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Launch of BitgetX HK and FAQ
2023-04-23 16:000701
Global Bitgetters,
We proudly announce the launch of www.BitgetX.hk for our users in Hong Kong, a platform for
spot trading and Peer-to-Peer (P2P) trading. Hong Kong users can continue to trade on www.BitgetX.hk and hold their virtual assets in the BitgetX Hong Kong wallet.
BitgetX Hong Kong intends to apply for the license under the Hong Kong Virtual Asset Service Provider (VASP) regime and will operate under the transitional arrangement that will be created under the Hong Kong VASP regime until its license application is approved.
Hong Kong users will need to agree to the Terms of Use of BitgetX Hong Kong and to transfer the assets that they currently hold on Bitget.com to www.BitgetX.HK.
From June 1, 2023, the Hong Kong VASP regime will come into force in HK. We regret that due to the introduction of new regulations regulatory reasons, Bitget.com will not be able to serve Hong Kong users from June 1, 2023. From April 24, 2023, Hong Kong users of Bitget.com will be required to transition to www.BitgetX.hk and will no longer be able to access Bitget.com. They will also need to close any open perpetual contract or
margin trading positions and withdraw their virtual assets from Savings products at Bitget.com.
We will communicate timelines to Hong Kong users by email shortly. Please also read our FAQ and do not hesitate to contact us if you have any questions.
We apologise for the inconvenience caused and thank you for your support.
FAQ
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Why am I being asked to move to a different platform?
From June 1, 2023, the Hong Kong VASP regime will come into force in Hong Kong. We regret that due to the introduction of these new regulations , Bitget.com will not be able to serve Hong Kong users from June 1, 2023. From April 24, 2023, Hong Kong users of Bitget.com will be required to transition to BitgetX.hk and will no longer be able to access Bitget.com.
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What do I need to do?
When you login at Bitget.com, you need to accept the BitgetX Terms of Use. Once you do this, we will create an account for you at www.Bitgetx.hk and your virtual assets will be transferred to www.BitgetX.hk. You have
two weeks to close your open perpetual contract and margin trading positions and withdraw your virtual assets from any Savings products at Bitget.com.
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How much time do I have to exit my open positions?
You have two weeks to close your open perpetual contract and margin trading positions and withdraw your virtual assets from all Savings products on Bitget.com. We encourage you to do this as early as possible. At the end of two weeks we will automatically close your open perpetual contract and margin trading positions and your virtual assets in Savings products will be automatically released into your Bitget wallet.
From April 24, 2023, you will not be able to place new spot, margin or perpetual contracts trades, place your virtual assets into Savings products or buy or sell virtual assets on Bitget.com.
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How can I access my Account at BitgetX.hk?
You can use the same login and password on Bitget.com to login to your BitgetX.hk account.
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I don’t want to transition to BitgetX.hk. Can I stay on Bitget.com?
Unfortunately, Bitget.com will stop serving Hong Kong users from May 15, 2023 so you will not be able to use Bitget.com. We have arranged a simple way for you to transfer your virtual assets to a compliant platform. You may carry on with spot trading and
P2P trading, however perpetual contracts and Savings products will not be available on Bitgetx.hk
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I have considerable assets in Savings products. Can I continue to keep those on Bitget.com?
Unfortunately, Bitget will be required to stop serving Hong Kong users from June 1, 2023 so you will not be able to use Bitget.com. We have arranged a simple way for you to transfer your virtual assets to a compliant platform.
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Some of the tokens in my wallet are not supported at BitgetX. What should I do?
Due to technical issues, BitgetX is unable to support
certain tokens (link)
We would advise you to:
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withdraw these tokens to a private wallet that supports these tokens; or
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convert these tok ens to USDT and we will arrange for an automatic transfer of your virtual asset balance to BitgetX.hk once you click on 'Agree and Transfer'.
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What happens if I don’t agree to the Terms of Use of Bitget.hk?
If you do not wish to transfer your assets and become a user of BitgetX.hk, you are free to withdraw your assets into a private wallet by May 15, 2023.
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Why am I being directed to BitgetX.hk?
From May 15, 2023
Bitget.com shall not be operational in Hong Kong due to regulatory reasons. If you are an existing user that has agreed to transfer your virtual assets to BitgetX.hk, you may login to your account. If you are a new user, we encourage you to register and complete KYC at BitgetX.hk
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