The Bitget Token (BGB) serves as the dedicated platform token for the centralized exchange Bitget and the decentralized Bitget Wallet ecosystem. It functions as a utility token, allowing users to engage in trades, cover transaction fees, join in platform events, and enjoy various benefits.
Who Are the Founders of Bitget Token?
A group of visionary early adopters, committed to a future powered by blockchain, is behind Bitget. Since 2018, they’ve been developing an exchange that empowers users to make smarter trades through a secure, comprehensive crypto investment platform. The leadership team is made up of experienced professionals with backgrounds at major companies like Goldman Sachs, Facebook, and Binance. Key figures include CEO Gracy Chen, COO Vugar Usi Zade, CLO Hon Ng, and CBO Min Lin.
What Makes Bitget Token (BGB) Unique?
Bitget Token (BGB) distinguishes itself by offering a variety of advantages within Bitget's centralized and decentralized platforms. These include opportunities such as token farming, passive income through staking, early access to promising projects via Bitget Launchpad, reduced fees, and exclusive VIP status. Upcoming features involve on-chain trading, DeFi applications, gas fee coverage, and eligibility for project airdrops. BGB also allows discounted payments through Bitget Pay and Card, adding premium perks and services. With these diverse uses, BGB enhances user engagement and promotes wider adoption throughout the Bitget ecosystem.
How Many Bitget Token (BGB) Coins Are There in Circulation?
The initial supply of Bitget Token (BGB) was set at 2 billion coins, but the Bitget team proactively burned 800 million BGB (40% of the total supply) on December 30, 2024, bringing the total supply down to 1.2 billion tokens, all of which are now circulating. Beginning in 2025, Bitget plans to launch a quarterly buyback and burn strategy, making BGB deflationary.
How Is the Bitget Token Network Secured?
Bitget Token (BGB) operates on Ethereum's blockchain, utilizing the ERC-20 standard and the Proof-of-Stake (PoS) consensus, which ensures compatibility with any Ethereum wallet. Security is further enhanced by the Bitget Protection Fund, which held 6,500 BTC (equivalent to $600M) as of November 2024. A Proof of Reserves system guarantees a 1:1 reserve ratio, boasting an impressive industry-leading 137% reserve ratio.
Where Can You Buy Bitget Token (BGB)?
You can buy Bitget Token (BGB) directly on the Bitget exchange, and it's also available for trading on Bitfinex.
