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Bitget Becomes The First CEX To Launch Copy Trading In The Spot Market

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Bitget Becomes The First CEX To Launch Copy Trading In The Spot Market

press release

PRESS RELEASE. (Victoria, Seychelles, 17 Jan 2023) Leading crypto derivatives exchange Bitget announces to be the first exchange to launch copy trading in the spot market. As the first exchange for offering copy trading for derivatives in 2020, Bitget has honed its highly liquid, highly innovative flagship product, One-Click Copy Trade, to deliver a similarly intuitive experience for spot traders in 2023.

Copy trading provides a good starting point for beginners to shadow their trading portfolio with a more experienced trader and increase their chance of profitability. Also, users are entitled to more transparency and flexibility as the feature discloses detailed information on the traders’ ROI, buy and sell time and price, portfolio, and P&L records, together with personalized Maximum Investment, Stop Loss and Take Profit options.

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One-Click Copy Trade is Bitget’s flagship product, simplifying trading for beginners by allowing them to copy sophisticated futures trading strategies with minimal effort. As of December 2022, the company’s One-Click Copy Trade in the futures market has accumulated over 80,000 traders, and 338,000 followers.

The newly launched Copy Trading feature in the spot market aims to provide a seamless and convenient experience by giving users the option to copy trading strategies and own the cryptocurrency in their wallet. Users can view trader profiles provided by the platform to choose their preferred trader to follow, based on their P&L, trader ranking, and portfolio as recorded in the system. One-Click Copy Trade is a win-win solution as followers’ trades will be automatically executed with the subscribed traders’ orders after subscription and a profit share percentage will only be charged when a profit arises from the trades. The feature also offers a passive income stream for successful and experienced traders to further increase their yield.

Gracy Chen, Managing Director of Bitget, says, “Bitget was the first exchange to offer copy trading in the crypto futures market in 2020, and ever since, our One-Click Copy Trade has always been a featured product in the company. The product’s success has been proven by the numbers and also helped Bitget become the largest crypto copy trading platform. We are proud to extend the product to the spot market, as this will further expand our audience base and offerings for social trading, as well as solidify our leading position in the crypto space.”

“Bitget has been dedicated to providing users with the best possible social trading experience. In addition to perfecting our product offerings, Bitget also rolled out a multitude of safety and protection measures, including Fund Custody, Merkle tree Proof of Reserves, and Bitget’s US$300 million Protection Fund during the crypto winter, in order to safeguard and protect the users’ funds on our platform.”

About Bitget

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Bitget, established in 2018, is the world’s leading crypto derivatives exchange with a core focus on social trading, currently serving over 8 million users in more than 100 countries worldwide. The exchange is committed to providing secure, professional, and one-stop trading solutions to users and aims to increase crypto adoption through collaborations with credible partners. Bitget is the exclusive crypto exchange partner with legendary Argentinian footballer Lionel Messi, and the official eSports events organizer PGL, as well as the first sleeve partner of Italian leading football team Juventus.

To safeguard users’ funds on the platform, Bitget adopts top-notch security and protection measures including a $300 million Protection Fund, a Fund Custody service, pledged to be fully reserved back by the Merkle Tree Proof of Reserves model.

To learn more about Bitget, please visit https://www.bitget.com.


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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Bitget

Bitget Announces Winners Of Hero Trader Awards 2022

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Bitget Announces Winners Of Hero Trader Awards 2022

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PRESS RELEASE. VICTORIA, Seychelles — Bitget, a leading cryptocurrency derivatives exchange, has announced the winners and conclusion of its Hero Trader Awards 2022 competition. The event was organized to select the best 15 copy traders with high moral standards and professional qualities through community voting.

The Hero Trader Awards 2022 commemorated the advancement of copy trading based on transaction data from Bitget’s One-Click Copy Trade in 2022, which was used to select 75 Star Traders who participated in the contest.

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Bitget is a pioneer in crypto copy trading thanks to the way it works to improve products through innovation. One-Click Copy Trade is Bitget’s flagship offering of crypto copy trade, and as of Jan 19th, 2023, the product has amassed more than 80,000 traders and over 380,000 followers, along with 42,000,000 profitable copy trades since its launch. Recently, Bitget has become the first cryptocurrency exchange to launch copy trading in the spot market.

The event parsed winners into five categories – Grand Champion Award, Robin Hood Award, Mansa Award, Hermes Award, and Genghis Award, as users voted for their favorite candidates based on a range of trading variables, helping Bitget select the 15 finalists among the best copy traders. The prize pools range from 8,000 to 3,000 USDT. Other prizes include poker themed NFTs, copy trading follower count increases, and various exclusives.

Bitget will also give additional benefits to Hero Trader Award candidates, including invitations to a series of AMAs and seminars on Twitter, as well as eligibility to join the Bitget Hero Traders Foundation with the opportunity to participate in follow-up activities and training for the foundation.

Gracy Chen, Managing Director of Bitget, remarks “Bitget has always been investing in developing the best community with effective trading information for our users. Events like the Hero Trader Awards 2022 are important opportunities for community users to engage in rewarding activities and explore many new possibilities that copy trading and derivatives trading market offers. Our team would like to thank all the participants of the Futures Hero Trading Award Event, for every participant is essential for the development of our trading ecosystem.”

More details about the winners and prizes of the Hero Trader Award event can be found on the official website.

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About Bitget

Bitget, established in 2018, is the world’s leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world. The exchange is committed to providing a secure, one-stop trading solution to users and aims to increase crypto adoption through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the Italian leading football team Juventus, and official eSports event’s organizer PGL.


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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on [email protected] to talk about press releases, sponsored posts, podcasts and other options.

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Bitget

Bitget Launches Fund Custody Service With Dedicated Wallet To Elevate Safety

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Bitget Launches Fund Custody Service With Dedicated Wallet To Elevate Safety

press release

PRESS RELEASE. Victoria, Seychelles 11 Jan 2023 – Leading crypto exchange Bitget launches the Fund Custody service for professional investors and institutions. The service will provide dedicated wallets to qualified accounts to maximize protection of customers’ funds on the platform. The exchange also recently released the latest snapshot of its Merkle tree Proof of Reserves to reassure users that their assets are held in 1:1 reserves.

To be qualified for the Fund Custody service, users will have to store more than or equal to 100,000 USDT worth of combined assets (including spot, futures, Bitget Earn, fiat currency, and leverage) on the platform. Once the application is approved, the user will then be assigned a separate custodial wallet, with its own dedicated address to check and withdraw funds separated from the main reserve.

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Storing the asset in a separate wallet prevents users’ funds from being affected in case of emergencies such as an exchange run, or other cybersecurity threats. The wallet assets will be rounded on a daily basis to make sure the user still meets the required conditions.

Additionally, Bitget has recently updated its Merkle tree snapshot as of December 31, 2022, and the latest reserve ratio of the most popular tokens are as follows:

  • BTC reserves are held at 650%
  • USDT reserves are held at 185%
  • ETH reserves are held at 237%

The exchange is committed to be fully reserved holding customers’ assets on the platform at least on a 1:1 reserves ratio.

Gracy Chen, Managing Director of Bitget, remarks, “Protecting our customers’ assets is, and always will be, our top priority at Bitget. Ever since the collapse of some bad actors in the industry, we have taken a series of initiatives for heightened protection. In addition to the security offered with our US$300 million Bitget Protection Fund and Merkle tree Proof of Reserves, we are proud to announce our Fund Custody service. The new service, equipped with industry-grade security systems and dedicated wallet addresses for qualified users, shall further foster transparency and elevate safety for our users and their funds.”

About Bitget

Bitget, established in 2018, is the world’s leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.

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The exchange is committed to providing a secure, one-stop trading solution to users and aims to increase crypto adoption by collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the Italian leading football team Juventus, and the official esports events organizer PGL.

To learn more about Bitget, please visit https://www.bitget.com.


Tags in this story

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Aisha Yaqub
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BitGet becomes the latest victim to a DeFi exploit as BitKeep loses more than…

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BitGet becomes the latest victim to a DeFi exploit as BitKeep loses more than…

  • BitKeep lost more than $8 million to a DeFi exploit caused by malicious APK packages
  • The BitKeep team assured compensation for users who have lost funds

BitKeep, a non-custodial wallet owned by popular crypto derivatives exchange Bitget, lost millions to a hack. Bitget becomes the latest crypto platform to fall victim to a DeFi exploit in 2022. 

Behind-the-scenes…

As of 26 December, users on Twitter started reporting that their BitKeep wallet automatically transferred funds without their knowledge. Bitkeep soon acknowledged the suspicious transactions in their official telegram group

The team reported that the malicious codes embedded by the perpetrators into APK package downloads were responsible for the exploit. The hackers reportedly hijacked the APK packages and modified them. These were subsequently downloaded by the wallet’s users.

“If your funds are stolen, the application you download or update may be an unknown version (unofficial release version) hijacked” the team stated. 

Hackers siphoned off more than $8 million

According to data gathered by on-chain analytics firm PeckShield, the hackers managed to get away with more than $8 million worth of crypto assets. According to the OKLink data monitor, this included 4373 BNB, 5.4 million USDT, 196,000 DAI, and 1233 ETH. 

Furthermore, Web3 security firm Supremacy Inc reported that the perpetrator behind BitKeep’s hack was mixing the exploited crypto assets through SideShift and FixedFloat. These are both platforms that provide swap easy services. Furthermore, the hacker also transferred 652 BNB and 70,000 DAI using these platforms so far. 

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The BitKeep team, as of this writing, was investigating this attack and warned its users to transfer their funds into other credible wallets downloaded from Google Play and App store.

Users have also been asked to submit any relevant information related to the hack, though a Google form. The team clarified that users who have lost funds due to this hack will be compensated by the BitKeep Security Fund. 

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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