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10/06/21 10:53
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Actually I presume it should be $400M+ by now cos it's one Exchange next to Binance that prioritize their users funds safety imho. -
This post is majorly for new crypto enthusiasts looking for good exchange to explore however it is also beneficial to those who already have an exchange they are using. Coinmarketcap and Coingecko is one place new users can explore to find out about the ranking of crypto exchanges however one must do other research not to base his/her judgement only on the position the crypto exchange occupies on this platforms. Other factors like user protection fund, proof of reserve and regulatory compliance must be considered before choosing a CEX especially with the evolving regulatory landscape from different countries which have forced some exchanges out of some countries. From the point listed above, Binance and Bitget take the industry lead in protection fund with $1b and $401m respectively and have verifiable Proof of reserve whose public address can be seen and viewed by their users but when it comes to regulatory compliance, Bitget is number 1 as the exchange is operating in most countries where other top cex are not operational. The visit to the respective cex website and mobile app also indicate users interest and popularity of the exchanges. Below is the ranking of top crypto exchanges by weekly visit. The figure below is only for website visit excluding mobile app. It is important to note that this exchanges were not founded the same year hence it's understandable to see clear difference in the number of website visit. HTX and Gateio were founded in 2013, 10 years in the industry. Kucoin, Binance and OKX were founded in 2017 and MEXC, Bitget and Bybit were founded in 2018. The above exchange are all good exchanges for new users to explore. Which of these crypto exchange do you use and why do you choose it over others? -
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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