Cryptocurrency trading platforms are continuously evolving to meet rising security demands, especially in peer-to-peer (P2P) transactions where fraud risks are more prevalent. On August 28, 2024, Bitget, a leading global crypto exchange, announced the launch of its new P2P security layer named “Shield,” designed to strengthen user protection and reduce financial losses during P2P trading.
Introducing the P2P “Shield” Security Layer
The P2P “Shield” is a groundbreaking initiative by Bitget aimed at safeguarding users against potential fraud in peer-to-peer transactions. This security enhancement ensures that users who fall victim to scams during P2P clearing may receive compensation, significantly reducing direct financial loss. The core objective of this feature is to foster trust among users and enhance confidence in the overall trading experience on the platform.
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By introducing the “Shield” program, Bitget reinforces its commitment to building a safer and more reliable trading environment. It complements existing security measures such as a $300 million protection fund and a transparent proof-of-reserves system, both of which underscore Bitget’s dedication to platform integrity and user safety.
How the Shield Program Works
The “Shield” initiative specifically addresses platform-related issues that could lead to user losses. In cases where users are defrauded due to vulnerabilities within the system—rather than user error—the platform guarantees compensation under defined conditions.
However, it's important to note that the protection does not extend to losses caused by user negligence. For example:
- Failure to verify payment before releasing cryptocurrency
- Sharing personal information during transactions
- Conducting trades outside the official platform interface
- Trusting unverified communication channels
Users must mark payments as completed only after confirmation and avoid canceling orders post-payment. Ensuring that sender names match KYC-verified details is also critical for security.
Expanding Global Accessibility with Diverse Payment Options
As a major gateway between fiat and digital currencies, Bitget’s P2P platform now supports nearly 70 fiat currencies, including the Euro (EUR), Nigerian Naira (NGN), and Brazilian Real (BRL). To further streamline transactions, the platform has integrated over 30 payment methods, such as:
- Volet.com (formerly Advcash)
- Revolut
- Direct bank transfers
This broad support enhances accessibility for users across different regions, enabling seamless onboarding into the crypto ecosystem regardless of local banking infrastructure.
Core Security Best Practices for P2P Users
While technological safeguards like the “Shield” program are vital, user behavior plays an equally important role in preventing fraud. Bitget encourages traders to follow these best practices:
- Always verify payment receipts before releasing crypto assets.
- Never share sensitive personal data, including ID documents or bank details, outside secure channels.
- Conduct all communications and transactions within the Bitget platform to ensure traceability and protection.
- Confirm sender identity matches KYC records to avoid impersonation scams.
- Avoid urgent or emotionally manipulative requests—scammers often pressure users into quick decisions.
👉 Learn how top platforms protect users in high-risk P2P environments.
Building Trust Through Transparency and Innovation
Bitget’s launch of the “Shield” layer reflects a broader industry trend toward proactive risk mitigation in decentralized finance. By combining financial backing with technical safeguards, Bitget positions itself as a trusted player in the Web3 space.
Established in 2018, Bitget serves over 30 million users across 100+ countries, offering innovative features like copy trading and comprehensive Web3 solutions through Bitget Wallet—a multi-chain wallet supporting swaps, NFT markets, and DApp browsing.
Frequently Asked Questions (FAQ)
Q: What is the P2P “Shield” program?
A: It’s a security layer by Bitget that offers compensation to users who suffer losses due to platform-related fraud during P2P transactions.
Q: Am I covered if I send crypto before receiving payment?
A: No. The Shield program does not cover losses resulting from user errors such as failing to verify payments.
Q: How do I qualify for protection under the Shield program?
A: You must follow all platform guidelines, complete KYC verification, and report incidents promptly through official support channels.
Q: Is there a limit to compensation under the Shield program?
A: While specific caps aren’t disclosed, compensation is evaluated case-by-case based on evidence and adherence to safety protocols.
Q: Can I use any payment method with Bitget’s P2P service?
A: Yes, Bitget supports over 30 methods including Revolut, Volet.com, and traditional bank transfers across nearly 70 fiat currencies.
Q: Does Bitget offer similar protections for spot or futures trading?
A: The Shield program is specific to P2P trading; however, Bitget maintains a $300 million protection fund covering other types of platform risks.
A Step Forward in Secure Digital Asset Trading
With the introduction of the P2P “Shield,” Bitget demonstrates its ongoing focus on user-centric innovation. As cyber threats grow more sophisticated, platforms must go beyond basic encryption and two-factor authentication. Features like automated fraud detection, financial backstops, and educational outreach are becoming essential components of modern exchange infrastructure.
👉 See how next-gen security is reshaping crypto trading experiences.
Bitget’s strategy combines technological advancement with user empowerment—ensuring that traders aren’t just protected but also informed. As adoption accelerates globally, especially in emerging markets where financial literacy varies, such initiatives will play a crucial role in mainstream crypto integration.
By prioritizing transparency, expanding payment access, and reinforcing trust through measurable safeguards, Bitget sets a benchmark for what secure, inclusive digital asset trading should look like in 2025 and beyond.
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P2P security, cryptocurrency exchange, fraud protection, peer-to-peer trading, crypto safety, user compensation, Bitget Shield, secure crypto trading