A Letter from Gracy: Three Stories of Bitget's "Growth Against the Odds"
Gracy
A few weeks ago I was sitting on a hotel balcony in Japan, looking up at the great Mount Fuji and trying to concentrate on my phone call with one of Bitget’s founders. He was telling me about an annoying conversation he’d recently had, when he said something that made me smile and think,
I LOVE working at Bitget.
The person he’d been speaking to was trying to suck up to him, and he said, “What this guy didn’t understand is that no one has that many spectators. Truly strong people are always met with mixed reviews, so being a people-pleaser is ultimately useless. Focus on results and goals and don’t worry too much about what other people think of you.”
This year, Bitget turns six years old. This marks my third anniversary with Bitget and my first as CEO and what I have loved throughout is what I believe makes us outstanding in our industry: our consistent and powerful focus on results.
From Managing Director to CEO, I have witnessed Bitget repeatedly rise through challenging times. In our internal meetings, we even joke about Bitget never having "enjoyed the industry's windfalls," given that we missed the ICO boom in 2017, the DeFi Summer of 2021, and the inscription season of 2023.
It turns out, that doesn't matter. What matters is our persistence, hard-work, strategic approach, and innovation. These qualities have driven Bitget to become a top-four crypto exchange by volume and attracting over 45 million users globally.
On a personal level, I feel a profound connection to Bitget. As the parent of a six year old, I see so many parallels to mothering: I came to Bitget when it was more than three years old, and for two and half years I’ve collaborated with the management team to drive the company's global strategy, which has led to a significant growth in the company's user base, propelling total transaction volume and overall strength into the ranks of leading global exchanges. I know that, other than our founding team, I care about Bitget more than anyone else! And I’m so excited to be at the helm for our next chapter.
When it comes to the team we have at Bitget, I admire them not just for their skills — we’re lucky enough to have a huge pool of talent — but also for the ways they’re constantly improving themselves and taking the initiative. We give our managers a lot of freedom. But as we always tell them, “with great freedom comes great responsibility”. A culture like ours allows people to thrive who have the same values as we do: they are results-driven, self-motivated and innovative on the front-lines. Smart decisions aren’t based on what the head office thinks is a good idea. They’re based on each team's personal experience and knowledge. This attitude has driven the incredible growth we’ve experienced at Bitget.
Because it’s our 1,500 Bitget team members that have propelled our accomplishments, on this special occasion of our sixth anniversary, I want to share with you some of their stories.
Story 1: The Recovered $50,000
One day at work, Arman got an alarming email.
Once a star in customer service at a top exchange, Arman had been impressed by Bitget's culture and joined our customer service team in 2023. His role is not just solving minor issues but handling significant challenges too. When this user wrote to say, “I’m missing $50,000!” Arman leapt to the challenge.
He learned that this user had invested in crypto for less than three months and had recently deposited ETH without it arriving for over 12 hours. He checked the blockchain explorer, found the gas fees low and the network not congested, and so contacted tech support through the user's UID.
It turned out the user had selected the wrong blockchain network for the deposit. After ensuring the funds were safe, Arman facilitated a refund request, successfully recovering the $50,000, much to the user’s relief.
Arman is part of Bitget's 170-member customer service team. In 2024, the team has already handled 1.5 million customer service demands with an average response time of 2.5 minutes.
They have also helped users recover nearly $1 million in crypto assets lost due to unfamiliarity with blockchain operations.
Story 2: Breaking The Mold With Product Redesign
As Jiren’s meeting went on, his chest felt tight. This was not what he’d expected.
A product expert, Jiren had worked in digital advertising, esports and had been a product leader at a well-known e-commerce platform. But when more and more of his friends began entering the Web3 industry, he developed a strong interest in crypto. At the end of 2022, Jiren joined Bitget as a product manager.
His first project was to redesign a product that had been launched two years ago. Based on past experience, Jiren started with research. Within a week, he spoke with 12 relevant individuals, ranging from internal colleagues to product operations, and from retail users to institutional users. Armed with the user pain points he had identified, Jiren confidently walked into the product redesign discussion meeting.
That’s when things started to take a turn. Instead of the enthusiastic response he’d expected, another product colleague said, “Our competitors already have mature solutions for this product. It would be safer to follow them.”
But Jiren was determined. “I’ve spoken to their users,” he responded. “Based on my research, the competitors' approach doesn’t fully meet users’ needs.”
Using detailed data and real feedback, Jiren eventually convinced the team, reminding them:
"Blindly following others' products will never lead to surpassing them."
Following Jiren's plan, the final product update focused not on pursuing aesthetics, but on making the experience more intuitive and efficient, resulting in a growth of over 50% within three months after the release.
Creating safe, efficient, and smart crypto solution is Bitget’s brand mission.
In 2024, we launched several innovative products, including AI trading bots that combine AI and strategies, Pre-Market
and
Pre-deposit
t
o invest in premium assets faster, and 24/7 new coin farming via PoolX, providing explorers of the crypto jungle with more opportunities to profit.
Story 3: The Congestion Expert
Zoie was suddenly enlightened; this overlooked feature might be the key to breaking the impasse.
As a technical expert at Bitget Wallet, focusing on the
Solana ecosystem, in 2023 — just as meme coin fever was spreading — Zoie started noticing that the same complaints were coming in.
Bitget Wallet users kept on finding that Solana had slow transfers and high failure rates, especially during the meme coin surge.
Zoie looked into it. She discovered that Solana had recently introduced a new feature called Priority Fees, and the validators prioritize transactions by fees. She swiftly implemented this feature for dynamic transaction fee adjustments, which helped users complete transactions faster during congestion.
Despite a slight average gas fee increase, success rates on Solana for Bitget Wallet users improved from below 50% to nearly 90%.
Whenever a new emerging blockchain appears, Bitget Wallet is always at the forefront, providing all-around ecosystem support. Step by step, it now supports over 100 chains.
In July, Bitget Wallet's monthly downloads surpassed MetaMask, topping app stores in Nigeria and other countries thanks to its quick TON support.
A few staff's stories reflect Bitget's development strategy. We always put users first, build products around users' needs, and actively embrace the new waves of Web3.
Although we have achieved certain accomplishments over the past six years, compared to the world's greatest companies, Bitget is still a startup, and we have a long way to go, same as our industry.
When facing challenges, I often recall the quote from Steve Jobs: “I want to put a dent in the universe”. Life may start ordinary, but it becomes extraordinary through the pursuit of dreams.
Who are we, where do we come from, and where are we heading? With dreams guiding us, we are no longer lost or confused. Think Big, Think Long – we will continue to create history and change the world as crypto goes mainstream.
Six years in, and this is just the beginning. Our journey is far from over – we're set to scale new heights. I’ll see you up there!
Sincerely,
Gracy Chen, Bitget CEO
2024-09-17
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