Is BitGet a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether BitGet is a good crypto exchange to start trading with. In this article you will learn whether BitGet is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker 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.
| 💰 Account currency: | Cryptocurrencies |
| 🚀 Minimum deposit: | ₮1 (USDT) |
| ⚖️ Leverage: | Up to 1:125 |
| 💱 Spread: | Fixed |
| 🔧 Instruments: | Cryptocurrency |
| 💹 Margin Call / Stop Out: | No |
BitGet Pros and Cons
👍 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.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for BitGet Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. BitGet offers traders the following conditions.
| 💻 Trading platform: | Own platform |
| 📊 Accounts: | Standard, demo mode |
| 💰 Account currency: | Cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Cryptocurrency wallets |
| 🚀 Minimum deposit: | ₮1 (USDT) |
| ⚖️ Leverage: | Up to 1:125 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0.001 |
| 💱 Spread: | Fixed |
| 🔧 Instruments: | Cryptocurrency |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No data |
| ⭐ Trading features: | BitGet is available for buying cryptocurrencies, spot trading, and trading futures contracts. As investment programs, a trade copying service and affiliate program are presented. |
| 🎁 Contests and bonuses: | There is a bonus program for completing certain tasks and a rebate program |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of BitGet commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal 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 |
Investment programs of BitGet
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. BitGet offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
BitGet is focused on cooperation with active crypto traders and offers optimal conditions for independent trading. Also, the cryptocurrency exchange offers its customers a service of copying trades, which allows you to receive additional, passive income. Another way to earn money is participation in the affiliate program, called the Launchpad project. BitGet also offers a reward system for completing various tasks.
Copying trades
This system allows you to copy trades of experienced traders and make profits relying on their trades and expertise. This method of passive earning is chosen by novice and experienced traders.
The copying service is suitable for all traders, regardless of experience in the cryptocurrency market.
You don't need trading skills to copy trades. To get started, just subscribe and monitor how much income a particular trader brings.
The BitGet website has a rating of professionals and a description of each, such as the number of trades, the level of profitability, the number of subscribers, etc.
The user can subscribe to one or more traders.
You can cancel your subscription at any time.
The service of copying trades is suitable for receiving passive income, without actively participating in trading. There is a fee for subscribing to professionals.
Rewards system
BitGet also has a reward system where each trader who completes a series of tasks receives a fixed amount. The list of tasks includes:
Registration (welcome) bonus is $5.
Account verification is $3.
First deposit bonus is +5% of the deposit amount; the maximum bonus is $100.
The first trade is $20.
Participation in copying trades is $30.
The total amount of bonuses can be up to $158, and it can be used to pay some commissions, depending on the task completed.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
BitGet’s affiliate program:
The BitGet cryptocurrency exchange is actively developing and providing services in the international market. One of the tools to expand its client base is the affiliate program.
Any crypto trader who has an account at BitGet can become a referrer (member of the affiliate program). To do this, you need to apply on the exchange website in the “Partnership Program” section and fill out the form, after which traders may contact and refer a potential affiliate. The main task of the referrer is to invite new active traders to the company. To do this, BitGet issues a referral link and marketing materials to each affiliate.
For each new client who opened a live trading account with BitGet, a stated payout amount is charged. This condition is negotiated with each affiliate individually. A BitGet affiliate can withdraw funds anytime, without restrictions. Also, unique offers are available for participants of the affiliate program such as professional support at any time of the day and corporate gifts.
Participation in the affiliate program is available only to verified users. Information on referrals and payouts is available in the user account section.
Conclusion. Is BitGet good for beginners?
The BitGet cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, BitGet could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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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.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.