Bitget Insights On How To Achieve Growth Through The Crypto Winter

Now that 2022 is over, many cryptocurrency users hope that the FTX crisis will remain just a bitter reminder of last year. While the impact of his CEX crash, one of the largest in the cryptocurrency industry, still ripples through the space, one platform is taking bold steps to ensure the security of its customers’ funds.

Gracy Chen, Managing Director of Bitget, shares her insights and tips for navigating the crypto bear market.

Q: How does Bitget ensure the security of customer assets?

Bitget always strives to provide users with a secure one-stop trading solution. We take different initiatives and adopt different security policies to protect our users’ assets.

Bitget’s protection fund was initially valued at around $200 million, but was raised to $300 million after FTX’s bankruptcy, comprising 6,500 Bitcoin (BTC) and 200 million USDT. Bitget has committed to securing the value of the fund for the next three years regardless of market price.

Bitget has released a Merkle tree of proof of stockpile to provide maximum transparency. On his POR page of our company, we can see that as of December 31, 2022, individual reserves of BTC are 725%, USDT is 202%, ETH is 186%, and the total reserve ratio is 244%. is showing. Best booking rate.

Beyond these two key measures, we also serve our users using the best security measures and risk management already implemented, such as separation of hot and cold wallets, multi-signature wallets, and Zero Trust security architecture. and protect. User Assets.

Q: What are the main user concerns regarding cryptocurrency security today?

After the FTX incident, the market is actively seeking transparent and trustworthy platforms where assets can be safely stored. Therefore, we publish all seven wallet addresses of his $300 million protection fund so that users can monitor the fund at any time. Separately, we have also developed an open-source “Merklevalidator” Proof of Reserve validation tool. It is available on GitHub. Users can then check if their account assets are included in the Markle Her Tree Proof of Readiness to ensure their funds are safely stored on the platform.

On the other hand, in January 2023, we also launched a fund custody service for users with a total assets of 100,000 USDT or more to apply for a dedicated custody wallet. A separate wallet address allows eligible users to check and withdraw funds separately from the main reserve, avoiding funds from being affected in emergencies such as loss, theft or other cybersecurity threats can.

Q: What is the biggest goal Bitget has successfully achieved in 2022?

Last year was the most important year in Bitget’s history. Our achievements this year are nothing short of amazing. Despite some negative developments in the industry, Bitget continues to grow steadily and has taken this opportunity to further strengthen its capabilities.

Bitget’s main areas of development include:

• According to Boston Consulting Group report, it ranks among the top 3 exchanges by trading volume of cryptocurrency derivatives.
• After the FTX demise, the market share of the derivatives market increased from 3% to 11%.
• Copy trading products skyrocketed in popularity, increasing total trading volume by more than 300%.
• The number of employees increased from just 200 at the beginning of 2022 to over 1,100 in January 2023.
• Became an exclusive crypto exchange partner with Lionel Messi.

Bitget saw a 300% increase in total trading volume thanks to the growing popularity of copy trading and crypto futures products. The platform’s flagship product, One Click Copy Trade, by December 2022 he has over 80,000 traders and his 338,000 followers.

Q: Collaborating with Messi is not your first football partnership. What do you think celebrity campaigns bring to users? Is it a matter of trust and credibility?

Trust and trust are the core foundations of the development of the crypto industry. That is why Bitget launched a $20 million marketing campaign during his 2022 Qatar World Cup to build and rebuild trust in the community. We are delighted to have witnessed the victory of our partner Lionel Messi.

I would like to emphasize that Messi is not only a great footballer, but also a player who has focused on his skills to overcome physical difficulties over the years and has had very few negative incidents. is not only patient, but also humble and dedicated. Bitget chose him as a partner because his pragmatic and trustworthy image matches our company profile of zero accidents and dedication to developing the best trading products.

Working with Messi has reminded us all that winning and building a lasting business takes passion, perseverance and teamwork. The tremendous growth we have achieved is a testament to all the hard work and immense effort our team has dedicated to the company.