Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the launch of a new trading product called the Spot P2P Market. The instrument will allow users to get early access to tokens that have not been listed on major centralized exchanges.
Bitget is the first major centralized exchange to launch the Spot P2P Market, featuring three tokens– DeFi project ORCA, BRC-20 token BTCS, and the Depin project DIMO, supported in the initial version. Users who have minted BRC-20 tokens via Bitget Wallet or other platforms can then transfer the assets to Bitget for subsequent trading in the Spot P2P Market.
Bitget has also stated that the new product will eventually grow to support more tokens in the future. Such a measure is intended to provide necessary assistance for potential projects that do not fulfill the listing demands of centralized exchanges but are of interest to users in the market. The step is in line with Bitget’s core values that aim to advance the availability and adoption of promising decentralized services and their value carriers on the blockchain.
“This is a product that is basically meant to facilitate interaction and trades between users who are interested in some early-stage but promising tokens. Spot P2P Market will essentially bring such tokens out into the open onto centralized exchanges and out of the domain of shady platforms, dubious P2Ps, and other unreliable means.” as Gracy Chen, the Managing Director of Bitget, commented on the release.
Among Bitget’s Spot P2P Market’s most significant competitive advantages is its higher usability and flexibility in contrast to BRC-20 tokens trading offered by decentralized marketplaces. Specifically, the platform allows users to divide their BRC-20 inscriptions into multiple sell orders and enables faster transactions, all conducted within a centralized exchange.
The Bitget exchange released a number of innovative products in 2023 and has announced that it will maintain a comparable level of traction in 2024, with the Spot P2P Market being the first in a long line of upcoming launches. The exchange also intends to adhere to its core values and advance the use of digital assets, as well as the penetration of Web3.
