CRYPTOCURRENCY exchange and Web3 company, Bitget, has been recognized by Forbes as one of the world’s most trusted crypto exchanges, debuting at eighth place in their latest rankings of digital asset platforms.
This marks Bitget’s first appearance on the prestigious list, which evaluates global cryptocurrency platforms based on several key criteria, including regulation, transparency, and audit strength. Forbes highlighted the crypto exchange’s robust security measures, citing its transparent proof of reserves, which ensures 100 percent asset backing, and its $600 million Protection Fund designed to safeguard users.
Bitget’s high ranking comes on the heels of substantial growth in both its user base and trading activity. A recent transparency report released by the exchange revealed a remarkable 400 surge in users throughout 2024, culminating in a total of over 100 million users by December. This rapid expansion is further underscored by exponential growth in spot trading volume, which jumped from $160 billion in the first quarter of 2024 to an impressive $600 billion by the fourth quarter.
The crypto company has also made significant inroads in the Philippines, establishing itself as a trusted exchange for local crypto investors seeking a secure and transparent trading platform. Recognizing the growing interest in digital assets within the country, Bitget provides Filipino users with seamless access to crypto trading through localized services tailored to their specific needs. The platform’s support for peso transactions eliminates the complexities of currency conversions, making crypto investments more accessible. It offers round-the-clock customer support in Tagalog and has launched extensive educational initiatives, contributing to its growing popularity within the Philippine crypto community.
The company has aligned itself with industry leaders like Coinbase, Binance, and Robinhood. With the addition of Hon NG as Chief Legal Officer, Bitget has demonstrated a strong commitment to compliance. Recently, the exchange secured UK approval, obtained a BSP license in El Salvador, and launched a new exchange in Vietnam, operating in accordance with local regulatory requirements.
“Our collaboration with Turkish national athletes and legendary football league LALIGA as well as getting multiple licenses and onboarding new chiefs in the company all contributed to Bitget’s success of positioning itself as the second largest crypto exchange ecosystem,” said Vugar Usi Zade, COO at Bitget.
According to a report from CCData, Bitget’s market share rose to 4.25 percent, surpassing its previous all-time high recorded in April 2024. The Bitget Token (BGB) has also seen significant growth. Previously, BGB was recognized by Forbes as one of the top 10 best-performing cryptocurrencies for the first half of 2024.
Since then, BGB has exceeded expectations, experiencing a surge of over 1000 percent last year. Bitget plans to further enhance the token’s utility and expand its real-world applications by reducing its supply, which aims to drive sustainable growth and long-term value for BGB holders.
