Bitget Review 2024 – Is It Safe And Trustworthy

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In this Bitget review, we discuss the Bitget exchange, its features, and whether it’s a good fit for you. We also assess its security infrastructure to ensure your funds are safely protected.

Bitget is a centralized cryptocurrency exchange that lets you trade (buy and sell) 866 cryptocurrencies across 958 trading pairs. 

It has 20M+ users across 100+ countries and secures 4.1% of the total centralized exchange market, ranking the seventh largest by market share trading volume. 

After several hands-on tests of the exchange, we found it offers several competitive trading features that likely contribute to its popularity.  

Below, we explore the exchange’s interface, security protocols, and fee structure. This Bitget exchange review explores what sets it apart from its competitors. 

Bitget Pros And Cons

What Is Bitget & Who Is It For?

We especially liked the desktop’s user-friendly interface and features that makes it suitable for new and old traders alike. 

One of Bitget’s standout features is its copy-trading, which is ideal for novice traders that need a more permissive introduction to crypto trading.

Bitget supports over 600 cryptocurrencies, including top meme coins and 900+ spot trading pairs, and charges a 0.1% spot trading fee for regular users (non-VIP). 

While many exchanges have higher fluctuating spot trading fees (like Upbit’s 0.2% spot fees), Bitget is more cost-effective and straightforward, as it ensures cost predictability through a flat fee.

Demo Trading is another helpful feature for crypto newbies. Trades can be made using virtual assets, so there’s no risk of financial loss when learning the platform’s ins and outs.

Bitget also offers trading bots for different trading strategies and risk profiles, regardless of your crypto know-how: 

Bitget was also nominated as a finalist in the ‘Best in Crypto’ category at the 2023 Fintech Finance Awards (FFA) thanks to its ‘commitment to excellence and innovation in a continually evolving financial landscape. 

The exchange became more popular after Bitget sponsored Juventus’ women’s football team and Lionel Messi became its Brand Ambassador.

Many crypto exchanges have celebrity ties, like Crypto.com’s spokesperson (Eminem) and FTX’s ambassador before its collapse (Naomi Osaka). It appears Bitget is capitalizing on this trend to garner attention. 

Is Bitget Safe to Use & Trustworthy?

After using Bitget and testing its security infrastructure, we’ve determined the exchange to be safe for trading and holding crypto.

Below, we go into more detail about Bitget’s security standards.

2FA / Biometric Authentication

When signing up for Bitget on mobile or desktop, you will be prompted to use your email address before being sent a verification code.

For mobile users, Bitget advises downloading Two-Factor Authentication (2FA) for identity verification and protection. Its website offers a step-by-step guide for setting up the 2FA Google Authenticator. 

Though using 2FA takes longer to log into your account, considering some users have around $1.5M worth of crypto stored in their wallets, it’s better to be safe than sorry. 

We liked that Bitget has facial and fingerprint recognition. This feature analyzes and compares your facial features and fingerprint patterns to ensure that only the user can access the exchange and shorten log-in times. 

No Significant Hacks

Also likely contributing to Bitget’s success is that it has not faced any significant hacks, unlike KuCoin, which had $281M worth of assets stolen from its platform in 2020 because it did not implement sufficient security measures to protect hot wallets.

Bitget’s multi-layered security approaches are crucial in ensuring the safety of your assets. Even if one security measure is compromised, Bitget has additional layers of protection in place to safeguard your assets. 

This has prevented a Bitget scam from occurring. Crypto exchanges are no strangers to facing scams. For example, Mt. Gox declared bankruptcy in 2014 after thousands of Bitcoins were stolen from its platform. Only recently has it started paying back $9.3M worth of $BTC to its former customers. 

In 2022, it created a protection fund that now amounts to $300M to protect users’ crypto assets and transactions, split between $BTC, $USDT, and $USDC.

However, Binance – another centralized exchange – has a much larger fund of $1B, giving users a greater level of protection. 

Withdrawal Whitelist

Bitget’s withdrawal whitelist prevents you from withdrawing crypto to any external address until you specifically ‘whitelist’ that address in the wallet. 

This mitigates the risks of unauthorized financial transactions and is one of the most underappreciated security features we’ve found.

The downside is the 24-48-hour waiting period between whitelisting an address and being able to withdraw your funds, which can be frustrating. 

Device Management and Activity

The device management tool lets you control which devices can access the platform, acting as another security shield against unauthorized entities. 

You can also quickly review your login and activity histories to watch for anything abnormal. 

Anti-Phishing Code

The anti-phishing code acts as a unique identifier for Bitget emails to ensure their authenticity. By checking for it when receiving official Bitget emails, you can determine if they’re genuine or sent by imposters posing as the exchange.

Malicious actors typically impersonate exchanges like Bitget for financial gain, and we found the anti-phishing code to be a useful security measure.

Passkeys

When signing up to Bitget, you can create a passkey as another form of security. A passkey is a digital credential tied to your Bitget account that offers a more user-friendly and secure login experience (through cryptography). 

Passkeys are safer than passwords because they are phishing-resistant and harder to crack.

They’re device-specific credentials that don’t require you to leave the app, unlike authenticators (like Google Authenticator). 

Security Key Support

In a blog post, Bitget advises using security key support for Bitcoin and Litecoin investments, in particular. 

A security key is a physical hardware device, like Yubikey that protects against unauthorized access to your crypto account. 

These devices require physical confirmation (like pressing a button or scanning your fingerprint) to access your account, making unauthorized access almost impossible. 

Bitget – What Are The Key Features?

To help you decide if Bitget is right for you, we’ve tested its features (including margin trading and staking). Below, we offer our impressions on this exchange’s versatility.

Coin support

Our testing showed that Bitget supports 958 trading pairs and 856 coins – 590 of which are tradeable. This includes major cryptocurrencies, like meme coins and stablecoins: 

The exchange’s homepage highlights the most popular cryptocurrencies in real time by volume, gainers, and newly listed. 

This will likely increase user confidence in making successful trades, as it gives you real-time information that helps you make better investment decisions and capitalize on time-sensitive opportunities.

However, the crypto realm is volatile, so it’s still crucial to DYOR beforehand.

Spot Trading

Bitget offers an extensive spot trading market, which involves the immediate buying and selling of cryptocurrencies at their current market price.

Traders typically engage in spot trading (also known as active trading) to profit from daily price fluctuations. For example, if you want to buy $BTC below the current market price, you would enter the price below the market price and wait for it to drop before buying. 

You can use trigger orders to automatically buy or sell a coin based on specific conditions. Bitget also offers limit orders to expand your trading experience.

We especially liked that Bitget has over 300 trading pairs available through its ‘Bitget Spot’ and regularly adds more.

Moreover, we like how the spot trading fee for each trade is just 0.1% for both makers and takers. Other leading centralized exchanges (like Kraken) charge considerably more (0.25%). 

Bitget’s low spot trading fee likely attracts more traders, which in turn increases liquidity. Offering a set price also helps investors make more transparent and stable trades. 

The exchange also encourages spot trading through its ‘Elite Traders Leaderboard,’ which highlights all top spot and futures traders, creating a competitive atmosphere. 

Futures Trading

Bitget also offers futures trading, which is the opposite of spot trading. Instead of trading at the current market price, you trade at a future price on a specific end date. 

Futures trading contracts allow investors to hedge against market swings and speculate on future price movements.

Bitget’s futures trading fees are higher than its spot trading fees – 0.02% maker and 0.06% taker.

These higher fees are in place for a reason. Futures trades are riskier investments, so the fee structure is designed to manage market dynamics more efficiently. 

While we understand the reasoning behind the higher fees, other CEXs offer more affordable futures trading, making them potentially more appealing to futures traders. For example, MEXC futures trading fees for makers is 0% and 0.1% for takers. 

Staking

We liked how Bitget’s staking is ideal for investors who likely want a more hands-off, conservative approach to earning passive income.

Staking means allocating your assets to a staking pool that validates transactions. This contributes to the blockchain’s resilience, and in exchange, you receive token rewards.

We were especially impressed with the up to 300% staking APY on over 100 cryptocurrencies. Other perks include: 

Margin Trading

With Bitget’s margin trading, you can aim for higher returns even if you only have limited funds. 

By depositing a part of the total trade value through Margin Trading (which serves as a liquidation safeguard), you can open a larger trade using the exchange’s money, significantly improving your potential profits. 

Bitget will update you about your profits or losses in real time. These can help you make better investment decisions and adjust your trading strategies according to fluctuating market conditions.

If your funds drop below a certain level, you must deposit more money or close the position to prevent the platform from automatically liquidating your position. 

Such real-time updates are helpful in making better investment decisions and promptly adjusting your trading strategies according to fluctuating market conditions. 

We especially like the simplicity of Bitget’s Margin Trading. You need to transfer the funds from your main account into a Sport Margin account, which you can do with the ‘Transfer’ function. 

You can read more about Bitget’s margin trading here.

Wallet

Another valuable Bitget feature is the Bitget Wallet (previously BitKeep), which integrates a variety of Web3 features (like dApp browser and NFT market) that offer a safe and convenient trading experience for all crypto users.

Its multi-chain function (including Bitcoin, Ethereum, and Polygon) broadens the platform’s reach, leading to 12M users across 168 countries, 90+ mainnets, and a wide variety of DApps. 

Another Bitget wallet highlight is its NFT marketplace, which simplifies the process of purchasing, selling, and trading NFTs, and offers special discounts on popular tokens. 

Creating a BitGet Wallet takes approximately one minute, and it is available in both mobile and browser extension versions. 

Custodial Exchange

Centralized exchanges (CEXs) like Bitget are custodial exchanges, as opposed to decentralized exchanges (DEXs), which are non-custodial.

With CEXs, the exchange holds the users’ private keys. Conversely, DEX users are in complete charge of their assets because they hold their private keys themselves. DEX users likely live by the motto ‘not your keys, not your crypto,’ which is understandable given the rising number of crypto scams. 

While custodial exchanges are sometimes risky (look at the FTX fiasco), they can restore access to your funds if you lose your credentials, adding significant convenience to your trading experience. 

Non-custodial exchanges require personal responsibility – passkeys, seed phrases, and passwords can easily be forgotten. Once you lose access, it’s almost impossible to regain it.

Bitget locks all digital assets in a custodial wallet to ensure each asset is securely managed and accounted for. This reduces fraudulent activities and stabilizes the exchange, building community trust. 

KYC

Like most CEXs, Bitget requires you to undergo KYC verification to comply with local laws and regulations. 

KYC is necessary to unlock numerous features, like: 

This type of verification reduces the risk of your funds being stolen. By ensuring all user information is legit, it discourages fraudulent accounts and illegal activities. 

We found Bitget’s KYC process similarly intrusive to that of other exchanges. You have to upload your ID information, complete face recognition, and pass identity verification to access the platform’s features. 

Fortunately, it only took ten minutes to set up.

After you complete the KYC, you can get a 50 USDT bot position voucher to enjoy automated free trading.  

To summarize, Bitget copy trading is handy for new traders, enabling them to copy the trading strategies of more experienced traders and bots.

By doing so, they can potentially benefit from their trading decisions without having to analyze trading charts closely, which may be overwhelming at first. 

The exchange has over 165K traders using the Copy Trading feature and 800K followers, with the Realized PnL (Profit and Loss) amounting to $530K, showing significant copy trading activity. 

Realized PnL evaluates the success of a crypto trading strategy. It measures the net profit and loss generated over a certain amount of time.

Bitget Trading Fees – Are They Affordable?

What sets Bitget apart is that it doesn’t charge a fee for depositing crypto and has an affordable and straightforward fee structure. 

Bitget is among the most affordable CEXs, with only OKX and MEXC offering more favorable conditions. New traders will find Bitget to be a good exchange to learn trading on.

Bitget Interface – Is it Easy To Use?

Ease of use is an essential decision factor for many crypto enthusiasts who want to start trading and get their feet wet in the crypto world.

Bitget may seem intimidating at first because of the broad range of options, performance metrics, TradingView candlestick graphs, and technical terminology. 

However, you don’t need to get bogged down by technicalities, as Bitget offers many resources to help you learn how to trade and leverage its tools:

Bitget’s mobile app is also fairly extensive, and we liked the comprehensive yet intuitive interface that gives you real-time data in a clean format.

Bitget Customer Support – Is It Helpful?

Bitget offers 24/7 multilingual support (including Arabi, Chinese, Korean, and Indonesian) through a live chat to assist customers from across the globe. 

When we asked the chatbot ‘How to make a deposit?’ it answered us within seconds. We also received a clear and detailed answer to our query.

The bot was decently helpful and provided accurate information that a new user would be satisfied with. However, we feel it doesn’t do a stellar job with more complex queries.

It’s also easy to get ahold of Bitget’s customer support team via email. You can find their contact email through a simple Google search.

We liked that Bitget doesn’t make you jump through many hoops to get in contact with them. Their reply time is also decent, based on reviews we’ve read.

Bitget vs Other Crypto Exchanges

Choosing a suitable crypto exchange for trading, buying, and selling cryptocurrencies can be tricky. You need to consider many factors (like trading fees, coin support, and security), research every exchange’s background, and compare all offerings for a good fit.

To help you decide, we have compiled a list of the top exchanges and compared them to Bitget. 

Bitget remains an attractive choice because of its passive income opportunities, solid security, transparency, and commitment to user onboarding through learning materials and copy trading bots (like OKX and Margex). 

OKX’s native TradingView integration and MEXC’s excellent liquidity are also worth considering, though Bitget is an all-rounder that does a good job in most departments.

Bitget Reviews – What Are People Saying?

Beyond our experience with Bitget, we also looked at user reviews on Google Play and Reddit to understand the community sentiment surrounding the exchange. 

Bitget is highly regarded by Android users, who give it a 4.5-star review. Many 5-star reviews complement Bitget’s user-friendly interface and helpful guides and tutorials. 

Other users found Bitget’s deposit feature intuitive, something we also noticed. You only need to copy the deposit address or scan a QR code to transfer crypto from another crypto wallet or exchange. 

Bitget has also been hyped up on Reddit for being one of the best exchanges for its excellent onboarding process that helps users get up to speed with trading essentials quickly. trading experience. 

Others users have had issues with getting the 2FA codes via SMS but customer support was quick to respond and solve the problem.

Overall, Bitget seems to have positive reviews, and community sentiment is looking good. We also found customer support to be helpful, and the platform offered an intuitive trading experience.

Why You Can Trust Our Bitget Review

Our Bitget review relies on hands-on testing to offer you first-hand experience in the exchange and valuable insights regarding onboarding and trading fundamentals. 

We also know what to look for, as we’ve tested many CEXs (like OKX and MEXC), analyzing their fee system, customer support responsiveness, and trading ease of use to provide you with trustworthy comparisons. 

By offering you a well-rounded review and supporting it with industry experience and knowledge, we give you the relevant information you need to decide on the best exchange to use. 

How To Use Bitget – A Step-By-Step Guide

Follow the steps below to see how to learn the trading fundamentals on Bitget.

Step 1: Visit the Bitget website and click ‘Sign Up’ in the right-hand corner

Open the official Bitget website and select ‘Sign Up’ in the top-right corner.

Step 2: Create an account

Entering your email and a safe password or by using your phone number and password. You can also sign in using your Google account, Apple account, or crypto wallet like MetaMask or Bitget Wallet. 

Step 3: Verify your account

If using your email or phone number to log in, verify your account by entering the six digital codes sent to your email or phone. In our experience, this process took seconds. 

Step 4: Complete the anti-phishing Verification

Once you press the ‘Log In’ button, you will be promoted with an Anti-Phishing verification that shows the official Bitget links to ensure you don’t log into a fraudulent website. 

Step 5: Create a passkey

When gaining access to Bitget for the first time, you will be asked to create a passkey and complete identity verification (KYC) immediately.

Step 6: Start trading

Once creating a passkey and completing the KYC, you will have full access to the exchange’s features, including crypto withdrawals, deposits, P2P trading, and fiat deposits. 

We found the setup process seamless to start trading with confidence and ease. 

Bitget Review – Final Thoughts

Bitget is a popular CEX with 20M users worldwide and a wide range of cryptocurrencies and trading pairs. 

Standout features we found appealing include:

The exchange’s features, particularly advanced trading tools, its low trading fees and robust security protocols make it an appealing choice. 

Many ask, ‘Is Bitget legit?’ and our findings confirmed it is. However, users should be aware of regional restrictions and potential frozen accounts if engaging in suspicious activity.

It’s also important to DYOR before investing in crypto because the industry is a volatile space. 

FAQs