Following its recent initiatives, global crypto platform Bitget recently launched another innovation. The firm unveiled Bitget Onchain, a new platform that merges the benefits of centralized (CEX) and decentralized exchanges (DEX).
What does Bitget Onchain do?
According to the media release, Bitget Onchain allows users with a spot account holding USDT or USDC to perform on-chain asset transactions directly within the Bitget app.
- Bitget highlighted that the integration provides an exchange-level trading experience without the usual complexity, making on-chain transactions easier for new traders.
- Initially, the platform will support Solana, BNB Smart Chain (BSC), and Base, with an initial selection of tokens, including RFC, KTA, and 30 others. The remaining tokens were not specified in the release.
“On-chain trading has long been riddled by complex set-ups, requiring users to navigate unfriendly interfaces and expose themselves to risks. Bitget Onchain was created to lower the barrier to entry, by providing a seamless and secure trading experience.”
Gracy Chen, CEO, Bitget
Chen also emphasized that it is designed to close the gap between centralized and decentralized trading, “making Web3 more accessible to all.”
Security Features
The firm emphasized that Bitget Onchain prioritizes security by implementing centralized exchange-level protection for on-chain trading. It also offers real-time access to a wide range of on-chain assets, including early-stage tokens, and provides regular updates.
In addition, Bitget Onchain was noted to use AI-driven smart screening to filter on-chain assets in real time, helping users reduce risk and make more strategic, data-informed investment decisions.
In its press release, Bitget stressed that it has consistently incorporated AI to boost trading accuracy, security and user experience.
- Its AI features include trading bots, risk management tools, market trend analytics, and copy trading.
- Accordingly, the firm noted that with Bitget Onchain, AI-driven smart screening further enhances asset selection and trading efficiency.
What are On-chain Transactions?
On-chain transactions occur directly on the blockchain. They offer high security, transparency and immutability by being recorded through consensus mechanisms like proof of work or proof of stake. These transactions are trustless and eliminate intermediaries but can be slower and more expensive due to scalability limitations.
Off-chain transactions, on the other hand, happen outside the main blockchain, offering faster and more cost-efficient alternatives. However, they may introduce additional complexity and potential security risks.
Recent Bitget Platform and Initiative Updates
- Recently, Bitget expressed plans to expand its PayFi initiative across key tourist destinations in the Philippines, starting with Palawan, La Union, Dumaguete and Boracay, following the successful launch in Siargao, where some local businesses began accepting crypto payments.
- In a statement, Bitget’s Chief Legal Officer Hon Ng affirmed the company’s commitment to regulatory compliance, revealing that Bitget now holds more than eight licenses across key markets and is actively seeking more.
- In March, Bitget Wallet launched a $1 million BGB on-chain staking pool with a fixed 5% APY, aimed at boosting BGB’s role in decentralized finance by offering users a secure, self-custodial way to earn passive income.
This article is published on BitPinas: Bitget Onchain Launched for Early Access to On-chain Assets
What else is happening in Crypto Philippines and beyond?
