Bitget CEO Sandra Indicates More Implementation in Defi in the Future

Agencies
·8-min read

Bitget is one of the world's largest derivatives trading platforms. With its globalization strategy and excellent operation strategy, Bitget has always been in a leading position in cryptocurrency derivatives industry.

Also Read | The Digital Evolution of the Financial Sector, Why DeFi Is the Future

In 2020, Bitget has achieved rapid growth, fully deployed overseas, completed a Series B financing, and launched one click to copy trade to lead the market. For these moves, Sandra played a vital role. We interviewed Sandra and she shared with us how Bitget stands out in derivatives market and her perspectives on the future development of the industry.

  1. Sandra, I know you have been working in the traditional financial field before joining this industry. Why did you choose blockchain industry and why Bitget?

I acquaint myself with the industry in 2016. Out of curiosity, I also made some investments and caught up with a very good market in 2017, then joined a leading spot exchange in 2018.

Also Read | The Digital Evolution of the Financial Sector & Why DeFi Is the Future

Bitget is a trading platform that focuses on derivatives, and the team is also from the traditional financial field. In addition, I personally agree with the use of segmented fields to break through. So I joined Bitget and became the global CEO, managing global business.

  1. After two years of operation, Bitget has become the world's top 5 derivatives trading platform. Can you tell us about the operation conditions of Bitget?

Bitget is a global cryptocurrency derivatives trading platform. Our users come from 43 countries and regions, including Japan, South Korea, Southeast Asia, India, and so on. At present, there are 1 million registered users in Bitget. Since the headquarter is in Singapore and covers the entire Asia-Pacific region, there are more Japanese and Korean users, accounting for 37% of all.

Bitget currently supports spot and futures. Last year, we listed on some authoritative platforms such as CMC and CoinGecko and ranked top 5 with an average daily transaction volume of US$2.4 billion.

Bitget has completed a US$10 million Series B financing led by world’s top game company SNK and co-invested by Anlan Capital in July 2020, and now it is valued at US$ 1 Billion.

We continue to improve the features of our products to meet the real needs of users and traders. We will provide more products to our users in the future.

  1. Now the competition on derivatives is rather keen, and what are the advantages of Bitget products?

Though teams are vital, for users, suitable and good products is the most important thing. Our products can not only meet the professional trading needs of professional users, but also are very suitable for contract novices.

Concerned of professionalism, Bitget is similar to Bitmex, with good matching machine and comprehensive features. Our advantage is that we support USDT/Coin margined contract, and provide multiple trading pairs, covering as many as 17 mainstream and popular coins, including BTC, ETH, LTC, EOS, XTZ, ATOM, etc., which can meet users' different transaction preferences. In July 2019, we launched a USDT margined contract, which is the first exchange in the industry to have both USDT margined contract and coin margined contract. Our product has more than 40 features, which include support cross/isolated margin mode, preset take profit and stop loss, flash open/close positions, tiered liquidation, etc., and they can help users a lot in risk management.

For novices, we have launched the star product, one click to copy trade, which is embedded in our APP and does not need to be connected to API separately, what’s more, it is rather simple to use.

For products, technologies, and systems, they are all self-developed, which is sufficient to ensure the smooth using experience of daily technical interactions, system upgrades. This also creates a firewall for our platform transaction security and asset security.

  1. You just mentioned one click to copy trade. Can you give us a detailed introduction to this product?

Bitget currently has more than 2,900 traders and more than 1.3 million copy trade transactions. Bitget is already the world's largest cryptocurrency contract copy trade platform.

The core of this product is to solve the pain in the neck of both users and traders. For users, one click to select the trader to follow equals to synchronize the trader's opening/closing behavior without constant marking. Users can select traders through 13 data latitudes. It is easier to make profits by following professional traders. This product is especially suitable for contract novices.

For traders, if they join Bitget and initiate trades, they can get a 10% profit return. Bitget will also select star traders every week and hold traders' competitions every week. Traders will have the opportunity to get the publicity and promotion by Bitget and media resources to enhance their popularity.

Now we have comprehensive features of copy trade, and also supports USDT/Coin margined contract to copy trade.

In order to increase community interaction, we also regularly hold trading competitions, and select excellent traders in each phase to give them a sense of honor.

  1. Do you have any thoughts and experience to share with us since Bitget develops so rapidly and covers 43 countries and regions?

We now have more than 150 employees worldwide, and the most important way in various regions is to implement operations in line with local circumstances. We found that our users are not very sensitive to promotion. They pay more attention to products themselves, trading experience and liquidity. Therefore, our overall operation direction is more inclined to user promotion, localized promotion and product promotion.

Only by offering users great using experiences can we go further. Our value is customer first, and my work is also mainly centered on users. We provide the best trading experience and the most comprehensive customer service for them.

For example, we have done a lot of tutorials, pictures, videos, cartoons and other forms for users. In addition, Bitget provides 24/7 multilingual online customer support. For rewarding activities, our prizes are also attracting. Last year, we gave away more than 1.2 million US dollars.

In addition, we have also launched Global Partner. We will share the platform growth dividend with our global partners and they can get up to 60% commission.

  1. Bitget provides contract services in a early period among leading derivatives exchange. Now users worry about things such as overload, what measures does Bitget have?

Security is what I fancy to talk about. Ensuring the safety of users' assets is the top priority of our work.

First of all, technically, we self-developed our system, and in terms of safety, we have more autonomy. In addition, multiple physical isolation is what we do for hot and cold wallet, and we support dedicated and multi-signature to provide a better protection for assets.

Secondly, Bitget has been included in CER, which is an International Security Rating Agency, and is the only one derivatives exchange with A+ ranking for 12 SSL indicators.

Thirdly, our risk management team are made of technical experts with international first-class security and financial backgrounds. In case of extreme market conditions, Bitget deals with them in the first place. Bitget system is stable and safe, and has many experiences in resisting international hackers and extreme market conditions.

  1. Do you think there will be any new trend of cryptocurrency in 2021?

The market of cryptocurrency has gone through several rounds of bull and bear. The development of the industry has become increasingly mature, and the market competition has gradually shifted from the expansion of product types in the past to the competition of product quality. Improving the utilization rate of funds and reducing the risk of positions will become the key to competing for the derivatives market in the next move.

Recently, I noticed a data that DeFi's market value has increased 12 times to 19.6 billion US dollars in the past year, and this data is still rising. I think the competition for the DeFi derivatives of the exchange will be the focus in 2021.

With the refinement of supervision and product innovation, the competition pattern in the cryptocurrency market has also undergone certain adjustments. As institutional investors begin to allocate cryptocurrencies, I believe compliance exchanges will become the first choice for more institutional investors and users.

  1. Bitget has been focusing on derivatives, can you talk about any new implementations and strategic plans for 2021?

First of all, Bitget is a trading platform focusing on cryptocurrency derivatives. In the future, we will continue to do that and to polish products. For the first half year, we will launch a simplified version for contracts novices to lower the threshold for contract trading. In terms of contract products, we hope to make more innovative things, such as options.

Secondly, the concept of Defi is very popular now, and our team is also considering making some layout in the field of decentralization this year, and we’ll have our development and progress known if there’s any.

Finally, compliance and globalization are the main directions of our team in the coming year. At present Bitget already has financial licenses from Singapore, the United States, Canada and Australia. We will actively acquire financial licenses from other countries in the future. In addition, we will look for increments in the global market, carry out localized operations in various countries, highlight the value of users, and continuously expand the technological boundaries of blockchain to accelerate the arrival of the value Internet era.

Company Name: Bitget Trading Platform

Website: bitget.com

Contact: Jennifer

Email Address: bd@bitget.com