In a recent episode of the podcast “Deconstruction,” Bitget’s CIS marketing manager, Liliya Malikova, shared insights into how crypto exchanges, including Bitget, are evolving into comprehensive financial platforms. This shift responds to increasing user demand and aims to streamline the financial experience, merging cryptocurrency trading with traditional finance (TradFi) tools.
Malikova explained that Bitget’s motivation for broadening its services stems from the necessity to keep users and their assets within one ecosystem, reducing the need for multiple applications. She noted that the CIS market, particularly, is seeing a shift in user expectations; many individuals who entered the crypto space a few years ago have matured, wanting diversified portfolios that extend beyond cryptocurrency.
The user demographic in the CIS region is particularly keen on new financial instruments as they seek a more broadened toolkit. Malikova remarked that traders from traditional brokerage platforms are also drawn to Bitget due to its high-tech features and user-friendly interface.
However, she acknowledged the challenges inherent in introducing conventional equities and indices to a crypto-savvy audience, which is accustomed to the volatility of memecoins and rapid returns. To combat this, Bitget reframes the conversation by positioning equities as complementary tools for navigating market downturns rather than replacements for cryptocurrency trading.
One of the innovative features of Bitget is the integration of MetaTrader 5 (MT5), aimed at attracting professional traders and enhancing user experience. This tool caters to those familiar with sophisticated trading algorithms, though Malikova cautioned that the transition from forex to crypto trading strategies is not yet straightforward due to the inherent differences in market behaviors.
Bitget has also introduced contracts for difference (CFDs), with gold, oil, and classic indices emerging as the most sought-after asset classes in the CIS region. While acknowledging the significant risks associated with CFDs, she emphasized the lower volatility of assets like gold, which can provide a safer alternative during bearish cycles.
Artificial intelligence (AI) is another area where Bitget is forging ahead. Malikova dispelled the myth that AI is a panacea for trading, clarifying that while it aids in decision-making and risk management, the onus remains on traders to understand risks. AI tools also support internal operations at Bitget, improving everything from content creation to customer support.
A notable feature discussed in the interview is GetClaw, an AI agent that enables users to manage their exchange accounts through Telegram without directly logging into the app. This innovative approach is seen as a potential future trend in the trading industry, streamlining user interaction with trading platforms.
The rise of prediction markets, where users can trade based on their sentiments rather than intricate analysis, has also sparked interest. Here, AI analytics play a critical role in filtering vast amounts of information, thus aiding users in making informed decisions.
Looking to the future, Bitget aims to capture a significant share of the traditional finance market by 2030. The vision involves creating an ideal user portfolio that balances stable assets like bitcoin and gold with riskier investments in altcoins, promoting resilience in financial strategies.
The discussion reflects an ambitious and evolving vision for cryptocurrency exchanges as they aim to blend the best elements of both crypto and traditional financial markets, paving the way for a new era of trading.
