Bitget is a globally recognized digital asset marketplace. It offers features such as a one-click Copy Trade, allowing you to align your strategies with those of numerous professionals. In addition,the platform supports tokenized asset trading and has its own BGB token, which can provide benefits like trading discounts and yield enhancement.
Bitget is one of the Tier-1 digital asset marketplaces trusted by millions of users worldwide. The brand name consists of two key elements: "bit," representing Bitcoin, the dominant cryptocurrency in the digital realm, and another component that complements its identity. The second part of the name holds "get" and reveals the mission and intent of the exchange to spread digital assets to the general public.
Currently, the marketplace concentrates on its flagship product, One-Click Copy Trade. The offer entitles users of any level to initiate earning on tokenized asset trading by emulating the trading moves of skilled and successful traders.
As a result, Bitget has brought together more than 50,000 trading professionals and gathered over one million subscribers who use the mastery of trading MVPs (most valuable players) to create yield on derivatives.
Bitget Origins Revealed
The founder, Sandra Lou, went through registration for the exchange in the Seychelles in 2018. Since 2019, Bitget has embarked on its journey by introducing a cutting-edge trading terminal and stepping into the realm of cryptocurrency derivatives. Fast forward to the present day, and it proudly stands among the top five exchanges, commanding a significant trading volume in the derivatives market.
The BGB Token Explained
BGB stands as a native digital currency, embodying the ERC20 standard and leveraging the power of the Ethereum blockchain. Acting as a cornerstone within the marketplace, this token takes center stage, facilitating seamless transactions and serving as a means of payment for exclusive services within the trading portal.
BGB key indicators as of May 15, 2023:
- Token name: Bitget Token
- Token symbol: BGB
- Volume (24h): $16,396,766
- Token all-time high: $0.52
- Circulating supply: 1,400,000,000 BGB
- Fully diluted market cap: $937,190,515
- Chain: ERC-20
- Current token price: $0.47
- Total supply: 2,000,000,000 BGB
- Market cap: $655,988,128
Bitget has designed a well-structured reward program for BGB holders, giving users access to exclusive marketplace benefits and opportunities to benefit from the coin's price appreciation.
The BGB Token Use Cases
BGB is the centerpiece of the Bitget ecosystem and the crypto exchange's utility token, used to pay trading fees. Moreover, the token can be used as proof of the interests and rights of netizens, regardless of their skill level. Crucially, BGB assumes the pivotal role of a social token, facilitating seamless transactions between top traders and subscribers of the esteemed Copy Trade service. The main advantages of the BGB token for HODLers:
- Access to an early-stage investment in carefully selected blockchain projects
- Participation in airdrops of promising crypto assets that are listed on the exchange
- Exclusive discounts on trading fees (up to 30% on the spot market)
- Traders using Copy Trade receive up to 10% profit from each subscriber
- Exclusive rewards for futures trading
- Zero commission for claiming funds when choosing recommended cryptocurrencies
- Increased APY for loyal users participating in the BGB Earn program
- Governance voting opportunities
Bitget has created a perfectly performing ecosystem where traders and coin holders can earn daily rewards from the trading platform. The good news is that beginners can start making money using three investment mechanisms simultaneously. It is enough to subscribe to the Copy Trade service, stake a token to partake in the BGB Earn program, and join intra-platform voting rounds for additional rewards.
Bitget Security Mechanisms
The trading venue has attracted dozens of top engineers to offer complete security and assurances. Today, the trading platform uses a time-tested set of rules along with A+ risk management tools:
- Escrow for key accounts
- Multi-signature tools
- Physical isolation between various services
- Merkle tree Proof-of-Reserve
- No tapping into user assets approach
- MPC wallet solutions (for cold and hot wallets)
Besides, the brand created a Bitget Protection Fund to protect users' assets and improve security tools. The size of the fund reached a record $300 million. The exchange took clear steps to provide absolute security and guarantees for client assets and placed $200+ million and 6,500 BTC on seven public wallet addresses.
Tokenomics
BGB is an intra-platform token with a deflationary mechanism. Bitget uses a widespread buyback-and-burn program to follow the project's previously declared tokenomics plan.
Bitget tokenomics in details:
- Investors' protection fund: 10%
- Branding and promotion: 15%
- Acquisition of new users: 15%
- Ecosystem investment: 15%
- Team incentives: 20%
- Circulating supply: 25%
The buyback-and-burn approach allows buybacks and token burns to strike a balance between BGB price growth and the long-term resilience of the token.
Bitget Funding
As previously mentioned, five investors funded the project when it started in 2018:
- April 4, 2023 – Dragonfly on Venture round
- December 10, 2018 – MX Capital on Corporate Round
- December 10, 2018 – Transference Fund on Corporate Round
- December 10, 2018 – 8 Decimal Capital on Corporate Round
- December 10, 2018 – CoinNess on Corporate Round
In order to implement the Ecosystem Fund Core DAO launched on April 19, 2023, Bitget raised $200 million in one of its most recent investment rounds.
Bitget Roadmap
Like most top crypto exchanges, the marketplace is focused on rewarding users and providing special incentives. This approach allowed Bitget to unite netizens from 50+ countries and offer practical solutions for yield with decentralized financial instruments.
The roadmap for 2023 is as follows:
- Q4 2023 – presentation of extra privileges
- Q3 2023 – refined APY for advanced BGB Earn
- Q2 2023 – zero fee implementation aimed at the withdrawal for BGP VIP holders
- Q1 2023 – BGB lottery and BGB trial fund launch
Having created a vibrant Web3-ecosystem, the marketplace actively promotes NFT, Defi apps, and promising blockchain projects. As a result, users and BGB holders get a unique opportunity to earn from trading and staking crypto assets and run unique passive income opportunities with the Copy Trade tool.
