What Is Bitget Token (BGB)?
Bitget Token (BGB) serves as the intrinsic utility token of Bitget, a centralized cryptocurrency exchange (CEX). The revamped BGB token made its debut in July 2021, aiming to furnish platform users with a convenient payment medium within the ecosystem.
Traders on Bitget can leverage the utility token for diverse purposes, including staking, social trading, profit sharing, or availing discounts on trading fees. BGB holders also gain access to features like the launchpad and launchpool.
Who Are the Visionaries Behind Bitget Token?
Bitget Token (BGB) functions as the exchange token of Bitget, a centralized cryptocurrency exchange established in 2018 and domiciled in the Seychelles. Bitget has swiftly emerged as a leading derivatives exchange platform, boasting a user base exceeding 8 million across over 100 countries.
At the helm of Bitget stands Sandra Lou, the CEO, and a founding member. With close to a decade of experience in the traditional financial sector, Lou transitioned to the crypto realm in 2016 upon encountering Bitcoin. Her fascination with blockchain technology and crypto investing led her to join Bitget's founding team in 2017.
What Sets Bitget Token (BGB) Apart?
In September 2022, Bitget ascended to the ranks of the third-largest derivatives exchange globally. Bitget underscores BGB's appeal by highlighting its low transaction costs, facilitated by a decentralized blockchain network devoid of intermediaries.
The scalability of the BGB token is touted as a notable feature. As Bitget continues its expansion, developers ensure its capacity to handle substantial transaction volumes without congestion.
BGB holders enjoy perks such as discounted trading fees of up to 20%, alongside exclusive rewards and promotions. Through Bitget's flagship product, Copy Trade, users can engage in profit-sharing endeavors. Additionally, BGB holders gain early access to projects on the launchpad or can stake and acquire tokens from the launchpool.
How Many Bitget Token (BGB) Coins Are in Circulation?
Presently, the circulating supply of Bitget Token stands at 1.4 billion BGB, out of a maximum of 2 billion BGB. The distribution breakdown of BGB tokens is as follows: exchange for BFT (Bitget DeFi Token) - 25%; Team Incentives - 20%; Branding (KOL) - 15%; Referrals - 15%; BGB ecosystem - 15%; Investor Protection Fund - 10%.
How Is the Bitget Token Network Secured?
Bitget Token (BGB) operates atop Ethereum's blockchain, adhering to the ERC-20 compatibility standard, and relies on a Proof-of-Stake (PoS) consensus mechanism. BGB tokens can be securely stored in any wallet supporting Ethereum (ETH).
Furthermore, Bitget has obtained MSB licenses in the U.S. and Canada, ensuring compliance with KYC regulations. Identity verification is mandatory on Bitget to access financial services.
Where Can You Procure Bitget Token (BGB)?
Acquiring Bitget Token (BGB) is facilitated directly through the Bitget exchange. Additionally, BGB is tradable on Bitfinex.
For real-time tracking of BGB prices, download the CMC mobile app.
Related Pages:
Explore insights into KuCoin (KCS) and Huobi Token (HT).
Expand your understanding of centralized exchanges (CEXs) with the CMC glossary.
Delve into the realm of web 3.0 cryptocurrencies via CMC Alexandria
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