Bitget guarantees it will hold 100% of users' assets in reserves
Bitget
Bitget guarantees it will hold 100% of users' assets in reserves and will publish its Merkle Tree proof, platform reserves, and platform reserve ratio on a monthly basis
Reserve ratio = funds in the platform/funds of platform users. A reserve ratio greater than or equal to 100% means that the platform has sufficient funds.
What is proof of reserves?
'Proof of reserves' refers to an auditing procedure that is verifiable through cryptographic proofs, checks of public wallet ownerships, and recurring audits to certify the holdings of an exchange. The custodian provides transparency and proof of the existence of on-chain reserves and that the total amounts of those coins held and effectively at the disposal of the platform exceeds or is equal to the sum of all users' holdings of those coins.
To achieve this, Bitget stores the hash of each user's account assets in a leaf node on the Merkle tree. Each user can verify that their funds are included in the Merkle tree by checking the total amount of users' assets stored in the Merkle tree leaf nodes.
If the total amount verified is greater than or equal to 100%, then the platform has proven that users' funds are indeed intact.
The open source code of the platform's proof of its 100% solvency program has been published to GitHub.
See for yourself
We are committed to maximum transparency
Bitget's principles are meant to prioritize our users. To ensure the verifiable safety of our users' assets, we will be fully transparent with all our platform's assets.
1. Take snapshots monthly and publish all wallet assets of the platform.
2. Take snapshots of each user's assets monthly and desensitize for publication.
3. Users can verify their assets in a few simple steps.
2023-06-20
Recommended
BitgetKCGI 2023: share poster to get Bitget merch and 100 BGB KCGI 2023 will start in August! The early bird rewards are underway. Share the KCGI poster and you will receive Bitget Merch + 100 BGB! Limited to the first 100, first come first served. ⏰ Promotion period: July 31, 18:00 – August 11, 23:59 (UTC+8) Share the poster and upload UID and screenshot proof to the form (click here to upload) Reward rules: You must 1. Complete your KYC verification and 2. Participate with your main account to get the rewards. Token rewards will be2023-07-31
BitgetDeposit and trade to split $15,500 worth of X and 30,000 USDT! We're holding a 72-Hours Rewards event. Deposit and trade to split $15,500 worth of X and 30,000 USDT! Rewards are limited. Join now！ ⏰ Promotion duration: August 1, 18:00 - August 4, 18:00 (UTC+8） Promotion 1: Deposit and trade to split $15,500 worth of X 1) Deposit rewards Deposit X to get a 5% rebate on your net deposit amount, capped at 2,500,000 X per user. Total prize: $10,000 worth of X 2) Trade rewards Users will be eligible for rewards by completing X/USDT spot trades (u2023-08-01
BitgetJoin the Lucky Draw promotion to win a DJI drone and 5 ETH Bitget is holding a Lucky Draw promotion! Register to draw from a prize pool of 5 ETH and a DJI drone! Rewards are limited, so don't miss out! ⏰ Promotion period: August 2 – August 16 (UTC+8) 🎁 Rewards: A DJI drone, 5 ETH, 8% deposit rebate (up to 100 USDT), lucky cards (redeem 3 cards for 10 USDT), 20 USDT in trading bonuses, 1 USDT in trading bonus, 3 BGB, 10 XRP 🏆 Participation rules: Obtain lucky draws by completing tasks. The more lucky draws you have, the more rewards you2023-08-02
