Crypto exchange Bitget further expands user protection

The article below is a submission and falls outside the responsibility of Crypto Insider. This is not financial advice and our analysts are not financial advisors. Investment involves risks. Always consult an advisor when making financial decisions. The information and tips on this website are for educational purposes only.


Since the crypto world is constantly flooded with incidents like ftx and Bitvavo news, users continue to lose trust in centralized crypto exchanges due to their lack of transparency about how users’ cryptocurrencies are stored. Bitget’s leading crypto exchange has been constantly working to increase user confidence by introducing many new security initiatives.


Bitget protection fund

Bitget recently launched a protection fund aimed at protecting users’ crypto assets. It was initially set up with a $200 million fund consisting of about 6,000 BTC and 80 million USDT, but was eventually increased to 300 million USD. The fund consists of popular high-liquidity cryptocurrencies such as BTC, USDT, USDC and is fully self-funded, providing greater flexibility to effectively cover users’ assets without external measures.

Børsen has undertaken to secure the fund’s value for the next three years without a withdrawal. If the fund’s value decreases due to the price of BTC falling, Bitget will continue to cover the position to ensure that the balance does not fall below $300 million at any time. To ensure transparency, all information about the fund is public and users can access the wallet addresses here see.

Proof of reserves

Bitget also launched one Proof of reservations page which shows users that we are a so-called ‘full-reserve exchange’ using the cryptographically controlled Merkle tree method. And that all user assets stored on the platform will always be protected

Fund custody

Bitget is also launching one fund custody service for professional investors and institutions. The service provides special wallets for eligible accounts to ensure the protection of customers’ money on the platform. The exchange also recently released the latest snapshot of the ‘Merkle tree Proof of Reserves’ to assure users that their assets are 1-to-1 held by Bitget

Keeping the acrypto assets in a separate wallet prevents users’ funds from being compromised in the event of an emergency such as a stock market crash or other threats. The wallet’s assets are rounded up daily to ensure that the user still meets the necessary conditions.

Bitget CEO Gracy Chen has this to say about the security measures Bitget takes to protect users’ funds in any situation:

“Protecting our customers’ assets is and always will be our top priority at Bitget. Since the collapse of some industry adversaries, we have launched a number of initiatives for increased protection. In addition to the security provided by our $300 million USD Bitget Protection Fund and Merkle tree Proof of Reserves, we are proud to announce our Fund Custody service. Equipped with industry-grade security systems and dedicated wallet addresses for qualified users, the new service will further promote transparency and security for our users and their funds.”

About Bitget

Founded way back in 2018, Bitget is one of the largest exchanges in the world with innovative products and social trading services as its main features. In addition, Bitget currently serves more than 8 million users in more than 100 countries around the world.

The stock market moves a stop and secure trading solutions for users and aims to increase cryptocurrency adoption through collaborations with creditable partners including Argentina’s legendary soccer player Lionel Messi, the leading Italian soccer team Juventus, the official esports crypto partner of the PGL Major, and the leading esports organization Team Spirit.


The above article is a submission and falls outside the responsibility of Crypto Insider. This is not financial advice and our analysts are not financial advisors. Investment involves risks. Always consult an advisor when making financial decisions. The information and tips on this website are for educational purposes only.

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