Our review of Bitget crypto platform: 3.7/5

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Bitget in brief

Our opinion of Bitget

Bitget positions itself as a feature-rich exchange, offering spot and futures trading, copy trading, and passive income opportunities. 

We liked its low trading fees, especially for futures trading, where maker fees start at 0.02%, making it a competitive option for high-volume traders. We also appreciated the copy trading feature, which allows users to follow professional traders’ strategies, providing an interesting tool for those who prefer passive trading. The availability of staking, yield farming, and lending adds flexibility for users who want to earn rewards beyond trading.

The range of supported cryptocurrencies is impressive, with over 500 assets available, surpassing most regulated Canadian exchanges. The user interface is well-designed, making it easy to navigate even for those new to the platform. Additionally, the security measures, such as cold storage and two-factor authentication, provide a good level of protection for user funds.

We would have liked it if Bitget offered direct CAD deposits and withdrawals, as currently, users must rely on third-party payment providers, increasing costs and complexity. The platform is not registered with Canadian regulators, and its lack of oversight from IIROC, FINTRAC, and provincial securities commissions may be a concern for traders who prioritize compliance. Customer support is another area where improvement is needed—without live chat or phone support, users may experience delays in resolving issues.

While Bitget offers a strong feature set for experienced traders, its lack of Canadian regulatory approval, indirect fiat funding options, and limited customer support make it less ideal for those who want a fully compliant and seamless trading experience.

Let’s find out more about our test results.

Who is Bitget best for?

The platform is best suited for experienced traders looking for advanced trading options, low fees, and high-leverage trading rather than beginners or compliance-focused users.

Before you zero in on Bitget, compare the best crypto trading platforms in Canada:

Let's find out more about our test results on Bitget.

Reliability and Security 2.5/5

Bitget was founded in 2018 and has grown to become a well-known cryptocurrency exchange, particularly in the futures and derivatives trading sector. With over 20 million registered users worldwide, it has positioned itself as a platform offering advanced trading tools, copy trading, and staking options. While it has gained traction in the global market, it does not hold major industry awards, unlike some of its competitors.

Bitget is not registered with Canadian regulatory authorities, including the Ontario Securities Commission (OSC), the British Columbia Securities Commission (BCSC), or the Alberta Securities Commission (ASC). This means it operates without direct oversight from Canadian financial regulators, which may be a concern for traders who prioritize investor protection and compliance.

For security, the platform implements two-factor authentication (2FA), cold storage for digital assets, and anti-phishing protection. While these features help enhance security, the lack of Canadian regulatory approval means users have less recourse in case of disputes or issues with the platform.

Risk Control & Safety Features

• Cold storage to protect digital assets from hacking attempts.
• Two-factor authentication (2FA) for an added layer of account security.
• Copy trading risk management tools, allowing users to adjust trade allocations.
• Standard trading risk controls, such as stop-loss and take-profit orders.

Cryptocurrencies Available 4/5

Bitget has positioned itself as a global exchange with a strong focus on futures trading, offering a wide range of cryptocurrencies and trading pairs. With over 500 supported digital assets, it provides more variety than most regulated Canadian exchanges. However, unlike some major platforms, Bitget does not have an NFT marketplace, making it less appealing for users interested in digital collectibles and Web3 applications.

Below is a comparison of the number of crypto assets available on Bitget versus the market average:

Our opinion on Bitget's offerings

Bitget offers a large selection of cryptocurrencies and altcoins, making it a strong choice for traders looking for variety. However, the absence of an NFT marketplace and limited DeFi integrations prevents it from achieving a perfect score. Users seeking NFT trading or deep Web3 integration may need to explore other exchanges.

Services and Tools 3/5

Bitget provides a variety of trading and passive income tools, but it lacks some features that are available on competing exchanges. While the platform is strong in derivatives trading and copy trading, it does not offer a crypto card or NFT marketplace, which may limit its appeal to certain users.

• 💰 Lending: ✅ Available – Users can lend certain cryptocurrencies and earn interest through Bitget Earn.
• 🔗 Staking: ✅ Available – Supports staking for select cryptocurrencies, offering passive income opportunities.
• 🌾 Yield Farming: ✅ Available – Users can engage in liquidity farming to earn rewards on their crypto holdings.
• 📊 Copy Trading: ✅ Available – One of the platform’s key features, allowing users to replicate professional traders’ strategies.
• 🏦 Dual Investment: ✅ Available – Users can participate in structured investment products with fixed returns based on market conditions.

Fees and Commissions 4/5

Bitget positions itself as a low-cost exchange, particularly in futures trading, where its fees are among the most competitive in the market. The platform charges maker fees as low as 0.02% and taker fees at 0.06% for futures, while spot trading fees start at 0.1%. However, unlike some competitors, Bitget does not offer significant trading fee discounts for high-volume traders or native token holders.

Below is a comparison of Bitget’s trading fees versus the market average for the most traded cryptocurrencies:

Other Fees

• Deposit Fees: ❌ No fees for crypto deposits, but third-party fiat deposit services may charge processing fees.
• Withdrawal Fees: ✅ Varies by crypto (e.g., BTC: 0.0005 BTC, ETH: 0.005 ETH). Generally competitive but not the lowest.
• Conversion Fees: ✅ Applies when swapping between different cryptocurrencies.
• Inactivity Fees: ❌ None – Unlike some platforms, Bitget does not charge account inactivity fees.

Our opinion on Bitget's fees and commissions

Bitget provides some of the lowest fees for futures trading, making it an excellent choice for high-volume and leveraged traders. However, spot trading fees are average, and the lack of direct fiat deposit support means users may incur extra charges from third-party services. The competitive withdrawal fees help offset some of these costs, but overall, the platform remains more suited for active traders rather than casual investors.

Customer Reviews 3/5

Bitget has a Trustpilot rating of 3.0/5 based on 2,011 reviews, reflecting mixed feedback from users. While some traders appreciate its low fees and copy trading features, others report issues with withdrawals, customer support delays, and account verification problems.

Here are some recent reviews from Canadian users:

• Daniel M (January 20, 2025): "Bitget has great trading fees, especially for futures. I’ve been using it for leveraged trading, and the execution speed is decent. However, I had trouble withdrawing funds last month—my USDT transfer was stuck for over 24 hours with no explanation. Customer support was slow to respond, and it took multiple emails to get my withdrawal processed."
• Sophie R (December 5, 2024): "I signed up for Bitget mainly for copy trading, and it’s been a good experience so far. I’ve been following a few top traders, and the returns have been decent. That said, I wish the platform had better fiat deposit options for Canadians. Having to go through third-party services adds extra fees, which makes it more expensive compared to other exchanges."
• Ryan T (November 18, 2024): "The trading interface on Bitget is smooth, and I like that they offer a wide range of altcoins. However, I had major issues with account verification. It took almost two weeks for my ID to be approved, and support wasn’t helpful. If you’re looking for a fast and easy onboarding process, this might not be the best platform."

How does Bitget compare to other Crypto brokers?

Bitget is a futures-focused crypto exchange that offers a variety of trading features but lacks key regulatory approvals and fiat deposit options for Canadian users. Below is a comparison with three other well-known platforms:

Conclusion of our analysis of Bitget

This platform is designed for experienced traders who focus on futures and derivatives trading, offering low fees, copy trading, and high leverage. However, its lack of regulatory approval in Canada, no direct fiat support, and missing features like an NFT marketplace and crypto card make it less attractive to users looking for a fully integrated crypto experience.

The platform's security measures are solid, but limited customer support options and regulatory concerns may deter compliance-focused traders.

Before opening an account on Bitget, compare the best crypto brokers and platforms in Canada:

What types of accounts are available with Bitget?

Bitget offers different account levels tailored to different trading needs. Below is a comparison of the available accounts:

Bitget’s account structure is tiered, offering more benefits as users verify their identity and increase their trading activity.

Standard Account

The Standard Account requires only email registration, allowing access to basic trading features such as spot and futures trading. However, fiat deposits and withdrawals are not available, and users must complete identity verification (KYC) to unlock more platform features.

KYC-Verified Account

A KYC-Verified Account requires full identity verification, allowing access to fiat deposits and withdrawals via third-party services. Users also gain higher trading limits and access to additional security features. This is the recommended account type for most users.

VIP Account

The VIP Account is designed for high-volume traders or users holding large amounts of Bitget’s native BGB tokens. VIP members benefit from lower trading fees, higher withdrawal limits, priority customer support, and access to exclusive trading features.

Bitget’s account system provides flexibility for different trader types, but the lack of direct fiat deposit options and limited VIP perks compared to competitors may reduce its appeal for some users.

How do deposits and withdrawals work with Bitget?

Bitget provides several deposit and withdrawal options, but it lacks direct CAD support, requiring users to use third-party payment providers. Below is a summary of the available methods, supported currencies, processing times, and associated fees:

Bitget offers a variety of deposit and withdrawal options, but its lack of direct CAD deposits and withdrawals puts it at a disadvantage compared to Canadian-regulated exchanges. Users must rely on third-party payment providers, which charge higher fees than direct bank transfers. Crypto deposits are free, but withdrawal fees vary based on network congestion, making transactions less predictable in cost.

Compared to some competitors that offer free or low-cost fiat transactions, Bitget’s third-party processing fees can make trading more expensive. The P2P trading option is a positive feature, but it requires trust in individual sellers, which might not be ideal for all users. While the instant transaction times for most methods are convenient, the extra steps required for fiat transactions make Bitget less user-friendly for beginners.

Does Bitget offer crypto staking?

Crypto Staking on Bitget

Bitget offers staking services through its Bitget Earn program, allowing users to earn passive income on select cryptocurrencies. The platform provides both flexible staking, which allows users to withdraw funds at any time, and fixed-term staking, which offers higher rewards for locking assets for a set period.

Staking on Bitget provides moderate returns, but its fixed-term APYs are generally lower than some competing platforms. The availability of flexible staking options makes it appealing for users who want liquidity while still earning rewards.

Crypto Lending on Bitget

Bitget also offers crypto lending, enabling users to lend out their assets and earn interest. The platform provides short-term lending options with competitive yields, allowing users to earn passive income while still holding their crypto.

Expert advice

Bitget’s staking and lending features provide reasonable passive income opportunities, but its rates are not the most competitive in the market. The lack of long-term lending options and limited selection of supported staking assets make it less attractive for users seeking higher returns compared to platforms with more extensive DeFi integrations.

How are revenues generated by Bitget taxed?

In Canada, income generated from cryptocurrency trading on Bitget or any other exchange is subject to taxation under the Canada Revenue Agency (CRA) guidelines. The tax treatment depends on whether the activity is classified as capital gains or business income.

• Capital Gains Tax: If you buy and sell crypto as an investment, only 50% of your profits are taxable. This applies when selling crypto for fiat, swapping one cryptocurrency for another, or using crypto to purchase goods or services.
• Business Income Tax: If you engage in frequent trading, use leverage, or operate as a professional trader, the CRA may classify your earnings as business income, meaning 100% of your profits are taxable at your personal or corporate tax rate.

Declaring Crypto Income in Canada

• Keep Records of All Transactions: This includes dates, amounts, transaction values in CAD, and purpose of each trade. The CRA requires detailed records of crypto trades, staking rewards, lending interest, and any other crypto-related income.
• Report on Your Tax Return:
• Capital Gains: Declare on Schedule 3 of the T1 tax return under "Capital Gains (or Losses)".
• Business Income: Report on Form T2125 if trading is considered business activity.
• Staking and Rewards: Report staking and other rewards as income at the time of receipt. If sold later, capital gains tax may also apply.
• Consider GST/HST Registration: If your crypto trading or lending is classified as a business and earns over $30,000 annually, you may need to register for GST/HST and charge tax on certain transactions.

Tax Implications for Bitget Users

Since Bitget is not a Canadian-registered exchange, it does not automatically report transactions to the CRA. However, Canadian traders are still legally required to declare their crypto income. Using crypto tax software or consulting a tax professional is advisable to ensure compliance, especially for users engaged in futures trading, staking, or lending activities.

Watch out!

Failure to report crypto income can result in CRA audits, penalties, and interest charges, making accurate record-keeping and tax reporting essential for Canadian users.

Contact: How to contact Bitget customer service?

FAQs

Nishadh Mohammed

Nishadh Mohammed is a seasoned news editor and financial writer, working with HelloSafe since May 2023. Nishadh has developed expertise in financial markets, insurance, and investment products, with a deep understanding of the Canadian financial landscape. He has honed his SEO skills and content marketing strategies while writing for Canadian publishing houses. Armed with a master's in Business Analytics and extensive journalistic experience, Nishadh uniquely combines data proficiency and thorough research to deliver comprehensive and accessible information.