Bitget’s Social Trading Platform Could Be a Game-Changer in the Crypto Industry – Here’s Why
Blockchain Economy London Summit was the stage for an insightful interview between Cryptonews and Jay Lee, the Associate Marketing Director at Bitget crypto exchange. The topic of discussion was social trading and how it can revolutionize the crypto industry.
During his interview, Jay explained how Bitget differentiates itself from other crypto exchanges in the market and how they approach listing new cryptocurrencies on the platform.
Reliable and Transparent Information for Copy Traders
Lee noted that the most significant difference in Bitget is its social trading feature. He mentioned that while other exchanges also have social trading, Bitget "makes sure that every trader's information is real and assesses all traders in a transparent way" to ensure reliable information is delivered to copy traders.
He further explained that Bitget monitors the trading history of expert traders who sign up for the service to assess their performance. That way, a trader cannot fake their performance to dupe other users into following them.
Lee stated that becoming a social trader on Bitget comes with incentives such as getting 2.5% of their followers' profits. Bitget pays this incentive in advance, as they want their users to keep their assets, and do not want to take money out of their profits.
Notably, Bitget charges no depositing fees for European and UK customers.
When asked about how Bitget evaluates new cryptocurrencies to list on the platform, Lee noted that they attend all blockchain events to find new listing projects, and have a professional listing team to add and evaluate projects. He added that they are more curious about a project's "community, size, and liquidity."
There are a comprehensive set of criteria checks in place to ensure that only the most promising projects are listed on the platform.
Pioneering Education and Community in the Crypto Industry.
On the topic of how best to educate newcomers to the space, Lee explained that Bitget has the Bitget Academy to produce videos and articles that provide tips, market insights, and one-click copy trading to help customers. He further mentioned that Bitget's social trading feature would attract more novice traders to the crypto industry by providing trusted traders to follow.
Lee sees social trading evolving to have a large market size in the future. He predicted that it will reach $3.8 billion USD in 2028, up from $2.2 billion today. Lee also noted that Bitget is already ranked first by social trading volume and has the largest world community, with over 380,000 social traders.
Therefore, Bitget will continue to pioneer the social trading industry.