Personally, Cyrpto convert / USDBGB don’t find this too big of a deal as many traders don’t bother risking blowing their accounts with leverage anyway. Security is an often-overlooked consideration and is treated by many crypto traders as an afterthought, but it shouldn’t be. With the endless exchange hacks and exploits that seem to rear their ugly heads, the world’s best exchange can instantly become the world’s worst exchange to anyone who had all their funds stolen. I would rather forgo some of the bells and whistles, even pay a little more in fees if it meant I was less likely to lose all my hodl-stash in an exchange hack. Bybit also has more of a “modern” feel to the navigation and execution of the platform, whereas Bitget felt a bit more dated and not as up-to-date as Bybit. Bybit is also the better exchange for beginner traders looking to learn the craft as they have one of the most comprehensive and well-laid out “learn” sections of any crypto exchange.
The $200 million fund, consisting of 6,000 BTC and 80 million USDT, acts as a safeguard for Bitget users and the Bitget platform. There is an insurance cover for investors using the Bitget platform, but this is largely targeted at forcibly closed profitable trades. This is useful in the event of a large liquidation, as the insurance fund helps prevent a contract loss. Since Bitget’s official launch in the crypto derivatives market in June 2019, the platform has become one of the largest crypto copy trading and derivatives exchanges in the world.
Bitget also allows its users to purchase and sell a variety of cryptocurrencies using several payment methods. Advanced and innovative features like strategic trading and copy trading provide even more ways for traders to be successful. Currently, Bitget is located in Singapore, and they have millions of users from all over the globe. Thanks to Bitget’s industry-leading security, crypto traders and investors can trust them to keep their funds safe and secured. As Bitget is available worldwide, you won’t have to worry about compliance, regulations, and restrictions no matter where you are.
We recommend you move it from Spot Account to Futures in preparation for your copy trade. New users must complete the KYC process and enable the two-factor authentication (2FA) system to limit the chances of a malicious actor stealing their funds. There is also a withdrawal address whitelist and anti-phishing code to further beef up the security measures. On the left-hand side of the interface, Bitget runs the order book, which monitors transactions on that particular asset. The basic trading interface is designed to allow customers to buy and sell fast. This is simply a ‘Spot’ trading option for new and inexperienced investors.
This way, you might even save your assets from depreciation and earn a considerable amount. Liquidity pools are considered a little complex but can pay off really well if you decide to invest in the right pools. There are countless pools available on Bybit consisting of two different assets, and you can provide liquidity to any of them depending on what asset you have.
For the actual trading interface, I preferred trading on Bybit as it just felt a little more high-grade and modern. Bybit also has higher trading volume, making it the preferred exchange for whales and institutions. As mentioned, the charting platform on Bybit is powered by the popular TradingView charting platform, which has become the industry gold standard for technical analysis traders.
The default Bitget spot trading fees are low, and you can lower them even further by paying the spot trading fees with the Bitget native token, BGB. However, since Bitget charges a flat fee, they can’t compete with Bybit, Kucoin, and OKX regarding trading fees for large-volume traders. With Bitget, there are no limitations on trading features for non-KYC customers, as is the case for many other crypto exchanges like Binance. Unlike relying solely on automated signals and plugins, social trading lets you join a community of traders to engage in real-time discussions about market updates. Copy trading is still automated, but you can switch between traders and follow their strategies at different times.