BitGet Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed BitGet fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of BitGet
The BitGet crypto exchange provides traders with the opportunity to trade in spot, futures, and cryptocurrency. Cryptocurrency is used exclusively as instruments at the exchange: BTC (₿), LTC (Ł) ETH (Ξ), USDT (₮) and others. Trades are carried out on the crypto exchange’s own platform, which is available as a web terminal and an application for mobile devices. BitGet's fees are lower than its competitors in the market, with maker fees of 0.02% and takers of 0.06%. The commission can also be paid with bonus funds that each BitGet client receives upon registration, verification, and a trading account replenishment. There are no fees for maintaining an account, but a commission is charged upon withdrawal, the amount of which depends on the cryptocurrency in which the withdrawal is made. For investors, BitGet offers its own service for copying trades, and it is available at the exchange and at an affiliate program. Novice traders can use demo accounts to hone their trading skills, but there are no educational materials on the website. The BitGet cryptocurrency exchange provides services on an international level and cooperates with traders from different countries.
👍 Advantages of trading with BitGet:
•availability of demo accounts;
•convenient ways to contact the support service;
•a wide range of cryptocurrencies for account replenishment;
•service of copying trades for receiving passive income;
•ability to reduce commissions using credits earned in the bonus program;
•ability to engage in algorithmic trading;
•the exchange uses hot and cold cryptocurrency wallets to store client funds.
👎 Disadvantages of BitGet:
•Deposits and withdrawals in fiat currencies are not available.
•There are no educational materials for novice traders on the exchange website.
BitGet Commissions and Fees
BitGet has fixed fees for contracts, spot, and futures trading. Fees vary depending on the type of trade. When working with futures, the commission is 0.02% for the maker and 0.06% for the taker, while for spot trading, the fee is 0.1% for both makers and takers.
Under the terms of BitGet, it is possible to reduce the amount of commissions. Thus, traders can use the funds earned in the bonus program to pay fees, as well as use the services of the Traders Union and compensate for part of the trading costs by receiving rebates.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.04% | Yes |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at BitGet suitable for beginners?
Based on the results of the analysis, Traders Union experts have concluded that the fees charged by the broker are average. There are companies with lower fees. The broker offers a low minimum deposit, but average fees do not make this broker a good choice for novice traders.
FAQs
Are the fees charged on a demo account?
Yes, but they are written off the virtual funds you use for trading on the demo account. This allows you to learn the level of the fees.
Can the level of fees differ for cent and standard accounts?
Yes. On cent accounts, the fees are generally lower than on standard accounts.
Can the level of the fees change if different accounts imply the use of different platforms?
Yes. Some brokers offer different trading platforms on different types of trading accounts. In this case, the size of the fee may change.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.