Bitget, one of the major crypto exchanges, has shown rapid growth in recent years. It has announced the listing of Pi Network Token (Pi) on its platform, with trading starting from February 20.
Bitget has confirmed that the trading for the PI/USDT pair and PI will be featured in its innovation, Web3, and public chain zone. It is also expanding the utility of its native token BGB, together with the launch of a limited-time BGB onchain staking program on Morph chain.
BGB is evolving into a bridge connecting onchain ecosystems and real-world applications. The market capitalization of BGB has soared over 1000% in 2024. This surge is a testament to the token’s strong use cases and the success of Bitget’s platform, which offers a wide range of services including fiat, spot, margin, and futures trading.
In this article, we will learn about one of the top crypto exchanges- Bitget, its features, security measures and its pros and cons.
What is Bitget?
Established in 2018, Bitget is a global cryptocurrency exchange and Web3 company. With over 100 million users in 100 plus countries and regions, Bitget aims to provide a platform for trading with access to over 550 cryptocurrencies.
Bitget is registered in Seychelles, which they cite as a “friendly region for the crypto community”. It offers more than 800 trading pairs in addition to a number of other cutting-edge features like copy trading and strategic trading.
The exchange has gained popularity due to its core focus on social trading, which has enabled it to attract more than 1.1 million users, and over 55,000 professional traders from over 100 countries through its flagship product, OneClick Copy Trade.
It provides users the option to buy cryptocurrencies using fiat currencies from a variety of payment partners, including Simplex, Banxa, and others. Currently, the price of Bitget’s native token BGB is $5.08 with a market cap of $6.09 billion.
Bitget Exchange Overview
| Headquarter | Seychelles |
| Established | 2018 |
| Native Token | BGB |
| Platform Security | High |
| KYC/AML Verification | KYC Verified |
| Currency Support | 140+ |
| Deposit and Withdrawal Method | Buy crypto using debit/credit cards, Apple Pay and Google Pay Deposits through crypto, GBP, EUR, and BRLWithdrawals through crypto, GBP, EUR and BRL |
| Regulation | Poland- Virtual Assets Service Provider (VASP)Lithuania- VASP |
Key Features of Bitget Exchange
Bitget has been growing rapidly and hence, its popularity is rising. Below are the main features of Bitget.
Copy Trading
If you’re new to trading, you can automatically copy the trades of experienced traders. For beginners, it’s a great way to learn without the need of extensive knowledge. For the users with limited time, it is a way to benefit from expert strategies. It can open new streams of passive income.
AI Trading Bots
Users no longer need to manually place transactions or keep an eye on the cryptocurrency market. Bitget has introduced a suite of AI-powered trading bots to make automated trading accessible to its users. AI tools predict market movements, run automatic trading strategies, and help users in managing their risk properly.
Spot Trading
Bitget provides spot trading for over 500 coins, allowing users to essentially purchase and sell virtual currencies. The platform’s sophisticated charting and user interface make trading incredibly simple and efficient for all users.
Web Trading
Provides a user-friendly interface with powerful tools for comprehensive trading activities, accessible via any web browser.
Security
Users’ funds stay safe through multiple security layers, offline storage, and various other tools that help manage your risk. This protects both the fund and personal information from hackers.
Margin Trading
Bitget allows traders to boost their market exposure by offering margin trading, which allows them to trade using borrowed funds. Although margin trading can yield substantial profits, it could be risky for novices.
Bitget Wallet
The wallet provides a collection of on-chain products, including decentralised finance (DeFi), decentralised applications (DApps), metaverse services, including Bitget Swap for seamless token exchanges, asset management, smart market data, trading, launchpad, data inscribing and dApp browsing.
Spot and Future Trading
Bitget enables its users to trade at the current market price of the cryptocurrencies and also permits speculation on the future price.
Bitget Native Token BGB
The native utility token of the exchange is known as BGB. This ERC20 token can be staked for 6% APR, and can be used to facilitate trading, and lower platform trading fees. In contract trading, the BGB token may be utilised as a contract margin.
- Bitget provides a 20% discount on all spot transaction fees if users choose to pay with BGB.
- In contract trading, the BGB token may be utilised as a contract margin.
- Reward tokens for Trade-to-Earn schemes.
- Utilizing BGB margin on the coin-margined futures lets the users obtain a 15% discount on the expenses.
- The Bitget token can be used by traders to access certain launchpad features and secure possible partnership opportunities.
Security & Safety Measures
Bitget takes security seriously by using multiple layers of protection to safeguard users’ funds and information. They use two-factor authentication (2FA) when a user log-in or withdraw funds, and have special codes that help to spot fake websites.
Mostly the funds stay in offline storage, which keeps them safe from hackers. When a crypto exchange suffers a security breach or other incident that results in the loss of user funds, the insurance fund is activated to cover the losses. Also, the platform follows KYC and AML checking procedures, which help in preventing frauds.
Advantages and Disadvantages of Bitget
| Advantages | Disadvantages |
|---|---|
| Competitive Fees: Both maker and taker fees stand at 0.10%, which is quite cheap. | Regional Restrictions: Bitget doesn’t allow users and has a list of prohibited countries, including the United States, the United Kingdom, and Canada, to use their services. |
| Trading: From an operational view, Bitget’s core USP is its spot trading derivatives and copy trading features. If you’re a beginner, you can copy the trades of experienced traders. | Mandatory KYC: Bitget mandates that all new users undergo identity verification upon registration. |
| User-Friendly Design: The interface design of the platform is quite simple yet functional for both the first-time user and the experienced trader. | Customer Support Issue: There have been several complaints of slow response from Bitget’s support team. |
Conclusion
Bitget is a multifaceted cryptocurrency exchange that can be used by both novice and seasoned traders. Bitget is a strong exchange due to its trading volumes and useful tools.
The sophisticated trading interface, exquisitely designed UX/UI, and one of the top copy trading platforms in the market- all of this have contributed to the exchange’s growth and rising popularity. It provides quick access to the core trading products, such as spot trading, margin trading and many more.
Bitget tries to make things easy for everyone, from beginners to professionals, ensuring security and fair fees. This helped it to rank among the top five exchanges for trading futures, adhering to strict security guidelines.
