Topic: What do you think about Bitget's Trade Smarter upgrade? (Read 159 times)

You have a valid point here but BGB only constitute 30.33% of the reserve which seems a bit healthy from your POV. Beside, its normal to have a sizeable reserve in exchange token cos most of them have utilities on the platform which obviously lead to increase in the demand. BNB is used for lanchpool, MX is used for their kickstarter and launchpad event while BGB has similar utilities on Bitget which includes Launchpool, launchpad and their super airdrop.

FTX saga was purely mismanagement of users fund owing to lack of transparency and accountability. Apart from the PoR few exchanges, notably Bitget, Binance and OKX have been working hard to ensure the safety of user assets by launching customer protection fund as another security layer guaranteeing the safety of users assets.

I guess all these efforts should be appreciated imho taking into cognizance the high risk of losing assets in this space.

It is not frozen, but if most of the platform's reserves are in its own currency, this means that the clients' money is on thin air. Just like what happened with FTX they took bitcoins from customers and calculated that they had millions of reserves in the form of their own currency which they later failed to sell.

YouTube and Google have accurate details about how this platform collapsed but as a general rule, stay away from any platform with a large reserve of their own coins.
This picture explains what I'm trying to say.


Source https://beincrypto.com/learn/ftx-collapse-explained/

Being the main foundation for trading is our own ability on how to manage crypto, carry out analysis and also use several tools or support systems that will make it easier to trade.
Does not justify the use of bots as a whole, but there must be control from the user as well so that what is set in the bot or what the bot produces can be as expected. The advice of others and some other suggestions should serve as a warning so you can integrate them with your own analysis. Wouldn't that be better than just rejecting whatever comes into your mind.

There's never a perfect trade as the market can be unpredictable, but yea Copy trading is a valid option especially for novice traders and it helps to know that Bitget is the biggest Copy trading exchange.

I must appreciate your opinion here but will like to know what amount to the 50% assets constitute what can be frozen cos I don't see BGB as a stablecoin. On the part of the Proof of reserve; I guess the imbalance at this material time should be temporary cos trading volume swings with the direction of the market and it is obviously not peculiar to only Bitget cos some top exchanges often have this similar state of reserve.

I will appreciate more insights.

He only needs trust his setup in order to avoid that feeling. He must backtest his strat many times to gain trust and to prove that it really works along with a proper risk management. Don't just jump to a trade and think that will always win without knowing what's the win rate of the strat. It's always good to journal all the trades to determine what price action that is really effective. And if he think he is not good at trading, it's prefer to copy trading. He only have to a choose the right trader in order to be profitable.

Bitget is still gaining audience, it is still being tested and we hope its new features with enables AI interaction, doesn't give issues because AI is still being studied.

The fact that Bitget is a centralized exchange, it is more focused on offering advanced trading options for experienced traders with also the inclusion or rather integration of AI to facilitate trade, Binance, offers an array  of services suited for retail users, professional traders and even institutional clients.

The upgrade is a great implementation to help trading decisions flexible enough, although I haven't tried using it, I have read some reviews about it and it has broadened my knowledge on exchanges to best trade with or make investment with.

If a trader feels this way with his trade then what are you going to do? What ways are you going to help out than to suggest your bots for him I guess so. Anyway, traders understand that trading is all about few losses here and there but more wins. If I have comparative analysis of trades and win is greater than loses, I should be okay with that and try to improve more because I don't believe in a perfect trade.

Sincerely, I think this is a very useful post to help traders because the market maybe be confusing at times and when there is a director, you will feel less stress and more comfortable trading


And since Ive joined them, I've been able to take advantage of thier features to make some profit in this current marketcap situation. You are on point.

The cryptocurrency market is highly volatile and high-risk, and it is difficult to say that it represents a model of financial security, except that if you take into account the worst scenario, for example, base your economic calculations on the fact that the price of Bitcoin is $10K, here we can generally say that you are safe.

The difference between the Bitcoin price and the safe range is very large, which means that you need to freeze a lot of funds before saying that you are safe from the fluctuations.

Bitget holds about 30.33% of its assets in its Bitget Token which is why stop BFT trading and swap your existing wallet balance's BFT token to BGB token at the ratio of BFT:BGB = 1:2

Source https://www.bitget.com/support/articles/4405314929549-Announcement-on-the-Upgrade-of-Bitget's-Platform-Token-BFT
https://coinmarketcap.com/exchanges/bitget/

BFT:BGB = 1:2 ratio is an indirect way to control and reduce liquidity.

Another 30% is in the form of stablecoin, and therefore more than 50% of its assets are assets that can be frozen with a central party, and the percentage of bitcoin they have is very small.

I am not a trader who will depend on what other gives to have my direction from or make use of a trading bot or uses any means of artificial intelligence support system to perform my trade because i needed to be deliberate with every of the actions of my trades and I don't think i can make more difference in using other support system  than myself, I've got to make use of the invested times I've spent while learning about trade to yield the required standard results needed for me, there's no hundred percent accurate in everything one will be receiving from external sources with trading experience than you doing it all alone.

There use of AI in trading has gained a lot of momentum lately and quite a good number of exchanges are beginning to allow the use of AI as a trading tool that can help their customers both newbies and except alike to help them trade smarter,  I have heard about an artificial intelligence trading tools that make up to 90% trading success and record loses only once a week and the remaining tldsys all becoming profits,  this has helped newbies to trade smartly and take profits,  compared to trading by self.

But more also we can't tell how long this trading success from AI will last,  since as you rightly said that exchanges are on constantly upgrading of their systems to meet up with current demands and AI as one of such may not have the upper hand in trading,  but what will help AI to succeed more in trading is one aspect that I noted earlier in one of my comment which is the trade vs who the other trader is.

In a sense that,  since trading is done by an individual that is to say when a trader needs to lose for another to gain,  so trading is between traders,  and the exchange make its revenue from the trading fees and other commission,  so at that exchange may not take any precise actions since AI activities don't affect their own commission.

Unlike in gambling where the gambler plays against the house in some cases,  so at that, the casino will try everything possible to keep AI or other bots' activities under check constantly.

Crypto space can create a pathway to financial security; however the vast nature of the space also means that beginners often get overwhelmed. The lingering limitations in the industry like insecurity, volatility, regulations, etc– haven’t smoothened their experiences either.

Nevermind these challenges, this space remains lucrative if properly harnessed and that explains why traders with decade-long experience are still active. So if you ever feel uncertain, overwhelmed or recorded a few losses, I'd love to know what you think.

Crypto exchanges contribute to a large extent the level of success every trader can reach, in terms of securing your funds, delivering you products for optimal trading experience and support generally. A fiercely competitive sector, it’s no surprise then that the best exchanges are steadily upgrading their services to stay ahead of the pack.

In light of that, Bitget has consistently integrated features that accommodate both beginners and experienced traders,  introducing Copy trading in 2020 (the novel top exchange to do so) a feature that allows beginners to emulate the trading techniques of the more experienced ones, rewarding both parties.

Five years on since its inception, the dynamism hasn’t waned, a new tagline has been adopted– “Trade Smarter”, with the same goal of delivering top-notch trading experience to all users; new AI technologies have been integrated, along with a streamlined interactive interface.

Doesn’t matter the challenges you face as a trader, the new Bitget promises you’ll trade smarter.