Bitget Mutual AMA with TIME
Hello everyone! I'm Marco, Today’s AMA co-host. I am the Senior Community Operation Manager.
To better encourage and guide you guys to participate in the Link Campaign, here we are holding an AMA in the Pitbull English Telegram Community.
Q: Hello Marco! Would you like to introduce yourself to us first?
A: Hello everyone! I'm Marco, the co-host of today’s AMA. I am the Senior Community Operation Manager at Bitget, supervising the Discord community.
Q1 JJ: When did you guys start Bitget Exchange?
A1 Marco: We established back in July 2018, , and currently we’re one of the world’s leading cryptocurrency exchanges with a core focus on social trading. We Currently serve over eight million users in more than 100 countries around the world, with the support of 1000-strong workforce we aim to promote decentralized finance around the globe. Besides our flagship product - Bitget’s One-click Copy trade, we also offer multiple innovation products, futures, quantitative trading strategy, spot, OTC, launchpad, etc.
We’ve been constantly working on innovative solutions for the digital asset space since 2018 and currently ranks in the top 5 best crypto exchanges in the world. We have claimed the leading position in the crypto derivatives market within less than three years and set an all-time high of US$8.1 billion for daily derivatives volume at the beginning of 2022.
First half of 2022 has been a time of explosive growth for Bitget. Despite obvliously for the unwelcoming market conditions, we release a host of new products and services, expanded our team, and partner with several world's top athletes. from Italy’s most successful football team Juventus, to esports organization Team Spirit, to Turkish football club Galatasaray, and last but not least to the recent World cup winner Lionel Andres Messi - This initiative allow non-crypto users to learn more about cryptocurrency and especially more about Bitget, as well as pave the way for more acceptance and collaboration between the blockchain and traditional worlds.
Some quick numbers about Bitget:
- More than 8+ million registered users from 100+ countries
- TOP 5 global crypto derivatives by volume and TOP 1 in copy trading by volume among all crypto exchanges
- 10+ billions of USD in average daily trading volume
Q2 TIME: Tell us about your copy trading feature.
A2 Marco: Bitget was the first exchange to launch One-Click Copy Trade. And Currently, We are the world’s largest crypto copy trading platform.
Other exchanges also have copy trading, but what makes Bitget’s copy trading stand out are
High user activity (on a user-friendly UI), Millions of traffic exposure (for star copy traders), Copy traders that can get up to 10% (in commission profits from their followers), and Filters to select (there are currently over 55,000 best traders for your copy trading needs).
Bitget Copy Trade expert traders and followers have generated more than US$650 million from US$3.38 billion invested - this is a whopping 20% profit for everyone who participated.
One notable thing here is, Bitget’s Copy Trade markets are highly liquid, therefore traders have never had any problems trading as Makers
(*Makers may be forced to pay the Taker fees - normally extremely high in less liquid markets).
Also One-Click Copy Trade which is our flagship product. Copy trading refers to the trading that investors follow other investors (commonly known as professional traders/ experts) to have the same positions in the futures market as the experts they are copying.
Bitget One-Click Copy Trade was introduced in 2020, persistently boosting the crypto fever for the last two years. Designed to meet the needs of both professional traders and crypto enthusiasts, Bitget Copy Trade provides a transparent and reliable trading environment, where ‘others win when you win’. To date, Bitget’s One-Click Copy Trade has amassed over 55,000 professional traders, with 1.1 million followers and a total of US$3.38 billion invested in the platform.
Q3 Zebec: It is found that some traders will keep holding losing positions (even after losing a lot of money), may I ask, what measures does Bitget take in this regard, or how can I avoid the follower's position from suffering heavy losses?
A3 Marco: We understand the risks that come with market volatility. Please remember that, upon placing a leveraged order, you'll need to make a deposit to your (margin) account balance. It is called initial margin.
As the price of the underlying asset fluctuates, your account balance is subject to changes. When losses reach a certain level, your account balance will fall below the minimum equity requirement, also known as maintenance margin. In that case, you'll have to deposit more equity into the margin account or you'll be forced into liquidations. Forced liquidations mean reducing your exposure to the assets and avoiding losing more than you can afford.
Moreover, you'll always receive a notification from Bitget whenever your margin account balance falls below the risk margin.
Maintenance margin level will be lower than risk margin’s, and risk margin level is lower than initial margin's. Bitget is one of the only crypto derivatives exchanges that utilize this sophisticated mechanism to help traders resist the risk of liquidation better.
One more useful feature of Bitget margin trading is you can switch your margin mode conveniently between Cross Margin and Isolated Margin. We recommend using the Isolated Margin mode for extremely volatile assets, as the maximum loss possible is restricted to the Isolated Margin balance only.
Otherwise, you can also adjust your exposure by changing your leverage level or reducing your positions manually. OR, choose to cancel following a trader.
Q4 TIME: Tell me how safe and secure Bitget is
A4 Marco: Bitget receives an A+ ranking for 12 SSL indicators, together with genuine appreciation from the crypto community, which is shown by 4.9 star ratings in both Google Play and App Store.
Bitget’s mission is to provide top-notch customer protection and a seamless user experience by getting operational license from three different authorities - such as the U.S., Canada and Australia while adhering to local regulations to conduct uninterrupted operations across the globe. We’re always One step ahead of the game, and Bitget has announced back on August 1, 2022 a US$200 million Bitget Investor Protection Fund,
which directly mitigates investors’ concerns of unforeseen volatility.
After the recent fiasco involving FTX, we directly increased this Investor Protection Fund to $300 million, which can be monitored on the chain, and we accept the supervision of investors at any time,
this directly reduces the investors ' worry about unforeseen volatility as said before.
Speaking of the recent issues faced by FTX. When it broke out, Bitget was one of Five Exchanges that vowed to publish Merkle Tree Audit Certificates immediately. Since the recent fiasco surrounding FTX has brought significant impact to the entire blockchain world and related platforms, as a builder in the crypto community,
Bitget has been receiving a big wave of requests for help in the past few days, and we also presented a five million USD 'Builders Fund' to help the partners and traders affected by the FTX events, and more actions will be taken by us to rebuild trust in this industry again.
At Bitget we’re all about rebuilding, bigger and better. Our core values of integrity and transparency matter more in times like this than ever before.
We’ve also launched a new NFT collection, Seed. During our first phase, we’ve issued a total of 10,000 Seeds ranging from different rarity ranks from Common to Legendary. Each rank unlocks different perks and access to exclusive rewards worth $2 million.
Q5 TIME: Ask about recent community updates?
A5 Marco: We are excited to announce the launch of our new Discord server update ,
In Which During our first phase, we are issuing a total of 4K+ USDT on prizepool for our community members that reach a certain level on the server.
Prize will be awarded at the conclusion of the event, and the first phase will last for a month,
This is a test run in order for us to gather data in preparation for a bigger one later on.
We implemented various task and quests to further increase engagement of our users within the server and reorganized our channels + categories so our users can express more freely among themselves,
with the addition of our newly implemented reputation system, user will have access to additional bonus points, which will help them gather enough experience for a chance to be at the top of the ranking system.
We also release various smaller events through the weeks for users to gain more XP and trial funds, in a fun and interesting way,
So please come check out #server-update channel to read more about our ongoing campaign and please do join our #ama channel for a chance to share $50 ZBC
for our AMA Quiz Airdrop!
Link will be shared shortly after at the end of this AMA
Segment 5: Educational sharing for Bitget newbies (Host)
Thank you so much for your introduction today Marco! Here I also want to make an educational sharing for Bitget newbies.
📖 Basic Video Guide for Beginners & Support Articles:
We have also prepared a special airdrop for Bitget Newbies:
AMA - Newbies Airdrop
🔥 First 100 Newbies who register via Bitget External AMA with Zebec Specific Sign-Up Link & make first time trade in any token at least $30 during the event period, will share $300 TIME!
More ongoing Bitget events, please refer to: https://linktr.ee/bitget_en
Thank you guys for being here. Have a nice day!
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