How to Use Bitget

Bitget is a popular cryptocurrency exchange based in Singapore. The trading platform was founded in 2018 and has since expanded its services to multiple countries. Currently, the platform lists over 250+ trading pairs and cryptocurrencies. The exchange has received licenses from the USA, Canada, Australia, and Singapore, which shows that the exchange is credible and legitimate for cryptocurrency enthusiasts.

The exchange has also created its own native coin, BGB, which reduces transaction fees if you trade on Bitget using its native token. In addition to this, the unique feature that makes Bitget an excellent exchange is the copy trade feature - a useful tool for beginners that enables them to follow the trading strategies of experienced traders (learn about Bitget fees here.)

That being said, let’s now dive deep and learn more about how to trade on Bitget.

Coin-Labs.com has been a business partner with Bitget since 2021.
Therefore, if you sign up for Bitget through Coin Labs, you can get the best fee discount and participate in various events offering up to $4,163 bonuses.

How to Use Bitget

Create Bitget Account

The account creation process on Bitget is quite simple. Here are the steps you need to follow to create your account:

• Click the Register button above with a rocket emoji
  • It will direct you to the official Bitget website with the Coin-Labs’ exclusive referral code automatically applied.
• Enter your Email and create a strong password,
• Agree to the terms of service and click register,
• Finally, verify your account via a link sent to your email address.

Congratulations, you have successfully passed the first step of creating your account. Now, you have to fulfill the KYC verification process. Let’s talk a bit more about KYC.

KYC Verification

Know-Your-Customer (KYC) is necessary to fulfill regulatory conditions and maintain due diligence. Furthermore, it also mitigates risk since Bitget only registers qualified users on its platform. According to Bitget’s AML KYC Policies, the platform usually requires documentation regarding the customer’s identity and their jurisdictions.

Some of the common information needed for verification include:

• Full-names
• Unique identification numbers (Passport or ID Card)
• Registration Address
• Date of Birth
• Nationality

In addition to this, the transactions are being monitored on an ongoing basis to reduce the risks of fraud or illegitimate business activities.

Set Up Two-Factor Authentication (2FA)

Yes, you can set up a 2FA to secure your account on the Bitget exchange. The 2FA is a form of login verification that allows you to log in only if you submit a code sent to your mobile number or an email ID. Another method to set up 2FA is via the Google Authenticator application. You can open the app and scan the QR code during the sign-up process.

The application will provide a verification code that will complete the sign-up process. This two-step process increases the security of your account and reduces the risks of hacking and theft.

On Bitget especially, you can set up 2FA using either your email address or phone number. So, whenever you login onto the exchange, you receive a code on one of the above-mentioned channels. Your login is made successful once you input the code within its expiry time.

Is Bitget Available in the US?

Yes, the exchange has received licenses from the US, which makes it obvious that it’s available for US users. Moreover, as per the KYC page on Bitget, the platform isn’t restricted to individuals from the US.

Deposit on Bitget

You have two deposit methods on Bitget: fiat and crypto. We’ll look at both of them below.

Deposit Fiat

If you want to purchase crypto using fiat, here are the steps you need to follow:

• Log in to the platform,
• Navigate to the Buy-Crypto section,
• Select your preferred fiat currency and enter the amount
• Choose the crypto you want to purchase
• Select your preferred third-party payment provider and payment method
• Finally, click on the Buy button.

Currently, there are two payment service providers on Bitget: Banxa and Mercuryo. Plus, there are over 4-5 payment methods, including:

• Visa
• Mastercard
• Apple Pay
• Google Pay

Deposit Crypto

If you want to deposit cryptocurrency to your account, follow the steps below:

• Visit Bitget PC or mobile application and log in to your account.
• Click on Assets
• Choose the cryptocurrency you want to deposit
• Now, copy or scan the withdrawal address from the other platform and paste it on the Bitget page.

Congratulations, your cryptocurrency deposit has been successful.

Trading on Bitget

Bitget is known to offer multiple trading options, including spot, margin, future, and strategy trading. Let’s talk about them.

Spot Trading

Spot trading involves buying/selling assets at the current market price for instant delivery. It’s usually done by traders to make profits on thin differences of daily price movements. Moreover, you can trade on Bitget Spot by either placing a trigger or a limit order. To start trading on Bitget Spot, here are the steps you need to follow:

• Create your account,
• Deposit cryptocurrencies. You can do this by purchasing cryptocurrencies via the P2P market, bank account, or cards or transferring it from other platforms.
• Head to Bitget spot trading and find out the various trading pairs.
• Select your preferred pair, enter the number for orders, and click Buy.

Futures

Futures Trading is another form of trading where both the buyers and sellers of cryptocurrency agree to transact at a mutually agreed price at a later date. This time of transaction, in the conventional world, is known as a derivative contract.

Bitget offers three different forms of futures trading, including:

• USDC - M Futures
• USDT - M Futures
• Coin- M Futures

The main difference between USDC and USDT futures is that the margin will be settled on the basis of the specific token. Coin-M futures, on the other hand, support the margin from any coin whatsoever.  Here’s how you can trade futures contracts on Bitget:

• Navigate to Bitget Futures Page and Login.
• Open your trade position.
• Specify trading pair, leverage, price, number, position, and mode of margin.
• Once submitted, you can see your contract position under the head of Open Contracts.
• You can also view your profit/loss under Trade Details.
• If you want to close the position, you can do it manually.

Strategy Trading

Strategy trading is a whole new way of trading on Bitget. Here, you can automate your trade and design your strategies with the help of trading bots. The best part is that you can design strategies for both spot and futures trade. One of the unique strategies involved in the DCA (Dollar-Cost-Averaging).

This divides the initial investment into multiple different amounts, and you don’t have to invest it all in one go. The advantage of DCA is that it minimizes losses and risks for the investors.

Furthermore, the use of bots facilitates grid trading - a tool that allows the investor to automatically trade within a predetermined range of buy and sell prices. Best of all, you can deploy all these strategies on Bitget with ease.

How to Use Bitget: Copy Trading

Now let’s talk about the most revered feature of Bitget - Copy trading. This unique feature allows investors to copy the trades, strategies, and operations of multiple elite traders to make a profit.

With the one-click copy trade feature, users don’t need to sit all day in front of their computers. They can execute trades automatically by copying a trader and have a high chance of earning a profit.

Plus, both the parties - the followers and the pro traders - benefit from this feature. First, followers who are new to cryptocurrency can learn and invest by following the strategies of professional traders. On the flip side, experienced traders can earn up to 10% of the total profit earned by their followers. A win-win!

Moreover, you can also connect with leading trader experts and gain insights into the latest market updates and trends. Best of all, Bitget has a network of 100,000+ experienced traders followed by almost 400,000 followers. Overall, the realized profit earned via copy trading is over $350,000,000. Isn’t that just great?

You can also become a part of such huge profit pools. Join the Bitget platform today!

DeFi

In addition to offering multiple lucrative trading features, Bitget also provides De-Fi opportunities for its investors.

• Staking: Bitget provides staking rewards to investors who hold their tokens on the platform.
• Farming: If you provide liquidity to certain protocols, you can earn rewards on your investment.
• Liquidity Mining: Bitget has liquidity mining programs for selected trading pairs. If you join such a program, you can earn rewards in the form of discounts or interest.

FAQs