Bitget is a cryptocurrency exchange that offers trading in a wide range of digital assets, including Bitcoin, Ethereum, and many others. Bitget was founded in 2018 and is headquartered in Singapore, with offices in several other countries around the world. The exchange offers a range of trading tools and services to help users buy, sell, and manage their digital assets, and it also provides support for margin trading and other advanced trading strategies. Bitget is regulated by the Monetary Authority of Singapore and is committed to providing a safe and secure platform for trading digital assets.
Introduction
Based on the TrustPoilt information provided, it seems that the user had a negative experience with the copy trading feature on bitget.com. The user alleges that the professional traders, who are likely “bots,” open trades and let the user’s account be liquidated without closing the trade. The user warns others to be aware of this scam and advises against using the copy trading feature on any website.
Review from Customers
The overall rating of Bitget customer reviews is 2.3/5 stars. 61% of customers left negative feedbacks because of lousy product and service.
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Features
Deposit Withdraw and Transfer Fees
BitGet is a cryptocurrency exchange that offers a range of services, including deposit, withdraw, and transfer of cryptocurrencies. Withdrawal transactions to crypto addresses outside of BitGet typically incur a transaction fee or network fee that is paid to miners or validators who process the transactions and secure the blockchain network. BitGet withdrawal fees are dynamic and are based on the current network conditions. BitGet deposit fees are free for cryptocurrencies. The minimum amount for withdrawal varies depending on the cryptocurrency. New/unverified accounts have a withdrawal limit of 0.1 BTC per day, while KYC verified accounts have a withdrawal limit of 100 BTC per day. BitGet uses a maker and taker model to determine trading fees, with makers typically paying lower fees than takers. Please note that fees and other information provided here may not be up to date and it is best to contact BitGet directly for the most accurate and current information.
BitGet has a flat 0.1% trading fee for both maker and taker trades on the spot market, which is considered very competitive compared to other exchanges. These fees can be reduced to 0.08% if the trading fees are paid for in Bitget Token (BGB). Maker and taker fees are a common way for exchanges to differentiate fees between trade orders that provide liquidity (makers) and those that take liquidity (takers). Makers typically pay lower fees than takers. Please note that fees and other information provided here may not be up to date and it is best to contact BitGet directly for the most accurate and current information on their trading fees.
| Exchange Name | Bitget |
|---|---|
| Fiat Currency | No |
| Withdraw to Bank | No |
| Payment Type | Credit Card |
| Trading Fees | 0.1 % |
| Non Supported Countries or Places | Has Politic Issue |
Comparison
Service
Bitget Copy Trade
Based on the users feedback, the Bitget Copy Trade product is terrible. The products of Bitget are copied from other crypto exchanges like Binance, Bybit and BingX.
The user was recommended to use the bitget copy trading by a friend, but did not have the opportunity to receive bonuses as they did not complete the KYC process. The user tried copy trading, but found that it was extremely bad and resulted in their account being liquidated after a month. The user believes that this was a platform flaw rather than a trader flaw, and would not recommend the platform to anyone. Overall, the user gave BitGet a rating of 1 out of 10.
Security With Bitget
Bitget has faced accusations of poor asset security. In addition to suspicions of misusing users’ funds to invest in 3AC, Bitget has also reportedly taken risks by doing business with users in non-compliant countries, such as China and Korea. After the 3AC incident, Bitget did not conduct a fund audit to prove that it had sufficient reserves, but instead issued an insurance policy that promises compensation to users. This has raised further concerns about the security of users’ account funds on the platform. Some have speculated that a run on Bitget, similar to what happened with the exchange platform FTX, could be possible in the future. It is important for users to carefully consider the security of their assets when using cryptocurrency exchanges and to thoroughly research the platforms they choose to use.
Overall Scores
Pros and Cons of Bitget
The design of the Bitget website is very good, but it is obvious that except for the color, everything else is copied from Bybit.
Compared to Coinbase, Bitget’s trading fees are relatively low, but compared to other derivatives trading exchanges, they are quite high. Moreover, the trading fees are rebated to Bitget’s own platform currency, rather than to stablecoins such as USDT or USDC. This makes people feel that Bitget is not very credible.
It is said that because Bitget promotes a wolf culture, there are often problems with mutual customer grabbing within the company. It also often breaches trust with KOLs externally. Only the Korean market has grown because it relied on grabbing more market share from Bybit at the time. Overall, it is not a sustainable business for long-term development.
