Bitget, a top 15 cryptocurrency exchange, is seeking to expand its operations in Latin America, a market traditionally dominated by incumbents like Binance and Bitso. Maximiliano Hinz, Bitget’s growth director for Latam, believes that the exchange can differentiate by focusing on serving beginner investors with tools like its copy-trading feature.
Bitget Aims to Gain Traction in Latin America
Bitget, a Seychelles-based cryptocurrency exchange, is preparing to expand its influence and operations in Latam. The company, part of the top 15 largest cryptocurrency exchanges, will focus on expanding in the region by targeting beginners in the field, offering tools that ease the handling of portfolios and investments for the less crypto-savvy.
Read More: Latam Insights: El Salvador Strengthens Bitcoin Support from Omnibus Bill
Maximiliano Hinz, growth lead of Bitget for Latam, believes that copy-trading, a feature that allows users to mimic the trading movements of more seasoned investors using a part of their portfolio, can be the key to this plan. For Hinz, this can be a differentiating factor in facing the leading exchanges in the region, like Binance and Bitso, which have also tailored specific solutions for Latam markets.
In an interview with Valor Economico, Hinz stated:
We want to offer an alternative. Today, you either buy crypto for the long term or you need to be an expert. Most of the people who trade on our platform are not full-time traders, they have jobs.
The exchange is also prepared to face a new wave of cryptocurrency regulation expected to reach Latam markets this year. Brazil, one of Latam’s largest and most relevant cryptocurrency markets, is preparing to establish a framework defining the rules that virtual asset service providers (VASPs) must follow to operate.
Regarding compliance, Hinz declared that everything that can be done to protect investors is relevant and must be done without stifling innovation. Bitget plans to double its employee headcount in Latam from 80 to 160 in the next two years. It is also on the verge of launching its cryptocurrency debit card, which is being tested by influencers and insiders and should be ready to launch in all regions in a short time.
Source: Bitcoin
