Currently ranking in the top 5 Crypto Derivatives Exchanges, in terms of the highest market cap, according to the Coinmarketcap data, Bitget is a popular centralized exchange launched in April 2018. The platform was founded by Sandra Lou and now serves more than 8 million crypto traders worldwide.
One of the key reasons why Bitget has been able to attract such a massive number of traders is its friendly approach to crypto trading and low trading fees. If you are not familiar with the Bitget fee structure, then stick with us and read this article till the end, as we are going to discuss, in-depth, the Bitget fee structure for different services. (Learn how to use Bitget.)
Bitget Deposit Fees
Unlike other centralized exchanges, Bitget has a zero deposit fee policy for all cryptocurrency deposits. This means that no matter how large or how many transactions you are going to make, the exchange will charge a zero percent fee on all deposits. (Learn how to deposit on Bitget.)
Bitget Trading Fees
The platform trading fees vary depending upon the trading mode, as Spot Trading has a different fee structure than Futures Trading. (Learn how to trade on Bitget.)
Bitget Spot Trading Fees
In the Spot Trading section of Bitget, for each trade, a standard fee of 0.1% applies for both takers and makers. This fee structure is for Non-VIP regular users. With VIP badges, which go up to VIP LEVEL 5, users can enjoy a fee discount of up to 0% for makers and 0.016% for takers.
How to use Bitget token (BGB) fee deduction
Whether you are a Non-VIP regular user or a VIP trader, Bitget offers a discount on fees up to 20% for both makers and takers if you enable Bitget token BGB for fee deduction on the platform. However, keep in mind this fee discount is limited to only spot trading. Users trading in Futures, Cross Margin, and Isolated margin can’t benefit from it.
By default, the BGB fee deduction features might be disabled for your account. So, if you want to avail this discount, then follow the below steps.
- Go to the Bitget app, open it, and then tap on the Profile icon in the top left corner.
- Once you do that, a new page containing Security, ID verification, and preferences options will appear.
- Now, scroll down a little bit, and you will see an option Use BGB to pay fees.
- Enable this option to start earning fee discounts.
Bitget Futures Trading Fees
One of the key reasons why Bitget gained a lot of attraction from traders was its access to tons of crypto futures derivatives and lowest futures trading fees compared to some other popular centralized exchanges. The platform offers a standard fee of 0.02% for makers and 0.06% for takers for futures contract transactions. If you are a VIP Level trader, fees can be further decreased to as low as 0.035%.
What are Makers & Takers?
Centralized exchanges like Bitget are made up of makers and takers to keep their business running. In simple terms, makers and takers can be defined as two entities facilitated by exchanges to settle a crypto deal.
Makers can be defined as liquidity providers who place limited orders on the order book for a particular cryptocurrency at a specific price (Buy/Sell). While takers, on the other hand, are market participants who take liquidity from the order book by executing a trade immediately at the best price available.
How to calculate the fee on Bitget?
Calculating fees on Bitget manually is pretty easy using a simple formula given below.
Bitget Trading fee = Order value x Fee rate = Fee
Here is an example of how you can calculate with ease.
Suppose that you are going to purchase Ethereum worth $2000 USDT coins on Bitget as a maker, while the fee for it is 0.1%. Then, here is how the fee will be calculated.
Ethereum Trading Fee= $2000 x 0.1% = 2 USDT
So, the Bitget fee for a trade worth $2000 USDT, at a fee rate of 0.1%, will only be 2 USDT.
Let’s take another example, and this time suppose that we are trading in futures, and the taker fee is 0.06%.
If we are going to buy 2 BTC at the current BTC value of $30K, then we have to modify our formula of fee calculation, which will now be:
Trade Fee = Number of Contracts x Current Asset value x Fee rate = Fee
Here is how it will work.
BTC Trade Fee = 2 x 30000 x 0.06 = 36 USDT
Hence, for buying 2BTC at the rate of $30K, the fee will only be 36 USDT.
Bitget VIP Services
Recently, Bitget introduced a new feature known as Bitget VIP Services to further enhance its customers’ experience by providing additional privileges, such as Fund Custody, High Yield Products, and an Exclusive VIP funding rate.
These VIP services include the previously mentioned advantages; traders can further benefit from this program by earning discounts on trades and getting access to premium tools that regular traders can’t enjoy, such as the Exclusive Green channel to deposit and withdraw, Account Manager, Festive rewards, and more.
Bitget Withdrawal Fees
The platform does charge a fee on all crypto withdrawals, but there is no standard fee structure for it. Instead, withdrawal fees are continuously adjusted by the entity depending upon network conjunction and market condition.
According to the latest fee data provided on the official site, if someone withdraws Bitcoin via Bitcoin Blockchain, then a flat fee of around 0.0005 BTC will be charged. But if you withdraw BTC via Binance Smart Chain (BEP-20), then the Bitcoin trading fee will only be 0.0000051 BTC per transaction.
Bitget Fees Discount
As a part of the promotional campaign, traders can earn fee discount vouchers and many more rewards in the form of BGB and other cryptos, like USDT, by participating in activities like making a first transaction using the P2P method and achieving a certain trading volume in Futures and Spot option. That’s not all; Bitget also has an affiliate program that enables influencers to earn discounts just by inviting others to join this platform. (Learn to buy crypto in Bitget P2P marketplace.)
If you don’t have an account with Bitget, here is the Coin-Labs referral code applied button for sign-up.
FAQs
What are Bitget fees?
In simple words, Bitget fees can be defined as exchange charges for providing services like Crypto Trading, Live Support, and managing user funds.
What fees does Bitget charge?
The platform charges fees for crypto trading and withdrawal. However, there are zero fees if you are going to deposit your crypto assets into Bitget.
How much are Bitget fees?
Bitget fees vary depending on the services a customer is utilizing. For example, there is a flat fee of 0.1% for regular traders for Spot trading. However, the fee structure for futures trading, staking, and withdrawal differs from the Spot fee.