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Binance vs Bitget 2024 – The Only Comparison You Need

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February 7, 2024
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Binance vs Bitget comparison

Binance and Bitget are Tier-1 crypto exchanges and are used by millions of users. But which exchange is better, and which one suits YOU? There are some key differences between the two crypto trading platforms. In this review, we will uncover absolutely everything that you need to know.

This table compares all key measures of Binance and Bitget, two of the largest crypto exchanges in the world

 

Bitget vs Binance Sign up and KYC

The signup process on both exchanges is straightforward. You can create your account with your email or phone number and a strong password, that’s all. Simply verify your email or phone number with the 6-digit code you will receive and you’re good to go.

Where the exchanges differ is the KYC process. First of all, Bitget used to be a non-KYC exchange. That means you could use Bitget without having to verify your identity and you can stay anonymous. This allows many users to access the exchange, even from restricted areas when using a VPN. However, in september 2023, Bitget made KYC mandatory. You now need to register with personal information such as an ID or Passport.

Binance also requires every user to verify their identity through their KYC. The process requires personal data and documents. Binance accepts IDs, Passports, and Driver’s licenses. Furthermore, Binance can request proof of address where you have to submit a utility bill or bank statement no older than 3 months.

Verifying your identity on both exchanges comes with many perks such as lifted withdrawal limits. Especially for large traders, the low withdrawal limit for non-KYC users on Bitget can be too low. The KYC process on Bitget is very similar to the Binance process and requires the same documents.

 

Bitget vs Binance Trading Features Compared

Binance and Bitget are dedicated crypto exchanges with a strong focus on trading. You will get access to a spot and futures market on both platforms. In the table below, you will see the key trading data for Binance and Bitget.

FeatureBinanceBitget
Spot Coins386600
Spot Pairs1695900
Futures Contracts260280
Spot Fees0.1%0.1%
Futures Fees0.02% / 0.05%0.02% / 0.06%
Leverage125x100x
Liquidity Score9/107/10
24h Spot Volume$8+ b$1+ b
24h Futures Volume$30+ b$7+ b

 

Spot Trading

The spot market on Binance supports 386 coins and 1695 different trading pairs. Binance offers so many trading pairs as it supports many stablecoins such as USDT, USDC, BUSD, and TUSD. With fees of 0.1% you will enjoy fair rates on the Binance spot market.

Binance Spot Trading Interface

Bitget supports more coins but fewer pairs. With 547 different cryptocurrency coins on the spot market, Bitget has a lot of options for traders. The amount of trading pairs is just 754, less than half of what Binance offers. This is because Bitget settles most spot pairs in USDT and USDC. The spot trading fees are 0.1% too.

For the Spot market, Bitget seems to be the better option due to the number of different coins. The fees are the same and most pairs are settled in USDT which is the industry standard.

Bitget Spot Trading Interface

 

Futures Trading

When it comes to the futures market, Binance has 259 pairs available. With 0.02% maker and 0.05% taker fees, you also have trading low fees. The 24-hour trading volume reaches over $50 million and is clearly the number one on the derivatives market. The maximum leverage is 125x on major pairs such as Bitcoin and Ethereum.

Binance Futures Trading Interface

 

The futures trading volume on Bitget reaches $6-8 million per day. This might sound little compared to Binance, yet this places Bitget in the top 10 exchanges worldwide in terms of trading volume. With 0.02% maker and 0.06% taker fees, Bitget offers fair rates on the futures market and the highest leverage is 100x.

Bitget Futures Trading Interface

 

Overall, Binance seems the better option for leverage trading as the fees on the futures market are lower and there are more available coins. But one key thing to note about Binance is that it restricts many users, especially from European countries. Some countries such as Germany and France have no access to the futures market on Binance at all. For these locations, we recommend Bitget as a reliable alternative.

 

Order Types

As Binance is the most comprehensive trading platform, it also has more advanced order types. Especially TWAP and Iceberg orders are missing on Bitget. If you are an advanced trader, Binance has more order types for you.

Order TypeBinanceBitget
Market
Limit
TP/SL
Stop Limit
Stop Market
Trailing Stop
Post Only
GTC (Good Till Cancel)
IOC (Immediate Or Cancel)
FOK (Fill Or Kill)
TWAP
Iceberg/Hidden
Hedge Mode

 

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Bitget vs Binance Trading Fees

The spot trading fees on both platforms are 0.1% for makers and takers. Both exchanges offer a fee discount when holding their native token.

When holding BNB on Binance you can activate a 25% spot fee discount, lowering your fees to 0.075%.

Binance Spot Fees

 

On Bitget on the other hand, you must hold the BGB token to receive a 20% spot fee discount leaving you with 0.08% fees.

Bitget Spot Fees

 

Though, one more key thing to know about Binance is that they offer 0% fee trading on the BTC/TUSD spot trading pair.

The futures fees of Binance start at 0.02% maker and 0.05% taker. When holding BNB you can activate a 10% fee discount.

Binance Futures Fees

 

Bitget charges 0.02% maker and 0.06% taker fees for futures traders, making the platform a lot more expensive for leverage traders. There are also no BGB discounts for futures trading.

Bitget Futures Fees

 

In terms of fees, Binance is the clear winner. With lower fees overall and even larger discounts, Binance is more affordable to trade on.

 

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Bitget vs Binance Copy Trading

The copy trading feature is one of the key selling points of Bitget. And indeed, their copy trading is one of the best in the crypto market. You can analyze the performance of traders and follow them with just a few clicks.

Bitget Copy Trading

 

Unfortunately, Binance has no directly integrated copy trading features. If you wish to copy trade you have to use Traderwagon, which is a partner of Binance that offers copy trading as a third party.

Traderwagon Copy Trading

 

The setup of Binance copy trading through Traderwagon is a lot more complicated and many people don’t even know about this, so the point for Copy trading goes to Bitget.

 

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Bitget vs Binance Mobile Application

Trading from the phone can be great, especially when using the right app. Binance and Bitget both have a mobile phone application for iOS and Android devices.

What stood out to us most, was how comprehensive the Binance app was compared to Bitget. You have a lot more features and tools. It is important to keep in mind that Binance is the most comprehensive crypto exchange with the most products and services. You will find everything you are looking for on the app. The downside of offering such a massive app is its reliability. Unfortunately, the Binance app can be slow at times, especially when the market is very volatile.

Binance App

 

The Bitget mobile app is perfect for traders. While the Bitget app does not offer as many features as Binance, it still provides you with all the tools you require for entering and exiting trades. The reliability was a lot better when compared to Binance. The Bitget app was faster and ensured a smooth experience.

Bitget App

 

Depending on what you are looking for, both apps are good. Just for trading on the phone, Bitget has the upper hand. If you also want to use other products such as earn, staking, lending, or more, Binance is for you as they offer by far the most comprehensive app.

 

Bitget vs Binance Reliability and User Experience

As Binance is by far the largest crypto exchange with the most products and services, it is a lot harder to navigate through the platform. Especially for new traders, Binance can be very confusing. While the interface is well-designed, it is also loaded with tons of information.

Advanced traders won’t have a problem with this, but beginners might struggle with it.

 

Bitget kept things more simple and more straightforward. The interface is well-designed with user-friendliness in mind.

In terms of reliability, we noticed that Binance is a lot slower, especially in times of high volatility. This makes the platform less reliable and active day traders are held back by the performance of Binance. Some pages load slowly and some charts do not load at all until refreshing the page.

Bitget is one of the most reliable and smoothest trading platforms. When testing the platform, we did not encounter any bugs, lags, or other network issues.

 

For user-friendliness, Bitget is the clear winner. The navigation is simple due to the user-friendly interface. Not just the trading interface designed well, but the platform overall. You will have no issues navigating through your account dashboards on Bitget. But keep in mind, this also comes with a smaller repertoire of products.

Binance is just such a massive platform that all of the available services slow the performance down. Furthermore, Binance has a lot more users, meaning that the network of Binance is always tested heavily.

 

Bitget vs Binance Deposit Methods

Both exchanges offer the typical crypto deposit methods.

When looking at the FIAT deposit methods, Binance offers some of the lowest fees when depositing EUR via bank transfer for only 1€. The transfers take 1-3 business days and you can then use your FIAT balance to purchase cryptos on the spot market or convert them directly from your wallet without fees. The supported payment methods include 20 different FIAT currencies. Some of the most used ones are EUR, AED, AUD, BRL, and TRY.

Binance FIAT Deposit

 

Furthermore, you can deposit FIAT or purchase cryptos on Binance with a credit card or through Google or apple pay.

 

Bitget offers FIAT deposits in EUR, GBP and BRL. The supported payment methods are SEPA for EUR and GBP deposits and PIX for BRL deposits.

Bitget FIAT Deposit

 

Bitget vs Binance Withdrawal Methods

Crypto withdrawals differ for each cryptocurrency and network. It is best to manually check the crypto and network fees whenever you want to send your funds to another wallet. Based on network capacity, the fees can increase.

The Binance crypto withdrawal limits are not capped. You can withdraw as much crypto as you want.

Bitget withdrawal limits are based on your KYC level.

When it comes to FIAT withdrawals, Binance has you covered with over 40 different currencies that you can send right to your bank account. The fees for bank transfers are fixed at 1€/£ and take 1-3 business days. Alternatively, you can instantly withdraw FIAT to your visa or MasterCard with a 1.8% fee.

Binance FIAT Withdrawals

 

Based on your KYC level, you can withdraw $50,000 to $2 million worth of FIAT per day. If you are a crypto whale, you can manually request to increase your FIAT withdrawal limit.

 

Bitget on the other hand offers FIAT withdrawals in EUR, GBP, and BRL. The best thing about Bitgets FIAT withdrawals is the low fee of 0.5€/£ for SEPA transfers. For BRL transfers, the fees are 0% for PIX transfers.

Bitget FIAT Withdrawals

 

The FIAT withdrawal time on Bitget is 1-2 business days.

Below you will find a table with the respective 24-hour withdrawal limits. While Bitget offers crypto withdrawals for non-KYC users, you must verify your identity on both platforms if you want to withdraw FIAT currencies.

KYC LevelBinanceBitget
000
1$8m Crypto / $50k fiat$3m Crypto / $50k fiat
2$8m Crypto / $2m fiat$3m Crypto / $2m fiat

 

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Bitget vs Binance Earn and Finance Products

If you are looking for ways to make passive income, both exchanges have some great deals for you. But one platform stood out quite a lot.

Binance offers Binance Earn, Liquidity Farming, Mining rewards, Automated Range trading, ETH staking, Auto invest, dual investment, and DeFi staking. Furthermore, you can apply for the Binance visa card where you can receive up to 8% cashback on your purchases. And if you want to borrow funds, you can use the Binance Loan service.

Binance Earn Products

 

Also, Bitget offers ways to earn passive income. The platform offers Bitget Earn, Savings accounts, Staking, Dual Investment, and automated range trading.

Bitget Earn Products

 

It is clear that Binance is the winner in terms of passive income products in the earn and finance section. If you are looking for ways to let your money work for you, Binance is clearly the better choice.

 

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Bitget vs Binance Security

None of the exchanges have been hacked and they are both considered to be some of the safest options out there.

Binance and Bitget provide full proof of reserves. That means the customer funds are backed 1:1 on the exchange.

Bitget Proof of Reserves

 

Furthermore, most of the funds are kept in cold storage multi-sig wallets. These wallets are offline and require signatures from multiple individuals in order to be unlocked. This makes hacking them nearly impossible.

What really stands out is that both exchanges have a comprehensive security fund to which a certain percentage of the trading fees is directly allocated. Binance has the SAFU fund, currently worth over $1 billion.

Binance Security Fund

 

Bitget on the other hand has a security fund of over $700 million.

Binance and Budget are both market leaders in terms of security funds for customers.

For the security section, there is no clear winner, however, Binance has a better reputation. Still, both exchanges seem to be equally secure based on their clean track record.

Disclaimer: We never recommend storing any cryptocurrencies on exchanges. Only keep on the exchange what you are actively trading with. The rest should be stored in your private wallet.

 

Bitget vs Binance Rewards and Bonuses

It is common for cryptocurrency exchanges to offer rewards and trading bonuses to their users.

Binance offers fee rebates from $100 to $600 for new users. Unfortunately, Binance does not make it very clear how to obtain these rebates.

At the same time, Bitget offers up to $8000 in bonuses. The requirements are also transparent and clearly explained on the page.

It is safe to say that Bitget has one of the most generous reward centers in the crypto space.

Bitget Welcome Bonus

 

Bitget vs Binance; Who is better?

Due to its sheer size and available products and services, Binance has the upper hand in most points. If you are looking for a secure exchange with tons of crypto-related products, Binance is a top choice for you. But keep in mind that not every location can use the full potential of Binance. For many European countries, Binance heavily restricts futures trading and other features.

If you are in one of the restricted European areas such as Germany or France, we recommend you check out Bitget where you can trade on a comprehensive futures market with low fees and high leverage without any limitations. Also, if you wish to stay anonymous, Bitget is the way to go for you.

 

FAQ

Which exchange is better, Binance or Bitet?

Overall, Binance seems to be the better option. However, both exchanges have different strengths and weaknesses. We recommend you give both a try and see which one you prefer.

Which exchange has lower fees, Binance or Bitget?

Binance has lower fees on the futures market. The spot fees are the same.

Which exchange is more secure, Binance or Bitget?

Both exchanges have never been hacked, provide proof reserves, and have multi-million dollar security funds to protect customers. The customer funds are also stored in multi-sig cold storage wallets.

Which exchange is better for copy trading?

Bitget is the clear winner for copy trading as they have it directly integrated into their platform. Binance unfortunately requires a third-party program called “Traderwagon” in order to perform copy trading.

Which exchange is more reliable and user-friendly?

Bitget is overall more reliable and more user-friendly than Binance. The Bitget platform is simple to navigate and ensures a smooth experience. Unfortunately, Binance can be slow sometimes and it might be overwhelming for beginners.

 

Our recommendation:

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