Comparison of Bitget vs Simpleswap [ 2024 ]

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

Your expert: Alejandro Borja

Bitget

Your expert: Xavier Tarrasó

Simpleswap

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≈ 1,20%/2%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees, especially attractive for copy trading.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

0,10%

≈ 1,20%/2%

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.

SimpleSwap’s commission structure is streamlined to cater primarily to crypto-to-crypto transactions. It charges a variable fee for each transaction, which typically ranges from 0.1% to 0.5% depending on the specific cryptocurrencies involved and market conditions. This fee is integrated into the exchange rate displayed at the time of the transaction, ensuring transparency. The platform does not impose additional fees for deposits or withdrawals in cryptocurrencies, which is a significant advantage for users looking to minimize costs. However, users should be aware of network fees determined by the blockchain of the cryptocurrency being used, which are not controlled by SimpleSwap but are necessary for processing the transactions on the respective networks.

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.

Simpleswap

Security Methods: SimpleSwap ensures security by utilizing standard encryption protocols and security measures, safeguarding user transactions and data from unauthorized access.
Number of Cryptocurrencies: Supporting over 300 cryptocurrencies, SimpleSwap provides a diverse and extensive range of trading options, which speaks to its robustness and adaptability in the dynamic crypto market.
Trading Volume and Liquidity: Although specific numbers on trading volume aren't disclosed, the variety of cryptocurrencies supported and the platform's ability to fulfill swap requests promptly suggest a healthy level of liquidity.
Customer Service: SimpleSwap offers reliable customer support, which is crucial for user trust. Their support is accessible and designed to assist users with any issues or questions they may encounter.
Reputation and Reviews: The platform has gained positive reviews from users for its ease of use and efficiency. These testimonials build credibility and trust among potential and existing users, highlighting SimpleSwap's commitment to user satisfaction.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bitget Global

SimpleSwap Ltd

Regulation

Not regulated

Year founded

2018

Founder

Sandra Lou

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bitget	FEATURES	Simpleswap
Bitget allows small minimum trade amounts, suitable for beginners wanting to start with low stakes.	Minimum Trade	SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount.
Competitive trading and transaction fees, lower than many industry averages.	Trading and Transaction Fees	The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency.
Offers a moderate range of cryptocurrencies, covering most major and several altcoins.	Number of Cryptocurrencies	Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets.
Provides a diverse range of crypto-to-crypto trading pairs with good market depth.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies.
The website provides clear information on fees, policies, and trading options.	Website Transparency	While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics.
Bitget does not offer an exchange card for in-store purchases.	Credit/Debit Card	SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions.
Offers secure storage solutions with cold storage options to protect user assets.	Storage Offering	Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent.
Provides staking options with competitive rewards, though not as extensive as some competitors.	Staking and Rewards	Limited staking options and rewards are available, which could be enhanced to attract long-term investors.
Excellent user interface on both mobile app and desktop, offering full trading functionality.	Mobile App and Desktop	Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features.
Adequate customer support with room for improvement in response times and accessibility.	Customer Service	Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times.
Efficient deposit and withdrawal processes, though limited by lack of fiat options.	Deposit and Withdraw	Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature.

Key features

Analysis tools

Futures trading tools, technical indicators

No trading tools, primarily a swap service

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

Copy trading, futures trading, staking, Bitget Earn program

Instant crypto swaps, SimpleSwap Earn, loyalty program

Anonymity

Yes

Key points

Available cryptocurrencies

150+

300+

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.

SimpleSwap features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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 a straightforward swapping service, making it an easy option for quick trades.

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.

Best for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USDT, BTC

BTC, ETH (varies by transaction)

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.

SimpleSwap is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

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.

SimpleSwap is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly with low 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.

SimpleSwap offers an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically 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.

SimpleSwap offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

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.

SimpleSwap offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some 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 on cryptocurrency exchanges, I find SimpleSwap to be a commendable platform for those just starting with cryptocurrencies. Its straightforward and intuitive interface removes much of the complexity typically associated with crypto trading. This accessibility makes it an excellent choice for newcomers who might be overwhelmed by more advanced trading platforms. However, it’s important to note that while SimpleSwap excels in simplicity and ease of use, it may not fully satisfy the needs of more seasoned traders looking for advanced trading tools and features. For those just entering the crypto space, SimpleSwap offers a gentle introduction without the intimidating barriers to entry seen in other exchanges.

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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.