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In a decisive move towards bolstering security and compliance, Bitget, one of the leading crypto exchanges, has announced the rollout of mandatory Know Your Customer (KYC) requirements for all EN users, effective December 15, 2023.
This strategic initiative aims to fortify Bitget’s position as a tier 1 exchange and provide a secure trading environment for its global user base.
Enhancing security with a two-tier KYC system
The platform-wide KYC requirement marks a significant milestone in Bitget’s mission to offer a secure and regulated trading environment. The two-tier KYC system provides users with flexibility while ensuring compliance with financial regulations.
Completion of Level 1 grants users access to all Bitget services, including derivatives and copy trading, with daily withdrawal limits of up to $3 million.
The phased rollout of KYC minimizes disruption and allows users ample time to upgrade their accounts. Beyond compliance, Bitget’s KYC initiative aligns with global financial regulations, demonstrating the platform’s commitment to combating financial crimes such as money laundering.
To encourage user cooperation, Bitget is offering exclusive rewards. The first 5,000 users completing KYC by December 15, 2023, will receive a trading bonus of up to 100 Tether (USDT). VIP users can anticipate a generous 200-500 USDT bonus, along with the chance to win an iPhone 15 Pro. Additionally, users completing a short KYC questionnaire stand a chance to receive 100 USDT.
Additional security measures for Bitget users
In addition to KYC, Bitget has implemented a suite of security measures, including Proof of Reserves, a Protection Fund, and state-of-the-art cold storage. These measures collectively reinforce Bitget’s commitment to safeguarding user assets and maintaining the integrity of its platform.
As the cryptocurrency exchange landscape evolves, Bitget’s proactive approach and dedication to user security position it as a leader in the industry. The user-centric initiatives underscore its mission to inspire individuals globally to embrace the opportunities presented by the crypto space.
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