As cryptocurrencies continue to remain popular, it is very important for new users to be informed about the platforms they use.
Bitget is relatively new among the existing crypto giants, but it is quickly gaining a place among the cryptocurrency giants. So is Bitget the right exchange for you?
In this comprehensive review, we examine Bitget’s cryptocurrency products, investment tools, security, and whether it is the right cryptocurrency exchange for you.
1.What is Bitget Exchange?
Bitget appears as a reliable cryptocurrency exchange with a wide range of products in the cryptocurrency world. Founded in 2018, the platform continues to provide a wide range of services by supporting more than 550 spot trading pairs and more than 770 trading pairs in total. Bitget, which includes many features from derivative tools to copy trading, quickly gained an important place in the crypto community and ranked 13th in CoinGecko’s top 20 exchange list.
2. Is Bitget Safe?
As anyone new or experienced in the crypto space knows, the security of funds is of primary importance when choosing a cryptocurrency exchange. Bitget’s security measures meet every requirement that a user may need and offer security measures such as standard two-factor authentication (2FA), storage of users’ funds in cold wallets, insurance fund, and white lists.
The individual and system security measures offered by Bitget are as follows:
With this feature, you are presented with a unique code to provide an extra layer of security for your funds, and when the code is changed, a 24-hour withdrawal ban is automatically applied.
- Withdrawal Address Whitelist
You can increase your security by creating a whitelist of trusted addresses and only allow withdrawals to these addresses.
- Anti-Phishing Code
With this feature, genuine e-mails from Bitget contain a special code for you, so you can distinguish between fake and real e-mails.
- Third Party Account Integration
Thanks to this feature, you can easily connect your Bitget account to reliable third-party platforms.
- Withdrawal Transactions Without Password
Set preset limits and manage your withdrawal goals effortlessly with this feature.
- Reliable Device Management
Ensure account security with Trusted Device Management. This tool adds an extra layer of protection against unauthorized access by allowing users to specify allowed devices.
Are you planning to take a break from the platform or leave it permanently? Our Account Activity section provides the option to initiate Bitget account deletion, ensuring that data and account information remains safe.
Bitget User Protection fund, valued at $424 million as of December 2023, protects users from losses other than their own transactions.
3. How to Start Using Bitget?
For users who are preparing to step into the crypto world with Bitget, the beginning may be a bit painful. However, Bitget offers a simple and intuitive registration process that new users can quickly adapt to. Users can quickly create an account and start depositing and trading fiat directly using their bank account.
Moreover, the Bitget platform frequently runs campaigns targeting newbie users. Thanks to these campaigns, you can start your crypto career with extra rewards and get the extra support you may need.
All you have to do is create an account, complete your identity verification, fund your account and start trading with your preferred strategy.
4.Advantages of Using Bitget
Advantages:
- Various Product Options: There are many product options offered by the Bitget platform. Bitget, which is mainly a crypto derivatives exchange, has a wide range of products that may scare users who are new to crypto, but may delight experienced users with its opportunities as time goes by.
- User-Friendly Interface: The platform offers many products for both novice and experienced traders, and the interfaces of these products are quite simple. The learning period for both beginners and experienced users will be quite short.
- Security precautions: When it comes to cryptocurrencies, security is an issue that can never be taken lightly. Bitget offers many tools for account security and provides you with every tool you need to protect your assets. At the time of writing, Bitget’s hedge fund has reached 424 million USD. In other words, you are protected against losses that may arise from the platform, even if the probability of occurrence is low.
- Wide Crypto Options: Bitget has a pretty wide selection of cryptos and they are constantly expanding their cryptocurrency trading pair catalog with regular listings.
- Bank Integration: Bitget also has a platform called Bitget TR for users in Turkey. With this platform, you can make an internal transfer between Bitget and Bitget TR, convert your money to TRY and withdraw it directly to your bank account.
What is Bitget Token (BGB)?
At the heart of Bitget’s ecosystem lies its distinctive utility token, BGB. BGB token serves multiple purposes and can be traded directly on the Bitget platform.
- Discount on Transaction Fees
You can get a 20% discount by paying the fees arising from your market maker and market maker transactions on Bitget with BGB.
- Participation in Token Sales
BGB is used to purchase newly listed cryptocurrencies on Bitget’s Launchpad product for new crypto projects. So, if you want to buy new cryptocurrencies on the Bitget platform, you must have BGB.
Bitget Token (BGB) has had a fairly stable performance in down markets so far, and in addition, it is a deflationary cryptocurrency, meaning regular burns are carried out, reducing its total supply in the market.
We can’t say for sure if BGB is the right token for you or if it will go up or down. However, another purpose of use is to buy and sell on the platform.
6. How to Deposit on Bitget?
Depositing money to Bitget is quite simple, because you can deposit Turkish Lira directly using your bank account through Bitget TR. If you do not know how to link your account or how to make a deposit using your bank account, you can easily carry out your transactions by reading the guides offered by Bitget.
Additionally, you can deposit directly to your platform account or create a wallet with Bitget Wallet (formerly Bitkeep) and link it directly to your account.
7. Bitget Products Overview
Bitget’s product range includes a variety of trading instruments, including perpetual contracts and spot trading. These offerings allow users to tailor trading strategies to suit their preferences and risk appetite.
Bitget is primarily a crypto derivatives platform and its primary product is Copy Trading. Of course, this does not mean that Bitget only offers Copy Trading. Bitget’s product range is quite wide and offers tools for all types of investors to develop trading strategies that suit their risk habits. If we count some of the cryptocurrency investment products in question, the following list will cover most of them:
- Spot
- swap
- P2P
- Futures
- Lever
- Futures and Spot Copy Trading
- Futures and Spot Bot Copy Trading
- Spot and Futures Grid Trading
- staking
- Automatic Investment
- sharkfin
- Smart Trend
- Binary Investment
- range sniper
- launch pad
- Launchpool
- Crypto Credits
- OTC
- Snowball
Although familiar trading tools such as spot and futures are widely used, tools such as Shark Fin or Range Sniper are products that require a little more knowledge and understanding of the risks. Bitget also offers an Academy archive where each product is explained in detail.
As always, before making your cryptocurrency transactions, you should carefully evaluate the risks you take, consider your circumstances carefully, and always do your own research.
However, Bitget’s most prominent product is Copy Trading and Bot Copy Trading.
What is Copy Trading?
The logic in the Copy Trading product is simple. Bitget promotes its users who meet certain criteria to Elite Trader status and allows these people to lead the transactions of others.
In this case, Copy Traders can examine the Elite Traders in question, just as if they were browsing accounts on a social media platform (which is already promoted as a “social crypto platform”) and see the past performance of each Elite Trader and examine how successful they are in their transactions.
Afterwards, the user can start copying the transactions of an Elite Trader he/she likes. In this case, you set aside a certain asset and these assets are allocated to copying the strategy of your chosen trader and a small portion of your returns is given to that Elite Trader.
In short, if you have hesitations about developing your own strategy or stepping into the crypto world, you can leave your strategy to another trader and use this product, which allows you to profit from the experience and knowledge of others.
In addition, Bitget Bot also offers Copy Trading. Users can launch the trading bots they have created in this market and earn profits from the bots by using their own strategies in exchange for money. Users who purchase bots can invest using the strategy of these bots.
8. What is Bitget TR?
Bitget TR is Bitget’s cryptocurrency platform and fiat gateway exclusively for users in Turkey. Thanks to bank integration, users can purchase cryptocurrencies, deposit and withdraw Turkish Lira directly using their bank accounts.
Additionally, users can connect their Bitget TR account to their Bitget account to make free internal transfers between the two accounts.
9. What’s on Bitget Other than Trading Products?
Well, Bitget offers 600+ cryptocurrencies and 700+ trading pairs. A secure platform is available to buy and sell Bitcoin (BTC) and hundreds of altcoins. What else?
With Bitget Research, users can access news on the latest market trends, while with Bitget Blog they can stay informed about the platform’s latest events and reward offers. Additionally, there is also an Academy archive for users stepping into the crypto world for the first time.
In addition, Bitget also offers scholarships and training for young people who aim to rise in the crypto industry with the Blockchain4youth project. Finally, Bitget also has its own wallet.
Bitget Wallet (formerly known as Bitkeep) offers users a variety of features such as tens of thousands of dApps, staking services, high security, NFT marketplace, and more.
10. Bitget Transaction Fees
Another of users’ first considerations when choosing a cryptocurrency platform is how much transaction fees the platform charges. Bitget offers different trading fees for different product categories, for example, Spot market makers and takers pay 0.1% trading fee, while for Futures market makers pay 0.2% and takers pay 0.06% trading fee.
It is worth noting that you will receive a 20% discount on the transaction fees you pay with BGB.
In addition, if you want to become a VIP user, Bitget will offer different privileges for you. Depending on the level you achieve, withdrawal limits of up to 10,000,000 USD and transaction fees as low as 0.045% will be waiting for Bitget’s VIP level users. Additionally, you can apply to become a VIP for privileges such as a private account manager, special savings product advantages for VIP users, and privileged access to Bitget Card.
11. Conclusion
Bitget offers a satisfactory platform in terms of security and diversity of both products and cryptocurrencies. Although it may be considered relatively new among the existing crypto giants, as a platform founded in 2018, the platform already appeals to a wide range of users and offers interesting opportunities for users of almost every skill level.
Disclaimer:
Koin Bulletin is not responsible for any damage or loss related to any products or services mentioned above. Koin Bulletin encourages readers to conduct their own research regarding the company mentioned in this sponsored article and the products or services it offers.