In Interview with Gracy Chen, Managing Director at Bitget

Gracy Chen, the Managing Director of Bitget, is at the forefront of the cryptocurrency and fintech revolution. Bitget’s mission, encapsulated by the mantra “Enhancing Trading, Enriching Lives,” goes beyond conventional trading platforms. They aim to empower individuals with the tools for a secure financial future. “Trade smarter” is not just a slogan; it’s their commitment to guiding users through the complex world of cryptocurrencies. Bitget offers innovative features like copy trading and AI-powered tools, making trading accessible to both newcomers and seasoned traders. Their comprehensive approach blends innovation, security, and growth to bring cryptocurrency into the mainstream.

1. Bitget’s guiding principle is “Enhancing Trading, Enriching Lives.” Could you elaborate on the significance of individuals adopting cryptocurrency in this era of innovative fintech?

Our trade smarter principle is more than just a motto, it embodies Bitget’s dedication to empowering individuals with the right tools for a secure, and inclusive financial future. We’re not just about trading; we’re about trading intelligently. And we’re putting this vision into practice through some exciting developments.

We’re proud to lead the way with our copy trading feature, which allows users to follow the strategies of experienced traders. It’s like having a seasoned pro right there with you. But that’s not all; we’ve got some cutting-edge AI-powered tools in the pipeline, which will take trading to the next level.

Our mission is clear: to help our users trade smarter. We’ll keep enhancing our platform, introducing more helpful features. We’re committed to spreading awareness about cryptocurrencies globally through educational initiatives and partnerships with influential figures like Lionel Messi.

Getting into the crypto world can be a bit daunting, especially for newcomers. That’s where copy trading comes in – it’s a fantastic way for newbies to start without feeling overwhelmed. It’s like having a mentor right on your screen, guiding you through the crypto market. So, our motto ‘Trade smarter’ is a promise we’re keeping to help people navigate the exciting, yet intricate, world of cryptocurrencies which sooner or later will be adopted by the masses globally. 

2. How does Bitget facilitate the process of embracing cryptocurrency for the masses?

Bitget’s vision has always been to provide financial sovereignty to people all around the world. We have multiple approaches to achieving this. 

First off, Bitget offers a diverse range of crypto trading solutions – spot, margin, and futures trading to name some. The standout feature is copy trading, which makes us different from other exchanges. It’s the world’s largest crypto copy trading platform. I’m talking about over 110,000 elite traders willingly sharing their strategies, and more than 570,000 followers eagerly replicating those very strategies. It’s like having a thriving community of traders right there with you, ready to help you make informed decisions.

We’re integrating AI to make advanced trading strategies accessible to traders of all levels. This means new users can trade like a pro without getting caught up in complexities. 

We’ve got a whole suite of offerings that enrich the crypto experience. From crypto loans to earn products and a fiat gateway, we cover all bases. Our trading academy is designed to educate users about the crypto world, ensuring they have the knowledge they need to succeed. And our referral program rewards users for bringing others into the crypto fold.

Additionally, security is a top priority for us. We’ve established the $300 million Bitget Protection Fund. It’s a record of transparency we strive to maintain with our users.  This fund is our way of saying we’ve got your back, no matter what happens. 

Our approach is holistic, blending innovation, security, and growth. We’re not just a player in the crypto landscape; we’re a pivotal force, working tirelessly to make cryptocurrency a part of everyone’s financial journey.

3. What are some of the challenges and opportunities that Bitget Global faces in the rapidly evolving crypto and web3 space?

In the rapidly evolving crypto and web3 space, we encounter both challenges and exciting opportunities. One of the key challenges is keeping up with the ever-changing regulatory landscape across different regions. Compliance is crucial, and it can be complex to navigate varying rules and regulations. Bitget’s  Proof of Reserves (PoR) proves its commitment to comprehensive transparency with its total reserve ratio of 201%. In addition to this, it fortified its asset security measures through the establishment of a $300 Million Protection Fund. In short, we’re keen on solving the challenges by presenting better opportunities to the evolving crypto space. 

4. How do you foster a culture of innovation, collaboration, and diversity within Bitget Global and across the crypto and web3 ecosystem?

We encourage our team members to think outside the box and explore new ideas. Innovation often thrives in diverse environments, so we value different perspectives and backgrounds within our team.

Collaboration is another key pillar. We actively engage with the broader crypto and web3 ecosystem. We participate in partnerships, support initiatives like the Blockchain4Youth project, where we hosted Crypto experience day in 9 countries throughout the globe with a single motive – to teach people about crypto and blockchain. We even organize events such as the EmpowerX Summit happening on 12th September in Singapore that is aimed to bring together thought leaders and innovators of the space.

5. What are some of the key features and benefits of the new Bitget platform that was launched recently?

Bitget offers a diverse array of crypto trading solutions, including spot, margin, and futures trading. The standout feature is copy trading, allowing users to replicate expert traders’ moves. The seamlessness of the product makes it the world’s largest crypto copy trading platform. Since its launch, the copy trading feature on Bitget has attracted more than 110,000 elite traders to share their strategies and more than 570,000 followers to copy.

Crypto loans, earn products, a fiat gateway, trading academy, and referral program further enrich the offerings. We have a launchpad on which we list projects with high potential, which are also in-demand from our community. Bitget’s product features are clubbed with elite partnerships such as with Juventus in 2021 and Messi in 2022. Notably, the $300 million Bitget Protection Fund with transparent wallet addresses and guarantee no withdrawal for 3 years safeguards against crises, reflecting Bitget’s commitment to security. The $100 million Bitget Web3 Fund supports Asian startups in crypto and blockchain. 

In addition, we are incorporating AI to make advanced trading strategies more accessible to novice traders such as the Martingale or the CTA (Commodity trading advisor) strategy. The bot conducts backtests using recent historical data, intelligently identifying optimal parameters to adapt to market conditions. This eliminates the complexities of configuring various intimidating parameters, making it user-friendly for traders of all experience levels.

In early June, Bitget became the first crypto exchange to support an EVM-compatible address. The new feature will elevate trading experience for its users to use a single address for multiple blockchains, as users can trade and store assets with one EVM-Compatible Address through multiple chains on the Bitget platform, including Ethereum, Polygon, Binance’s BNB Chain, Arbitrum One, Optimism and other chains in Ethereum’s layer 2 ecosystem. If users add an EVM address to their accounts during transactions and the withdrawal network is included in the EVM address, they will be able to withdraw directly to the EVM address, thus bypassing a number of intermediary features like bridges and platform hopping. Bitget is dramatically simplifying the trading experience for users.

Bitget has listed over 180 coins in H1 2023 and presented the best performance in Launchpad, with an ATH average ROI of 41.9x.

Bitget’s holistic approach aligns innovation, security, and growth, encapsulating its pivotal role in the evolving crypto landscape.

6. How do you measure the impact and success of Bitget’s initiatives such as the $100M Web3 Fund, the Blockchain4Youth project, and the EmpowerX Summit?

The impact and success of initiatives like the $100M Web3 Fund, the Blockchain4Youth project, and the EmpowerX Summit are measured through tangible outcomes. For example, the Web3 Fund supports innovative projects; its impact can be seen in the progress and contributions of these projects to the crypto and web3 ecosystem. We also assess the positive changes these initiatives bring to the community. For initiatives such as Blockchain4Youth we organized events to further empower young minds with the profound knowledge of crypto. Recently on 12th August we even hosted Crypto experience day in 9 countries throughout the globe with a single motive – to teach people about crypto and blockchain. This attracted over 2000 students globally, I think that speaks volumes about impacting the younger generation. 

7. What are some of the best practices and tips for trading smarter with Bitget and maximizing your returns?

Trading smarter involves several key practices. First and foremost, stay informed about market trends and news. Use our platform’s analytical tools such as Bitget Insights to conduct research. For trading, users should look at what experts of the space are doing to understand the direction of the market, after which users can either set their own clear trading strategies or follow one of the professional traders and copy theirs. It’s important to always DYOR, never invest more than you can afford to lose, and diversify your portfolio to manage risk. Best way to go ahead with this is to consider long-term goals rather than chasing short-term gains.

8. What are some best ways to keep yourself updated and informed about the latest trends, developments, and regulations in the crypto and web3 space?

To stay informed about the latest trends, developments, and regulations, follow reputable crypto news sources, engage with the community on social media and forums, and consider attending industry events and conferences. Bitget also provides educational resources to help users stay up-to-date such as Bitget Academy, Bitget Insights and different types of analysis on our blogs. Overall users should stay informed, do their own research and beware of false information to navigate the cryptospace. 

9. What are your insights for the crypto and web3 space in September 2023?

Multiple macroeconomic analysts predict that, based on U.S. economic data, there may be another interest rate hike as soon as November of this year. According to Wall Street forecasts, the benchmark interest rate is expected to remain around 5.5% until September of next year. Data from the Atlanta Federal Reserve Bank suggests that implied market interest rates will drop to around 4.84% by September next year and remain around 4% in 2025. In the long run, the U.S. dollar index is mostly negatively correlated with BTC, meaning that when the U.S. dollar index rises, BTC tends to fall. A long-term high-interest-rate environment will maintain the strength of the U.S. dollar index, making the chances of a bull market in the crypto market less likely in the short term. However, beyond the year 2024, as monetary policies shift and expectations change, cryptocurrencies represented by BTC are expected to enter a new upward cycle.

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