BlockTalks x Bitget AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with Bitget, on 9th July 1 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Leslie Chen, COO at Bitget. So here we are up with AMA transcript, for those who missed the live session, this blog post will be saver & feeder of knowledge for them.
Introduction Questions Asked By BlockTalks
Q1. Can you introduce yourself to the community? What’s your position on Bitget?
Ans — Hi,I am Leslie, COO for Bitget Global.
My role is to manage and oversee Bitget global operations, and to promote Bitget to users around the world. I joined Bitget after it was founded in 2018 in Singapore.
Q2. Can you describe 2–3 unique advantages of Bitget Exchange?
Ans — Firstly, Bitget is focusing on derivatives trading, It has both USDT and inverse contracts, the traders can trade efficiently and reduce their risk in the highly volatile markets. Bitget allows to trade long /short both directions for the same trading pair as well.
Bitget has extreme stability speed matching engine capable of up to 100,000 TPS, the advanced and professional risk control system to provide the fairest trading experience without system overload in Bitget. All our system infrastructure, security, risk management control etc are all specially target for derivatives trading.
Bitget has always insisted on carrying out business in various countries and regions under the premise of legality and compliance, expanding its international strategic territory and achieving global compliance operations.
Bitget has recently received many licenses, such as:
• The MSB license for the US,
• MSB license for Canada
• Digital Currency Exchange (DCE) License for Australian and currently Bitget have been granted an exemption from holding a license under the Payment Services Act from MAS, Singapore.
And we are honored that we have the embedded “Copy Trade “Function at Bitget now. “Copy Trade” allows user to copy the trade strategy from Elite Traders on Bitget. It is user-friendly to those without or primary contract experience, user can select multiple preferred Elite Traders, and follow them to automatically synchronize their trading behaviors to achieve profitability just by one click, no more keeping eyes on charts.
Q3. How Bitget ensures top security of user’s funds? What’s in your security layer?
Ans — First of all, as mentioned in previous question , Bitget has been in compliance with policies and continued efforts to regulate operations；
Secondly, we have professional team from different industries, Bitget have the independentR&D of the exchange systems and powerful risk control system, using bank-level SS data encryption guarantee, real-time monitoring of balance detection system, built-in DPI active defense system, and self-developed wallet warning system. S ++-level protection of user transactions and assets and have stood up against hackers.
Bitget has also invested a lot in setting up a security department since Nov 2018, ensuring exchange security and user security as an important feature.
You will see this.
Questions Asked on Twitter For Bitget!
Q1. How can we join the Copy Trade function on Bitget? What are the main steps we must follow?
Ans — It’s actually very simple, you only need to do some simply setting, because the “Copy Trade” allows user to copy the trader’s strategy from Elite Traders on Bitget, and NO KYC is needed.
1. Select Elite trader
2. Choose trading pair
3. Set leveraging
4. Set trading amount
5. Ready to go
You can select multiple preferred Elite Traders and follow them to automatically synchronize their trading behaviours to achieve profitability, but as we know, all trading has risk even done by professional traders. To join Copy Trade function in Bitget, the most important part is to find a good and suitable trader for you.
User can refer the trader’s profit such as profit rate, total profit, 3 weeks win rate, follower’s profit etc. to make a judgement. We also announce the Star top trader which we select on weekly and monthly basis.
Q2. I am interested in becoming an ELITE TRADER For people to copy me, so what are the requirements and benefit.
Ans — Simply say, Elite trader program is part of Copy Trade, Trader will perform trade on bitget, and they can get more income from 3 aspects:
a. his own trading profit
b. 10% from his follower’s profit
c. 40% commission from referral
Elite trader will get high traffic on Bitget, so they can monetize their trading skills and experience.
The very basic requirement is you need to be a good trader, knows how to manage funds. You can read and apply here:
Q3. This is a very serious issue and that’s why I always advice every Newbie I referred into Crypto to do their own research thoroughly about any exchange before transacting on it. Is Bitget Complaint and certified by the regulators in its jurisdiction?
Ans — Bitget is holding many financial and crypto exchange licenses, such as:
MSB license for the US,
MSB license for Canada,
Digital Currency Exchange (DCE) License for Australian and
Bitget have been granted an exemption from holding a license under the Payment Services Act from MAS, Singapore.
Bitget has always insisted on carrying out business in various countries and regions under the premise of legality and compliance, expanding its international strategic territory and achieving global compliance operations. Bitget is committed to becoming a benchmarking platform for global compliance operations in the industry, providing the most compliant, safe and professional digital currency trading services for users worldwide.
Bitget-Easy to Get Easy to Exchange
Bitget is a full-featured spot trading platform for major digital assets and cryptocurrencies, including Bitcoin…
Q4. Is a bitget platform for professional traders? what is the effect that ordinary investors who are not trading experts can feel from using bitget platforms?
Ans — Bitget offers professional-grade trading platforms to support both beginners and expert-level traders. We provide excellent liquidity and the first platform in the world that has both USDT forward contracts and inverse contracts. If you are an ordinary trader, you can visit our help center, there many training tutorials. Also, we strongly encourage you to use our simulator to practice, totally free.
App embedded Copy Trade Function is another opinion for ordinary users as well as beginners. The “Copy Trade” allows user to copy the trader’s strategy from Elite Traders on Bitget.
User can select multiple preferred Elite Traders and follow them to automatically synchronize their trading behaviours to achieve profitability just by one click, no more keeping eyes on market. Of course, you can close position at any time if you feel the trader’s direction is wrong.
Q5. As a trader, what advice you will Give to other NewBies who just start their Tradings? What stratergies should any New Traders should do for making Profitable Trades?
Ans — The slogan of “Bitget is Easy to Get, Easy to Exchange”. That means we are the gateway for contract trading, especially for the users without experience ,this year we has launched Embedded Copy Trade Function. The new traders can choose the traders to follow, you can select multiple preferred Elite Traders, and follow them to automatically synchronize their trading behaviours to achieve profitability just by one click, no more keeping eyes on market.
We provide indicators for users to review, like total P/L, profit, 3-week win rate, follower’s profit etc. But the most important for new user is learn the risk management. Efective risk management is the foundation of all successful online trading and investing. The process comes with its tools, specifically “Take Profit/Stop Loss” and “Stop-limit”. You can decide in advance what is an acceptable level of loss for any particular trader (or trade) you copy and set your account to automatically close the copy trade if that level is exceeded.
Questions Asked by our BlockTalks Community Members during live Session for Bitget!
Q1. What are the development plans in Southeast Asian countries? Which country are Bitget Exchange currently thriving in?
Ans — Yes, SEA regions is one of Bitget’s aim. Currently we are collaborating with many local communities in SEA regions, like the communities in Indonesia, Vietnam, the Philippines and India.
You can join our global telegram group and refer to the pinned message, you can find those local groups of Bitget.
Q2. What are your plans to educate and raise awareness and adoption among the community to make more people understand Bitget and its technology?
Ans — This is more related to marketing. Bitget is consistently doing online and offline events. But due to recent Covin19 situations, we have to cease the offline event. We do also partner with many top media medias (like Cointelegrah) and KOLs, to increase the brand awareness in the public.
This is another example we work with KOLs to promote our Copy Trade:
Q3. How many people have used Bitget Exchange to trade? Can you tell us how many users you have? What is your strategy for growing a base or attracting users over time?
Ans — We have around 91K users and 9K daily active users. Our strategy is to provide users fairly,professional and reliable platform . We will focus including Copy trade, forward and inverse contract, and stable system, as well as our global compliance operations.
Q4. WHAT are the opportunities opened to us with BITGET DEFI TOKEN?
Ans — Bitget Defi Token — we call it BFT. Currently it used as security bond for our super nodes from different communities. We also use it as rewards to our platform users, like in our Benefit Center, users can earn BFT daily and can participate in our lucky draw to have a chance to get BFT or 100 USDT awards etc.
For join copy trade, one of the most important factor is to select the Elite trader. There are my suggestions:
All Elite trader’s trading profile (trading history) are open and transparent. Normally, best and popular traders are always full house, a lot of people want to follow them to gain profit.
From their profit, you can check their accumulative win rate, his own profit, his follower’s profit, and recent trading history etc.
I will show you an example
Those marked “Full” which you are not able to join at this point of time. Need to wait someone leave
Q5. What is KOL PROGRAM?
Ans — The reason to launch KOL program is that we hope blockchain or trading enthusiast can join us to grow together.
Basically the KOLs needs to have a community group not less than 500 members in crypto industry, and can help prompt Bitget. In return, they will get:
High commission rebate — 40% or higher from invitee’s transaction fees ；
Allowance — range from 200–500 USDT monthly;
Extra bonus — up to 9,000 BFT monthly extra bonus;
Exclusive honors — obtain exclusive poster by Bitget and expose in the traffic pool;
Official authorization — authorize to recruit and incubate online agents, and give priority seats for Bitget official events;
Delicate gift — receive limited edition Bitget KOL gift pack;
Early bird — enjoy early bird discount at Bitget platform.
Here are some important links of Bitget 👇
Bitget Telegram — https://t.me/bitgetEN
Bitget Twitter — https://twitter.com/bitgetglobal