Bitget has become the first ever centralized exchange to introduce EVM-compatible addresses – essentially combining cross-chain functionality with such networks as Ethereum, Polygon, Binance Smart Chain, Optimism, and others across a Layer 2 environment. The move propels the copy trading and derivatives platform up the list of exchanges now most attractive to users routinely migrating over multiple blockchains.
Crypto exchange Bitget adds multi-chain EVM addresses: Why do we need them?
The problem of profile hopping and commission payments for cross-chain transfers is now a thing of the past for users of Bitget who will have direct access to all networks supporting the Ethereum Virtual Machine address.
Deposits, withdrawals and other operations can now be conducted through a single address, as Bitget has unified EVM-compatible domains via its new feature. Such an innovation effectively eliminates the need for intermediaries and proves the Bitget exchange’s intention to uphold its core values that revolve around the advancement of decentralization.
Bitget Managing Director Gracy Chen described the need for the new feature:
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
Adding convenience to trading processes is one of the key goals of the Bitget exchange, as it has been making strides in both connecting new applications to its growing ecosystem and also fielding entirely new products that fit into its Web3 gateway paradigm.
Novel features for streamlined UX/UI
Among the recent feature launches that further facilitates crypto usage is the passwordless withdrawal function, which drastically cuts down the time users spend on transfer confirmations and other routine blockchain operations that should be either streamlined or even automated.
Bitget has already achieved considerable media attention recently with its acquisition of a controlling share in the BitKeep Wallet, which it later rebranded into Bitget Wallet, with the intent of using it as a Web3 gateway. The inclusion of the 7 million strong user base of the wallet has significantly bolstered Bitget’s standing in both exchange ranking and user operation volumes, reflecting positively on the price of its native BGB token, which has rallied in recent weeks.