1 year ago
77 Bitget has announced plans of working towards an open strategy platform in 2022 as part of the crypto derivatives platform’s efforts to enhance the social trading experience.
The Singapore-headquartered trading platform will first launch grid trading, a type of quantitative trading strategy designed to maximise returns in a range-bound market.
With grid trading, a user simply sets a price range for the automated trading bot, adjusts how many grids they want and, as long as the price stays within one’s set range and depending on the setup, the bot will sell a portion when the price goes up or buy a portion when it goes incrementally down.
Bitget’s copy traders earned over $1 billion since May 2020
Social media and messenger platforms have become an integral part of people’s lives, and trading platforms have increasingly followed suit in adopting the concept to the investing, via social trading, where people can interact and observe other traders, as well as follow or execute the strategies of more experienced peers.
Bitget launched One-Click Copy Trade in May 2020, which found massive popularity to the point of amassing over 27,000 professional traders, with approximately one million followers.
Copy-traders on the platform have earned over $1 billion in total income, according to figures provided by Bitget, which added that followers have collectively made over $1.56 billion.
Gracy Chen, Managing Director at Bitget, commented: “Social trading taps into our innate need for connection, whether that means sharing, celebrating or even commiserating in the company of others while we trade. Here at Bitget, our flagship offering, One-Click Copy Trade, is nothing short of a pioneer in social trading. Moreover, copy trading and grid trading light a path to the full potential of social trading, enabling users, KOLs and professional traders to exchange information freely, adopt multiple trading patterns and optimise strategies for their own benefit, and in the long-run, further strengthening the foundation of the Bitget ecosystem.”
Gracy Chen was recently appointed to the job of Managing Director, where she will be overseeing Bitget’s growth and expansion of global markets, strategy, execution, business and corporate development.
The newly added executive is expected to elevate the brand’s voice and presence in the broader crypto ecosystem and make it further flourish under her leadership.
Gracy Chen was named a Global Shaper by the World Economic Forum in 2015 and is pursuing an MBA degree at the Massachusetts Institute of Technology.
Bitget was founded in 2018 and serves over two million users in more than 50 countries around the world. Earlier this year, the firm announced its derivatives trading volume reached an all-time high of $8.69 billion, representing a 300% growth when compared to the previous year.
The crypto platform has recently introduced automated trading bots on its platform via a partnership with CryptoHero, the Singapore-based crypto derivatives exchange announced. CryptoHero provides various trading strategies through a simplified user-interface, while its Bots Marketplace also allows new users to familiarise with automated trading by using proven crypto bots created by experienced traders.
The firm has been very active in sports sponsorships, namely partnerships with leading football teams and esports associations including Juventus, Galatasaray, PGL and Team Spirit.
Bitget has included 171 trading pairs which also facilitated the growth over the last year and continues to drive new users and volumes thanks to its social platform One-Click Copy Trade.
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