Taiwanese investors are currently highly enthusiastic about cryptocurrency trading, with BitoPro data showing that both registration and trading volumes have hit new highs.
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(Background supplement: Bhutan’s National Bitcoin Holdings Reach One-Third of GDP, Can Bitcoin Become the New Global Reserve?)
This article is a press release written and provided by BitoGroup, and its stance is unrelated to DigiTimes.
Bitcoin continues to challenge historical highs, breaking through $93,000 at 14:00 UTC on December 14, ushering in another bull market in the crypto community. BitoPro, Taiwan’s leading cryptocurrency exchange, has set new records for both user registrations and trading activity since its launch. On a single day, new user registrations were 10 times the average, and product usage was 7 times the average. The points-to-cryptocurrency exchange service in collaboration with FamilyMart has attracted many small investors and retail traders to enter the market at zero cost. This successful out-of-the-box strategy by BitoPro has proven effective during this bull market, with the BitoPro app ranking second in the finance category on the App Store, behind international exchange Binance which ranks third.
Compared to offshore cryptocurrency exchanges that focus on a variety of trading products such as contracts, options, and derivatives, which primarily cater to professional traders and knowledgeable investors, BitoPro aims to bring cryptocurrencies into the mainstream by adopting an out-of-the-box business strategy and establishing competitive differentiation. For example, leveraging the familiar point economy in Taiwan, BitoPro and FamilyMart pioneered the Fa point system, allowing consumers to freely exchange their points for multiple cryptocurrencies. For every NT$1 spent, one point is accumulated, which can be exchanged for Bitcoin, Ethereum, Dogecoin, Tether, and seven other cryptocurrencies. This service, which has been available for several years, remains a unique cross-industry collaboration globally. Additionally, how to accumulate points has become a hot topic, with various strategies emerging online for converting external points (such as airline miles and credit card points) into Fa points and then into cryptocurrencies. Many users who exchanged points for Bitcoin at the beginning of the year have now seen a doubling of their investment, while those who exchanged for Dogecoin have seen a sixfold return.
The concept of exchanging points for cryptocurrencies accurately captures the public’s desire to activate idle points and achieve free “financial management,” turning the value of a drink into several times more. Since October, searches and social media discussions about exchanging FamilyMart points for Bitcoin have significantly increased. In November, the 70 million points allocated were redeemed within 12 days, prompting BitoPro to add another 35 million points the next day, attracting a large number of young adults (ages 18 to 40) to redeem and open accounts, accounting for nearly 80%.
Cheng Kuang-Tai, founder and CEO of BitoGroup, stated:
**BitoGroup**
BitoGroup was founded in 2014 with the mission of making blockchain accessible to everyone’s daily life and assisting businesses and consumers in entering the Web3 era. BitoGroup is committed to using blockchain and high-frequency trading technology to create innovative financial infrastructure. The group operates a diversified business portfolio, including BitoPro, a cryptocurrency exchange, the NFT empowerment platform BELS, and O2 META.
BitoPro is Taiwan’s first secure, stable, and user-friendly cryptocurrency exchange, providing blockchain services for cryptocurrency wallets and exchanges. It also supports purchasing or exchanging cryptocurrencies with points at convenience stores. BitoPro supports various major cryptocurrencies, including ETH (Ethereum), USDT (Tether), DOGE (Dogecoin), BTC (Bitcoin), and offers New Taiwan Dollar deposit and withdrawal services.
