Comparison of Bitget vs Independent Reserve [ 2024 ]

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

Your expert: Alejandro Borja

Bitget

Your expert: Xavier Tarrasó

Independent Reserve

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,50%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees, especially attractive for copy trading.

3.9 – Reasonable fees with strong local support in Australia and New Zealand.

Level

0,10%

≤0,50%

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.

Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average.

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.

Independent Reserve

Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability.
Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support.
Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users.
Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter.
Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitget Global

Independent Reserve Pty. Ltd.

Regulation

Not regulated

Regulated in Australia

Year founded

2018

2013

Founder

Sandra Lou

Adam Tepper

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitget	FEATURES	Independent Reserve
Bitget allows small minimum trade amounts, suitable for beginners wanting to start with low stakes.	Minimum Trade	Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Competitive trading and transaction fees, lower than many industry averages.	Trading and Transaction Fees	Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Offers a moderate range of cryptocurrencies, covering most major and several altcoins.	Number of Cryptocurrencies	Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Provides a diverse range of crypto-to-crypto trading pairs with good market depth.	Crypto-to-Crypto Trading Pairs	The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
The website provides clear information on fees, policies, and trading options.	Website Transparency	The website is user-friendly and transparent about fees, regulations, and available services.
Bitget does not offer an exchange card for in-store purchases.	Credit/Debit Card	Independent Reserve does not offer a card for in-store purchases.
Offers secure storage solutions with cold storage options to protect user assets.	Storage Offering	Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Provides staking options with competitive rewards, though not as extensive as some competitors.	Staking and Rewards	Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
Excellent user interface on both mobile app and desktop, offering full trading functionality.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Adequate customer support with room for improvement in response times and accessibility.	Customer Service	Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Efficient deposit and withdrawal processes, though limited by lack of fiat options.	Deposit and Withdraw	Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.

Key features

Analysis tools

Futures trading tools, technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Copy trading, futures trading, staking, Bitget Earn program

OTC trading, SMSF services, staking, insurance options

Anonymity

Yes

Key points

Available cryptocurrencies

150+

20+

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.

Independent Reserve offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Australia, New Zealand, Singapore

Best for

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

Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

Base currencies available

USDT, BTC

AUD, NZD, USD, BTC

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.

Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

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.

Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

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.

Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

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.

Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

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.

Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

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 in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

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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.