General News
Bitget Aims to Transform the Way People Connect and Trade with Social Trading
Bitget, the world’s leading social trading and copy trading platform, has always placed product innovation at the core of its focus.
As social media and messenger platforms become an integral part of people’s lives, be it professional or personal, there is no reason why crypto investment should not be incorporated.
Social trading allows people to interact and observe other traders, as well as follow or execute the strategies of more experienced peers. Social trading also maximises one’s own trading potential with a little help from someone more experienced.
That said, a platform cannot realise social trading in its entirety until product innovation becomes the guiding principle of its design and development, and until it has many users to attest to the transformative power of social connection.
Founded in 2018, Bitget, the world’s leading social trading and copy trading platform, provides services to more than 2 million users in 50 countries worldwide.
The average daily trading volume of Bitget has reached $7 billion, consequently ranking the platform fifth globally.
At present, Bitget has developed into one of the largest social tradings and copy trading platforms in the world.
Listed by CoinMarketCap as the leading crypto derivatives trading platform, Bitget is valued at more than $3 billion.
Product innovation is a guiding principle at Bitget, proven most meaningfully through its flagship product, One-Click Copy Trade.
Since its launch in May 2020, One-Click Copy Trade has broken the mould of trading patterns in the crypto market, bridging the gap between traders from all corners of the world, in addition to elite traders and their fans.
Thus, a social trading pattern has been forged into Bitget’s core, where followers and traders can interact without boundaries and carve their own interconnected path to financial freedom.
To date, Bitget’s One-Click Copy Trade has amassed over 27,000 professional traders, with approximately one million followers. Moreover, copy-traders on the platform have earned over $1 billion in total income, while followers have collectively made over $1.56 billion.
Adhering closely to the concept of social trading, Bitget will work towards an open strategy platform in 2022. The first step is to launch grid trading, a type of quantitative trading strategy designed to maximise returns in a range-bound market.
A user simply sets a price range for the automated trading bot, adjusts how many grids they want, and, as long as the price stays within one’s set range and depending on the setup, the bot will sell a portion when the price goes up or buy a portion when it goes incrementally down.
Commenting on the latest development of social trading, Managing Director of Bitget, Gracy Chen said, “From social media to social messenger to social trading, crypto is finally connecting to the social.
“The model taps into our innate need for connection, whether that means sharing, celebrating, or even commiserating in the company of others while we trade.
“Here at Bitget, our flagship offering, One-Click Copy Trade, is nothing short of a pioneer in social trading. Moreover, copy trading and grid trading light a path to the full potential of social trading, enabling users, KOLs, and professional traders to exchange information freely, adopt multiple trading patterns and optimise strategies for their own benefit, and in the long run, further strengthening the foundation of the Bitget ecosystem.”
Chen continued to add, “Looking ahead, Bitget’s open strategy platform will launch more products that fit the model of social trading in due course. We look forward to our users experiencing the fun and transformative potential of social trading on Bitget.”
Federal government has temporarily suspended the controversial annual dues imposed on public interest enterprises by the Financial Reporting Council (FRC) after fierce opposition from businesses.
Jumoke Oduwole, minister, Industry, Trade, and Investment, announced the decision during a Ministerial Consultative Meeting in Abuja on Wednesday.
The move follows mounting pressure from private sector groups, including the Nigeria Employers’ Consultative Association (NECA) and the Manufacturers Association of Nigeria (MAN), who slammed the Financial Reporting Council (Amendment) Act 2023 for burdening companies with excessive fees.
The Act mandates cumulative annual charges for non-listed entities and imposes a harsh 10% monthly penalty on unpaid dues, compounding until full payment, a provision that sparked widespread backlash.
At the meeting, major industry players like NECA, MAN, the Nigerian Association of Chambers of Commerce (NACCIMA), oil producers, and telecom operators warned that the fees would cripple businesses already struggling in a tough economy.
Oduwole clarified the suspension, stating, “The government has decided to direct the Financial Reporting Council to pause in the implementation of the new annual dues. You know that I am a lawyer, and a suspension request by the organised private sector would be in contravention of legislation duly passed by the National Assembly. A pause is an administrative process simply to review, in line with what we discussed today.”
She assured stakeholders that the halt would last no longer than 60 days, with a technical working group—including FRC officials and private sector representatives—set up to reassess the policy.
“We are a listening administration. The private sector has requested a range from three months to an indefinite suspension. We are not going to do that. So, at the most, 60 days is in my estimate. We are going to set up a technical working group comprised of the FRC and the organised private sector who have formally written in, and this will be reviewed,” Oduwole emphasized.
The Standards Organisation of Nigeria (SON) says it is intensifying efforts to standardise locally manufactured products, including Made-in-Aba brands, in order to enhance both local and international acceptance.
Aharanwa Chuks, Director of Region (South East), SON, communicated this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.
Chuks said through the Mandatory Conformity Assessment Programme (MANCAP), SON ensured that all Nigerian-made products conformed to the relevant Nigerian Industrial Standards (NIS).
According to him, MANCAP involves direct engagement with manufacturers to certify that their products meet established quality benchmarks.
“This process includes inspecting production facilities, sampling products and testing them against NIS requirements.
“Successful compliance results in the issuance of the MANCAP certification, signifying adherence to quality standards.
“In Aba, SON has been proactive in educating manufacturers about standardization.’’
The director said SON also conducted stakeholder interactions; gathering manufacturers from various sectors to provide guidance on producing goods that met both local and international standards.
“For instance, leather manufacturers in Aba have been sensitized on standardization practices to enhance the global competitiveness of their products.
“Manufacturers are encouraged to collaborate with SON to obtain MANCAP certification, ensuring their products are not only marketable within Nigeria but also competitive internationally.
“This initiative aims to boost consumer confidence and promote the acceptance of Made-in-Aba products globally,” Chuks said.
Operatives of the Economic and Financial Crimes Commission (EFCC), has busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja.
They were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.
The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns.
The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and brainwashed to believe that they would graduate into the league of billionaires.
They got into the training by obtaining a form the promoters called “Independent Representative Application Form” with promotional slogans such as: “I’m a Champion” “I’m Unstoppable”, “I’m Infinity”, among others.
The EFCC carried out the operation in collaboration with officers and men of 176 Guards Battalion, Nigerian Army.
Items recovered from the suspects include phones, computers and other electronic gadgets.
They will be charged to court as soon as investigations are concluded.
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