BIT | Copper

BIT’s Account & Assets Security

BIT extends integration with Copper ClearLoop to introduce off-exchange settlements, revolutionizing crypto trading for institutions.

Mitigate Counterparty Risk Exposure

Instant access to assets and trade settlements via ClearLoop

Improve Capital Efficiency

Fast Settlement Time

Support for BIT's Unified Margin feature, enabling traders to utilize their entire asset portfolio as collateral.

Facilitate off-exchange settlement with added benefit of bankruptcy remoteness delivered by ClearLoop’s legal framework.

Convert previously supported coin-margined options into dollar-margined options.

Trade securely on BIT, knowing that your assets are protected through Copper's segregated custody.

Create your BIT Account

Connect ClearLoop™ Account

Done!

1. What are the steps to connect a Copper ClearLoop account?: a. Onboarding
To use these services, you need to be a client of both BIT and Copper:
Register BIT for first use via this link, and complete identity verification with the assistance of your customer manager. If you are not yet using Copper, please reach out to the Copper Account Management Team.
b. Connect ClearLoop™ Account
1. Provide the API information of your BIT account to connect with the ClearLoop™ account.
2. Go to BIT to create an API (enable Read permission) and obtain the UID (Top Navigation Bar > User Avatar on the right side).
3. Go to the Copper Console, add the ClearLoop™ account, and fill in the required information (API Key, API Secret, UID).

2. How can you deposit and withdraw funds via Copper ClearLoop?: To deposit or withdraw assets, please go to the Copper Console to perform lock and unlock action with the ClearLoop™ Account.
Please note that activating the custodian solution will disable all external deposits and withdrawals, and users can only transfer assets within the ClearLoop environment.

3. What trading products are available to Copper clients on BIT?: Copper clients are supported to use both main accounts and sub-accounts for Options and Futures trading.

4. What are the settlement guidelines?

Profit and loss generated by trading are settled every 4 hours with ClearLoop™ Account, following these guidelines:

Transfers between main account and sub-accounts are not settled.
Deposits and withdrawals are not settled.
Unsettled profit and loss for Options and Futures are not settled.
Settlement amount represents the net cash flow during each settlement period.
The process is executed automatically.
Sub-accounts are settled to the ClearLoop™ Account connecting their main account.