Never trade on Bitget, and don’t buy its platform currency BGB. Do you want to know why? Then please watch this video.
Bitget is an emerging exchange that has not been in operation for a long time. It was established in 2018 and had little success at first. However, it soon launched the order function, attracting many KOLs and fans to follow orders. Soon the number of users and trading volume increased rapidly. , gradually stood out from the third tier, and has recently stabilized in the second tier and is even about to enter the world's first tier exchanges. Recently it even signed Messi as its spokesperson, further increasing its influence and user base.
At first glance, there is nothing wrong with Bitget, but if you take a closer look, you will be shocked. First of all, Bitget will publish its reserve certificate every month. The reserve ratio of Bitcoin BTC is as high as 426%. Yes, you heard it right. The user assets are only 2849 Bitcoins, but it holds a total of 12140, which means that it still has 12,140 Bitcoins. There are 9291 of it's own. The reserve ratios of USDT and ETH also exceed 100%, at 117% and 141% respectively. The highest one is USDC, with only 6.45 million users, it holds a total of 165 million, and the reserve ratio is as high as 2556%.
Isn’t it a good thing that reserves are so high? Yes, it is not a good thing, and the problem is too serious. You know, the reserves of other well-known exchanges such as Binance OKX are generally around 103%, but how can Bitget make so much money after it has only been established for a few years? When something goes wrong, there must be a monster! Remember, when something goes wrong, there will always be a monster! Either Bitget’s user assets are far more than announced, or the Bitget team is actually super rich and just enjoys the joy of working when running the exchange! But I think any adult knows what the real situation is!
In addition, Bitget also provides a variety of financial products, and the number of options is dazzling. But there are actually products that guarantee a guaranteed annual return of up to 7%, and the limit per person is as high as 2 million US dollars. In addition, there are more non-capital-guaranteed financial management projects with annual returns of tens or even hundreds. Novices will definitely be happy and invest all their assets in it. But don’t forget that when you stare into the abyss, the abyss stares back into you. With such high-yield financial management and no loss guaranteed, where does the profit come from? Could it be that the profit is conjured out of thin air? When you covet its interest, what it covets is your principal. Maybe in the end, your principal will return to zero even if you don’t get the interest.
A gentleman should not stand behind a dangerous wall and lose his mind because of the candy traps set by others. Imagine the thunder of FTX last year and the thunder of JPEX in the past few months, and the A-network AOFEX and FCoin that ran away in the past few years. Wait, don't think you will be the lucky one, maybe the next victim will be you.
I am only born to protect the interests of retail investors and do not collude with the bankers to cut leeks. Welcome to follow me.
