Bitget introduces fund custody service with a dedicated wallet to increase security - press release
Bitget introduces fund custody service with a dedicated wallet to increase security - press release
press release
press release. Victoria, Seychelles 11th January 2023- leading crypto exchange Bitget starts the f and custody Service for professional investors and institutions. The service will provide qualified accounts dedicated wallets to maximize the protection of customer funds on the platform. The stock exchange recently published the latest snapshot of its Merkle Tree Proof of Reserve to assure users that their assets are kept in 1: 1 reserves.
To qualify for the Fund Custody Service, users have to save more than or equally 100,000 USD value of combined assets (including spot, including Futures, Bitget Earn, Fiat currency and leverage) on the platform. As soon as the application is approved, the user is assigned a separate depot wallet with its own dedicated address for checking and lifting funds that are separated from the main reserve.
Saving the assets in a separate wallet prevents users from being affected in emergencies such as a stock market run or other cyber security threats. The wallet credit is rounded daily to ensure that the user continues to meet the required conditions.
In addition, Bitget recently updated its Merkle tree snapshot on December 31, 2022, and the latest reserve rates of the most popular tokens are as follows:
The stock exchange undertakes to keep the assets of the customers fully reserved on the platform, at least with a reserve ratio of 1: 1.
Gracy Chen, Managing Director of Bitget , notes: "The protection of our customers' assets is and remains our top priority at Bitget. Since the collapse of some bad actors in the industry, we have taken a number of initiatives for increased protection. In addition to the security that our Bitget Protection Fund in the amount of US dollar and Machle Tree Prosof of reserve is proud to be able to announce our Fund Custody-Service.
about Bitt
Bitget was founded in 2018 and is the world's leading cryptocurrency exchange with innovative products and social trading services as the main features that currently serve over 8 million users in more than 100 countries around the world.
The stock exchange strives to offer the users a safe trade solution from a single source, and aim to increase the acceptance of crypto through cooperation with credible partners, including the legendary Argentine footballer Lionel Messi, the leading Italian football team Juventus and the official organizer of e-sports events with regard to
To learn more about Bitget, please visit https://www.bitget.com .
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