Bitget offers a comprehensive platform tailored for cryptocurrency traders, be it novices or professionals. The modern design combined with a plethora of tools makes it an attractive choice. Though it may seem a tad complex for someone just starting, the variety of resources and tools available are ideal for those looking to delve deeper into crypto trading.
BitGet is renowned for its wide range of trading services. Established in 2018, it offers:
The Launchpad is an innovative platform for investing in new crypto projects. Users holding BitGet’s native token, BGB, can access this service to invest in emerging projects across various sectors like gaming, NFTs, Metaverse, and DeFi.
BitGet offers strategic trading, enabling users to access, create, or follow trading strategies using intelligent bots. This feature is designed to provide flexibility in trading and learning opportunities from experienced traders.
The platform provides futures trading with three types of contracts: USDT-Margined, USDC-Margined, and COIN-Margined. It also introduces “Quanto Swap Contracts” for cross-currency transactions, allowing users to use different coins as margin and potentially earn from both trading interests and price rises of the margin coins.
BitGet offers both spot and margin trading, with the latter allowing borrowing funds for larger trades. It provides two types of margin trading: cross-margin and isolated-margin, with features like auto-borrowing and auto-repaying to streamline the process.
The BitGet mobile app, available for iOS and Android, mirrors the features of the web version. It enables users to engage in copy trading, automated bot trading, and access BitGet Earn for passive income generation.
Users can earn passive income through staking, by locking crypto assets in smart contracts on proof-of-stake networks. BitGet offers secure and flexible staking options for various PoS coins.
BitGet’s crypto loans allow users to borrow crypto assets by pledging other crypto assets as collateral, offering up to 70% of the collateral’s value with low interest rates and flexible repayment terms.
This unique service enables users to profit from two different cryptocurrencies by setting a base and a target currency, with different outcomes based on whether the target price is reached within a set period.
BitGet has designed its platform with user-friendliness as a priority. The interface is intuitive and easy to navigate, making it accessible for traders of all levels. The design focuses on efficient trade execution, providing a seamless trading experience. This user-centric approach is evident in the platform’s responsive design, which caters to both experienced traders and newcomers to the crypto world.
To enhance the trading experience, BitGet equips its users with a suite of advanced trading tools. These include real-time charts, a variety of technical analysis indicators, and risk management features. These tools empower users to make informed decisions based on comprehensive market insights, thus improving their trading strategies.
BitGet’s mobile app, compatible with both iOS and Android devices, mirrors the web version’s features. The mobile user interface is clear, simple, and efficient, allowing users to submit orders swiftly. The app includes functionalities like copy trading, strategic trading, advanced trading interface, and BGB Earn, ensuring a comprehensive mobile trading experience. Moreover, the app’s design is beginner-friendly, making it easy to navigate for buying and selling crypto assets. It also includes a two-step verification process to secure user information and funds.
Security is a top priority for BitGet. The platform has established the BitGet Protection Fund, worth USD $300 million as of November 2022, to protect users’ assets. This fund is one of the largest among CEXs, providing a robust safety net for users. Additionally, BitGet maintains a Proof of Reserves, ensuring a 1:1 reserve ratio of customer funds, significantly higher than the industry standard. The exchange also offers multilingual customer support in various languages to enhance the user experience.
For added security, users can set up two-factor authentication (2FA) using Google Authenticator. This straightforward process adds an extra layer of security to logins, withdrawals, and changes to other security settings. While withdrawals do not require the whitelisting of addresses, this highlights the importance of using 2FA and maintaining unique and secure passwords.
The platform offers access to over 480 cryptocurrencies and more than 580 trading pairs, ensuring that users have a wide range of options to choose from. This diversity in trading options enhances user satisfaction as they can find almost anything they are looking for in terms of crypto trading.
Comparing Bitget’s fee structure with industry averages:
Bitget’s spot trading fees are significantly lower than the industry average, offering an affordable option for regular users. For futures trading, while the maker fee is lower than the industry average, the taker fee is slightly higher. However, the availability of discounts for VIP users and BGB token users provides additional cost-saving opportunities.
BitGet offers a comprehensive range of customer support channels to cater to different user needs:
These various channels ensure that users have multiple avenues to seek assistance and address their queries efficiently.
BitGet emphasizes user account security by recommending the use of 2FA, specifically Google Authenticator. While not mandatory, 2FA adds an essential layer of security to protect against unauthorized access to user accounts.
BitGet maintains a transparent Proof of Reserves policy. This ensures that the funds held in reserve correspond with the customer assets on the platform, providing a 1:1 reserve ratio. This transparency is further enhanced by monthly publications of their Merkle Tree proof, platform reserves, and reserve ratio.
The platform has established a $300 million protection fund, designed to safeguard users’ assets against potential losses from cyberattacks. This fund, which is regularly monitored, acts as a significant buffer against any unforeseen security breaches.
For data security, BitGet employs SSL encryption. This standard security technology establishes an encrypted link between servers and clients, ensuring that user data remains secure during transmission.
BitGet uses a combination of cold (offline) and hot (online) wallets for asset storage. The cold wallets are offline, multi-signature, and include offsite backup, whereas the hot wallets have private keys stored in a secure manner. This approach provides a balanced mix of accessibility and security.
The exchange’s risk control is based on big data analytics, monitoring aspects like device IDs, IP addresses, and user behavior to prevent abnormal withdrawal or deposit activities. Their wallet services are isolated from the network with multiple layers, and real-time monitoring is in place for asset changes and global reconciliation.
BitGet’s proactive approach to security includes a bug bounty program, incentivizing the identification and reporting of vulnerabilities. This program offers rewards ranging from 100 to 1,500 USDC, depending on the severity of the vulnerability found. This initiative encourages continuous improvement in the platform’s security posture.
In addition to these measures, BitGet encourages users to enable 2FA and set up account notifications. This added layer of personal security ensures that users are promptly alerted of any unauthorized attempts to access their accounts.
