Bitget Expanding Its Footprint In Korea
Established in 2018, Bitget’s mission since the very beginning has been ‘Better Trading, Better Life’. Cryptocurrencies have the power to change the world for the better, and we are here to make sure that everyone gets the chance to hop on board.
With US$8.1 billion in average daily trading volume and more than 2 million in cumulative registrations, Bitget is now leading the centralised exchange sector. But that’s not all. In the first half of 2022 only, Bitget has launched:
Bitget Launchpad, where users can get early bird access to new projects and tokens in several ways,
Bitget Academy, to boost the collective knowledge of crypto,
Bitget Spot and Futures Grid Trading feature, to help users sail through sideway markets,
GroupCoin feature, where users and friends can enjoy a discount of up to 50% of the token price,
… and more features will be announced in the following weeks.
In the second KCGI Tournament, which took place in May 2022, the South Korean Division proved themselves to be the most skillful trading professionals with the exceptional ability to support their peers, thus securing the highest prize for team battles. Moreover, South Korean traders are one of the key members of Bitget Social Trading - the innovative concept of preserving a win-win environment for all parties involved - and we are striving to promote a close-knit, exclusive community for Korean traders’ benefits.
Bitget And Other Crypto Exchanges
Every exchange has its own strengths; Bitget is proud to say that we are a trusted leader in terms of asset services, security and compliance. In addition to the wide variety of products and services, we have made every effort to provide top-notch customer protection by getting operational licences in the top regulated jurisdictions - the U.S., Canada and Australia, and at the same time maintaining regular contact with authorities worldwide for constant compliance updates. You can always count on us for a seamless, uninterrupted operation!
Here is a general comparison of Bitget and other crypto exchanges. Bitget is the only one to have a special VIP program for Korean residents, with requirements starting at 500 USDT in equity only.
Wealth Management with Bitget
Bitget collects the same fees of 0.02% for regular Makers and 0.06% for regular Takers. Our Korean VIP User Program is designed solely for the Korean market with these following benefits:
200 USDT in trial fund (can be used for fee payments);
Collecting points (calculated based on equity value and monthly trading volume) to earn free BGB and valuable gifts;
VIP 1:1 customer service by local experts, available 24/7;
Exclusive VIP information and events.
There are several ways to take advantage of this special VIP program. Korean users can freely use their trial funds to pay for futures transaction fees, and use BGB to enjoy a direct 20% discount in spot fees or earn staking yields like a DeFi participant. Korean users are, therefore, in an extremely advantageous position in wealth management: Bitget offers one of the most reasonable options for trading, fee and knowledge-wise.
Let’s take a look at this example: Adam places a ₩65,000,000 (approximately US$50,000) Bitcoin long order on Bitget as a market maker, using USDT as margin collaterals. His trading plan can be summarised as follows:
Minimum Initial Margin = ₩65,000,000 / 125 = ₩520,000
Trading Fees (for market maker) = ₩65,000,000 * 0.02% = ₩1,300,000
USDT Trial Fund = 200 USDT ₩260,150
Actual Fee Payment = ₩1,300,000 - ₩260,150 = ₩1,039,850
Final Deposit = ₩520000 + ₩1,039,850 = ₩1,559,850 (US$1,200)
Following the same approach, Adam will have the following final deposit for other exchanges:
Final Deposit For MEXC = ₩520,000 + ₩1,300,000 = ₩1,820,000 (US$1,400)
Final Deposit For Kucoin = ₩650,000 + ₩1,300,000 = ₩1,950,000 (US$1,500)
Final Deposit For Bybit = ₩650,000 + ₩650,000 = ₩1,300,000 (US$1,000)
Final Deposit For Binance = ₩520,000 + ₩1,300,000 = ₩1,820,000 (US$1,400)
Important here is that futures markets are extremely liquid on Bitget. Our July data shows Bitget Daily Open Interest has reached US$4.25 billion and Bitget Aggregated 24-Hours Volume US$406 billion on July 21, meaning that any user can easily choose to be a Market Maker for lower fees on Bitget. In less liquid markets, it’s difficult for traders to buy at their pre-set price. In other words, they usually have to take the market price and pay the Taker fee, which is obviously higher than our 0.02%. What is supposed to be a good deal may turn out more expensive in the end.
Besides, Adam can register to be an expert on Bitget One-Click Copy Trade and generate a passive income of up to 8% of his followers’ profits, thereby being able to completely rule out his transaction fees.
Brand New Programs for Retail and Institutional Players
Bitget is releasing new programs for all trader groups, which our Korean users can fully utilise to develop an economic trading strategy. The first one is GroupCoin, a unique feature for Spot Trading. Users can team up to buy tokens in mass for extremely good prices, for example a group of more than 2,000 can buy BTC at half the price. And don’t forget to use BGB as payment currencies - you can save a further 20% in transaction fees. As a regular trader, there is US$4,163 in welcome rewards for grab!
For full-time traders, we invite you to join Bitget Elite Club to get rid of maker fees in the first months and waive fees for other types of transactions. Please contact us here to get personalised solutions for your trading!
Bitget Will Never Cease To Impress
Bitget is constantly evolving with the finesse of products and services. That is how we secure 2 million users from more than 50 countries worldwide in less than two years. In South Korea, we currently have around 9,000 Bitget diehard fans, who can be approached via these following channels: BGB Derivatives Fan Club BGB Enthusiasts Group.
We have and will continue to define Social Trading via the developments in our on-chain units, One-Click Copy Trade, and the off-chain team, Bitget Global Communities, which offers live support around the clock in 20 languages, Korean included.
Our dedications have brought us to the global Top 5 Derivatives Exchanges and at the same time yielded a 300% growth in derivatives trading volume this year. What we are aiming for is to strengthen the local community in South Korea while connecting the local users with trading experts worldwide via Social Trading and in-depth AMAs and Sharing Sessions with Top Traders.
Count on us because we are here to accompany your investment journey! Bitget New User Registration