- Summary:
- Bitget has announced mandatory KYC verification requirement for its users and has packaged a raft of incentives to encourage compliance.
Cryptocurrency exchange Bitget is moving to implement KYC requirements for all its EN users. Bitget has set December 15th as the deadline for compliance, and it promises users improved security and full compliance with all financial regulations. Ultimately, this is Bitget’s effort to improve user security and ensure compliance with global financial standards, which have come down particularly hard on the crypto ecosystem.
This represents a major step forward in Bitget’s objective to offer its consumers a safe and regulated trading platform. By implementing KYC requirements, Bitget says it will be able to further safeguard its users and combat financial crimes like money laundering.
The need for KYC and what’s in it for you
Implementing mandatory KYC will strengthen Bitget’s standing as a top-tier exchange and help it achieve its mission of serving cryptocurrency holders worldwide. Bitget is using a phased approach to the rollout to make it easier for customers to upgrade their accounts and ensure a smooth transition with minimal interruption. Verified users will enjoy benefits like getting access to exclusive Bitget events, increased withdrawal limits, and better security against theft and fraud.
The KYC criteria have been deliberately designed to minimise interruption while yet granting consumers access to a range of advanced services and privileges. The process just takes a few minutes to finish, and users receive confirmation soon after.
The implementation of the KYC requirements equips Bitget to create a safe platform for its users and align themselves with global financial regulations. This is critical to the realisation of the security and authenticity of all platform transactions.
Bitget is providing a variety of exclusive incentives to encourage user participation in the launch of its user verification programme. The first 5,000 users to complete the KYC verification process by December 15th, 2023 will receive up to 100 USDT in trading bonus. In addition, VIP users who do the same will be gifted 200-500. In addition, customers who fill out a brief KYC questionnaire will stand a chance to win 100 USDT and an iPhone 15 Pro.