Bausch Health Companies Inc.

1. Stock tokens (spot)

Nature: Stock tokens are digital tokens pegged to the price of specific traditional stocks (such as TSLAUSDT and NVDAUSDT) and are traded on Bitget's spot market.

Features: When you trade stock tokens, you are buying and holding tokens rather than owning the underlying traditional stocks.

• The price of these tokens generally follows the price movements of the stocks they are pegged to, such as Tesla or Nvidia.
• The advantage is that you can participate in the price movements of traditional financial assets, such as U.S. stocks, using cryptocurrencies (for example, USDT), without the need for a traditional brokerage account.

2. Stock perps

Nature: Bitget also offers USDT-margined perpetual futures, commonly referred to as stock perps, based on major U.S. blue-chip stocks such as Tesla and Meta.

Characteristics: Stock perps are derivative products that allow you to take a bullish or bearish view on the future price of an underlying stock through margin trading. These products typically support leverage, such as up to 25x.

It does not involve owning the underlying stock. Instead, profits and losses are settled based on price movements of the futures.

Important note: When trading stock perps on Bitget, you are participating in derivative markets within the cryptocurrency ecosystem. This is fundamentally different from purchasing publicly traded shares through a traditional brokerage, as you do not own equity in the underlying company.

Futures trading and the use of leverage involve high risk. Please ensure you fully understand the risks before trading.

If you wish to directly hold equity in traditional stocks and enjoy shareholder rights (such as receiving dividends), you must trade through a regulated traditional securities brokerage or brokerage platform.

1. Trading convenience and global accessibility

• 24/7 trading: Traditional stock markets, such as U.S. equity markets, operate during fixed trading hours. In contrast, cryptocurrency derivatives markets are typically open 24/7. This means investors can trade anytime, capitalizing on breaking news or market fluctuations.
• Lower entry barriers and faster onboarding: Compared with traditional brokerages, which often require extensive identity verification and lengthy account setup processes, Bitget generally offers faster account onboarding. Users can trade using cryptocurrencies such as USDT, without the need for complex fiat deposit and withdrawal procedures.
• Global accessibility: Users can access derivatives trading linked to globally recognized stocks via the Bitget platform, subject to applicable regulations.

2. Capital efficiency and high leverage

• High leverage options: Stock perps typically offer higher leverage than traditional stock trading (for example, up to 25x). This allows traders to control larger positions with smaller margin requirements, improving capital efficiency.
  Note: While high leverage can amplify gains, it also amplifies losses proportionally.
• Two-way trading: Traders can easily take both long and short positions. This means traders can potentially profit from market volatility whether stock prices rise or fall, provided the market direction is correctly anticipated.

3. Trading and settlement using cryptocurrency

• USDT margin: Stock perps on Bitget typically use USDT (or other stablecoins) as the margin and settlement currency. For users who already hold cryptocurrency, there is no need to convert assets into fiat currency, allowing them to trade directly with stablecoins.
• Efficient fund transfers: Crypto-based transfers and settlements are typically faster than traditional fiat systems, enabling more efficient global fund allocation.

4. Integration

One-stop platform: Bitget allows users to trade spot cryptocurrencies, crypto derivatives, and stock perps on a single platform, making it easier to manage different asset types in one place.

Transaction fees:

Bitget offers limited-time fee promotions for stock perps (especially stock token perps) from time to time to attract traders.

Standard reference rates: Under Bitget's standard futures fee structure, the taker fee is typically around 0.06%, while the maker fee is around 0.02%.

Current promotions for stock perps (important): To promote its stock perps products, Bitget is offering discounted transaction fees during Q4 2025, with taker fees as low as 0.006% and maker fees as low as 0.002%. There is also a limited-time promotion offering zero-fee trading for spot stock tokens.

Funding rate:

The funding rate is a key mechanism in perpetual futures (including stock perps) that helps keep the futures price closely aligned with the spot price of the underlying asset. It is not a fee charged by the platform, but a periodic payment exchanged between long and short traders.

Funding rates fluctuate dynamically and are mainly driven by market sentiment and imbalances between long and short positions. Stock perps generally experience lower volatility than cryptocurrencies, so funding rates are often relatively low during stable market conditions. However, during earnings seasons or major positive or negative news events, heavy concentration of long or short positions—such as in high-growth technology stocks like Tesla or Nvidia—can create significant imbalances, causing funding rates to spike in the short term.

Funding payments are typically settled every 8 hours. If you close your position before the funding settlement time, no funding payment will be charged or received.

Funding rates are not fixed. If you hold a position for an extended period, high positive funding rates (for long positions) or high negative funding rates (for short positions) will affect your overall holding costs or potential returns. For this reason, it is important to monitor the funding rate in real time on the trading interface.

1. Unified collateral (USDT-margined)

One of the biggest advantages is the ability to trade U.S. equities—like Tesla (TSLA), NVIDIA (NVDA), and Apple (AAPL)—using USDT as collateral.

• No fiat conversion: You don't need to exit the crypto ecosystem or convert to USD to trade global stocks.
• Cross-asset efficiency: You can manage your crypto and stock positions from a single USDT-M Futures account, allowing for easier capital allocation.

2. High capital efficiency

Bitget offers aggressive leverage options that are typically unavailable on traditional brokerage platforms:

• Up to 25x leverage: While traditional stock brokers often limit retail traders to 2x or 4x leverage, Bitget allows for significantly higher capital efficiency.
• Fractional trading: You can take positions in expensive stocks (like Meta or Amazon) without needing the full capital for a single share, thanks to the flexible position sizing of perpetual futures.

Extended trading hours (24/5)

Traditional stock markets are restricted by opening bells and weekend closures. Bitget's stock perps products are designed for the modern global trader:

• Continuous access: Trading typically runs 24/5 (Monday to Friday, UTC+8), mirroring the flexibility of crypto markets.
• Macro responsiveness: If a major tech company reports earnings after New York closes, Bitget users can often react to price movements immediately through stock token markets

4. Competitive fee structure

Bitget has disrupted the traditional brokerage model with a low-cost approach:

• Low fees: Transaction fees for stock perps are often at or below 0.06%, which is highly competitive compared to both traditional brokers and other crypto–TradFi hybrid platforms.
• No hidden commissions: Unlike many "zero-fee" brokers that profit from wide spreads (payment for order flow), Bitget uses a transparent funding and margin model.

5. Advanced trading and copy trading

Bitget brings its social trading DNA to the stock market:

• Copy trading for stocks: You can follow elite traders who specialize in equity markets, automatically replicating their stock perps trades.
• AI-powered tools: The platform includes AI agents that assist with trade execution, risk management, and technical analysis.

Bitget maintains a dedicated Protection Fund, which serves as the last line of defense against hacks or security breaches.

• Massive scale: As of early 2026, the fund's average valuation is maintained at approximately $600 million (previously peaking at over $750 million).
• Asset diversification: The fund consists of highly liquid assets such as BTC and USDT, ensuring solvency even during extreme market volatility.
• Self-funded: This fund does not rely on third-party insurance. Bitget self-funds it and commits to maintaining a balance above $300 million for at least three years without withdrawals.

To demonstrate that the platform does not misappropriate user funds, Bitget utilizes Merkle Tree architecture to publish regular reserve reports.

• High coverage ratio: Data from January 2026 shows that the average reserve ratio for core assets (BTC, ETH, USDT, USDC) reached 163%, far exceeding the 1:1 benchmark.
• Independent verification: Users can use open-source tools provided by the platform to verify that their assets are included in the reserve snapshots via anonymous IDs.

3. Cold/hot wallet isolation and multi-sig

At the underlying technical level, Bitget employs bank-grade security architecture:

• 95% offline storage: The vast majority of user assets are kept in cold wallets, completely isolated from the internet to prevent remote hacking.
• Multi-signature (multi-sig): Critical fund transfers require signatures from multiple geographically dispersed and independent key holders, eliminating the risk of a single point of failure.

4. Rigorous withdrawal security policies

To mitigate the risk of individual account theft, Bitget has implemented multiple protective mechanisms:

• Withdrawal whitelist lock: After adding a new withdrawal address, the account enters a 24-hour withdrawal freeze period.
• Cross-device scan confirmation: A feature launched in 2026 requires that any withdrawal initiated on the web be confirmed by scanning a QR code via the mobile app, effectively preventing PC-based trojans from tampering with addresses.

5. Compliance and international certification

Bitget actively embraces regulation and has obtained several international information security certifications:

• ISO 27001 and ISO 27701: Bitget has obtained dual certification for Information Security Management and Privacy Information Management, demonstrating that its internal processes meet top-tier global compliance standards.