BitBoy Crypto provides a tutorial on Bitget, an exchange and trading platform that offers regular, spot and leverage trading. The exchange’s user interface separates it from other platforms, and it offers risk management tools such as isolated leverage, which only pulls extra leverage from a trade, and cross leverage, which can seep into other funds in the account. Bitget also offers futures trading, and its Coin-M Futures option allows users to trade in contracts based on US dollars. Proper risk management is essential, and the use of stop loss and take profit buttons are necessary to minimise losses.
Welcome to BitBoy Crypto!
My name is Ben, and today we’re going to be breaking down Bitget for you. It’s an exchange, trading platform where you can do leverage trading and also other types of trading, including regular spot.
Why You Might Want to Do Spot Trading on Bitget
There’s actually a lot of reasons why you might want to do spot trading on Bitget. We’ll get into that later. We’re going to do a full breakdown tutorial of how to do it, how to use it, how to sign up, and also what is leverage trading? How can you do it? Is it dangerous? We’re going to break all that down today. So let’s go and get started.
Bitget User Interface
We are on the Bitget exchange. When you pull up this exchange, you’ll notice it looks like a lot of other leverage trading platforms. I think there’s like one common website builder they all use. I don’t know. Call me crazy. A lot of them have these panels that will scroll through with newer updated events and information.
Copy Trading and Bitget Launchpad
Bitget has copy trading on here. PrimeXBT has used it. It’s a feature that a lot of people like. They also have a launchpad as well. You can check out their launchpad here. BitGet, PandaFarm, a coin that just launched.
Risk Management with Isolated Leverage vs. Cross Leverage
Risk management is a hot topic. One of the risk management tools they have here is isolated leverage versus cross leverage. If you’re using isolated leverage, that means that basically your account is– or your trade is only going to pull extra leverage that it needs from its own trade. If you use cross leverage, any extra money you have in your account that you aren’t allocating towards this trade, it will actually seep into and pull that money out. So, in my opinion, I think isolated leverage is by far the best because it’s more controllable.
Trade Types on Bitget
What types of trades can you do here on Bitget? Well, of course, they have spot trading which is just the everyday trading that you’re used to making on an exchange. You also have leverage trading which would be the Futures based on US dollars and perpetual contracts based on USDT-M, and USDC-M Futures.
Proper Risk Management with Take Profit/Stop Loss
Here’s your take profit/stop loss button. Make sure you’re putting your stop loss in before you make your trade. You’d hate to make a trade and you say, “I’m going to set my stop loss later,” and then the site goes down, or you lose your internet, or you can’t get back on, or there’s a giant scam wick to one side or the other and you lose all your money.
Bitget has a really nice app. If you need a passport to the world of crypto, you get it right here. But I really do like Bitget. I think the user interface is really clean, is really neat. Ultimately, I think it’s the user experience and the user interface that really takes it to the next level and really separates it. Of course, never risk more than you can afford to lose in trading or anything else in life.