While you may have decided on getting into cryptocurrency trading, you might not be so sure about how to go about it or which exchange to begin your crypto journey from. Bitget might be worth exploring if you’re looking for an exchange with a vibrant community and some new and ingenious products.
What is Bitget? You might ask. While you might know about it in the context of its partnership with Lionel Messi, this exchange is more than that. With a social media presence on ten different platforms, it has some advanced trading tools as well as some newer ones such as one-click copy trading.
However, it is compulsory to have a KYC-verified account to fully access all the features of Bitget. Read on to find out the requirements and the steps involved in the registration process on Bitget.
What is Bitget?
Bitget is a cryptocurrency and digital assets trading platform registered in Seychelles. Founded in 2018, it now features among the top 5 cryptocurrency derivatives exchanges as per CoinMarketCap. The exchange offers its services to over 8 million registered users in over 100 countries.
Bitget differentiates itself from its contemporaries by focusing on the social trading aspect of the exchange. Its One-Click Copy Trade and Grid Trading encourage traders to interact with each other and engage with the larger crypto community.
Why Create an Account on Bitget
Now, the question is Why Bitget? What does Bitget have that you should make an account on it? Well, it is not one thing but multiple reasons. Bitget has some innovative products that would certainly pique your interest in the exchange.
Copy Trading
One of the most novel features of Bitget is its one-click copy trading. Here, you can trade without getting caught up in learning about complicated trading strategies. You can simply copy the strategies of elite traders to trade crypto and earn some profit.
Licensed Exchange
Bitget is registered as a Money Service Business(MSB) in USA and Canada. It is regulated by the Financial Crimes Enforcement Network(FinCEN) in America and by the Financial Transactions and Reports Analysis Centre in Canada. This should be reassuring for customers considering that most cryptocurrency exchanges operate in a legal grey area.
Low Fees
In September 2022, Bitget announced that there would be a 0% maker and taker fee on spot trades till further notice. Spot trading is essentially free on Bitget. Even the 0.020% maker fee and 0.060% taker fee for futures trading are not very high.
Educational Resources
Head over to Bitget Academy to learn in-depth about the crypto world. Whether you are a beginner or a veteran, you will find something of value. From step-by-step guides to educational videos to the latest crypto news and analysis, Bitget Academy has it all.
How to Register on Bitget
You need to have an account to explore Bitget’s products and services. Read ahead to learn about the steps involved in creating a Bitget account.
Step 1: Visit the Bitget website or download the mobile app from Google Play Store or the iOS App Store. Click on Sign Up in the top corner of the website.
Step 2: You can register either with your email address or phone number. Enter either your phone number or email address and set a strong password. Ensure that the password has one uppercase and a lowercase letter, a number and a special character. Fill in our referral code if a friend has referred you to Bitget.
Step 3: Go through the Terms of Service once and then click on Create Account. A verification email or SMS would be sent depending on whether you registered with your email or phone number.
Step 4: Enter the 6-digit verification code sent to you and click on Sign Up. Your Bitget account will be registered.
Step 5: Alternatively, you can also simply log into Bitget with your Google or Apple account by clicking on Google or Apple.
How to Complete ID Verification on Bitget
KYC verification is mandatory on Bitget to establish the customer’s identity and protect the exchange and its users from fraud and other financial risks. You need to submit your ID and get facial verification done for the same.
Step 1: Log in to your Bitget account and click on the Profile icon. After that, select Account Information.
Step 2: You may update your phone number and set up Google Verification and an Anti-Phishing Code if you wish to. Then go to the ID Verification section and click on the Verification tab.
Step 3: Select your country or region and fill in your first name and last name. Choose the type of identity document you want to upload and enter the ID number.
Step 4: Now, you have to upload photos of your ID document and a selfie. Take pictures of the front and back of your identity document and ensure that the details are clearly visible. Click on Submit.
Step 5: Take the selfie on a well-lit, clear background where your face is clear. You have to hold your ID and a piece of paper with Bitget and the date of verification written on it while taking the picture.
Step 6: You will see a pop-up informing you about the successful submission of your KYC documents. Bitget will then review your documents and send an email if your account is successfully verified.
How to Fund Your Bitget Account
Before you start trading, you need to fund your Bitget account. You can do so either by directly buying crypto with fiat currencies or depositing your crypto assets from an external wallet to Bitget.
Buying Crypto on Bitget
Step 1: Log in to your Bitget account and click on Buy Crypto. Choose the cryptocurrency you want to buy and the fiat currency you want to deposit.
Step 2: Choose a third-party service provider such as Banxa or Mercuryo where you may further choose between payment methods such as Google Pay, Visa, Mastercard or Apple Pay.
Step 3: Verify your identity with the third-party service provider by providing your first and last name, date of birth, country of residence and other information. Note that while Bitget itself does not charge any deposit fee, you will have to pay a fee to the third-party service provider as well as an on-chain transfer fee.
Step 4: Make the payment and the crypto will be transferred to your account within 2-10 minutes.
Transferring Crypto from an External Wallet to Bitget
Step 1: Sign in to your Bitget account and navigate to Assets and then Deposit.
Step 2: Select the type of coin you want to transfer and the chain. Ensure that the chain you choose on Bitget is the same as the platform from which you’re withdrawing crypto.
Step 3: A QR Code and a Deposit Address will be generated. You can use either to transfer your crypto assets.
Step 4: Copy the deposit address and go to the third-party wallet from where you’re withdrawing crypto and paste it there. Put in the withdrawal network and the amount and confirm the transaction.
Step 5: You can now view your cryptocurrency in the Assets section of your account.
Step 6: If you’re using the app, you will find the Deposit option on the main page. Tap on it and then, similar to the website, select the cryptocurrency you want to transfer and the chain.
Step 7: A QR Code and a Deposit Address would be generated. You can scan the QR code or copy and paste the deposit address to the external wallet from where you are going to withdraw your cryptocurrency.
Step 8: Go to the wallet and select the cryptocurrency, and the network and fill in the amount you’re withdrawing. Then confirm the transaction.
Step 9: You can view your assets now by going to Assets and then Spot.
Bitget FAQs
How Much are Fees on Bitget?
There is no fee charged for spot trading on Bitget. There is a maker/taker fee of 0.020%/0.060% charged for futures trading. While there is no deposit fee for depositing cryptocurrencies, the withdrawal fee differs from coin to coin.
Can I Use Bitget without KYC?
You cannot use Bitget without KYC verification. It is mandatory to verify your identity on Bitget for security and compliance reasons.
Is Bitget a Safe Exchange?
Yes, Bitget is a safe exchange. It is registered as a Money Service Business in USA and Canada and is regulated by the Financial Crimes Enforcement Network(FinCEN). It has A+ ranking for 12 SSL indicators and a protection fund worth $200 million to safeguard users’ cryptocurrency assets.
Conclusion
Bitget has some novel and innovative products in its kitty that make it an exchange worth checking out. You can not just trade here but actively engage and interact with the crypto community. Learn from each other, exchange trading strategies and share the latest market news all on a licensed and regulated exchange.
However, to fully explore Bitget’s features such as copy trading, grid trading and launchpad, you need to sign up for an account on the exchange. This is a straightforward task that you can accomplish in a few minutes by following the given instructions.