Comparison of Bitget vs Bitmex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitget vs Bitmex comparison!

Your expert: Alejandro Borja

Bitget

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitmex

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees, especially attractive for copy trading.

4.2 – Competitive fees with a focus on leveraged trading.

Level

0,10%

≤0,10%

Brief explanation

Bitget offers a competitive commission structure that is designed to facilitate both high-volume traders and those new to the cryptocurrency markets. The trading fees on Bitget are tiered based on the user’s 30-day trading volume, with rates decreasing as volume increases. This encourages active trading and can significantly lower costs for frequent traders. Fees for takers can vary but generally start around 0.075% and can go as low as 0.05% or even lower for VIP levels, making Bitget an attractive option for both novice and experienced traders looking for cost-effective trading solutions.

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

Bitget

Security Methods: Bitget employs robust security measures, including cold storage of funds, multi-factor authentication, and regular security audits by external firms. These practices ensure that user assets are well-protected against potential security breaches and hacks.
Reputation and Reviews: The exchange has built a strong reputation within the crypto community, backed by positive user reviews. Users frequently commend the platform for its reliability, user-friendly interface, and innovative features like copy trading.
Trading Volume and Liquidity: Bitget boasts a high trading volume and liquidity, which indicates a healthy trading environment. High liquidity not only enables users to execute trades more efficiently but also minimizes the cost of trading by reducing the spread between buy and sell prices.
Year Founded: Since its inception in 2018, Bitget has quickly risen to prominence in the crypto trading space. Its rapid growth and sustained presence in the market underscore its stability and enduring appeal to traders.
Customer Service: Although there is room for improvement, Bitget's commitment to customer service is evident. The platform offers support through various channels and is proactive in addressing user concerns, which helps in building trust and ensuring a positive trading experience for its users.

Read bitget review

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitget Global

HDR Global Trading Limited

Regulation

Not regulated

Not regulated, enfrentó acciones legales en los EE. UU.

Year founded

2018

2014

Founder

Sandra Lou

Arthur Hayes, Ben Delo, Samuel Reed

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bitget	FEATURES	Bitmex
Bitget allows small minimum trade amounts, suitable for beginners wanting to start with low stakes.	Minimum Trade	BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Competitive trading and transaction fees, lower than many industry averages.	Trading and Transaction Fees	BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Offers a moderate range of cryptocurrencies, covering most major and several altcoins.	Number of Cryptocurrencies	While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Provides a diverse range of crypto-to-crypto trading pairs with good market depth.	Crypto-to-Crypto Trading Pairs	BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
The website provides clear information on fees, policies, and trading options.	Website Transparency	The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Bitget does not offer an exchange card for in-store purchases.	Credit/Debit Card	BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Offers secure storage solutions with cold storage options to protect user assets.	Storage Offering	BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Provides staking options with competitive rewards, though not as extensive as some competitors.	Staking and Rewards	Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Excellent user interface on both mobile app and desktop, offering full trading functionality.	Mobile App and Desktop	Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Adequate customer support with room for improvement in response times and accessibility.	Customer Service	Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Efficient deposit and withdrawal processes, though limited by lack of fiat options.	Deposit and Withdraw	BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.

Key features

Analysis tools

Futures trading tools, technical indicators

High-level technical analysis tools, derivatives trading features

Mobile APP

Yes

Security

High 4,9/5

Additional features

Copy trading, futures trading, staking, Bitget Earn program

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Anonymity

Yes

Key points

Available cryptocurrencies

150+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

Bitget offers a user-friendly platform that is easy to navigate, with a focus on copy trading. The interface is designed to be accessible to beginners, allowing them to follow and replicate the trades of experienced traders.

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Value for money

Delivers good value for money with low trading fees and a focus on copy trading, making it an attractive option for new and experienced traders.

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Ideal for both novice and experienced traders interested in copy trading and leveraging the strategies of successful traders.

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Base currencies available

USDT, BTC

BTC, USDT (for derivative products)

Account

Trading

Bitget offers extensive trading options including futures and copy trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Deposit and withdrawal

Bitget supports multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed within 24 hours, and fees are low, making it suitable for frequent traders.

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Account opening process

Bitget offers a seamless account registration process. Users need to fill in personal details, verify their identity, and address. The process is quick and usually takes less than a day, making it user-friendly.

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes

Customer Service

Bitget provides support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited hours can be a drawback.

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Security

Bitget employs standard security measures like 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert reviewing cryptocurrency exchanges, I recommend Bitget for traders who prioritize security and a user-friendly trading experience. The platform’s robust security measures and intuitive interfaces on both mobile and desktop make it an excellent choice. However, potential users should note the lack of fiat deposit options, which might require accessing another exchange to convert fiat to crypto before trading on Bitget. Overall, its competitive fees and diverse trading options make it a strong candidate for those looking to expand their trading strategies in the crypto space.

Xavier Tarrasó

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.