How Bitget Became a Dark Horse and Earns Market Share and Trust From Millions in Crypto Winter

2022 was 1 of the roughest years successful the crypto industry, which saw the illness of Terra LUNA, Celsius, and FTX, consequently wiping retired implicit $2 trillion from the crypto market. However, the acheronian equine successful the look of these disfigured events was the crypto speech – Bitget.

Despite the hardships successful the market, Bitget grew successful each aspects; the institution made large strides successful gathering our team, brand, and concern implicit the past 12 months during the crypto winter. The speech expanded its services to the planetary Web3 marketplace for the archetypal clip successful 2022. This effort pushed its concern velocity beyond bounds, making it 1 of the fastest-growing exchanges with the champion concern momentum.

Some cardinal improvement areas of the institution included:

1. Climbing the illustration ranked arsenic the Top 3 speech according to the Boston Consulting Group report, successful presumption of the crypto derivative trading volume.
2. According to the latest TokenInsight report, Bitget’s marketplace stock successful the derivative marketplace accrued from 3% to 11% aft the illness of FTX
3. Over 300% summation successful full transaction volume, with the popularity of transcript trading products
4. The workforce grew from hardly 200 radical astatine the opening of 2022 to implicit 1100 employees successful Jan 2023
5. Became the exclusive crypto speech spouse with Lionel Messi

Looking astatine the Numbers

Previously, the institution focused connected serving customers from a fewer Asian countries alone. However, by the extremity of 2022, the speech had acquired implicit 8 cardinal users successful much than 100 countries, with footprints successful Turkey, Southeast Asia, Latin America, and Europe.

Bitget saw an implicit 300% summation successful full transaction measurement with much than 4.2 cardinal profitable trades. The platform’s on-chain information shows that 100,000 positive traders shared a nett of implicit 9.7 cardinal US dollars with its transcript trading products.

According to the latest information shared by the TokenInsight report, Bitget’s marketplace stock accrued dramatically from 3% to 11% aft the illness of the erstwhile second-largest exchange, FTX, which marked the azygous largest marketplace stock maturation successful the crypto derivatives sector. At the extremity of 2022, the apical 10 exchanges’ full regular unfastened involvement had dropped by 27.1% from January and 41% from its highest successful April of the aforesaid year. Among the exchanges, lone Bitget achieved a important summation successful unfastened interest, from $841 cardinal to $3.74 billion, representing a 344% full increase.

Regardless of the bearish market, the speech attained these galore figures erstwhile immoderate different manufacture players went bankrupt. Bitget bushed the manufacture inclination due to the fact that they did 4 things correctly.

1. Defined Copy Trading

The level spent the past 4 years perfecting its infrastructure and products for transcript trading to supply the astir outstanding societal trading experience.

One-click Copy Trade, the flagship societal trading product, which enables customers to execute trades automatically, shadowing orders and strategies from the experienced traders of their choice, has worked wonders for its concern and users. The speech saw galore traders moving funds from different starring crypto exchanges to Bitget to bask the easiness of transcript trading.

The One-click Copy Trade diagnostic streamlined the full process of crypto trading to a azygous click, eliminating quality errors successful terms fluctuations and providing a bully starting constituent for everyone to get into the game.

In 2022, the institution launched Bitget Insights and Strategy Plaza, wherever users tin find much ways of maximizing their yields. These features connected the tract assistance users take the astir lucrative trading methods to subscribe to.

Innovative transcript trading products and societal trading services are Bitget’s quintessential attributes and person made Bitget the largest crypto transcript trading platform.

2. Protection and Security for Users

The institution person besides taken galore information measures to guarantee users tin commercialized with easiness and comfort, arsenic demonstrated by the following:

• In the past 4 years, Bitget astir achieved zero accidents contempt the assorted marketplace conditions. This feat was the inevitable effect of the time and nighttime monitoring and continuous advancement successful our IT and information strategy successful the past 4 years. As a result, the speech has acceptable astir 1 of the champion records successful the industry.
• Bitget besides launched a 300 cardinal Protection Fund that the institution pledged nary withdrawal successful the adjacent 3 years successful lawsuit of emergency. However, nary exigency cases person been observed successful the 4 years of the platform’s operations.
• The company’s Merkle Tree Proof of Reserves tracking leafage updates our snapshot monthly, ensuring a 1:1 reserve ratio of lawsuit funds. Bitget has besides developed an open-source tool, ‘Merklevalidator,’ disposable connected GitHub. This assets reveals our on-chain information connected third-party platforms similar Nansen, CoinGecko, and more, arsenic good arsenic provides a instrumentality for its users to verify their relationship reserve information.

3. Equal Priority to Retail Investors

The institution has consistently adhered to the doctrine of putting our retail users first, going against galore akin businesses successful the manufacture arsenic astir worth organization and VIP users more. But Bitget is much consenting to service retail users, truthful erstwhile designing merchandise attributes, involvement extortion mechanisms, and merchandise thresholds, the institution ever has retail users successful mind.

At Bitget, retail customers get amended services and much favourable rates. The institution believes retail investors are an indispensable momentum operator successful the improvement of the crypto industry, which is precise antithetic from accepted finance.

4. Working intimately with Influencers

Bitget accumulated highly motivated Key Opinion Leaders (KOL) and affiliates implicit the past 4 years and has a web of implicit 100,000 adjacent KOL partners worldwide.

The institution was the astir affable level for KOL and Key Opinion Consumers (KOC) successful the industry. Together with these influencers, the institution spreads the astir nonrecreational trading strategies and high-quality contented with users.

Social trading is 1 of the important parts of Bitget’s system. The institution recovered a chiseled improvement way that suits the platform’s characteristics and remains focused. Therefore, though galore achievements person lone manifested this year, it is so the effect of the team’s continuous efforts implicit the past 4 years.

The Advice for Fellow Builders successful the Bear Market

1. Create a merchandise with distinguishing qualities and go a person successful the field: radical are people drawn to fig 1 successful the manufacture for each the close reasons.
2. Security and extortion is the astir captious facet of blockchain businesses. Ensure users that their funds are ever theirs and are withdrawable astatine request. This way, everyone volition beryllium consenting to store assets with the product.
3. Every concern determination should beryllium made from the consumers’ perspective. For example, a merchandise that provides users benefits and existent usage cases volition yet win due to the fact that users volition people instrumentality around.

MD’s Vision for the Crypto Industry successful 2023

“As macro liquidity continues to impact the crypto market, the involvement complaint spike is expected to dilatory down successful 2023 gradually. Although we are not definite erstwhile the involvement complaint cuts volition happen, the interaction of the Fed connected macro liquidity volition besides proceed to impact investors’ expectations for the crypto market.

In addition, the fig of locked positions successful DeFi is expected to summation dilatory successful 2023. Regardless of the diminution successful the worth of fashionable blockchain tokens, the fig of progressive users and caller wallet addresses connected chains similar Polygon, Ethereum, and BSC has remained connected the rise.

As much DeFi bluish chips dilatory alteration into the ecosystem’s infrastructure, the lock-up measurement and TVL of DeFi are expected to proceed to emergence successful 2023. Therefore, I look guardant to seeing however it volition play retired successful 2023!

Hopefully, my code has been capable to springiness immoderate inspiration and assurance to the industry. If Bitget could inactive execute dependable maturation successful the carnivore market, chap manufacture businesses tin execute the same. So, we volition physique the manufacture with steadfast contention and continued userbase maturation together!”

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