Review on Bitget by Stephen Toluwani
The newly released Copy Trading feature is worth a try
My first come on contact with Bitget Exchange was when an Airdrop for it's native BFT token was launched in which I earned and got to start surveying the exchange. The exchange is among those exchanges that set up a compulsory KYC procedure for it's users which has limited me from actions like making a withdrawal. The exchange all the same, comes with great features and a selling point is it's User Interface design. Bitget sports an easy to use and understand UI designs and shouldn't turn out to be a problem for use by any new user. There is a limited number of coins one could trade with but they are quite popular. The exchange recently launched a Copy Trading feature which led me to going back into the exchange to explore how it works and give my review here. The Copy Trading mechanism which many exchanges have been lately seen implementing comes with their own features but Bitget adds a little spice to what they offer. In my interactions with the feature using it's app, users could simply click to follow any trader who are ranked according to their recent profits over a period of time. Added feature like Exiting a running trade to avoid or limit incurred losses even while the trade is still in session under the control of the Master trader can't be overly emphasized as this helped me to enter and exit trades easily. Also, a 10% of profits made are given to the Master trader which is in-conducive for me as a small time trader but is a good rewarding mechanism to the Master Traders.
Other features like the transaction fees for making a withdrawal from Bitget are quite low. The trade fees for using it's Spot exchange are on the high side though currently set at 0.2% while the derivatives is placed average while compared to other exchanges. The use of BFT though helped in cutting those fees but by a mere 30%. The security features set-up by the exchange and that which is allowed for domestic security are really good and users can be assured. Its still one of my best exchanges and I will be sticking around with it mostly because of its Copy
Pros
- Responsive Exchange with good liquidity and supports many major Crypto coins
- Supports Copy Trading from which both parties get to earn
- Good User Interface on both web and app
- Security features are really great. Gives users more confidence
- Transaction fees for initiating withdrawal charged by this exchange are very low for all it's coins
- Trade fees get a 30% discount using it's native BFT token to pay for trading.
Cons
- Coins supported for trading on both it's derivatives and spot exchange are in a larger view, small
- Trade fees of 0.2% charged against both market makers and market takers are really not suitable
