Nutty

Bitget

review

Is it any good?

Edward Savage
Personal Finance Editor
Updated
May 19, 2024

In a nutshell

Bitget is a great crypto exchange, and super popular worldwide. It offers the full works – from simple crypto purchases, all the way to advanced trading features (such as leverage trading), and is very low cost. It’s also the largest crypto copy trading platform (where you can copy expert traders).

Nuts About Money rating

Bitget rated 4 stars

Bitget

cracked open

You might not have heard of Bitget just yet, but they’re actually one of the largest crypto exchanges in the world – with a whopping 20 million customers, trading over $20 billion per day.

It’s been around since 2018, and has now become the largest ‘copy trading’ platform for crypto (that’s where you can copy what the experts do) – there’s now over 130,000 expert traders to copy, so a huge range of trading styles to copy and learn from.

It's also a great exchange to buy, sell and trade crypto yourself, either buying crypto directly, or trading futures (the price of a cryptoasset, more on that later). There’s over 600 coins to trade (a lot), with new ones added regularly.

Bitget review

And, there’s even more features, such as staking, a crypto wallet, and even trading bots (more on that later too).

Overall, it’s reliable, fast and works seamlessly – super important for crypto traders, where prices can move super fast. There’s also loads of liquidity (trading volume), thanks to the millions of traders using the platform.

It’s also very low cost too, with some of the lowest fees out there for an exchange (more on fees below).

If you’re keen to get started, here’s the Bitget website, otherwise let’s dive into the details…

Note: crypto (cryptocurrency) often uses different terms for the same thing, so crypto, a coin, a token, or cryptoasset all mean the same thing. For instance, you could use all those terms to describe bitcoin.

Is Bitget good for beginners?

Bitget is pretty great for beginners. It’s easy to use, and you could be up and running in just a few minutes.

However, it can be a bit overwhelming if you’re brand new to crypto (and investing), as it’s predominantly a crypto trading platform (also called an exchange) – it’s designed for customers to buy and sell crypto frequently, or as much as they like.

Of course, you can also simply buy and hold crypto for a long period of time too, but there’s lots of features to navigate through – but don’t let it put you off.

If you do want to trade regularly, you’ll pick it up after a short while (and keep learning). There’s a good amount of resources to help you learn, all on the Bitget academy, with guides to walk you through the basics of crypto and the Bitget platform itself.

Bitget academy

And, Bitget is the leading platform for copy trading, where you can simply copy the pros!

Note: Bitget offer a free demo account to get used to trading on the platform before you use real cash.

Bitget copy trading

Crypto copy trading is super popular around the world, with Bitget having over 130,000 expert traders you can copy and learn from.

Bitget copy trading

Copy trading is where you copy the trades (buying and selling) of successful traders – who are happy to share their trading activities with other users of the platform.

You can see lots of information about the trader, all of their trades, how much they’ve earned (or lost, ouch), how often their trades are successful, if they’re on a winning streak, and their total return on investment (ROI), which is how much they’ve made overall.

Bitget TraderPro

You’ll be able to automatically copy the trades of the traders you like, so when they make a trade, so do you. This can make things a lot easier if you haven’t devised your own winning trading strategy yet, and you can learn what works and what doesn’t.

Nuts About Money caution: you may end up losing money too – if the trader you copy doesn’t make successful trades, so make sure you keep on top of what's happening with your trades.

Bitget trading platform

Let’s talk about the actual trading platform itself – if you’ve traded crypto before, you’ll likely be familiar with how it looks, the set up, and the layout. It’s pretty much the classic crypto exchange view.

You’ve got the main chart, with the current and historic price(s), alongside the trading volume.

You can then add and customise the display with more information if you’d like.

Bitget trading platform

You’ll also get the order book, which shows the current buy and sell orders for the specific crypto you’re looking at. And the recent trades.

If you haven’t traded before, don’t worry, you’ll soon pick it up – it’s fairly intuitive, and remember there's lots of resources to get you up to speed.

There’s also a range of trading tools, such as limit orders (setting a price to buy and sell at), stop-loss orders (setting a price to sell at if a trade isn’t going your way), and take profit orders (selling a price to sell at automatically). Plus, loads of more related trading features to help you trade more profitably.

If you’re a super advanced trader, you can even build your own trading systems via the Bitget API.

Bitget trading bots

Bitget also offers trading bots, where you can set up automated trades without having to use your own software or code yourself. It’s all pretty smart.

Bitget trading bots

If you’ve got winning trading strategies, you can automate everything, so you can make the most of them 24/7. Simply set up the rules, and the trades will execute when the rules are triggered (e.g. buy or set at a certain price when certain things are met, such as low trading volume, or a range of technical indicators).

If you haven’t got any winning strategies yet, there’s a whole range of trading bots you can copy too.

Bitget range of investments

There’s a wide range of crypto investment options available with Bitget, from simply buying and owning the crypto directly (often called spot trading), to futures trading (trading something linked to the price of a cryptoasset).

Overall, there’s 600+ coins to trade (that’s quite a lot), and new ones added all the time, following a review process to prevent any scam tokens being listed (although no guarantees). And new ICO (Initial Coin Offerings) listings regularly (new projects launching a token).

There’s the major coins, of course, such as bitcoin and ethereum (ether), and a wide range of various coins relating to projects, and even meme coins.

Futures trading

Future trading is incredibly popular in crypto, and it’s where instead of buying the cryptoasset directly (e.g. bitcoin), you instead use an exchange (like Bitget) to trade the price of the crypto in the future.

This makes trading not only easier (as you don’t need the coin to change hands every time), but also cheaper via reduced fees.

And, importantly, allows for advanced trading strategies such as trading both price directions, so going long (price going up), and going short (price going down).

Plus, leverage trading (also known as margin trading), which is trading with more cash than you actually have (effectively borrowing money from the exchange to make a larger trade than you otherwise could).

Bitget margin trading

Leverage trading

Leverage is where you can trade with more money than you actually have in your account – you essentially use your account balance as a deposit to borrow and trade with more. For instance, you could have £50 in your account, and with 5x (or 5:1) leverage, you could make a trade worth £250 instead.

If, with your trade, the price of the coin increased by 10%, you’d have made 10% of £250, so £25, rather than 10% of £50, which is £5.

Leverage trade

Pretty great right? However, this also works in reverse, so if the price dropped by 10%, you’d have lost £25, rather than £5. It’s very high risk – so please use it sensibly.

Crypto leverage trade

There’s also ‘leveraged tokens’, which are tokens with a set amount of leverage already built in, for example (2x long ethereum).

Bitget actually offers leverage up to 125x on some cryptoassets, which is very high! Please use it sensibly.

Bitget wallet

Bitget also offers a web3 wallet – this is where you can hold and transfer your own coins outside of the Bitget platform itself (so all in your control, rather than on the exchange). It’s typically seen as a safer way of holding crypto over the long term.

Bitget wallet

And, with a wallet, you’re also able to interact with apps directly on blockchains (the technology that crypto runs on). For instance, you can use a ‘decentralised exchange’ (an exchange on the blockchain) to trade over 250,000 different cryptocurrencies – essentially any crypto in existence, rather than just the tokens that exchanges list.

With Bitget, they run the decentralised exchange too, so you can do all your trading in one easy place.

Bitget fees

Let’s dive into the fees – which can have a big impact on your trading profits.

Overall, Bitget is one of the lowest cost exchanges out there, and runs predominantly on trading fees (more on those below).

There’s no fees to open an account, or any fees to simply have an account open to hold your money and crypto (like stock brokers do). Instead, you’ll pay a fee when you buy and sell (make a trade) – and these are called maker and taker fees.

A maker fee is where you set the price you want to buy at (called a limit order), and when the price is reached, your order will be executed. This benefits the exchange with more volume of orders (you are making liquidity), and are typically lower than taker fees.

Crypto marker fee

Taker fees are where you take liquidity, and buy the asset at the price it is right now (the market price) – so your order (buy or sell request) will be executed immediately.

Crypto taker fee

With Bitget, there’s different fees depending on the type of trading you’re doing, whether you’re buying the crypto directly (spot), or trading futures (the price of the cryptoasset). These fees are explained when you make a trade.

With spot trading, the fees are slightly higher than futures, but still very low. The fees start at 0.10% for both maker and taker fees, and reduce depending on your trading volume and account balance all the way down to 0.0125% maker fee and 0.035% taker fee.

With futures, the fees start at 0.02% maker fee, and 0.06% taker fee, and again these reduce down to 0.0125% maker fee and 0.035% taker fee depending on your trading volume and account balance.

These fees are some of the lowest out there – for comparison, Coinbase, a super popular exchange, has fees starting at 0.60%.

Leverage trading fees

There’s additional fees for leverage trading (margin trading), which is a daily interest rate on the money you’re borrowing. This is dependent on which coin you’re trading, and reduces depending on your trading volume and account balance.

Withdrawal fees

There’s also fees when making a withdrawal, and these vary depending on what you’re withdrawing, e.g. which coin you are transferring to a wallet, or another exchange, or to your bank account.

These are typically very low, and typically less than $1 to withdraw to your bank account, and around $5 to withdraw crypto such as ethereum.

Bitget Customer support

The customer support is good.

There’s a huge help centre, with pretty much every question you’d ever want to ask covered. 

Bitget help centre

There’s also live chat, which operates 24/7 (Bitget is global) – you can speak to a real person, and they cover a range of languages (including English of course).

You can also email (via a support ticket), and someone will get back to you after a short while, although there have been some reports of slow responses.

Is Bitget safe?

Bitget is a safe exchange to use – it’s one of the most popular exchanges in the world.

All of the customers’ money is kept on a 1:1 basis. That means it’s not loaned out (like it is with a bank), but kept in ‘reserve’ in protected accounts.

Bitget also publishes proof of reserves monthly, and typically have significantly more than the total of their customers' funds (and never go below), e.g. 150% of what customers have on the exchange.

So, if all the customers withdrew their money at once, there would still be lots left over. Giving customers that extra bit of reassurance.

Bitget is authorised in several countries across the world to provide crypto services, and are in the process of being authorised in the UK by the Financial Conduct Authority (FCA), who are the people who make sure financial services companies are looking after your money.

Financial Conduct Authority (FCA)

Note: you can still use Bitget in the UK while authorisation is pending.

Bitget customer reviews

On the popular reviews website Trustpilot, they have a score of 1.9 out of 5, although only from 500 reviews.

Bitget Trustpilot rating

In crypto, shockingly, that’s actually fairly good. Crypto companies get lots of bad reviews as people have unfortunately lost money on various coins and trades, or lost more than expected as they use leverage trading but don’t understand it (so make sure you do before using it!), or they’re unable to verify their identity to use the platform. They then tend to take this frustration out on a review about the exchange.

For instance, Coinbase has a rating of 1.4, Binance has a rating of 2.1 and even banks like HSBC have a rating of 1.4.

Overall though, for Bitget’s actual platform, there’s lots of 5 star reviews stating how great it is, the wide range of coins and low fees.

With the apps it’s highly rated on both Apple (4.7 out of 5), and Google (4.6 out of 5).

Bitget app ratings

Bitget pros and cons

Here’s a quick recap and the pros and cons of Bitget:

Pros

  • Very low cost
  • Great for copy trading
  • Fast and reliable
  • Well established and secure
  • Great range of coins
  • Good mobile app
  • Loads of advanced trading features
  • Good place to learn

Cons

  • Can be confusing initially for beginners
  • Can be slow customer support responses
  • Not much else!

Bitget summary

We really like Bitget, it’s a great crypto exchange, it's good for beginners and great for experienced traders – being easy to use, and with loads of advanced features and trading options.

It’s safe and reliable, and well established – it’s one of the largest exchanges in the world.

The platform experience itself is great, with all the tools and a great charting system, along with a great mobile app for on-the-go trading.

There’s a wide range of cryptoassets to trade (over 600), and offers futures trading (super popular), with leverage too.

The trading fees are very low, starting at 0.10% and reducing with the more you trade (and even less for futures).

And finally, it’s a great platform for copy trading, with a huge number of expert traders covering a range of different investment styles.

Overall, it’s a solid 4 stars from us. If you’re keen to get started, head over to the Bitget website.

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