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Bitget Transparency Report 2023

Bitget Transparency Report 2023

2022 kept us on the edge, and 2023 continued with its unpredictable pace. Amidst market fluctuations, Bitget achieved significant breakthroughs, including substantial user and volume growth, business expansion, and an expanded compliance footprint.

In the Bitget Transparency Report 2023, we will revisit our remarkable journey throughout the year.


● Despite market challenges, Bitget's overall volume reached $3.14 trillion as spot trading volume surged by 94%

● Bitget Token (BGB) saw exceptional growth of 291%, reaching an all-time high of 0.70499

● Copy trading platform gained over 52,000 new traders and facilitated 26.9 million profitable trades

● Made strategic investments, including a $30 million investment in BitKeep, and established the EmpowerX Fund and Web3 Fund with $100 million capital each

● Rebranded with "Trade smarter" as the new brand motto, and celebrated 5th anniversary with 2,000 crypto leaders in Singapore

● Maintained an average reserve ratio of 200% and over $300 million in protection fund

● Launched the Blockchain4Youth project with a $10 million investment

● Registered as a Virtual Asset Service Provider (VASP) in Poland and Lithuania

● BUIDL products to help users trade smarter by enhancing copy trading, launching AI-powered strategies, and sharing diversified market data and information

Bitget In Numbers

Trading Volume

In 2023, the industry experienced a challenging market environment. Despite the backdrop of market turbulence, we are proud to highlight our outstanding achievements, particularly in spot trading. Our total trading volume for the year reached approximately US$ 3.14 trillion, with spot trading volume surging to US$ 81.6 billion, marking an impressive 94% increase despite the market downturn.

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To meet the operational demands driven by our user growth, which surged from 8 million to 20 million combined with Bitget Wallet, our staff numbers have expanded from 1100 to 1500. In 2023, Bitget's average monthly visits reached 10.4 million, peaking at 13.6 million in May.

New Listings

Bitget re-launched its spot trading business in 2021 and has been steadfastly doubling its efforts ever since. In 2023, our approach has become more proactive, with a focus on uncovering early-stage potential projects. Thanks to a series of initiatives, our spot market has seen significant development. Bitget has emerged as a leader in asset diversity, offering an impressive selection of over 600 tokens and 700 spot trading pairs.

This year, we've added 355 new listings, marking a 46% year-on-year increase, including 5 projects on Bitget Launchpad and 45 projects on Bitget Launchpool. Additionally, we've introduced different listing zones and categorized the listed tokens based on themes such as BTC Ecosystem, AI, and Layer2.

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Bitget Token (BGB)

BGB, the native token of Bitget, stood out as one of the top-performing exchange tokens last year, repeatedly shattering its price records. It surged from 0.18 at the beginning of 2023 to an all-time high of 0.70499 in December, marking an exceptional 291% increase. Furthermore, it secured a position among the top 5 tokens by market capitalization within its category.

This growth is driven by the rising demand for BGB, fueled by the continuous enhancement of Bitget's trading services and its ecosystem, which brings added advantages to BGB holders. In 2023, we introduced several new features, such as staking BGB for zero withdrawal fees and holding BGB to participate in new coin airdrops. By the end of 2023, the number of BGB holders had surged by 83% compared to 2022, reaching nearly 217,000. During the same period, the trading volume of BGB increased by 110%, reaching 5.15 billion USD.

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Data from Coingecko

Copy Trading

Bitget stands as the pioneering and largest copy trading platform in the crypto realm. Our achievements in 2023 are a testament to our success: we welcomed 52,167 new traders and gained 295,975 new followers throughout the year. In 2023 alone, there were 26.9 million profitable trades, amassing a total profit of 138 million USD, with 6.4 million USD shared among our traders. To date, the cumulative profit generated through copy trading has exceeded 450 million USD, with elite traders receiving 23 million USD from this pool.

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Customer Service

We have substantially improved our customer service, demonstrating our unwavering commitment to better service and a user-centric approach.

In 2023, we interacted with and assisted 600,000 users through our online customer service. Our average response time falls within three minutes, showcasing our dedication to prompt assistance. Additionally, we have managed to address customer demands within an average time of 9.15 hours. Notably, our support team has also facilitated the recovery of missing assets totaling over 495,000 USDT.

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Key Milestones

Investment in The Industry

The bear market presents an opportunity to buy the dip, and in line with this philosophy, we are ramping up our investment efforts during the crypto winter. In our pursuit to bridge the gap between DeFi and CeFi, Bitget has made a strategic investment of $30 million in the prominent decentralized multi-chain wallet, formerly known as BitKeep and now rebranded as Bitget Wallet, becoming its controlling stakeholder. Additionally, to support promising projects within the Layer 2 sector, Bitget made a multimillion-dollar investment in the consumer-centric blockchain Morph in December.

We have established two funds to support BUIDLers in various fields. The Bitget Web3 Fund, launched in April, has pledged $100 million to support Web3-friendly ventures and projects. To date, it has formed strategic partnerships with notable entities such as Foresight Ventures, Dragonfly Capital, SevenX Ventures, Gitcoin Fund, DAO Maker, and ABCDE Capital. In September 2023, we introduced the Bitget EmpowerX Fund during our fifth anniversary celebration. This fund is designed to make strategic investments in regional exchanges, data analytics firms, media companies, and entities that contribute to the growth of Bitget's ecosystem.

Rebranding to Trade Smarter

As the crypto industry continues its journey into the mainstream, we anticipate an influx of newcomers to the crypto world. This is why we recognize the importance of introducing additional tools and services to assist individuals in trading smarter, even those who may not possess extensive crypto knowledge. This mission served as the driving force behind our rebranding efforts in mid-2023. Under our new brand motto, 'Trade smarter,' we are not only giving our appearance a fresh new look but also introducing more intuitive features to provide a smarter way to trade for all.


As we continue to reach one and another milestone, we recognize the importance of taking moments to celebrate and reflect on our journey. In September 2023, we marked our 5th anniversary with a series of exciting events. These included the King's Cup Global Invitational trading tournament, the Bitget Smart Awards honoring insights from top traders, and the Bitget EmpowerX Summit held in Singapore.

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Security, Transparency Compliance

PoR and Protection Fund

Since the introduction of Proof-of-Reserves (PoR) in November 2022, Bitget has consistently issued monthly reports detailing snapshots of our reserves. In 2023, our average PoR ratios have consistently maintained at approximately 200%, surpassing the industry standard of 100%.

To provide another layer of security, we continue to closely monitor the Bitget Protection Fund, which was initially valued at $300 million. Our monthly valuation reports demonstrate that the fund's value has consistently remained above $300 million throughout 2023, reaching an all-time high of $410 million in November. Serving as one of the largest self-insured funds among exchanges, the Bitget Protection Fund offers users an added layer of security, safeguarding against hacks, scams, and extreme market conditions.

Mandatory KYC

We have introduced mandatory Know Your Customer (KYC) requirements effective from September 1, 2023, to enhance security compliance and adhere to global and regional financial regulations. The move reflects Bitget's commitment to transparency, regulatory standards, and providing a secure trading environment for its users.

License Registration

Bitget has successfully obtained registration as a Virtual Asset Service Provider (VASP) in both Poland and Lithuania. This accomplishment underscores Bitget's unwavering commitment to compliance and regulatory standards. By proactively engaging with regulatory frameworks, Bitget aims to foster trust and facilitate responsible access to cryptocurrency services.

Corporate Social Responsibility and Crypto Adoption

Blockchain4Youth project

In May 2023, Bitget launched the Blockchain4Youth corporate social responsibility (CSR) project with the mission of empowering younger generations to embrace Web3 and blockchain technology while enhancing their knowledge of digital assets. Over five years, the project plans to invest $US10 million, with initial phases encompassing blockchain courses, certifications through Bitget Academy, campus lectures, and scholarships.

Throughout 2023, we successfully hosted 26 offline educational events and formed partnerships with various colleges, including University College London (UCL), University of Buenos Aires Argentina, Royal Melbourne Institute of Technology, and National Taipei University of Technology, among others, to provide students with comprehensive insights into blockchain technology.

The Blockchain4Youth project also launched its Builders Program to recruit and nurture young talent. The program aims to recruit young talents worldwide and provide them with all the necessary tools and training in crypto, blockchain, and Web 3 experiences. As of now, we have supported over 4,000 Bitget Builders, and we're all about cultivating young minds to prepare for the crypto and blockchain revolution, shaping the next-gen leaders.

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Care for Turkey's earthquake

At Bitget, we believe that crypto communities are responsible for bringing positive change to the real world. The company has donated 1 million Turkish Lira to victims impacted by the earthquake in February 2023. In support of the youth of Turkey, Bitget has established a scholarship fund for its younger users with 1 million TL. The scholarship is part of the company's Blockchain4Youth CSR program and is intended for underprivileged students in Turkey.

Expansion Of Products

At Bitget, we firmly believe that a superior crypto trading platform should empower users to trade smarter, and we are actively adjusting our product strategy to align with this mission. In essence, our focus revolves around three key approaches:

● Elevating our pioneering copy trading feature

● Harnessing the power of AI to develop innovative trading strategies

● Providing comprehensive information resources to support informed investment decisions

Enhanced Copy trading

We offer a revolutionary platform designed to empower newcomers in the crypto trading world to enhance their trading success effortlessly by following the strategies of experienced traders through our innovative copy trading feature. We are committed to refining this feature continually, ensuring that users can harness the full power of copy trading to achieve their trading goals effectively.

In January 2023, we became the first exchange to introduce copy trading in the spot market. This groundbreaking feature was designed to offer users a seamless and convenient trading experience, providing them with the opportunity to replicate trading strategies and trade spot cryptocurrencies. Furthermore, in the fourth quarter of 2023, we launched the Bitget Elite Trader Private Mode, which empowers elite traders to efficiently manage their followers and enjoy a more flexible approach to profit-sharing.

AI-Powered Product

In 2023, widely regarded as the inaugural year of an era driven by Artificial Intelligence (AI), Bitget is at the forefront of harnessing this cutting-edge technology to benefit our traders. Through seamless AI integration, our platform automates and intelligently manages trades, elevating the trading experience to a higher level of sophistication and efficiency for our users.

We initially integrated AI with Grid Trading, allowing users to easily initiate this strategy by selecting from a range of AI bots, including 'conservative,' 'secure,' and 'aggressive,' to cater to different risk appetites. Following that, the CTA-AI bot was launched, providing users with the ability to confidently pursue net profits, whether through buying (going long), selling (going short), or both. Leveraging AI technology and sophisticated algorithms, our Bitget Futures Quant feature offers users premium portfolios and facilitates informed investment decisions. This innovative feature surpasses traditional limitations, intelligently adapting to diverse market conditions for optimal trading outcomes.

Information for Informed Decisions

In the finance world, information is always key to making decisions. That's why throughout 2023, Bitget enhanced our products to offer an extensive and diversified set of tools for accessing related data and information. These tools encompass market data, analysis, and insights, equipping users with the capability to make well-informed and strategic investment decisions.


In 2008, Satoshi Nakamoto released the Bitcoin whitepaper. A decade later, in 2018, Bitget was founded. The name Bitget is a fusion of 'Bit' from 'Bitcoin' and 'get,' symbolizing Bitget's unwavering dedication to Satoshi Nakamoto's vision of forging a more equitable, open, and mutually beneficial financial and crypto ecosystem, empowering both society and individuals. As we embark on the journey into 2024, Bitget remains committed to standing by users and industry builders, driving forward, and taking the lead in the advancement and innovation of the cryptocurrency world.