Crypto exchange Bitget has launched Fund Custody, a dedicated wallet service for professional traders and institutional clients. It is reported blog trading platform.
The Fund Custody service is available to users with a total asset value of more than $100,000. Bitget takes into account:
- funds on accounts for spot, futures and margin trading;
- assets in staking and other Bitget Earn products;
- fiat currencies.
To receive a dedicated wallet, you need to apply on the Fund Custody page. After its approval, users will receive addresses for deposits, withdrawal of assets and account monitoring through blockchain browsers.
At the time of publication, dedicated wallets are available in the app for Android. In the near future, Bitget will add Fund Custody to the web version of the platform.
According to Bitget Managing Director Gracie Chen, the new service will increase the transparency of the exchange, as well as protect users from potential hot wallet hacks of the platform:
“The security of customer funds is a top priority for Bitget. The launch of the Fund Custody is one of the initiatives aimed at this goal, along with the establishment of the $300 million “Protection Fund” and the implementation of the Proof-of-Reserves solution. December 31, 2022 we once again confirmed exchange reserves: in bitcoin – 650% of user deposits, in Ethereum – 237%, in Tether – 185%.
bitget — cryptocurrency exchange with support for spot and futures trading, copy trading and passive income on products Bitget Earn.
In 2022, the platform actively developed tools for social trading: the Market of Strategies service for automated trading and the platform for publishing trading ideas Bitget Insights. In January 2023, Bitget is the first among crypto exchanges added copy trading service for the spot market.
Bitget previously launched a vote for the best deal providers for copy trading in 2022.
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