What's Cooking at Bitget?
Bitget, this big-shot crypto exchange and Web3 company, has just dropped a Christmas promo with DuitNow. It runs from December 24, 2024, at 6 PM to January 7, 2025, at 6 PM (UTC+8). New users can hop on board and transfer assets with zero fees, plus they can snag a piece of a 50,000 BGB prize pool. This seems like a move to attract new users and give them a smooth ride through the trading world.
Who Can Get in on the Action?
This offer is exclusively for new users who haven’t played with DuitNow before. During this promo period, they can buy crypto assets in any amount using the third-party DuitNow payment method. Zero transaction fees are valid until December 31, 2024, at 6 PM (UTC+8). If you’re eligible, you get 1 BGB for completing your first third-party transaction during this time.
How Does Bitget Keep It Fair?
Bitget has set some rules to ensure things stay fair. You have to register through your main account with the registration button and complete ID verification. Only new users who make their first transactions through DuitNow can join in. No funny business like wash trading or self-dealing, or you’re out. Bitget can change or cancel the promo whenever they want, and they have the final say on the rules.
What Sets Bitget Apart?
Bitget was born in 2018 and has over 45 million users in 150+ countries. They’re all about helping their users trade smarter with cool features like copy trading. They give real-time access to Bitcoin, Ethereum, and other crypto prices. The Bitget Wallet is a multi-chain crypto wallet with all the bells and whistles for Web3.
They’re on a mission to push crypto into the mainstream with partnerships, like being the Official Crypto Partner of LALIGA in the EASTERN, SEA, and LATAM markets. They also support Turkish National athletes to inspire people to embrace cryptocurrency.
Do Zero-Fee Promotions Help Keep Users Around?
These zero-fee promos can be a big deal for keeping users on board. According to a Trust and Ramp Network case study, a "First Transaction Free" promo saw user retention rates double for those who participated compared to others. Monthly app opens shot up by 80% and DeFi investments went up by 35%. This suggests that these temporary promotions can pay off long-term in keeping users engaged.
What About the Regulatory Side in Latin America?
But, it’s not all smooth sailing. Latin America has its own regulatory headaches. Colombia’s crypto environment is decent but still a work in progress. The government wants exchanges to report user transactions and register Bitcoin transactions over $150, which can add to costs.
Uruguay’s got a new law that recognizes cryptocurrencies as virtual assets and gives the Central Bank the power to regulate them. This could make things clearer for exchanges.
Mexico calls cryptocurrencies “virtual assets,” and they need a permit to operate, which involves KYC checks. This can also complicate the zero-fee model because of compliance costs.
Even with challenges, exchanges like Bitfinex are rolling out zero-fee trading in Argentina, Colombia, and Venezuela. The success of this depends on how well they can deal with local regulations.
Wrapping Up
Bitget's Christmas promo is a sweet deal for new users looking to trade crypto with no fees and snag a share of 50,000 BGB. While these promos can help keep users around, Latin America's regulatory landscape brings its own challenges. Bitget seems to be geared up to offer a smooth trading experience despite the bumps in the road.
