Exploring Bitget: The world’s up-and-coming crypto exchange

Bitget is a rapidly growing cryptocurrency exchange registered in Seychelles that has become the world’s largest crypto copy trading platform. Established in 2018, Bitget now serves over 25 million registered users globally and boasts an impressive $10+ billion USDT daily trading volume. 

With a global team of over 1,300 employees from 60 countries, Bitget is expanding its offerings and trading tools beyond copy trading.

Key Services

Spot & Futures Trading

In addition to copy trading, Bitget provides spot trading for over 800 cryptocurrency pairs and futures trading with up to 125x leverage, including BTC, ETH, SOL, and more. The trading interfaces integrate advanced TradingView charting capabilities, allowing users to conduct technical analysis and execute trades seamlessly on the same platform. In 2023, Bitget’s overall yearly trading volume reached $3.14 trillion as year-on-year spot trading volume surged by 94%.

Copy Trading

Copy trading is Bitget’s flagship product and key differentiator. As the world’s largest copy trading platform, Bitget hosts over 110,000 traders that others can copy, with over 400,000 copy traders currently using the service.

Copy trading allows new or inexperienced traders to automatically replicate the strategies and trades of seasoned professionals, providing a low-risk way to trade with elite crypto traders without having to monitor charts or risk manual mistakes themselves.

Bitget offers four main types of copy trading: futures trading, spot trading, copy trading bots created by experts, and skilled traders who can create and rent out their trading bots. The platform’s copy trading system is incredibly flexible, allowing users to filter and choose who they copy based on metrics like returns, assets under management, risk profiles, etc. 

Elite traders can earn up to 8% of the profits generated by their followers, incentivizing them to develop successful strategies and portfolios. Aside from the profit sharing mechanism, copy trading is free for followers with no extra fees beyond standard trading fees, lowering the barriers to entry.

With intuitive apps and websites, robust technology infrastructure, and a rapidly growing community, Bitget has made copy trading accessible and popular. The exchange’s vision of a more equitable future with crypto facilitated by social trading and wealth sharing has been a significant driver of its growth.

Launchpad

Bitget also operates a curated Launchpad that offers early investment access to promising new crypto projects before they are listed on major exchanges. This allows Bitget users to get in early on potential groundbreaking projects.

Bitget Wallet

In addition to its leading exchange platform, Bitget has developed the Bitget Wallet as an all-in-one solution to access the entire Web3 ecosystem. As a fully non-custodial wallet, Bitget Wallet prioritizes decentralization and utility, offering users a secure repository to store their crypto funds and a swift avenue to capture new assets and opportunities on-chain.

Tightly integrated with the Bitget exchange, the wallet enhances the platform’s trading capabilities while expanding functionality to include token swaps, intelligent market data displays, a dApp browser, a launchpad, inscriptions, and one of the largest NFT markets on Web3. Bitget Wallet currently supports over 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. By aggregating liquidity across hundreds of top DEXs and cross-chain bridges, Bitget Wallet facilitates seamless and efficient trades on nearly 50 blockchains. 

With over 20 million users worldwide, Bitget Wallet has become the fourth-largest Web3 wallet globally. Additionally, its swap order volume has recently exceeded that of MetaMask, placing the wallet as one of the most popular options for trading. 

By combining its thriving exchange platform with the robust capabilities of Bitget Wallet, Bitget aims to provide a comprehensive all-in-one ecosystem for accessing cryptocurrencies, trading, NFTs, and Web3 applications from a single point of access.

Fees & Security

Fee Structure 

Bitget aims to provide a low-cost trading environment with competitive fees. There are no deposit fees; spot trading fees are just 0.1% for makers and takers (20% discount if using Bitget’s BGB token). Futures trading fees are lower at 0.02% for makers and 0.06% for takers.

Security Measures

Security is a top priority for Bitget. The exchange employs robust security practices including publishing Proof of Reserves, maintaining a $585+ million protection fund with public wallet addresses, using cold wallet storage, and supporting advanced features like two-factor authentication. Bitget has received 12 A+ security ratings from SSL Labs.

Native Token

The Bitget ecosystem is powered by the BGB utility token, which operates on the Ethereum blockchain (ERC-20 standard). BGB can be used to reduce trading fees, earn staking rewards up to 6% APR, and participate in other platform initiatives. BGB can be acquired through spot trading, fiat purchases, or converting small balances. In February 2024, it was ranked as the second-largest exchange token by trading volume in TokenInsight’s Exchange Token Review.

Global Accessibility 

Supported Currencies

One of Bitget’s key strengths is its global accessibility and support for over 40 fiat currencies for purchases and bank transfers. Users can buy over 250 cryptocurrencies directly using credit/debit cards, Apple Pay, Google Pay, and various local payment options through Bitget’s fiat onramps.

KYC Requirements

To ensure a safe and compliant trading environment, all Bitget users must complete Know Your Customer (KYC) identity verification when signing up. Providing official documentation like a passport or ID unlocks full trading capabilities.

The Future of Bitget

Looking ahead, Bitget continues pushing innovative features and global expansion to solidify its position as the leading crypto copy trading platform and spot and derivatives exchange. Some future initiatives include:

• Timely listing of latest cryptocurrencies and trading pairs
• Expanding fiat onramp payment methods in more regions  
• Developing new products like crypto interest accounts
•  Expand CSR initiatives such as Blockchain4Youth and Blockchain4Her
• Enhancing the user experience with better charts, AI-empowered tools, and education

With a rapidly growing user base, low fees, strong security practices, and a wide array of crypto trading services, Bitget is well-positioned to maintain its status as the top copy trading platform while evolving into a comprehensive global crypto exchange.

The post Exploring Bitget: The world’s up-and-coming crypto exchange appeared first on CryptoSlate.