Bitget is a Singaporean centralized cryptocurrency exchange (CEX). It's known as a social trading platform. Founded in 2018, the Bitget crypto exchange offers spot and derivatives markets, demo and copy trading, and direct crypto purchases.
The platform is KYC-compliant and requires ID verification to access financial operations. Customers from Singapore, China, The US and several other countries cannot access the Bitget spot or derivatives trading, nor other services offered by the platform.
Markets
Customers can trade by selecting from more than 400 Bitget trading pairs. Over 350 digital assets are listed. The markets support both crypto-crypto and crypto-fiat trading. Additionally, digital assets can be purchased using payment methods such as bank cards or via direct orders on the P2P marketplace. P2P orders are free of additional charges.
Aside from individual purchases, users can also participate in GroupCoin. This service allows buyers to join groups for a group order of crypto. Using this feature, it's possible to acquire digital assets for as little as half the market price.
Bitget hosts its native token of the same name (BGB). Users that hold BGB tokens in their accounts are eligible for discounted trading fee rates. You can learn more about the Bitget crypto price and market cap by clicking here.
While the Bitget spot and derivatives markets are the platform's two main services, it also offers a broad range of trading tools:
- Grid trading
- Copy trading
- Demo trading
- Trading bots
Grid trading is available for both spot and futures traders. It enables customers to trade multiple buy/sell orders within the selected Bitget crypto price range. Users can generate their preferred grid settings manually or use automatic recommendations.
One-click copy trade is a function that allows users to follow the strategies used by other traders. They can preview the trades placed by the most prominent Bitget traders and select which strategy they want to copy. Additionally, users can join the Star Trader Recruitment program to headhunt new large traders to join the user base.
Demo trading is a service available for futures traders. Following the market data, users can place orders as they would in the regular futures market. The demo tool runs a simulation of the order's outcome. Demo trading reduces the risk of losing assets while testing trading strategies.
Trading bots provide an automated trading option that allows users to trade around the clock without the need to actively monitor the market. Instead, a bot is set up to automatically place orders and conduct transactions.
The futures market on the Bitget cryptocurrency exchange offers three types of margined contracts with up to 20x leverage:
The spot market is free from any Bitget exchange fees. This applies to both regular and grid trading. Individual users may also be eligible to earn additional benefits, such as free tokens and VIP upgrades. Trading fees and conditions can be changed at the company's discretion.
Futures contracts are traded at a fixed maker-taker rate of 0.020% and 0.060%, respectively. VIP users pay based on a five-tier structure. The VIP level is determined by the 30-day futures trade volume or assets in possession. All values are denominated in USDT. An additional discount applies to BGB holders.
There are no Bitget crypto fees on crypto deposits. The withdrawal fee and minimum amount may vary based on the selected asset. Bitget provides live updates regarding the suspension of deposits and withdrawals.
Other Services
In addition to the Bitget cryptocurrency exchange, users can access other financial services and benefit programs. The Rewards program allows users to complete daily tasks and earn monetary rewards, such as tokens and coupons.
Bitget Savings is an interest-earning program. Customers can deposit crypto assets to one of the selected contracts and earn back based on the terms. You can choose between fixed and flexible contracts. It's possible to automatically set up Auto Transfer to deposit assets from the Bitget spot account.
The Bitget Launchpad is a platform to support new and upcoming blockchain-based projects. Investors can buy tickets using BGB to earn early access to the projects or receive tokens as a reward for their contributions. Bitget Launchpad is not to be confused with Bitget Launchpool, which is a stake-and-earn service.
BGB Earn is a yield farming service. Users can stake their BGB tokens to earn passive rewards. This service required KYC compliance. The typical staking duration is 3 or 7 days. The minimum Bitget crypto price value to start staking is 100 BGB, while the upper limit is 100,000 BGB.
About the Company
The Bitget crypto exchange was founded by Sandra Lou in 2018. The company headquarters are registered in Singapore.
In March 2020, the company obtained licensing from the US Financial Crimes Enforcement Network (FinCEN). The Money Service Business License (MSB) grants the exchange permission to run the Bitget spot and derivatives trading in the US.
In the first half of 2020, it was reported that the average daily Bitget trade volume was $1 billion, making it one of the biggest exchanges in the world based on this metric at the time. At the time, it had over 800,000 users.
In March 2020, following the change in regional policy, the exchange received permission to operate temporarily without a license in Singapore. In December 2021, the Monetary Authority of Singapore (MAS) suspended Bitget due to a dispute over a token that was labeled as a scam.
Over the years, the company signed several collaborations with sports teams. The first partnership was with the Italian team Juventus FC in 2021, followed by a deal with the Turkish soccer club Galatasaray SK the following year.
In April 2022, it was announced that the Bitget crypto exchange would become available in India. In September of the same year, the platform ranked as the third-largest derivatives exchange in the world.
According to reports, by 2022, the user base consisted of more than 2 million registered accounts. According to representatives, the Bitget volume increased tenfold within a year from H1 2021 to H1 2022, while the daily volume peaked at nearly $8.7 billion.
Sandra Lou is the CEO of the Bitget cryptocurrency exchange. Before switching to crypto, she spent nearly a decade working with operations management and market growth in traditional finance. In 2018, she became the CEO of BitZ and went on to the Bitget project months later.
