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Exploring Bitget: The World’s Up-and-Coming Crypto Exchange
Bitget is a rapidly expanding cryptocurrency exchange based in Seychelles that has emerged as the largest crypto copy trading platform globally. Since its establishment in 2018, Bitget has garnered a user base exceeding 25 million registered individuals worldwide and a remarkable daily trading volume surpassing $10 billion USDT.
With a diverse team of over 1,300 professionals hailing from 60 different countries, Bitget is broadening its range of services and trading tools beyond copy trading.
Key Services
Spot & Futures Trading
In addition to its copy trading feature, Bitget offers spot trading for more than 800 cryptocurrency pairs and futures trading with leverage of up to 125x, including popular options like BTC, ETH, SOL, among others. The platform’s trading interfaces integrate advanced TradingView charting capabilities, enabling users to conduct technical analysis and execute trades seamlessly on the same platform. Bitget’s total annual trading volume in 2023 reached $3.14 trillion, with spot trading volume soaring by 94% year-on-year.
Copy Trading
One of Bitget’s primary offerings is copy trading, which makes it stand out in the market. Serving as the largest copy trading platform globally, Bitget hosts more than 110,000 traders whose strategies can be copied by others, with over 400,000 copy traders currently utilizing the service. This feature allows novice or inexperienced traders to replicate the trades and strategies of experienced professionals automatically, providing a low-risk alternative to engaging with elite crypto traders without needing to constantly monitor charts or take manual trading risks.
Launchpad
Bitget also operates a curated Launchpad that grants early investment access to promising upcoming crypto projects before they are listed on major exchanges. This provides Bitget users with the opportunity to invest in potential groundbreaking projects at an early stage.
Bitget Wallet
Aside from its leading exchange platform, Bitget has introduced the Bitget Wallet, 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 platform to store their crypto assets and a convenient gateway to explore new assets and opportunities on-chain.
Integrating seamlessly with the Bitget exchange, the wallet enhances the platform’s trading capabilities while broadening its 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 more than 250,000 cryptocurrencies, facilitating efficient trades across nearly 50 blockchains through liquidity aggregation across multiple DEXs and cross-chain bridges. With a user base exceeding 20 million globally, Bitget Wallet has become the fourth-largest Web3 wallet worldwide.
Fees & Security
Fee Structure
Bitget aims to maintain a cost-effective trading environment with competitive fees. The platform imposes no deposit fees, with spot trading fees standing at just 0.1% for makers and takers (offering a 20% discount for utilizing Bitget’s BGB token). Futures trading fees are lower, at 0.02% for makers and 0.06% for takers.
Security Measures
Security is a paramount concern for Bitget, evident through its implementation of robust security practices such as publishing Proof of Reserves, maintaining a protection fund of over $585 million with public wallet addresses, utilizing cold wallet storage, and supporting advanced features like two-factor authentication. The exchange has garnered 12 A+ security ratings from SSL Labs.
Native Token
The Bitget ecosystem revolves around the BGB utility token, operating on the Ethereum blockchain under the ERC-20 standard. BGB enables users to reduce trading fees, earn staking rewards up to 6% APR, and participate in various platform initiatives. The token can be acquired through spot trading, fiat purchases, or converting small balances, and was ranked as the second-largest exchange token by trading volume in TokenInsight’s Exchange Token Review in February 2024.
Global Accessibility
Supported Currencies
Bitget prides itself on its global accessibility, offering support for over 40 fiat currencies for purchases and bank transfers. Users can directly purchase more than 250 cryptocurrencies using credit/debit cards, Apple Pay, Google Pay, and various local payment options through Bitget’s fiat onramps.
KYC Requirements
To ensure a secure and compliant trading environment, all Bitget users must complete Know Your Customer (KYC) identity verification during the registration process. Providing official identification documents like passports or IDs unlocks full trading capabilities.
The Future of Bitget
Looking forward, Bitget continues to drive innovation and global expansion to solidify its position as the premier crypto copy trading platform and spot and derivatives exchange. Future initiatives include timely listings of the latest cryptocurrencies and trading pairs, expanding fiat payment methods in additional regions, developing new products such as crypto interest accounts, expanding CSR initiatives like Blockchain4Youth and Blockchain4Her, and enhancing the user experience with improved charts, AI-based tools, and educational resources.
With a burgeoning user base, competitive fees, stringent security protocols, and a comprehensive range of crypto trading services, Bitget is strategically positioned to retain its status as the leading copy trading platform while progressing into a holistic global crypto exchange.
The article originally appeared on CryptoSlate.
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