Reputation And Security Of Bitget | Know The 9 Strengths And 3 Weaknesses

Bitget is an overseas cryptocurrency exchange established in 2018. In particular, it has become a hot topic in "copy trading" that can reproduce the trades of excellent traders as they are by focusing on derivatives.

However, in order to become an overseas trader, when dealing, Is it actually easy to use? After all, overseas companies are uneasy, and there must be a lot of people who have anxiety, such as.

If you read this article, you will be able to grasp the pros and cons felt by actually using Bitget (bit get), and you will be able to trade with confidence.

  • Go to Bitget's official site: This site only 10% off transaction fee semi-permanently and bonus campaign holding that can receive up to $565

Four Features Of Bitget's Reliability & Safety

Bitget is a Singapore-based cryptocurrency exchange founded in April 2018. Let's take a closer look at reliability and safety, which are important for using overseas suppliers.

Operating Company Bitget
Number of employees Over 200 people
CEO Sandra Lou
Branch office country USA / Brazil / Europe / Russia / India / Vietnam / Singapore / Korea / Philippines / Australia
Supported language Japanese English Korean Chinese Russian Vietnamese Spanish
Customer Support support@bitget.com (Japanese support)

World's Leading Volumes And User Numbers

Bitget has about 1.5 million users in 48 countries worldwide. The total number of users registered as copy trader is over 10,000. Although it seems that its name recognition in Japan is still low, it is ranked 9th in CoinMarketCap's derivatives exchange rankings as of October 2021. In addition, compared to exchanges in Japan, the 24-hour trading volume is several tens of times larger, so it is an exchange that can be expected to expand further in Japan in the future.

Financial Licenses Worldwide

Bitget has offices around the world and is also licensed for finance. Compliance is a sign of a great focus on global expansion.

The licenses currently obtained are as follows:

  • US MSB LICENSE
  • CANADA MSB LICENSE
  • AUSTRALIA DCE LICENSE
  • Exemption of provision of Cryptocurrency Payment Services in Singapore

We have not established a branch office in Japan and are not registered as a financial instruments business. However, it is not on the FSA's list of unlisted companies, so it is currently not subject to regulatory measures such as Binance.

High Reputation For Security

Bitget is also a company that pays the latest attention to risk management.

For our proprietary systems, we have earned A+ in 12 SSL metrics. It also has the highest rating of 3 security ratings on the cyber security rating platform and is ranked in the top 30 of all platforms.

It can be said that there is an environment where you can trade with confidence because there has been no major server downing so far.

Sponsor A Well-Known Club Team

Bitget announced in September 2021 that it had signed a sponsorship deal as an official partner of Juventus, an Italian football team alongside AC Milan and Inter.

In the past, crypto-asset exchanges have signed sponsorship agreements with professional sports teams, but this is very rare as a sleeve sponsor with a logo in a uniform. It can be said that it is a sign that it has a future and is evaluated for safety.

9 Benefits Of Bitget

Let's take a look at the benefits of trading with Bitget.

Copy Trading Is Available

The most significant feature of Bitget is the system called copy trading.

It is a mechanism that can automatically copy a specific trader's trades and use it to manage its own assets. Each trader's performance is public, so you can choose the best trader based on your results, such as your return rate, win rate, and the number of followers within three weeks.

You Can Trade In Japanese Yen Using A Credit Card

In overseas cryptocurrency exchanges, deposits are often limited to cryptocurrencies. There is a fee, but it may be cheaper than going through a domestic exchange for those who do not currently own cryptocurrency at all, so it will be worth using. Bitget also cannot deposit Japanese yen by bank transfer, but it is possible to purchase and deposit virtual currency with a credit card.

Trades Can Be Started Immediately Without Identification Documents

You can start from registration to deposit and transaction without submitting identification documents.

However, identity verification is required when depositing with a credit card.

In addition, since the withdrawal amount is limited to the amount equivalent to 0.1 BTC per day, it is better to check your identity as soon as possible after registration. After certification, you can withdraw up to 200 BTC per day.

Leveraged Trading Up To 125x

It varies from currency to currency, but it can set leverage up to 125 times. While dynamic transactions can be made at a small amount, there is a high possibility that losses will be large, so paying attention to fund management, such as setting losses in advance is necessary.

Zero-Cut System (No Further Proof)

A zero-cut system is a system that prevents losses of more than the amount invested.

Bitget uses a zero-cut system, and when certain standards are reached, loss cuts are included, so there is no need to worry about being charged an additional deposit of margin called additional proof.

Even if you trade with high leverage, you can proceed with trades confidently without worrying about debts to be repaid to the exchange.

Official Hp Support Is Easy To Understand In Japanese

The official website and support are fully available in Japanese, and video content is also available. There are some strange Japanese, but there is no problem with trading.

Smartphone App Is Easy To Use

You can complete deposits, withdrawals, and transactions with the smartphone app. In addition, there are exchanges that can copy trade on other exchanges, but it is very convenient because only Bitget can do Copitre with a smartphone app.

Using Your Own Tokens Will Reduce Fees

Bitget issues its own token BGB (Bitget Token). The price of the currency itself is not high, but if you pay the transaction fee in BGB, you will get 30% off, so it will be advantageous.

Hold Trade Competitions On A Regular Basis

There are regular trade competitions with luxurious prizes. in the past, competitions limited to Japanese people were also held. Currently, a trade tournament called "King cup Global Invitational (KCGI)" is scheduled to be held. There are team matches and individual battles, and the total prize pool is 100 btc; it is gorgeous content that you can get a bonus even if you participate, so you may want to participate once on this occasion.

Three Disadvantages Of Bitget

Let's take a look at the disadvantages of trading with Bitget.

Few Operating Results In Japan

Since trading in japan has started around 2020, the days are still short, and the number of users is not so large. At present, there is no refusal to withdraw money, but depending on the management situation, there is no possibility that such a thing will happen in the future.

Transactions using Bitget are at your own risk, so be careful.

Transaction Fees Are Slightly Higher Than Other Exchanges

The transaction fees on Bitget are as follows:

  • Physical Trading: 0.2% for both maker and taker fees
  • Futures Deal: Maker fee 0.04% taker fee 0.06%

Binance, the largest overseas cryptocurrency exchange, has a flat 0.1% transaction, and there is also a free place on domestic exchanges, so it can be said that this fee level is not cheap.

Can't Deposit Or Withdraw Money In Fiat Currency

Since deposits and withdrawals cannot be made in fiat currency (yen, dollar, pound), it is necessary to exchange cryptocurrency via wallets of other exchanges. However, credit card deposits are accepted.

Frequently Asked Questions (Q&A)

We've compiled frequently asked questions about Bitget.

Q. Can I specify a credit card as the withdrawal destination?

A. I can't. you can deposit in Japanese yen by using a credit card. Withdrawals can only be made with cryptocurrency, so you need to go through a domestic exchange if you want to receive them in Japanese yen.

Q. Do you have a demo account?

A. No, it seems that there was a form of demo contract before.

Q. Can I trade on Saturdays and Sundays?

A. 24/7 trading is possible.

Summary

We went into more detail about Bitget's reputation and word of mouth, but we traded very good copies.

You have understood the functions that other overseas cryptocurrency exchanges do not have. Choosing a broker is very important to make a profit in cryptocurrency trading.

Bitget, which can be expected in the future, is a recommended cryptocurrency exchange worth using once!

About Author

Naoya Shimura

Asset management consultant for the wealthy. With 10+ years of project investment experience in the trading industry, financial industry, gaming industry, and IT industry, he provides various consulting services around the world. Serving as a director of an energy development company, responsible for asset operation and coordination of business cooperation with government agencies of various countries. And operate leading companies in Japan and Singapore.

3 Comments

Easy to use for a beginner like myself. The best function is copy trader

Amazing site, and have gained quite detailed information about Bitget... And I have learned quite a lot of things. Informative guide for a beginner like me.

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