Is Bitget a Scam? Discovery About Bitget Exchange

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Blockchaingalaxy

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Since launched in 2018, Bitget has grown rapidly into one of the leading crypto exchanges that provides a wide selection of crypto coins and tokens for trade through the spot or futures market, with low trading fees. How does it work and is it safe or not? Let's find out with us through this review about Bitget!

1. What is Bitget?

Bitget is a cryptocurrency exchange based in Singapore that was founded by Sandra Lou. There are lists of many cryptocurrencies and tokens can be bought and sold on the spot or in futures markets without deposit fees for trading. Bitget has received regulatory licenses from the US, Canada, and Australia, making them a trusted exchange.

Bitget is available on both desktop and mobile versions with a very simple sign-up strategy. The platform offers free copy trading for its users with great incentives for the pro traders that allow others to follow their strategies to earn passive income. Users are allowed to select master traders by tracking their trading performance and total profitability over time.

Currently, Bitget has more than 2 million registered users and has achieved a 24-hour transaction volume of $5.6 billion. Its daily average futures volume was ranked in the top five in March of 2022 on CoinGecko and its featured product Coin-Margin futures which achieved an all-time high volume of trading by reaching the amount of $7.82 billion.

The most important service of Bitget is trading with derivatives which is an instrument based on the liquidation price of a financial asset such as a bond or stock bond.

2. How does Bitget work?

Bitget provides their users spot trading, derivatives and copy trading. Customers are allowed to choose based on what they want. There are perpetual future contracts used by Bitget which are standard contracts for difference and are a popular derivative tool in cryptocurrency trading.

The capability to invest is more than the user has in their bank account. For trading pairs, such as USDT/BTC, Bitget offers leverage of 125x, which means the user can create a position 100 times the amount they deposit. Therefore, even the slightest movement against their Bitget account will liquidate the position, and the user will be unable to access their funds.

3. Bitget key features

Innovative Products are provided by Bitget for users to trade without converting tokens. It also offers one-click copy trading, and it is one of the leading derivatives exchanges that support the USDC margin.

Industry-leading Security: Bitget protects the assets of investors in separate cold and hot wallets. According to their website, they have been awarded 12 A+ scores at SSL Labs. Investors can enable two-factor authentication before they are permitted to deposit money into the cryptocurrency exchange.

Excellent Customer Service Bitget offers its investors 24×7 multilingual online customer support. Also, it provides one-on-one support for its VIP customers and has reward centers for the crypto community.

Rewards Center are for those who complete a handful of tasks. The Reward Center consists of cash incentives and trial funds.

Bitget token BGB stands for Bitget Token, and it is an upgraded token from this broker. BGB has been changed and adjusted over the past few years, yet it still remains as the backbone of the Bitget ecosystem. There are a lot of benefits to trading BGB.

Lower trading fees Bitget charges 0.1 percent for any spot market trades made by both takers and makers. The fees are reduced to 0.08 percent if fees are paid with BGB.

Launchpad is a new platform launched by Bitget exchange for launching featured project token rewards. Users can win featured launching projects rewards by holding crypto assets or exchanging them. The most recent project they launched was Karmaverse (KNOT), a metaverse gaming platform with built-in blockchain technology.

4. Is Bitget regulated?

The site has an authentic HTTPS connection which means that all information and communications between users and the website are secure.

The massive traffic generated by the site has made Bitget one of the most well-known crypto exchanges, giving more reasons to be confident.

5. Advantages and Disadvantages of Bitget

Advantages:
  • Low trading cost fees.​
  • Buy cryptocurrency without fees.​
  • Copy trading feature.​
  • Supports over 150 coins and tokens.​
  • Has regulation licenses from Australia, Singapore, Canada, and the USA.​
  • Offers unified contract trading.​

Disadvantages:
  • Do not offer significant assets.​
  • Crypto is only a deposit and withdrawal method.​
  • Lesser-known exchange​

6. Is Bitget a Scam or Legit?




Bitget is a successful cryptocurrency exchange which offers users trade through the spot or futures market with very low prices. They also have obtained licenses from Canada, Australia, and the US.

Furthermore, there are over 2 million users registered on the platform. Thus the website of Bitget has an authentic HTTPS connection which means it is trusted and secured to provide personal information and trading there. To sum up, we believe that Bitget is a legit project and you can trust it to trade cryptocurrency on the Bitget platform.​
 

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