Bitget Launches P2P Security Layer ‘Shield’ to Ensure Safety and Mitigate Users’ Losses

By Investor Empires On Aug 27, 2024

VICTORIA, Seychelles, August 26, 2024 (GLOBE NEWSWIRE) — PetgettThe world’s leading cryptocurrency exchange has announced the launch of its P2P Shield security layer, which increases security within P2P trading. This new layer aims to ensure user trust and the reliability of the platform from fraudulent activities that can occur in P2P transactions.

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Bitget P2P Shield provides financial protection to users who fall victim to peer-to-peer settlement fraud. In such cases, users are guaranteed compensation to mitigate losses directly related to the platform’s operations. This feature aims to build trust among users, ensuring a more confident trading experience.

P2P Shield is an addition to Bitget’s security layer that features: $300 million protection fund And transparent Proof of reservesThe introduction of Bitget P2P Shield demonstrates the platform’s focus on creating a safer environment for peer-to-peer trading. By addressing potential risks, Bitget aims to cement its position as a trusted player in the crypto space.

In order to prevent peer-to-peer fraud, it is important for users to verify payment deposits before issuing cryptocurrencies, and mark payments as completed. Additionally, traders should avoid canceling orders after payment and refrain from sharing personal details during trades. Unverified communications should not be trusted and users should ensure that the sender’s name matches their KYC details, and only trade within the platform to stay safe.

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It is important to note that the Shield program only covers platform-related issues. We urge users to be cautious and vigilant, as losses resulting from user-related errors, such as failure to verify payments or trading with untrusted parties, are not covered.

As a major fiat-to-crypto conversion channel, Bitget P2P now supports nearly 70 fiat currencies including EUR, NGN, and BRL. To facilitate payments, it has added over 30 payment methods such as Volet.com (formerly Advcash), Revolut, and bank transfer.

For more information about P2P Shield, please visit the official announcement. here.

About Bitget

Founded in 2018, Bitget is the world’s leading Cryptocurrency Exchange Web3 Inc. Serving over 30 million users in over 100 countries and regions, Bitget Exchange is committed to helping users trade smarter with its industry-leading copy trading feature and other trading solutions. Formerly known as BitKeep, BitGate Wallet Bitget is a world-class multi-chain crypto wallet offering a suite of comprehensive Web3 solutions and features including wallet functionality, swapping, NFT marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto by collaborating with trusted partners, including legendary Argentine soccer player Lionel Messi and Turkish national athletes Buse Tosun Çavuşoğlu (world wrestling champion), Samet Gümüş (gold medalist in boxing), and İlkin Aydın (national volleyball team).