Launched in 2018, Bitget has grown to become one of the best crypto exchanges out there for spot trading, crypto derivatives, and copy trading.
The Bitget exchange supports more than 530 cryptocurrencies and about 15 fiat currencies and offers various ways to trade cryptocurrencies, including Bitget spot trading, margin trading, crypto futures, and Bitget copy trading.
It also offers crypto staking and savings accounts to allow you to lock your idle assets and earn passive income, and the Bitget launchpad for investing in new crypto projects.
This post covers Bitget spot trading, the difference between spot and futures trading on Bitget, Bitget spot trading fees, and more.
What is Bitget Spot Trading?
Bitget spot trading is the instant buying and selling of cryptocurrencies at the current market prices. Spot traders on the Bitget exchange may make several small transactions to profit from daily price movements.
Once a transaction is completed, you own the crypto coins you purchase, and they are sent directly to your Bitget wallet.
The Bitget exchange has a high level of liquidity due to many active buyers and sellers on Bitget Spot trading markets. Thus, you are sure to get the best bid-ask spread, and you can enter or exit the market with ease at any time.
Margin and leverage are not available for spot trading. That means you can’t borrow money to amplify your Bitget Spot Trading positions. For instance, if you have 500 USDT, you will only be able to buy crypto for that exact amount unless you open a margin account.
Bitget Spot Trading uses a real-time order book. Your crypto orders are matched with buy/sell orders from other traders and filled almost instantaneously.
To get started, you first need to create a Bitget Spot Trading account and complete Bitget KYC to verify your identity.
Then, fund your Bitget Wallet via bank deposit, crypto deposit from an external wallet, or buy crypto with a credit card, Apple Pay or Google Pay. You can also buy crypto from the Bitget P2P marketplace.
Once you have money in your account, simply browse the Bitget Spot Trading markets, check out their wide crypto selection, and choose your preferred trading pair.
Then, click Buy/Sell and wait for your order to be filled. Purchased coins are sent to your Bitget exchange wallet, and you can view them from there.
Related: Bitkeep Review.
Bitget offers a wide selection of 500+ cryptocurrencies and 200+ pairs for trading in the Bitget Spot Trading markets. You’ll find both popular and less-known crypto assets listed for spot trading, giving a lot of choices and market opportunities to profit from.
Plus, new coins are frequently listed on Bitget almost daily, and most of the new listings come with airdrop events to earn free crypto.
Popular Bitget Spot Trading coins include BTC, ETH, PEPE, ORDI, XRP, BGB, ARB, ID, SUI, MATIC, DOGE, CFX, AIDOGE, LADYS, and more.
Bitget fees are among the lowest in the crypto space. Currently, Bitget Spot Trading fees stand at 0.1%. If you use BGB, Bitget’s native coin, to pay trading fees, you get a 20% fee discount, which comes to 0.08%.
Fiat and crypto deposits are free, but you’ll incur Bitget Crypto withdrawal fees that vary by coin and the network you use.
To help traders make better decisions and achieve success, Bitget offers a myriad of smart trading tools for Bitget Spot trading. They include:
- Advanced charting: Charts in different time-frames, from monthly, weekly, daily, hourly, and even minute charts to analyze price action.
- Orders: Market, limit, trigger, and OCO orders to automate your buy/sell positions
- Indicators: over 100 technical indicators to help you gauge market sentiment and price direction.
- Bitget Spot Grid Trading: A crypto bot to help you maximize sideways markets
Once you’ve created and funded your Bitget Wallet, you can do Bitget Spot Trading in two ways, including:
This is for experienced traders. You use the various technical analysis tools available on Bitget to analyze the market, then place and execute your own trading orders.
This is for newbies who don’t have technical analysis skills. It’s a trading strategy that allows you to copy successful Bitget spot traders and profit from their spot trading strategies. Simply choose and follow the traders you want to copy, and the system will automatically execute your trades.
With Bitget Spot Trading, traders buy/sell the actual assets, and when the transactions are completed, the assets are transferred to the traders’ wallets.
Bitget Futures trading is a hedging strategy that allows investors to “lock in a favourable price of the underlying crypto assets in the future.” Investors don’t own the assets as futures contracts are settled in cash and involve the transfer of cash positions, not the actual assets.
When trading on the Bitget Spot markets, you can only buy crypto with the money you have in your Bitget wallet. On the other hand, Bitget Spot margin trading enables you to borrow additional funds to amplify your trading positions and make huge profits/losses depending on whether the market moves in your favour.
Bitget trading fees stand at 0.1% for both maker and taker orders. When you pay fees with the BGB coin, you get a 20% fee discount and pay a lower fee of 0.08%
The main difference between spot and futures in Bitget is the ownership of the crypto assets. Spot traders own the assets they trade, and assets are transferred to their wallets. Futures traders don’t own the assets, and only cash positions are transferred, not the actual coins.
Whether you earn from Bitget spot trading comes down to your trading strategy and experience. If you can exercise patience, control your emotions, and carry out a level-mind market analysis, you’re likely to earn good money from spot trading. Otherwise, as it happens for many traders, you may end up trading yourself out of capital.
Related: Bitget Academy Review
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.