Singapore exchange Bitget entered the CIS market: opportunities and benefits for traders - Bits Media

In August, regulated cryptocurrency exchange Bitget entered the CIS market. What trading opportunities does the platform provide and what are the advantages of its main products?

Bitget is a cryptocurrency exchange headquartered in Singapore, serving 1.6 million users from 46 countries with more than $5.6 billion. According to Coinmarketcap, Bitget is in the top 10 derivatives exchanges and supports 55 spot and 23 futures markets. Bitget users can buy cryptocurrency, by replenishing the account using Visa and MasterCard, also payment systems Google Pay, Apple Pay и Samsung Pay.

Exchange regulation

The exchange is licensed to operate in several countries. Bitget Receives MSB Futures Trading License from the Financial Crimes Network in the US and Canada (FinCEN).

In Australia, the activities of the site are regulated under the licensing regime for cryptocurrency exchanges. (DCE) Australian Center for Accounting and Analysis of Financial Transactions (AUSTRAC), and in Singapore, the company was licensed as a digital payment provider.

Deposits and withdrawals of assets

You can replenish the balance on Bitget with any of the cryptocurrencies supported by the exchange by transferring from your personal wallet to your account on the exchange. Replenishment of an account using Visa and MasterCard with fiat currencies is possible only through an integrated payment acceptance service. Commission for replenishment – 2.5% from the transfer amount, but not less $10. Withdrawal fee depends on the type of cryptoasset. Withdrawal is possible only in cryptocurrencies.

Trading commissions

The amount of trading commissions depends on the type of the placed order: limit 0.02% (maker) or market 0.06% (taker). Besides, you can get an additional discount 30% on commission, if you use BGB to pay for them – own token of the Bitget exchange.

The main products of the exchange for traders

In early August, the Bitget team launched the Russian-language version of the site and began the expansion of the site in the CIS. For global and Russian traders, Bitget offers the following products:

Copy trading. Bitget has its own internal copy trading platform. Any user of the platform can subscribe to one of the 10 000 active traders and start copying all trades of a professional trader for profit. Thanks to the copy trades function, users do not need to manually open and close positions or watch the market – copying of transactions occurs automatically. Professional traders can use this feature to earn extra money and grow their followers..

Single USDT Contract. Bitget provides users with the ability to manage their assets with a single USDT account. Exchange clients can choose USDT as margin for trading multiple trading pairs with one total USDT balance for all accounts, including PNL calculation, used margin, as well as risk calculation. This tool is suitable for professional traders, for whom the simplicity and speed of execution of transactions is important. This account type – most popular on the Bitget exchange.

Quantum swap contract. This contract supports many currencies, which can be used as margin for trading multiple futures trading pairs. Usually cryptoasset margin futures allow traders to use only one cryptoasset to collateralize positions. Trading instruments are optimized thanks to quantum swap contracts, and users can double the profit from potential price fluctuations. Bitget was the first to launch quantum swap contracts in April this year.

An example of how a quantum swap contract works. The exchange client uses ETH as a margin and switches to trading any cryptocurrency pairs, eg: BTC/USD, ETH / USD, XRP/USD. However, when trading these pairs, profit and loss will be calculated in ETH.. A perpetual quantum swap contract avoids the conversion process and saves on cryptocurrency exchange fees.

BGB Tokens from Bitget

Bitget Token (BGB) – it is a modernized token of the Bitget trading platform. When using BGB tokens, site users receive the following benefits:

Discount on commissions for order execution. Using BGB as a trading margin will allow you to get 15% discount on exchange commission;

Discount on spot transaction fees. When using BGB to pay commission for spot transactions, the user receives a discount 30%;

Affiliate program reward. Clients of the site can receive payments for attracted users in BGB tokens.

Using a token for communication between subscribers and copy traders. BGB can pay for strategy subscriptions, purchase of training materials, etc..

As part of the expansion to the CIS markets, the exchange team actively attracts professional traders, opinion leaders, partners and ambassadors for mutually beneficial cooperation. To help the development of Bitget in the CIS countries, join the Russian-speaking community of the exchange in Telegram.