Bitget vs MEXC | Best Exchange For Beginners & Veterans?
Jack Moreau
Apr 2024
8 min read
Fact checked
Bitget vs MEXC: In this comprehensive comparison, we look into various aspects of both exchanges to provide you with valuable insights. From examining their KYC requirements and country availability to analyzing their product offerings, trading fees, and deposit methods, we leave no stone unturned!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Bitget and MEXC are two prominent cryptocurrency exchanges that have gained significant traction in the market. Both platforms offer a wide range of trading services and have amassed a large user base.
Bitget was founded in 2018 and quickly emerged as a major player in the cryptocurrency derivatives market. With over 20 million users across 100 countries, Bitget has become one of the largest crypto copy trading and derivatives exchanges in the world.
Bitget exchange
The platform is known for its user-friendly interface and advanced trading options, including spot trading for over 450 cryptocurrencies, derivatives, copy, and grid trading.
CoinMarketCap and CoinGecko, the most popular price-tracking websites for crypto assets, have ranked Bitget in the top five globally for derivatives trading by volume.
On the other hand, MEXC Global was also established in 2018 and is an exchange that has around 5 million users in more than 170 countries worldwide.
The exchange has obtained key licenses in four countries, including Canada, Australia, Estonia, and the United States.
MEXC Exchange
MEXC offers a comprehensive range of trading services and supports over 1,000 cryptocurrencies and 2,000 trading pairs, making it one of the largest exchanges in terms of available assets.
In terms of user experience, both Bitget and MEXC offer mobile apps for Android and iOS devices, allowing users to trade on the go. Bitget's app has been downloaded over 1 million times and has a rating of 3.2 stars based on 10,000 reviews.
Bitget app
On the other hand, MEXC's app has reached 1 million downloads with an average rating of 4.1 stars based on 25,000 reviews. Both exchanges prioritize user security and provide a seamless trading experience.
MEXC app
Bitget vs MEXC KYC Requirements
When it comes to the signup process and KYC requirements, Bitget and MEXC have their own unique approaches.
Starting with Bitget, signing up for an account is incredibly easy and straightforward. All you need to do is enter your email and password, and then add the verification code that is sent to your email.
Once you've completed these simple steps, you can already start trading on Bitget without any KYC requirements. While Bitget allows users to trade without KYC, there are certain limitations in place.
Bitget signup
Users without KYC verification have a daily withdrawal limit of 20K USDT and a monthly withdrawal limit of 100K USDT. However, if you want to participate in features like Earn, One Click Buys, and Fiat Deposits, KYC verification becomes mandatory.
The signup process on MEXC is as fast as it gets. You just need to enter your email, choose a password and then copy paste the email verification code that is sent to you. What's great about MEXC is that KYC is not mandatory for all users.
MEXC KYC requirements
This means you can start depositing cryptocurrencies and trading right away without going through the KYC process.
However, if you want to enjoy certain benefits such as buying crypto with fiat currencies or accessing higher withdrawal limits of up to 80 BTC, you will need to complete the primary level KYC.
This involves providing personal information. For even higher withdrawal limits of up to 200 BTC per day, you can opt for the advanced level KYC, which requires providing additional personal information and facial recognition.
Bitget vs MEXC Crypto Products
Bitget and MEXC are both cryptocurrency exchanges that offer a wide range of trading products and services.
Bitget provides trading services to cater to both beginners and pros suchas spot trading, futures trading, margin trading and copy trading,
Bitget spot trading
For users that wish to earn interest on their digital assets, Bitget also offers additional products such as staking, earn products and trading bots.
Bitget earn
They also offer futures leverage of up to 150X, allowing traders to amplify their trading positions.
Bitget Futures Trading
The user experience on Bitget is highly regarded with a user-friendly interface that is similar to other popular exchanges like Bybit, Kucoin, and OKX.
The website is easy to navigate, and Bitget manages to offer a variety of products and services without overwhelming the user.
Bitget Cryptocurrencies
The daily spot trading volume on Bitget often exceed $500 million indicating good liquidity and ample trading opportunities.
MEXC is a cryptocurrency exchange that, while offering a smaller range of products than larger exchanges like Bitget and Bybit, stands out for the depth of its offerings.
One of MEXC's major attractions is its spot trading trading which provides traders with access to a massive selection of over 1,700 cryptocurrencies.
MEXC Spot Trading
This collection includes popular large-cap coins such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), along with many altcoins that are not typically available on most other exchanges.
This makes MEXC an attractive platform for traders looking to explore and invest in less mainstream cryptocurrencies.
MEXC Crypto Markets
Moreover, MEXC continuously updates its offerings, adding new altcoins every week to keep the trading options fresh and diverse.
In addition to spot trading, MEXC also offers futures trading which includes perpetual trading for over 300 markets, with traders having the option to use USDT (USDT-M) or various cryptocurrencies (COIN-M) as the underlying collateral.
MEXC Perpetual Trading
One of the most notable features of MEXC's futures trading is the possibility of using up to 200X leverage. This level of leverage is significantly higher than what most other exchanges offer.
MEXC Futures Trading
For traders who are interested in learning from experienced traders, MEXC provides a copy trading feature. This tool allows users to replicate the strategies of successful traders on the platform.
MEXC Copy Trading
MEXC also includes a demo trading option where beginners can get accustomed to trading mechanics without risking real money.
MEXC's trading volumes are in the top 10 category across the market with over $1 billion in spot trading and over $3 billion in futures trading within a typical 24-hour period.
MEXC Futures Volumes
For users looking to earn interest on their digital assets, MEXC offers a savings section with various options. This includes both locked and flexible savings products, with different interest rates depending on the amount saved.
MEXC Earn Products
Adding to its suite of services, MEXC has introduced a launchpad for MX token holders which offers early access to new token launches. This feature is particularly advantageous for MX token holders, though currently, there are no new launches.
MEXC Launchpad
MEXC has been actively expanding its range of products and services but the platform's main strengths are its vast selection of altcoins and the high-leverage options available in futures trading.
Furthermore, MEXC provides the convenience of accessing these services without the need for complex KYC (Know Your Customer) procedures, making it a great choice for those that prefer privacy.
When it comes to trading fees, Bitget and MEXC are two popular exchanges that offer competitive rates to their users.
Bitget charges a spot maker fee of 0.10% and a spot taker fee of 0.10%. These fees are relatively low compared to other exchanges, making Bitget an attractive choice for traders looking to minimise their trading costs.
On the other hand, MEXC Global provides its users with a different fee structure. The spot trading fee for takers is normally 0.2%, but MEXC has temporarily reduced it to 0%, making it more cost-effective for traders.
When it comes to futures trading, MEXC goes above and beyond by offering 0% fee for makers and a low 0.02% fee for takers.
Bitget offers support for 40 fiat currencies for buying crypto with credit/debit card. However, the exchange does not support fiat deposits.
Bitget Buy Crypto With Visa
This means that users can only deposit cryptocurrencies or buy crypto using their fiat currencies through third-party providers like Banxa and MoonPay.
On the other hand, MEXC does not allow for the deposit of fiat currencies on its platform. Users can only deposit cryptocurrencies or buy crypto using their fiat currencies through card payments or third-party providers.
Starting with Bitget, it's important to note that this exchange does not support fiat withdrawals. Users can only withdraw cryptocurrencies from their Bitget accounts. The withdrawal fees vary depending on the cryptocurrency being withdrawn.
For Bitcoin (BTC), the withdrawal fee is 0.0005 BTC. For Ethereum (ETH), the fee is 0.0006 ETH. For Solana (SOL), the fee is 0.0074 SOL. Additionally, users who wish to withdraw ERC-20 USDT will be charged a fee of 3 USDT.
The withdrawal fees on MEXC vary depending on the cryptocurrency being withdrawn. For Bitcoin (BTC), the fee is 0.0003 BTC. For Ethereum (ETH), the fee is 0.0001 ETH. For Solana (SOL), the fee is 0.01 SOL. If users wish to withdraw ERC-20 USDT, MEXC charges a fee of $4 USDT.
After analyzing the key numbers and facts of Bitget and MEXC, it is clear that both exchanges have their advantages in different areas.
In terms of user base, Bitget has over 8 million users across 100 countries, making it one of the largest crypto copy trading and derivatives exchanges globally.
MEXC has around 5 million users in more than 170 countries and has obtained key licenses in four countries, demonstrating its commitment to regulatory compliance.
Both exchanges offer mobile apps for trading on the go and when it comes to the number of cryptocurrencies available for trading, MEXC takes the lead with over 1,000 cryptocurrencies compared to Bitget's 450.
In terms of trading products and services, both Bitget and MEXC aims to make traders very happy by offering spot, perps, futures and copy trading while MEXC also provides leveraged ETFs and quantitative trading.
Both exchanges prioritize user experience with user-friendly interfaces and offer good liquidity with daily spot trading volumes exceeding $1 billion.
When it comes to trading fees, Bitget charges relatively low fees compared to other exchanges, with a spot maker fee and taker fee of 0.10%, and futures trading fees of 0.02% for makers and 0.06% for takers.
MEXC, on the other hand, offers discounts for MX token holders and reduce its spot trading fee for takers to 0.1%. Its futures trading fees are even more attractive, with 0% fee for makers and a low 0.02% fee for takers.
So which exchange do we like most, Bitget or MEXC? Well, the truth is we like and use both exchanges equally!
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
