Bitget Offers No-Deposit Bonus for KYC Verification
The latest strategy of Bitget involves providing a no-deposit bonus for KYC verification. KYC is an essential step for accessing all services offered by the crypto-exchange.
What Is KYC and Why Is It Important?
KYC, or Know-Your-Customer, is the first stage of due diligence in Anti-Money Laundering, and it helps determine the level of risk associated with a customer. Crypto-exchanges often require KYC to comply with AML regulations.
Advantages of KYC for Bitget
For Bitget and other crypto-exchanges, the advantages of KYC verification include a reduction in legal risk and a more whole lot of degree of trust from users. KYC can help protect customer accounts and reduce the risk of scams and money laundering.
Bitget Abandons VATP License
Regardless of its decision not to seek Hong Kong’s Virtual Asset Trading Platform license, Bitget will cease all its activities and invites its users to withdraw all assets from BitgetX before December 13, 2023.
Hot Take: Bitget’s Focus on KYC and The Abandonment of VATP License
Bitget emphasizes the importance of KYC verification by offering a no-deposit bonus to users. The move intends to strengthen the user identification process and make trading a more safe environment. Simultaneously, Bitget has decided not to seek Hong Kong’s VATP license, which has implications for its users and the platform’s operations overall.
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