Bitget Token (BGB) is the native cryptocurrency of the Bitget crypto exchange, operating on the Ethereum Blockchain (ERC20). It enhances the internal ecosystem of the exchange, providing various benefits for traders, including fee deductions and airdrops. BGB is a utility-type token, not a financial derivative, and its use cases are expanding to support the growth of the cryptocurrency industry.
The Bitget token (BGB) is the native utility token of the cryptocurrency platform Bitget. It serves several purposes within the Bitget ecosystem, enhancing the user experience and providing various benefits. Here are the key use cases of BGB:
Discounted Trading Fees: Holding BGB allows users to enjoy discounted trading fees on the platform. Currently, this discount is available for spot trading at a 20% rate and will soon be extended to futures markets with a 15% discount rate.
Contract Margin: BGB can be used as collateral for contract trading, particularly in Bitget's unique Coin-M futures product.
Staking and Earning Rewards: Users can stake BGB to earn passive rewards over time, similar to interest.
Multiplying Income: By holding BGB, users can participate in wealth management products to increase their APY or holdings.
Launchpad and Early-Stage Investments: BGB is used in the Launchpad, allowing users to subscribe to early-stage investment opportunities and access exclusive token sales.
Voting Rights: BGB holders have voting rights to decide which projects will be listed on the Bitget platform, along with additional rewards.
Exclusive Discounts: BGB holders can receive high discounts (up to 50%) on popular currencies.
Airdrop Eligibility: Simply holding BGB tokens makes users eligible to receive free airdrops.
These use cases demonstrate the versatility and utility of the Bitget token within the Bitget ecosystem.
To store Bitget Token (BGB) tokens, you have several options:
Exchange Wallets: You can store your BGB tokens on the exchange where you purchased them. This provides easy access to trading and other features but may not be as secure as other options.
Crypto Wallets: You can transfer your BGB tokens to a crypto wallet, such as Trust Wallet, which offers more control over your private keys and is suitable for long-term storage.
Cold Wallets: For maximum security, you can store your BGB tokens in a cold wallet, which is offline and less vulnerable to hacking.
Self-Custodial Wallets: Bitget collaborated with BitKeep to create a secure, user-friendly, self-custody Web3 crypto wallet. This allows you to maintain full control over your private keys and store your BGB tokens securely.
Bitget Account: You can also store your BGB tokens directly in your Bitget account, which is convenient for using platform perks but may not be ideal for long-term storage.
When choosing a storage method, consider your needs and preferences, balancing convenience with security.
To buy Bitget Token (BGB) tokens, follow these steps:
Choose a Centralized Exchange (CEX): Select a reliable and trustworthy crypto exchange that supports Bitget Token (BGB) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.
Create an Account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.
Verify Your Identity: Complete KYC verification by providing the required information, which may vary based on your nationality and region. Users who pass KYC verification will have access to more features and services on the platform.
Add a Payment Method: Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method. The information you need to provide may vary depending on your bank's security requirements.
Buy a Supported Cryptocurrency: Purchase a popular cryptocurrency like USDT, ETH, or BNB using fiat currency if supported by the exchange.
Transfer to a CEX Supporting BGB: If the exchange you used in step 5 does not support BGB trading, transfer your purchased cryptocurrency to a CEX that supports BGB trading, such as Bitfinex or Bitget.
- Buy BGB: Use your transferred cryptocurrency to buy Bitget Token (BGB) on the CEX that supports it.
Alternatively, you can use a decentralized exchange (DEX) by connecting your crypto wallet to the DEX and trading your ETH for BGB. Ensure you follow the necessary steps to set up your wallet and connect it to the DEX securely.
