Mandatory Authentication Period Begins to Improve Transaction Security on Cryptocurrency Platform Bitget

world leading crypto derivatives and Copy Trade platform Bitget; continues to increase its measures to ensure that its users carry out transactions safely.

The company launched the identity verification system as of September 1. KYC (Know Your Customer) It aims to both increase the transaction security of users and prevent money laundering and financing of illegal activities.

KYC, which allows users to log in to the system by identifying their identities, started to be enforced as mandatory for all new Bitget users as of September 1, 2023. Bitget, which is among the top five crypto money platforms in the world, takes its reliable transaction environment to the next level thanks to KYC, where its users can register in just a few minutes.

It is aimed to prevent money laundering and financing of illegal activities in accordance with global and regional financial regulations by analyzing the risk profiles of customers through the identity profiles defined by KYC, which aims to increase the security compliance of the processors on the Bitget exchange.

Bitget Manager Gracy Chen“Bitget is increasing its security requirements every day to protect its users. We believe KYC will strengthen user security and reduce the risk of breaches. As a comprehensive financial services platform, KYC complies with the standard financial legislation we must follow in our service. In this way, we strengthen our commitment to provide a safe trading environment for our loyal customers by verifying the identities of users.”

Transaction Limits of Users Not Registered with KYC Will Be Restricted

Bitget’s KYC application is divided into Level 1 and Level 2. Starting September 1, all new users must complete level 1 KYC verification to access Bitget services, while existing users must complete their registration by October 1 at the latest. Level 2 authentication is available to users who complete Level 1.

Those who did not complete the identity verification process before October; will only have the options to withdraw funds, cancel orders, redeem subscriptions and close positions and will be subject to restrictions for new trades. Users who complete their KYC verification will continue to have secure access to all services such as earning, spot trading, futures, trade copying and initiation.

Demonstrating its commitment to providing reliable service with KYC compliance, Bitget is currently registered with a Virtual Asset Service Provider in Poland and has completed similar procedures in Lithuania. Bitget plans to take new steps in the coming period to ensure the security of its users around the world.

Detailed information about Bitget’s KYC application can be found at www.bitget.com/tr/academy/your-quick-guide-to-kyc-on-bitget.