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Bitget protection fund hits a new ATH


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Every investors top priority in choosing a crypto exchange is security of their assets. Over the years, many exchanges have come and gone due to varying factors. Some packed up as a result of mismanagement of users funds, others were due to security breaches like hacks and some due to harsh bear market condition but in the midst of this, Bitget continue to shine, soar and expand across board with the latest report seeing the exchange protection fund record a new ATH of over $400M in the month of November.

No doubt the month of November was quite good for crypto however Bitget protection fund was around $330M four months ago. Very drastic addition in my opinion, while some exchanges seems to be having different issues like lawsuit, hacks and some even packing up due to bankruptcy, it still beat my imagination what Bitget is doing differently to achieve such significant milestone.

What are your thoughts about this development?

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1 hour ago, Wakanda said:

Every investors top priority in choosing a crypto exchange is security of their assets. Over the years, many exchanges have come and gone due to varying factors. Some packed up as a result of mismanagement of users funds, others were due to security breaches like hacks and some due to harsh bear market condition but in the midst of this, Bitget continue to shine, soar and expand across board with the latest report seeing the exchange protection fund record a new ATH of over $400M in the month of November.

No doubt the month of November was quite good for crypto however Bitget protection fund was around $330M four months ago. Very drastic addition in my opinion, while some exchanges seems to be having different issues like lawsuit, hacks and some even packing up due to bankruptcy, it still beat my imagination what Bitget is doing differently to achieve such significant milestone.

What are your thoughts about this development?

Actually I presume it should be $400M+ by now cos it's one Exchange next to Binance that prioritize their users funds safety imho.

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Sadly insecurity is still one of the setbacks of crypto adoption. I reckon if all exchanges exhibit this concerted effort and commitment towards preserving the security of users' funds, the industry will be made more conducive and crypto adoption will be fast-tracked.

Edited by Incarts
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  • 2 weeks later...
On 06/12/2023 at 01:50, gandalf03 said:

Actually I presume it should be $400M+ by now cos it's one Exchange next to Binance that prioritize their users funds safety imho.

Yeah, an extra layer of security... Tho, they're super concerned about their users security but protection fund is helping them to gain user's trust which is actually good!

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On 15/12/2023 at 00:51, Imam said:

Yeah, an extra layer of security... Tho, they're super concerned about their users security but protection fund is helping them to gain user's trust which is actually good!

I think the marriage between Proof of Reserve and Protection funds is really boosting investors confidence in exchanges and has also driven up TV in the last couple of months

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2 hours ago, BashJasper said:

I think the marriage between Proof of Reserve and Protection funds is really boosting investors confidence in exchanges and has also driven up TV in the last couple of months

It is one of the best thing of Bitget. Specially this live feed...

IMG_20231218_075725.jpg

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This was what made me use their platform more often, before now am a die hard fan of DEX and hardwallet . Since ftx crash which left me bankrupt, all good am recovering my lost assets through different crypto tradings and competitions here on their cex .

Edited by Jaja24
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  • 1 month later...
On 23/12/2023 at 20:02, Jaja24 said:

This was what made me use their platform more often, before now am a die hard fan of DEX and hardwallet . Since ftx crash which left me bankrupt, all good am recovering my lost assets through different crypto tradings and competitions here on their cex .

Yup, definitely a good choice. They always care about their users & never fails to bring dope things,(projects/events/reward) to satisfy their users.

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