, Apple Pay, and Google Pay. Users can select the provider that best suits their needs and complete their transactions with ease.

2. Bitget Earn

Bitget Earn is an all-encompassing asset management platform that offers a variety of financial products to cater to the diverse investment needs of users. The platform provides professional and high-quality asset management services, allowing users to choose from a range of products based on their preferences, investment horizons, and risk appetites.

2.1 Flexible Savings

Flexible Savings is a product that offers hourly/daily interest on 200 cryptocurrencies and allows funds to be redeemed at any time. This low-risk option enables users to earn interest on their idle assets with the flexibility to withdraw funds whenever needed. The interest income is credited to the user’s spot account daily, starting from the second day after subscription.

2.2 Fixed Savings

Fixed Savings offers higher returns than Flexible Savings, with a fixed subscription period of 30 or 60 days. This product provides greater stability for those willing to lock their assets for a specified period. At the end of the subscription period, the locked assets are returned along with any profits earned. Fixed Savings is ideal for users seeking a balance between risk and reward.

2.3 Staking

Bitget Staking allows users to stake 29 popular cryptocurrencies, including SOL, ETH, and NEAR, earning daily interest. This product offers flexibility as users can redeem their staked assets at any time. Bitget ensures full ROI by not taking a cut of the earnings. Interest starts to accrue the day after staking, and earnings are credited to the user’s spot account daily.

BGB Staking is a specific staking option for Bitget’s native token, BGB. Users can stake BGB to enjoy benefits such as zero-fee withdrawals and a 2% APY. Staking BGB provides an opportunity to earn a steady return while participating in the platform’s ecosystem and enjoying exclusive benefits.

3. Launchpool

Bitget Launchpool is a platform for staking and farming popular or newly listed tokens. Users can stake BGB or other designated tokens in the pool for free, with a total staked amount of over $1.96 billion USDT. Launchpool allows users to earn new tokens by staking their existing assets, providing a way to gain exposure to new projects without additional investment.

4. Dual Investment

Dual Investment is a non-principal-guaranteed product offering significant returns by investing in two different crypto assets. It is designed for long-term holders who want to grow their crypto while holding.

Dual Investment allows users to buy crypto assets at a lower price or sell at a higher price, earning interest regardless of price movements. This product enables users to configure multiple portfolios for maximum profitability.

5. Shark Fin

Shark Fin is a capital-guaranteed structured wealth product that combines fixed income products with financial derivatives. This product caters to risk-averse investors who prefer stability.

Shark Fin helps users earn stable income within their risk appetite. The APR range for Shark Fin products is updated hourly based on market prices but becomes fixed once interest accrual starts.

6. Smart Trend

Smart Trend is an innovative financial product with guaranteed capital. It uses fixed assets and option combinations to construct structured risk-return enhanced products. Smart Trend is suitable for both bullish and bearish market trends, allowing investors to balance the risk of currency price fluctuations while increasing investment value.

7. Bitget Wealth Management

Bitget Wealth Management provides professional asset management services, targeting high-net-worth individuals, asset management experts, and Bitget VIP members.

The platform aims to help clients achieve steady wealth growth through carefully selected investment bots. Funds are securely entrusted to Bitget, and asset management bots are provided by top-tier global suppliers with proven track records.

8. Spot Auto Invest

Spot Auto-Invest+ is a bot designed to increase income by depositing cryptocurrencies gained from the auto-invest bot into Flexible Savings.

This feature generates additional daily returns and allows for redemption at any time. Funds are automatically deposited into the specified Flexible Savings product, with interest income credited to the user’s spot account daily.

9. Bitget Crypto Loans

The Crypto Loan feature allows users to utilize their crypto assets as collateral to borrow other cryptocurrencies.

This over-collateralized method ensures the security of the borrowed assets while providing flexibility for users to use the loaned funds for various purposes, including trading or investing in Bitget Earn products.

10. Bitget PoolX

Bitget PoolX offers a more flexible staking option compared to traditional staking, allowing users to redeem their staked tokens from a staking pool at any time.

This flexibility is advantageous for users who want to maintain liquidity while earning staking rewards, enabling them to react quickly to market changes or take advantage of new opportunities.

Bitget PoolX distributes rewards on an hourly basis, allowing users to reinvest earnings back into the staking pool much quicker.

PoolX operates as a stake-to-mine platform, offering staking rewards in popular tokens. Users can stake specified tokens, including stablecoins like USDT or Bitget’s native token BGB, with APRs calculated separately for each staking pool.

11. Bitget Trade

Bitget offers a wide array of trading options, including spot trading, futures trading, and crypto conversion features, all designed to provide a comprehensive trading experience.

11.1 Bitget Spot

Bitget Spot trading is a core feature of the Bitget platform, enabling users to buy and sell cryptocurrencies with ease. The platform offers a wide range of trading pairs, high liquidity, and advanced trading tools to support informed decision-making.

• Trading Pairs: Bitget Spot supports over 550 trading pairs, allowing users to trade a diverse array of cryptocurrencies.
• High Liquidity: The platform ensures high liquidity across all trading pairs, making it easy for users to enter and exit positions with minimal price impact. High liquidity guarantees the best bid/ask spread, providing a seamless trading experience.
• Low Fees: Bitget offers competitive trading fees to attract high-volume traders. Users can benefit from reduced fees by holding BGB, Bitget’s native token.
• Real-Time Charts and Indicators: Bitget provides real-time trading charts and a variety of technical indicators to assist traders in making informed decisions. Users can customize their trading interface to suit their needs.
• Benefits of Holding BGB: By holding BGB, users can enjoy zero-fee withdrawals and participate in exclusive features within the Bitget ecosystem.

11.2 Futures Trading

Bitget’s futures trading platform offers advanced features and high leverage, allowing traders to maximize their potential profits. Futures trading is a high-risk, high-reward endeavor, and Bitget provides the tools necessary to navigate this complex market.

• Leverage: Bitget offers up to 125x leverage on its futures products, enabling traders to amplify their positions. However, it’s crucial for traders to understand the risks associated with high leverage.
• Futures Products:
  • USDT-M Futures: Perpetual futures settled in USDT, offering a stable and widely accepted trading pair.
  • USDC-M Futures: Perpetual futures settled in USDC, providing another stablecoin option for futures trading.
  • Coin-M Futures: Perpetual and delivery futures settled in various cryptocurrencies, allowing users to trade with the underlying asset.
• Futures Copy Trading: This feature allows users to follow and copy the trades of top futures trading experts. It provides an opportunity for novice traders to learn from experienced professionals and potentially improve their trading performance.
• Trading Bots: Bitget offers smart contract trading bots that enable automated trading strategies. These bots can help traders execute trades based on predefined criteria, reducing the need for constant monitoring.
• Futures Kickoff: A feature designed to help new users get started with futures trading in two simple steps, making it accessible even for beginners.

11.3 Bitget Convert

Bitget Convert is a straightforward and efficient tool for converting cryptocurrencies. This feature eliminates transaction fees and slippage by using a quoting model, providing users with competitive exchange rates.

• Zero Fees: Users can convert cryptocurrencies without incurring transaction fees, making it a cost-effective option for frequent conversions.
• Competitive Rates: Bitget Convert offers competitive rates based on current market conditions. Users receive a quote before executing the conversion, ensuring transparency.
• Wide Range of Supported Coins: Most cryptocurrencies listed on Bitget can be converted using this feature, including BTC, USDT, ETH, and more.
• Instant Conversion: The conversion is executed immediately upon accepting the quote, with the exchanged crypto deposited directly into the user’s spot account.

11.4 Bitget Swap

Bitget Swap is a key feature of the Bitget Wallet, designed to provide users with the best prices for token swaps across various blockchains. It aggregates liquidity from multiple DEXs and cross-chain bridges, ensuring optimal trading conditions.

• Aggregated Liquidity: Bitget Swap sources liquidity from hundreds of DEXs, offering users access to the deepest liquidity pools. This ensures that users receive the best possible trading prices.
• Cross-Chain Transactions: The platform supports seamless cross-chain swaps, allowing users to trade tokens across different blockchains effortlessly. Users can swap from token A on blockchain B to token C on blockchain D in a single transaction.
• Automatic Slippage Reduction: Bitget Swap introduces an automatic slippage feature to minimize transaction costs. This feature adjusts slippage settings to ensure users receive the best possible trade execution.
• Instant Gas Feature: Even if users do not hold the mainnet token in their wallet, they can still complete transactions. Bitget Swap covers the gas cost through the Instant Gas advance payment, enhancing the user experience.

Bitget Fees

Bitget offers a tiered fee structure based on trading type (spot vs futures) and VIP membership status. Here’s a breakdown:

Standard Fees (Non-VIP):

• • Spot Trading:
    • Maker Fee: 0.1% per trade (adds liquidity to the order book)
    • Taker Fee: 0.1% per trade (removes liquidity from the order book)

• Futures Trading:
  • Maker Fee: 0.02% per trade
  • Taker Fee: 0.06% per trade

BGB Discount:

Bitget incentivizes holding their native token, BGB, by offering a 20% discount on all trading fees if you pay with BGB. This effectively reduces the fees to:

• Spot Trading: 0.08% (maker & taker)
• Futures Trading: 0.016% (maker) & 0.048% (taker)

VIP Fee Tiers:

Bitget has a VIP program with several tiers, each offering progressively lower trading fees. These typically require high trading volume or holding a specific amount of BGB.

Bitget Security

Bitget places a strong emphasis on security to ensure the safety and integrity of users’ assets. The platform incorporates industry-leading measures in wallet security, network security, risk control, and data security.

These comprehensive security protocols are designed to protect users from potential threats and maintain a secure trading environment.

Proof of Reserves

Bitget guarantees that it holds 100% of users’ assets in reserves and publishes its Merkle Tree proof, platform reserves, and platform reserve ratio on a monthly basis.

The term “Proof of Reserves” refers to an auditing procedure that verifies the holdings of an exchange through cryptographic proofs, public wallet ownership, and recurring audits.

This process provides transparency and proof of the existence of liquid on-chain reserves that exceed or equal the sum of all user holdings.

To achieve this, Bitget stores the hash of each user account’s assets in a leaf node on the Merkle tree.

Each user can verify that their assets exist in the Merkle tree by checking the total amount of user assets stored in the Merkle tree leaf nodes.

If the total amount verified is greater than or equal to 100%, it means that the platform has proven that it can cover all user assets.

Bitget Protection Fund

The Bitget Protection Fund is an additional layer of security designed to protect users from unforeseen cybersecurity threats. The fund is currently valued at $395 million, comprising 6,500 BTC. The value of the fund is based on the entry price at 12:00 AM (UTC) every day.

• The Bitget Protection Fund provides the platform with extra resilience against cybersecurity threats.
• It demonstrates Bitget’s commitment to protecting users’ assets and operating with transparency and integrity.
• Users who have their accounts compromised or assets stolen or lost due to events not attributable to their own actions or trading behavior may make a claim through the Bitget Protection Fund.

Our take on Bitget

Bitget has established itself as a formidable player in the cryptocurrency exchange landscape, offering a wide range of products and services designed to meet the needs of both novice and seasoned traders.

Bitget’s extensive product suite is one of its most significant advantages. The platform offers a variety of trading options, including spot trading, futures trading, and a robust copy trading system. Each product is designed to cater to different levels of trading experience and risk tolerance, making Bitget accessible to a broad user base.

• Buy Crypto: Bitget simplifies the process of purchasing cryptocurrencies with multiple payment options, including credit/debit cards, P2P trading, and third-party providers. This flexibility ensures that users from different regions can easily access the platform.
• Bitget Earn: The diverse range of financial products under Bitget Earn, such as Flexible Savings, Fixed Savings, Staking, Dual Investment, and Shark Fin, provide users with numerous opportunities to grow their assets. The introduction of innovative products like Smart Trend showcases Bitget’s commitment to catering to various investment strategies and risk appetites.
• Bitget Wealth Management: For high-net-worth individuals and professional investors, Bitget Wealth Management offers a secure and efficient way to manage crypto assets, leveraging top-tier investment bots and a rigorous selection process.

Innovative Trading Features

Bitget’s trading features are designed to enhance the user experience and provide advanced trading capabilities:

• Spot Trading: With over 550 trading pairs and high liquidity, Bitget Spot ensures seamless market entry and exit, supported by real-time charts and technical indicators.
• Futures Trading: Offering up to 125x leverage, Bitget’s futures trading platform caters to traders looking for high-risk, high-reward opportunities. The inclusion of futures copy trading and automated trading bots further enriches the trading experience.
• Bitget Convert and Swap: These features offer users efficient ways to convert and swap cryptocurrencies with zero transaction fees, leveraging aggregated liquidity and intelligent routing to find the best prices.

Security and Transparency

Bitget’s commitment to security and transparency is evident through its industry-leading practices:

• Proof of Reserves: By publishing monthly Merkle Tree proofs and platform reserve ratios, Bitget provides users with verifiable proof of its ability to cover all user assets, ensuring maximum transparency and trust.
• Bitget Protection Fund: Valued at $395 million, the Bitget Protection Fund adds an extra layer of resilience against cybersecurity threats, demonstrating Bitget’s dedication to protecting user assets.

Copy Trading Excellence

Bitget is a pioneer in crypto copy trading, offering a platform where users can follow and replicate the trades of elite traders. With over 165,000 elite traders and 800,000 followers, Bitget Copy Trade has facilitated over $530 million in realized PnL, showcasing its effectiveness and popularity.

• User-Friendly Interface: The platform makes it easy for users to start copy trading, providing detailed trader profiles, performance metrics, and customizable copy settings.
• Educational Resources: Bitget supports its copy trading feature with educational tools like Bitget Academy and Bitget Insights, helping users make informed decisions and improve their trading strategies.

Our analysis indicates that Bitget is well-equipped to continue its growth and maintain its reputation as a trusted and forward-thinking platform in the rapidly evolving world of digital finance.

Frequently Asked Questions

What is Bitget?

Bitget is a cutting-edge cryptocurrency exchange that aims to simplify the trading experience for everyone, from beginners to seasoned pros.

With Bitget, you can trade a wide variety of digital assets, dive into futures trading, or even take advantage of their innovative copy trading feature.

This means you can follow and replicate the strategies of top traders, giving you a leg up in the crypto world without having to be an expert yourself. It’s like having a seasoned mentor guiding your every move in the complex world of cryptocurrency trading.

Where is Bitget located?

Bitget is headquartered in Seychelles. It’s a global cryptocurrency exchange known for offering a variety of trading services, including futures and spot trading. They also have one of the largest crypto copy trading platforms. Founded in 2018, Bitget has grown significantly, with over 1,500 employees from 60 countries and millions of users worldwide.