Bitget supports EVM-compatible address on its crypto exchange
“The blockchain space is extremely crowded and navigating its many technical aspects is a serious impediment for new entrants. Our goal is to drastically cut down the time and effort users need for basic operations.”
Bitget has become the first crypto exchange to support an EVM-compatible address, allowing users to use a single address for multiple blockchains.
From now on, users can trade and store assets with one EVM-Compatible Address through multiple chains on the Bitget platform.
Bitget’s EVM address combines blockchain networks and Ethereum’s layer 2
Gracy Chen, Managing Director of Bitget, said: “The blockchain space is extremely crowded and navigating its many technical aspects is a serious impediment for new entrants. Our goal is to drastically cut down the time and effort users need for basic operations. The EVM address feature is one such option that removes associated challenges. By enabling passwordless withdrawals and EVM address functionality, Bitget is dramatically simplifying the trading experience for users. The improvements Bitget has been introducing into its ecosystem align with the exchange’s core mission of inspiring individuals to embrace crypto with simple yet powerful tools.”
The crypto derivatives and copy trading platform’s EVM address feature combines blockchain networks, including Ethereum, Polygon, Binance Smart Chain, Arbitrum One, Optimism, and other chains in Ethereum’s layer 2 ecosystem.
If users add an EVM address to their accounts during transactions and the withdrawal network is included in the EVM address, they will be able to withdraw directly to the EVM address, thus bypassing a number of intermediary features like bridges and platform hopping.
EVM address frees users from seeking out matching networks
The demand for addresses that correspond to multiple blockchain networks is increasing. Bitget is addressing that demand by supporting EVM addresses. The inclusion of the feature will also free users from the need to seek out matching networks and spend time identifying the characteristics of withdrawal addresses.
The launch of the EVM address setting feature comes as Bitget has officially released passwordless withdrawals. The given step further facilitates interaction with the exchange and streamlines trading processes by saving users the time they had to spend on inputting passwords and receiving confirmation messages.
Bitget has recently registered as a virtual currency operator in Poland, which grants the right to provide brokerage services related to exchange transactions between crypto and fiat currencies, as well as the administration of customer accounts and custody.
Bitget’s expansion into the Polish virtual assets market follows closely on the heels of its successful completion of a similar process in Lithuania. The Singaporean centralized platform, which debuted in 2018, is a diverse crypto exchange that supports spot and futures trading, copy trading, farming, and staking services.