Bitget: The Fastest Growing CEX Ecosystem with a Focus on User Base and Innovation

In 2025, Bitget secured the second position in terms of liquidity depth on spot markets. According to exchange representatives, this achievement showcases the rapid growth of the company, which has become the fastest-growing platform among the top 10 exchanges.

As per the 2024 transparency report, Bitget ranked second among centralized exchanges (CEXs) for user numbers. In this article, we will explore the competitive advantages and key products of Bitget alongside its team.

The exchange was established in 2018 by Sandra Liu. In May 2024, Gracy Chen, known for her initiatives promoting diversity and inclusion in the Web3 industry, took over as CEO of the trading platform. In 2024, she spoke at the United Nations Commission on the Status of Women, launched the Blockchain4Her ambassador program and the educational project Blockchain4Youth in collaboration with Lionel Messi.

In addition to Chen, key figures in the company include:

“Our exploration of Bitcoin’s white paper and the Ethereum ecosystem in 2018 revealed the potential of cryptocurrencies for the future. The market crash filtered out speculators—less than 10% of participants remained and adapted. That same year, we launched our company. Emerging in a bearish market, Bitget focused on users, innovation, and long-term growth,” states the company’s website.

Bitget is registered in the Seychelles and operates as a Virtual Asset Service Provider (VASP) in Poland, Lithuania, Bulgaria, and as a Bitcoin service provider in El Salvador.

The ecosystem of Bitget encompasses:

Previously, the wallet used a separate asset called Bitget Wallet Token (BWB), but at the end of 2024, developers announced its merger with BGB.

Below, we will delve into each product within the ecosystem in more detail.

To access deposits, the P2P platform, as well as spot and futures markets, a mandatory KYC process must be completed. Registration is available on the website and in the mobile app (for Android and iOS). Clients need to provide a passport or driver’s license and verify its authenticity. The entire process takes no longer than an hour.

After verification, the exchange will recommend enhancing account security. Users can set up one or more two-factor authentication methods (Passkey, Google Authenticator, email, phone number). Additional security measures include a withdrawal whitelist and an anti-phishing code.

Once the account is set up, users can fund their balances. Bitget offers multiple funding methods:

Users can then begin trading on spot and futures markets, or access Bitget Earn products or copy trading services. The exchange provides:

On the Earn platform, users can generate additional income from their investments. The product offerings include:

Moreover, the exchange features structured products: bi-currency investments, Shark Fin, and Smart Trend with lock-up periods ranging from one to seven days and APR up to 20% annually.

In 2020, Bitget became the first platform to introduce copy trading—where users (copy traders) replicate the trades of top traders (lead traders). Since then, the exchange has maintained its position as a leading platform in this segment. Users can subscribe to lead traders for spot and futures markets or copy a trading bot’s strategy.

Bitget consistently offers new clients bonuses and rewards for engaging in various activities. For instance, at the time of writing, newcomers can receive up to 777% APR on USDT for their first deposit and an airdrop of up to 20 USDT for their first trade. This promotion is valid until March 24, 2025.

The Bitget Wallet (previously BitKeep) is a non-custodial Web3 wallet that supports over 100 blockchains and Layer 2 solutions. The app is available for iOS and Android, as well as a Chrome extension.

Wallet users can exchange assets through the integrated Bitget Swap DEX aggregator, operating on the BitKeep Swap order-splitting protocol across EVM networks.

“BitKeep Swap combines 1inch, dodo, uniswap, 0x, and other order-splitting protocols, giving users access to the liquidity of hundreds of DEXs while providing the best swap prices and saving on fees,” states the Github of the project.

Wallet users can place market and limit orders, as well as trade meme tokens on the MemeX platform and futures with leverage up to 125x.

To enhance fund security, the Bitget Wallet team has established a Protection Fund—a $300 million insurance fund designed to compensate users for potential losses due to wallet operation errors.

The exchange token BGB was launched on the Ethereum network in July 2021, with a total issuance of 2 billion tokens.

In December 2024, the platform introduced an updated white paper, announcing a burn of 40% of the supply (800 million BGB) and the initiation of a quarterly buyback mechanism. This initiative will allocate 20% of the exchange’s revenue (from spot, futures, and margin trading) and wallet operations (swaps, futures, and NFT trading).

“On July 26, 2021, BGB launched at an initial price of 0.0585 USDT. After just over three years, its value surpassed 7.9 USDT, showing a growth of over 100 times. This achievement allowed BGB to enter the top 30 cryptocurrencies by market capitalization,” the white paper states.

With the merger of BGB and Bitget Wallet Token (BWB), the exchange announced the integration of centralized and decentralized services into a unified ecosystem. BGB holders will benefit from a range of advantages:

Since its inception in 2018, Bitget has become one of the most recognized companies in the crypto industry. This is attributed to successful partnerships with Lionel Messi and the football clubs Juventus and Galatasaray, which not only strengthened trust in the exchange but also attracted a wider audience to the crypto space.

Furthermore, Bitget actively promotes educational initiatives such as the Bitget Graduate Program and the Bitget Builders Program, which introduce young people to Web3.

The exchange has also focused on popularizing copy trading, becoming one of the first platforms to emphasize the social aspects of cryptocurrency trading.