Bitget Advances Crypto Security with MPC Technology Upgrade

<p>The cryptocurrency
exchange Bitget has enhanced the security of its platform wallets through an
upgrade to Multi-Party Computation (MPC) technology. MPC aims to boost wallet
protections using distributed computing, homomorphic encryption, and a Trusted
Execution Environment (TEE).</p><p>Bitget Upgrades Wallets
with Advanced Security Technology</p><p>The
technology implemented by Bitget works by dividing private keys into segments
across multiple servers. Transactions can then occur without keys being
revealed in one place. TEE also provides hardware-level security to fortify the
wallet infrastructure. The upgrade
follows Bitget's ongoing efforts to implement new security solutions. The
company previously <a href="https://www.financemagnates.com/cryptocurrency/bitget-announces-support-and-development-plan-for-bitcoin-ecosystem/">launched
an MPC-enhanced wallet</a> to protect users' digital assets.</p><p>“The
upgrade of MPC technology into our wallet is a testament to our commitment to
providing a secure and reliable platform,” said Gracy Chen, the Managing
Director at Biget. Chen added
the exchange wants to continue adopting innovative technologies to keep the
platform secure and reliable. </p><p>Bitget Unveils New Smart
Copy and Smart Money Modes</p><p>The crypto
<a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> has been actively enhancing its offerings with several major updates
over the past year. In 2023, Bitget introduced an upgraded copy trading system
<a href="https://www.financemagnates.com/cryptocurrency/bitget-unveils-new-smart-copy-mode-to-help-novice-crypto-traders/" target="_blank" rel="follow">called "Smart Copy Mode"</a> that enables users to allocate investments
and execute trades based on their total assets rather than a fixed amount. This
new feature aims to help novice traders invest more strategically by
simplifying the copy trading process.</p><p>Additionally,
Bitget Wallet, formerly known as BitKeep, launched an artificial
intelligence-powered <a href="https://www.financemagnates.com/cryptocurrency/bitget-wallet-unveils-ai-tool-to-spot-crypto-whales/" target="_blank" rel="follow">"Smart Money" tool</a> that tracks over 6,000
high-performing crypto addresses to identify potential signals and trends. According to Bitget Wallet's COO, Alvin Kan, the goal is to "empower users to preemptively discern market trends, promptly uncover investment opportunities, and consequently bridge the gap between ordinary investors and Smart Money."</p><p>This wallet
summarized a transformative 2023, during which it underwent rebranding and
exceeded 12 million global users. According to Bitget's 2024 report, the
previous year <a href="https://www.financemagnates.com/cryptocurrency/bitget-marks-2023-end-with-94-jump-in-spot-volumes-and-12-million-new-users/" target="_blank" rel="follow">saw an increase of 94% </a>in crypto spot trading volumes on the exchange.</p><p>The user
base also more than doubled from 8 million to 20 million users. With over 1,500
employees currently, Bitget has significantly expanded its team to support growth.</p><p>A Fraud Survey</p><p>We invite you to participate in our joint survey conducted by FXStreet and Finance Magnates Group, which explores prevalent online financial fraud types, platforms used for fraudulent activities, effectiveness of countermeasures, and challenges faced by companies in tackling such fraud. Your valuable insights will help inform future strategies and resource allocation in combating financial fraud.</p><p>Social Media Scams: Help Shape the Fight with Your <a href="https://www.financemagnates.com/forex/social-media-scams-help-shape-the-fight-with-your-2024-survey-participation/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable" title="https://www.financemagnates.com/forex/social-media-scams-help-shape-the-fight-with-your-2024-survey-participation/" data-linkindex="0" data-ogsc="">2024 Survey Participation.</a></p>

This article was written by Damian Chmiel at www.financemagnates.com.