Victoria, Seychelles, January 9th, 2025, Chainwire
Bitget, the leading cryptocurrency exchange and Web3 company, has launched a new feature on its P2P trading platform, enabling merchants to post ads that require additional buyer verification. This feature aims to create a safer trading environment by offering an extra layer of protection for both merchants and users.
Available exclusively to whitelisted merchants, the “Verification Ad” option allows sellers to request identity verification or proof of funds from buyers before proceeding with transactions. The feature reflects a growing industry trend toward enhanced transparency and trust in peer-to-peer trading.
Enhanced Protection for Sellers
The “Verification Ad” functionality provides sellers with greater control by allowing them to verify buyer credentials or fund sources before accepting payments. Merchants can request specific documents, such as a government-issued photo ID, selfie verification, bank statements, or proof of address, depending on the requirements of the transaction.
Buyers who fail to provide the requested verification materials can have their orders rejected without impacting the seller’s completion rate. Payment details are withheld until the seller is satisfied with the buyer’s documentation, minimizing risks associated with fraudulent or incomplete transactions.
How the Feature Works
Sellers can activate the “Verification Ad” feature when posting a Sell ad. They specify the verification materials required from buyers and outline the terms clearly in the ad details. Buyers, upon selecting a verification ad, are prompted to upload the requested materials through the P2P chatbox for seller review.
If the seller approves the documents, the transaction proceeds as usual. Payment is made by the buyer and confirmed by the seller before tokens are released. In cases where the seller rejects the documentation, the buyer can return to the marketplace to select another trade counterparty.
A Safer and More Transparent Marketplace
Bitget’s introduction of the “Verification Ad” feature underscores its commitment to ensuring secure and efficient P2P transactions. By enabling merchants to verify buyer credentials and maintain control over their trades, the platform continues to enhance user trust and foster a safer trading environment.
This feature is currently available to whitelisted merchants, with potential expansion to a broader audience in the future. For more details on the “Verification Ad” feature, users can consult the comprehensive tutorial available on the Bitget platform.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices.
Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA, and LATAM markets, as well as a global partner of the Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com
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Also Read: Bitget Announces Adjustment to USDC-M Perpetual Futures Pricing Denomination
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