Bitget Introduces 'Shield,' A P2P Protective Feature, To Enhance Security And Reduce User Losses

Bitget Introduces ‘Shield,’ a P2P Protective Feature, to Enhance Security and Reduce User Losses

Bitget Introduces New P2P Security Feature 'Shield' For Enhanced User Protection

VICTORIA, Seychelles, Aug. 26, 2024 (GLOBE NEWSWIRE) —

Bitget
, a premier cryptocurrency exchange, has unveiled its P2P security feature Shield. This advanced layer is designed to enhance safety on its peer-to-peer (P2P) trading platform, fostering user confidence by shielding them against fraudulent P2P activities.

Bitget’s P2P Shield program provides monetary reassurance for users defrauded during peer settlements, offering restitution for any losses that result from interactions within the platform. The initiative underlines Bitget’s commitment to secure trading experiences for its clientele.

As a part of Bitget’s multifaceted security system that features a

$300M Protection Fund
and an open

Proof-of-Reserves
, the newly introduced Bitget P2P Shield signals the exchange’s commitment to a safer P2P transaction environment. This is a step to mitigate risks and fortify its reputable status in the cryptocurrency sector.

To avoid P2P scams, it’s critical for users to confirm payment deposits before releasing crypto assets, and correctly report completed transactions. It’s also advised against canceling orders after payment, revealing personal details during trades, or heeding unverified communications. For a secure trading environment, users should ensure the sender’s name aligns with the provided KYC information, and conduct all trades exclusively on the Bitget platform.

It’s notable that the Shield initiative is limited to protecting against platform-specific issues. Although users are urged to stay cautious and vigilant at all times, the program does not cover losses incurred due to user oversight or transactions conducted with suspicious entities.

Bitget P2P marketplace now courteously facilitates trading in nearly 70 fiat currencies, including the EUR, NGN, and BRL, and supports more than 30 payment methods such as Volet.com (previously Advcash), Revolut, and Bank Transfer to simplify the payment process.

For a detailed understanding of the P2P Shield, interested parties can access the official announcement

here
.

About Bitget

Founded in 2018, Bitget is globally recognized as a top-tier

cryptocurrency exchange
and Web3 innovator, boasting an extensive user base that spans over 30 million across more than 100 countries. Bitget stands out for enabling smarter trading via cutting-edge features such as copy trading among others. The formerly named BitKeep,

Bitget Wallet
is a secure multi-chain crypto wallet offering robust Web3 capabilities like wallet services, swap, an NFT Marketplace, a DApp browser, and more. The exchange fosters cryptocurrency adoption through strategic partnerships and endorsements from prominent figures, such as the legendary football star Lionel Messi and high-profile athletes from Turkey including Buse Tosun Çavuşoğlu (Wrestling World Champion), Samet Gümüş (Boxing Gold Medalist), and İlkin Aydın (Volleyball National Team).