Although the crypto space has been through turbulent times in the past year, bitget he managed to grow and make great strides in building his brand, team and business during this crypto winter. The platform expanded its services to the global Web3 market for the first time in 2022 and pushed their business development speed beyond limits, making them one of the fastest growing exchanges with the best business momentum.
Taking a look at the summary, some of the major developments of the platform included increasing its workforce from a mere 200 people to over 1,100 employees, expanding its business operating sites from 2 meager locations to 12 operating establishments worldwide, and also becoming in the exclusive crypto exchange partner with Lionel Messi.
growing in numbers
Initially, the Bitget platform focused only on serving its clients from a select group of Asian countries. By the end of 2022, they have acquired more than 8 million users in more than 100 countries with a presence in Turkey, Southeast Asia, Europe and Latin America.
The platform also saw a 300% increase in total transaction volume with over 4.2 million profitable transactions. Taking a look at the platform's on-chain data, more than 1,000,000 merchants shared a profit of $9.7 million from their trading copy products.
According to the latest data shared by the TokenInsight report, Bitget's market share rose dramatically from 3% to 11% after the collapse of the former second-largest exchange, FTX, which marked the largest single market share growth in the crypto derivatives sector. By the end of 2022, total daily open interest for the top 10 exchanges had fallen 27.1% since January and 41% since its peak in April of the same year. Bitget achieved a significant increase in open interest, from $841 million to $3.74 billion, representing a total increase of 344%.
Perfect copy trading
Over the course of the last 4 years, the platform has spent time and effort refining its copy trading infrastructure and products in order to provide its users with the ultimate social trading experience.
One-Click Copy Trade is their flagship social trading product that allows clients to automatically execute trades, mimicking orders and strategies from experienced traders of their choosing. This also simplified the crypto trading process to one click, removing the scope for making mistakes on price fluctuations and providing a good starting point for users to get into the game.
2022 also saw the launch of Bitget Insights and Strategy Plaza, giving clients the opportunity to find ways to maximize their returns. These features aim to help people choose the most lucrative trading methods to subscribe to.
Guarantee the protection and safety of users.
Bitget has achieved almost zero accidents despite different market conditions in the last 4 years. This has been the result of continuous monitoring and advancement in its IT and security system.
The platform has also launched a Protection Fund of 300 million that will not be used in the next 3 years unless there is an emergency. They also have a Merkle Tree Proof of Reserves tracking page that updates their snapshot on a monthly basis, ensuring a 1:1 reserve ratio of client funds. Merkevalidator is their open source tool available on GitHub that reveals your on-chain data on third-party platforms like Nansen, CoinGecko, and more.
Prioritize retail users and work with KOL
Bitget strives to put its retail users first, this shows in its approach to designing product attributes, interest protection mechanisms, and product thresholds. Retail users get better services and more favorable rates, as the platform believes that retail investors are an essential driver in the development of the crypto space, as opposed to the traditional financial space.
Accumulating highly motivated KOLs and affiliates has also been a priority for the platform. Currently, they have a network of over 100,000 close KOL partners around the world. In partnership with these KOLs and KOCs (Key Opinion Consumers), they spread the most professional trading strategies and high-quality content.
Social commerce is another crucial part of this system, Bitget has worked to form a distinct development path that fits its characteristics and remains focused on its constant effort for the past 4 years.
MD perspectives
Bitget CEO Gracy Chen commented on her vision for the crypto industry in 2023, stating that as macro liquidity continues to affect the crypto market, the rise in interest rates is expected to gradually ease in 2023. Though it is not clear when As interest rate cuts occur, the Fed's impact on macro liquidity would also continue to affect investor expectations for the crypto market.
Furthermore, he added, the number of locked positions in DeFi is expected to slowly increase in 2023. Regardless of the decline in the value of popular blockchain tokens, the number of active users, and new wallet addresses on chains like Polygon , Ethereum and BSC has been on the rise.
As more DeFi blue chips slowly transform into the infrastructure of the ecosystem, DeFi lock volume and TVL are also expected to increase in 2023.
Chen also advised his fellow builders to create a product with distinctive qualities and become leaders in the field, while also focusing on the safety and security of blockchain businesses. This should be done by ensuring that user funds are always available to them and can be withdrawn upon request. He also added that business decisions should always be made from the perspective of the consumer.
For more information about Bitget, see your official Web site.
Disclaimer: This is a paid post and should not be treated as news/advice.
