Bitget pairs a large global spot market with derivatives and a well known copy trading service. Right now, though, its operational situation outweighs those features: the exchange disclosed a security incident that affected part of the wallet infrastructure used by its exchange. Bitget estimated the financial impact at around $388 million and said withdrawals were being restored step by step. For that reason, this review puts security and the recovery of normal service at the centre of any decision to open an account.

At a glance

  • Founded: 2018.
  • Headquarters: International operations without one named head office; the group describes itself as decentralised.
  • Regulation and licences: Permissions in El Salvador as a digital asset service provider and Bitcoin service provider; what is covered depends on the operating entity.
  • KYC requirement: Deposits and trading on the exchange require identity verification.
  • Supported countries: Available internationally, subject to residence restrictions and local product rules.
  • Number of cryptocurrencies: Around 800 tracked spot assets, not counting the far larger onchain token range.
  • Fiat deposits: Bank and card options by region, including euro bank transfers where offered.
  • Mobile app: Trading and verification on mobile; the separate wallet app serves a different purpose.

Sign up and KYC process

Standard verification asks for your personal details, a government ID and a face scan, and the exchange may request more information about your account or transactions later. Do not read the global catalogue as a list of what you can use: products shown in promotions may not be offered in your country.

The licences in El Salvador show why the exact activity matters. Bitget announced a digital asset service provider licence there, on top of an existing Bitcoin service provider permission. Both are local permissions, not a global licence covering everything sold under the Bitget name. European applicants should identify the relevant entity and the services it actually provides, rather than assuming a registration elsewhere equals European authorisation.

Fees

Standard global spot fees are 0.10% for makers and 0.10% for takers. Eligible users who pay fees in BGB get a reduced rate of 0.08%, but that requires holding the token, which is a separate decision, so it should not be quoted as the price everyone pays.

Copy trading is charged differently from placing your own spot orders. Depending on the programme, followers may hand a share of profits to the trader they copy, on top of normal trading costs. Futures positions can carry funding charges, and buying with fiat or withdrawing comes with its own payment and transfer terms. The basic spot fee therefore covers only part of what Bitget may cost you.

Supported assets and features

The spot markets include the leading cryptocurrencies plus a large set of smaller tokens. The figure of about 800 tracked spot assets is a fairer basis for comparison than adding in every token reachable through connected onchain services, which work with different execution, liquidity and wallet set-ups.

Copy trading is what most clearly sets Bitget apart. You can mirror another trader's activity, but your entry price, position size and timing will not always match the leader's published results. Derivatives and automated trading tools are also available on the global platform. These features mainly appeal to people running an active trading account rather than those who just want to buy a coin and withdraw it.

Security

The disclosed incident changes how Bitget should be judged. According to the company, its protection fund absorbed the impact, customer balances were not affected and the fund has since been topped back up to more than $300 million. These are the company's own statements about its response, not an independent promise that any future loss would be covered.

The same update said withdrawals were resuming gradually. That is not the same as every withdrawal route being back to normal. Before depending on Bitget to access your funds, check the latest status for the specific coin and network you would use.

Bitget publishes reserve reports and explains its account authentication options. The reserve report cited here covered 19 assets, far fewer than the full trading list. Reserve reports, a protection fund and login security each answer different questions, and none of them cancels out the significance of a confirmed breach.

Pros

  • A large spot catalogue and mature copy trading tools.
  • Published spot fees, with an optional discount when paying in BGB.
  • Regular incident updates explain how the recovery is progressing.

Cons

  • The disclosed security incident is a serious custody concern.
  • Withdrawal availability must be checked for each coin and network.
  • Global promotions can blur exchange products with separate onchain services.

Verdict

Experienced traders may find Bitget's range attractive, but opening an account while the exchange is still recovering from an incident calls for a different kind of assessment than a normal feature comparison. The questions that matter first are whether you can reliably access your funds, how much of the remediation is complete and what evidence backs the company's statements. The size of the catalogue and the copy trading tools should come second.