Bitget Review: Analyzing the Platform's Rise to Global Crypto Prominence in 2024

Established in April 2018, Bitget has cemented its position as one of the largest crypto exchanges globally, serving over 25 million users across 100 countries. The platform’s influence transcends trading, as evidenced by strategic partnerships with prominent figures like football icon Lionel Messi in October 2022 and leading collaborations with esports events like PGL. 

In this review, we take a look at Bitget's various facets, including its growth trajectory, fee structure, security measures, and innovative features, to provide a comprehensive assessment for traders and investors.

Growth Trajectory

Bitget's remarkable growth trajectory continued in 2023, despite market uncertainties. The platform witnessed a surge of over 300% in total transaction volume in 2022, securing its place among the top 5 global derivatives trading platforms. Notably, Bitget maintained its dominance in 2024, holding a top 4 position in trading volume and increasing its market share to 9.4%. The platform's spot market share tripled from 2% to 6% in 2023, showcasing its resilience and market adaptability.

As of the time of writing, Bitget sits as the 4th largest derivatives trading platform, according to data from CoinMarketCap. 

Expansive Crypto Offerings

In a bid to provide a comprehensive trading experience, Bitget has continuously expanded its range of supported cryptocurrencies and trading pairs. With over 750 tokens and over 820 trading pairs, including major cryptocurrencies like BTC, ETH, USDT, and its own native token BGB, Bitget caters to the diverse needs of traders and investors across the globe. In addition to user-friendly options like USDT-margined futures, Bitget partnered with Circle to become the first exchange to launch USDC-margined futures in 2021.

Bitget token BGB, currently ranked 67, is trading at $1.37, with a market capitalization of $1,924,818,964, having surged by over 105% in the past 60 days, per CoinMarketCap data. Notably, BGB has rallied by over 432.7% in the past one year, and had been listed as the best-performing CEX token in 2023. 

Bitget boasts a transparent fee structure for spot and futures trading, incentivizing traders who pay with Bitget's native token, BGB with a 20% discount on spot trading fees.

Bitget Features

Bitget offers a comprehensive set of features designed to empower users of all skill levels. Let's delve into some of the platform's key offerings:

Copy Trading

In May 2020, Bitget introduced copy trading,  allowing users to replicate the strategies of experienced traders across various markets. Per Bitget, the platform has over 650,000 active followers, collectively realizing profits exceeding $430 million. 

Bitget Earn

Bitget Earn is a robust asset management platform offering a variety of financial products tailored to different risk appetites. From flexible savings plans to staking options, users can earn daily interest on their crypto holdings while maintaining control over their investments. The platform's staking feature allows users to participate in principal-guaranteed mining with various cryptocurrencies, ensuring low-risk income streams without the hassle of on-chain staking risks.

Launchpool, PoolX & Launchpad

Exclusive to BGB token holders, Bitget's Launchpool provides a platform for staking and farming popular tokens, offering attractive rewards on an hourly basis. Users enjoy the flexibility of withdrawing staked assets at any time, coupled with tailored pools for beginner investors and incentives for user referrals. Bitget's Launchpad enables users to invest in early-stage crypto projects, further expanding their investment opportunities. Recently, the platform introduced PoolX, a stake-to-mine platform, allowing users to stake coins and earn tokens through hourly distributed rewards and independent APR calculations in mining pools, with the flexibility to redeem staked tokens at any time.

Bitget Trading Bots

Bitget's trading bots automate the process of maximizing earnings by leveraging market fluctuations. Whether users prefer grid, Martingale, CTA, auto-invest, or AI bots, Bitget provides a diverse range of options to suit various trading strategies. These bots operate 24/7, leveraging market trends to optimize profits. Notably, bot trading is free of charge, aligning with Bitget's commitment to accessibility and affordability.

BGB Airdrop

The platform rewards BGB token holders through its Super Airdrop program, providing them with exclusive access to newly listed cryptocurrencies on the platform. By holding a minimum of 4,000 BGB for 15 consecutive days, users become eligible for airdrops based on their average BGB holdings during this period. 

Bitget Wallet: A Comprehensive Web3 Ecosystem

Bitget Wallet’s comprehensive Web 3 ecosystem consists of a multi-chain wallet, NFT platform, DApps, and swap functionality. The key components include:

• Bitget Wallet: Supporting over 90 mainnets and 250,000+ cryptos, the multi-chain non-custodian wallet is tailored for DeFi trading and integrates seamlessly with the broader Bitget Wallet ecosystem.
• Bitget Swap: Prioritizing speed, convenience, and market information accuracy, Bitget Swap, a DEX aggregator, enables instant token exchanges across a diverse range of trading pairs and facilitates cross-chain swaps. According to Dune, Bitget Wallet’s weekly swap trading volume has surpassed Metamask and became the highest in Mar 2024. 
• NFT Marketplace: Bitget's NFT platform streamlines the listing and purchasing of NFTs by aggregating collections from various marketplaces, allowing transactions with various tokens.
• DApps Ecosystem: With over 20,000 DApps spanning categories such as DeFi, SocialFi, and GameFi, the platform encourages a dynamic multi-chain ecosystem.

Bitget Payment Methods

From Quick Buy and P2P trading to credit/debit card payments and third-party payment providers, Bitget provides a seamless purchasing experience tailored to individual requirements through its extended range of payment methods. The platform supports over 140 fiat currencies, 100+ cryptocurrencies, and 70+ payment methods, ensuring flexibility for its global user base. 

Bitget Customer Support and Accepted Countries

Bitget provides round-the-clock customer support in multiple languages, powered by a dedicated support team and an automated chatbot for immediate assistance. The platform's comprehensive support section offers a range of self-service options, allowing users to manage their accounts effectively.

While Bitget operates globally, it adheres to international regulations, resulting in restrictions in certain countries or regions. Users should stay informed about the legal status of such platforms in their respective jurisdictions to ensure compliance and legality. Find detailed information in the Identity Verification FAQ section.

Security Measures and Regulatory Compliance

Central to Bitget's ethos is the assurance of user safety and security. With a robust Protection Fund set up in 2022 and now exceeding $540 million, Bitget provides a defense against unforeseen adversities, instilling trust and confidence among its user base. Additionally, stringent KYC procedures,  cold storage for digital assets, and  Bitget and its entities obtained VASP registration in Poland. All of these highlight Bitget's commitment to maintaining the highest standards of integrity and accountability.

Final Thoughts…

Bitget's expansive offerings, from its extensive crypto portfolio to innovative features like copy trading and Launchpad, resonate with users seeking comprehensive solutions. Surpassing milestones with remarkable transaction volume surges and market share expansions, Bitget continues to command a formidable presence, ranking among the top derivatives trading platforms globally. Hold steadfastly to its position, Bitget paves the way for further innovation and market leadership in the years to come.

Explore Bitget: Website | Twitter

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