During the bear market, the company also has the opportunity to shift its focus from making money to indigenous innovation. In this case, 2022 seriously endangers the password market scourge-from King Luna to the collapse of ℃ and its FTX-sets out an important definition: trust must be acquired, but trust is not easy to get.

A healthy industry and robust business architecture will always form a winning way of fierce competition and rapid growth of the user base. Some companies thrive in such an exciting environment in 2022 because they have the strength and judgment to apply fair standards that other companies cannot provide to their customer base.

When the market share of larger exchanges such as Binance and OKX has declined, Bitget, the leading cryptographic derivatives service platform, has seen a big increase in the market share of derivatives. Bitget's market share rose from 3 per cent to 11 per cent, making it the third-largest derivatives exchange by volume after the collapse of FTX.

In 2022, the key reward is dedicated to user protection and security enterprises. Recognition of the password industry must be rebuilt, and three simple lessons from the recent collapse of the industry can help companies grow rapidly in the near future:

1. Assuring a customer that his assets are readily available will go a long way in providing a healthy and successful business model. Users must feel protected before they can store their property on a piece of software and firmly believe that his project investment is safe and in his hands all the time.
2. The customer's position should always be the focus of every business decision, because users will be loyal to the enterprise that has their rights and interests in mind, and can provide real test cases that are beneficial to them.
3. Companies that value retail users as much as institutions and VIP customers provide a better code of ethics than the greed scheme approved by companies that collapsed in 2022.

Withstood the cold wind of the secret winter.

Under this premise, some companies have developed and developed rapidly to solve the tests that follow, and Bitget is one of them. The password derivatives exchange has built its own elite team, well-known brands and businesses in the cruelest password winter in the industry's memory, and has become one of the fastest-growing password exchanges in the world.

Bitget accelerated over-budget expansion with the first introduction of a worldwide Web3 service project with Defi elements in 2022. So far, the company has provided services to more than 8 million yuan users in more than 100 countries and regions.

Actively working with Lionel Messi Ronaldo as an exclusive password swap partner, the 2022 World Cup marks the pinnacle of a fruitful year for Bitget. The partnership provides a good opportunity for the Paris Saint-Germain and Argentine star fans to explore the potential of Web3 and payment digital currency.

According to the design, Bitget develops a business operation model that takes full account of user maintenance and security, which well increases the user base of retail customers.

The release of a $300m maintenance stock fund allows Bitget to maintain customer withdrawals in an emergency. In addition, the transparent color Merkle Tree risk reserve confirms that tracking web pages is updated every month, ensuring a minimum one-to-one customer asset savings rate. The latest backup confirms that the snapshot update shows that as of December 31, 2022, the ratio of important dynamic passwords to user property of BTC is 650%, dint USDT is 185%, dint ETH is 237%.

In 2023, Bitget showed no signs of slowing down. The exchange became the first CEX to issue spot trading copies to buy and sell functionality in the first month of this year, and reached an all-time high in February because of its original ecological token (BGB).

Although the password industry has not subsided after a tumultuous year, the total number of active users, new wallet addresses, Defi locks and locks are expected to rise sharply again in 2023. Forward-looking participants and builders like Bitget have laid a solid foundation for the process of rebuilding trust in the cryptographic industry for many months to come.