What is Bitget Token (BGB)? Explained for Newbies

If you’ve heard of Bitget Token (BGB) but aren’t quite sure what it does, you’re in the right place. Whether you’re a beginner or an experienced trader, understanding BGB can help you save on fees, unlock rewards, and maximize your Bitget experience.

In this guide, we’ll explain Bitget Token, how it works, and why it matters—all in simple terms and without technical jargon.

What is Bitget Token (BGB)?

Bitget Token (BGB) is the native cryptocurrency of the Bitget exchange. Built on the Ethereum blockchain, the token enhances the Bitget ecosystem by offering benefits such as trading fee discounts and access to exclusive airdrops. 

As a utility token, BGB is designed to support platform growth, improve the overall user experience, and contribute to the broader development of the crypto industry.

Brief History of Bitget Token

Bitget Token was launched in July 2021 by a team of early adopters at Bitget, led by CEO Sandra Lou and Managing Director Gracy Chen.

Bitget itself was founded in 2018, but its origins trace back to 2015, when its founding team, coming from traditional finance, became fascinated with blockchain technology after studying Bitcoin’s whitepaper and the Ethereum ecosystem.

Initially, Bitget introduced the Bitget DeFi Token (BFT) as its platform token. However, in July 2021, the platform announced an upgrade, transitioning from BFT to BGB to better align with its evolving ecosystem. This upgrade involved a token swap at a ratio of 1 BFT to 2 BGB, effectively doubling the token count for existing holders.

Today, BGB is an essential part of the Bitget exchange, serving as both a trading asset and a utility token. Users can trade, send, and spend BGB, exchanging it for over 150 cryptocurrencies on the platform. Beyond trading, BGB is also accepted as a payment method by select retailers and vendors.​

BGB’s tokenomics is built on a fixed supply, diverse use cases, and economic incentives, making it a crucial component of the Bitget ecosystem. It is designed to enhance user interaction and improve platform functionality, reinforcing its long-term value.

Tokenomics and Market Capitalization

BGB launched with an initial supply of 2 billion tokens, of which 25% were allocated to BFT holders through a token swap. The remaining 75% was designated for community acquisition, branding and growth, ecosystem investment, core team incentives, and investor protection.

As adoption grew, Bitget introduced a buyback and burn program in late 2024, permanently removing 800 million BGB from circulation and reducing the total supply to 1.2 billion tokens. To further enhance the token’s value, Bitget committed 20% of its quarterly profits from 2025 onward to additional buybacks and burns, reinforcing a deflationary model.

BGB has gained significant traction among Bitget users, particularly active traders. As the exchange expanded globally, its market capitalization surged, reflecting increased adoption and demand. At the time of writing, BGB ranks as the 26th largest cryptocurrency globally, with a market cap of $4.5 billion.

Network Support

Bitget Token is an ERC-20 token built on the Ethereum blockchain, leveraging Ethereum’s secure and resilient infrastructure. This provides BGB with access to a vast network of nodes, high liquidity, and seamless compatibility with Ethereum-based decentralized applications (dApps). By adopting the ERC-20 standard, BGB ensures easy integration with platforms and services that support Ethereum tokens.

As an ERC-20 token launched on the Ethereum network, BGB allows for easy integration with several wallets, exchanges, and dAPPs that function with the Ethereum ecosystem. Additionally, Bitget has considered bridging BGB to other blockchains to improve cross-chain compatibility and liquidity while still maintaining Ethereum as its primary network.

BGB tokens are not generated through traditional mining methods like Proof of Work (PoW) or Proof of Stake (PoS). Instead, they are issued and distributed by Bitget. The total supply is capped, with tokens released periodically through various promotional activities. This strategy helps control inflation while rewarding active participants in the Bitget ecosystem.

The BGB token is designed for high throughput and low transaction fees, enabling it to scale alongside the growth of the Bitget platform. It utilizes efficient consensus mechanisms and network optimizations to manage a rising volume of transactions while maintaining speed and cost-effectiveness.

Use Cases of Bitget Token

BGB is deeply integrated into the Bitget platform, offering users exclusive benefits that set it apart from other exchange tokens. Its utility extends beyond simple trading, providing various advantages to holders. Some of its use cases include:

• Discounted Trading Fees: Users can enjoy reduced trading fees, access exclusive events, participate in token sales, and unlock additional privileges within the platform. These incentives encourage users to hold and use BGB, fostering a utility-driven ecosystem.

• Contract Margin: BGB can be used as collateral in contract trading, particularly in Bitget’s Coin-M futures product, allowing for greater trading flexibility.

• Staking and Earning Rewards: Holders can stake BGB to earn passive rewards over time, similar to earning interest on savings.

• Multiplying Income: Users can leverage wealth management products to boost their APY or increase their holdings by holding BGB.

• Voting Rights: BGB holders can vote on which projects get listed on the Bitget platform, with opportunities to earn additional rewards.

• Exclusive Discounts: Holding BGB grants users discounts of up to 50% on select digital assets, making trading and investing more cost-effective.

• Airdrop Eligibility: BGB holders can qualify for exclusive airdrop rewards from new projects and promotional events.

How to Buy Bitget Token (BGB)

Follow these steps to purchase BGB on the Bitget platform:

• Create a Free Account: Sign up on the Bitget website or download the Bitget app. Complete identity verification by selecting your country, uploading ID documents, and submitting a selfie. You’ll receive a notification once your identity is verified.

• Select a Funding Method: Choose your preferred fiat currency and enter the amount you wish to spend. Link your credit card or other payment methods to complete the transaction with zero fees.

• Check Your BGB in Your Spot Wallet: BGB will be instantly credited to your Bitget Spot account once your purchase is complete. You can then buy, deposit, convert, trade, or withdraw your tokens.

Where to Buy BGB?

BGB is available on both centralized and decentralized exchanges.

Centralized Exchanges (CEXs):

1. Bitget
2. MEXC
3. Bitfinex
4. BIT

Decentralized Exchanges (DEXs):

1. Uniswap v2
2. PancakeSwap v3

Where to Store Your Bitget Tokens?

To store BGB securely, you can choose between hot and cold wallets. But first, what is a wallet?

A crypto wallet is a digital program or device that securely stores your private keys—the passwords that grant access to your crypto. It enables you to send, receive, and manage digital assets on the blockchain. Think of it as a digital version of a physical wallet, where you store cryptocurrencies instead of cash and cards.

Hot Wallets

Hot wallets are always connected to the internet, making them convenient for frequent transactions but more vulnerable to cyber threats.

• Accessibility: Ideal for everyday use due to quick access.
• Security: More susceptible to cyberattacks since they remain online.
• Cost: Often free, but some services may charge transaction fees.
• Examples: Desktop, mobile, web-based wallets, and browser extensions.

Cold Wallets

Cold wallets are offline storage solutions offering higher security at the cost of convenience.

• Accessibility: Less convenient for daily use since they require manual connection.
• Security: More secure, as private keys remain isolated from internet-based threats.
• Cost: Typically requires an upfront purchase but provides superior long-term security.

The choice between a hot or cold wallet depends on your needs. Frequent traders prefer hot wallets for accessibility, while long-term holders and security-focused users opt for cold wallets to minimize risk.

How High Can Bitget Token Price Go in 2025?

Despite the broader downturn in the crypto market, BGB has shown significant upward momentum over the past month. The token remains resilient, recording a 280% increase over the past year.

Over the past month, BGB has experienced fluctuations, with prices ranging between $3.60 and $6.09. Notably, on December 27, 2024, the token reached an all-time high (ATH) of $8.49 before dropping to its current price. As of March 5, 2025, BGB is trading at $4.14.

With the token showing signs of recovery, analysts have provided mixed projections for BGB’s price trajectory in 2025. CoinLore suggests a more optimistic scenario, predicting that BGB could reach $12.58 this year. CoinCodex offers a more conservative range of $4.05 to $4.58, while DigitalCoinPrice estimates that BGB could approach $8.21 by year-end. Some projections suggest that if the current trend continues, BGB could climb back to $6.37 by the end of 2025 and reach $7.59 in 2026.

Several factors have contributed to BGB’s rising success. Bitget’s growing popularity as a leading crypto exchange has expanded its user base, driving increased demand for its native token. Additionally, BGB’s utility within the Bitget ecosystem—including benefits like discounted trading fees, Launchpad and Launchpool participation, and PoolX rewards—has further incentivized users to hold and actively use the token.

Benefits of Holding Bitget Token

BGB is designed to integrate seamlessly with all Bitget platform features, offering its holders continuous benefits and exclusive privileges. These benefits include:

• Transaction Fee Discounts – Users can enjoy 20% off spot trading fees when paying with BGB and reduced fees when using Copy Trade, improving profitability for both traders and followers.

• VIP Membership – Holding BGB allows users to level up as VIPs, unlocking exclusive trading benefits, lower fees, and premium platform privileges.

• Launchpool – Users can lock BGB to receive a free share of tokens from qualifying projects, making it an attractive option for passive rewards.

• Launchpad – BGB holders gain access to early-stage investments by using their tokens to buy carefully selected project tokens before they hit the market.

• PoolX – By locking BGB, users can discover new tokens and receive continuous airdrops, increasing their potential holdings.

• Groupcoin – Users can pool their BGB to access discounted prices on popular cryptocurrencies, maximizing their purchasing power.

What is Bitget Wallet?

Bitget Wallet is one of the world’s largest non-custodial, multi-chain Web3 wallets that allows users to manage various crypto assets across multiple blockchains. It offers features such as DeFi integration, DApp browsing, token swaps, and an NFT marketplace, all within a user-friendly interface.

As an essential part of the Bitget ecosystem, the wallet provides seamless integration with decentralized finance applications and blockchain networks, making it a versatile tool for crypto users.

Originally launched as BitKeep in March 2018 by Kevin Como and Yan Yun, the wallet’s alpha version was released in May 2018, followed by a $2 million investment from Matrix Partners China later that year. After securing this funding, BitKeep expanded its features by introducing DeFi functionalities in 2020. In February 2021, the platform launched BitKeep Swap, enabling direct token swaps within the wallet. By March 2022, its multi-chain swap daily trading volume reached $20 million, and the BitKeep NFT Marketplace was introduced.

Wallet Risks and Security Measures

While Bitget Wallet offers robust security, users should be aware of potential risks.

Phishing attacks can occur through fake emails, websites, or messages that trick users into revealing private keys. Human error, such as accidentally sharing private keys or losing them, can result in irreversible loss of funds. Third-party integration risks arise when connecting external services to Bitget Wallet, potentially exposing assets to vulnerabilities. Despite Bitget’s security measures, platform vulnerabilities can also pose a risk if exploited by hackers.

To mitigate these risks, users should store private keys securely, use strong passwords and enable two-factor authentication (2FA), verify links and emails before clicking, keep their Bitget Wallet app updated, and regularly monitor account activity for suspicious transactions.

Features of Bitget Wallet

Bitget Wallet offers multiple airdrop opportunities, including FairLaunchpool, Launchpad, GetDrop, and Task2Get. It features an intuitive interface that makes blockchain interactions seamless for users.

The wallet supports minting new tokens on various blockchains, including BTC, ETH, BSC, Polygon, Solana, OEC, and HECO, allowing users to create tokens within seconds. Its smart risk control system provides real-time asset protection by automatically detecting token risks.

With built-in swap functionality, users can store, send, receive, and exchange cryptocurrencies within the app while benefiting from competitive rates. The cross-chain transaction feature enables easy transfers between different blockchain networks.

Bitget Wallet also includes a DApp browser, offering access to over 20,000 decentralized applications, including DeFi protocols, GameFi apps, and social platforms. This integrated browser simplifies user interaction with Web3 services.

For NFT enthusiasts, Bitget Wallet’s NFT marketplace supports multi-chain trading, allowing users to buy, sell, and manage NFTs across multiple blockchains directly from the app.

How to Create a Bitget Wallet

To create a Bitget Wallet, follow these steps:

• Download the Bitget Wallet app from the Google Play Store (Android) or App Store (iOS).

• Sign in or log in to the app. New users can create an account, while existing Bitget users can log in with their credentials.

• Create a new wallet and set a strong password to protect your wallet.

• Back up your recovery phrase (12 or 24 words) and store it safely. This phrase is essential for recovering your wallet.

• Choose the tokens you wish to store in your wallet, including BGB and other crypto assets.

• Start using your wallet to manage assets, transfer tokens, and explore features like swaps and NFTs.

• Enable two-factor authentication (2FA) for enhanced security.

How to Deposit Funds into Bitget Wallet

After setting up a wallet, users can deposit funds by following these steps:

• Log in to your Bitget account via the website or app.

• Go to the ‘Assets’ or ‘Wallet’ section to manage your funds.

• Select ‘Deposit’ to choose between crypto and fiat deposits.

• Choose the asset you want to deposit, such as BTC, ETH, or USDT.

• Generate a deposit address if depositing crypto, and copy it carefully to avoid errors.

• Send crypto from an external wallet by pasting the copied deposit address into the withdrawal section of your external wallet or exchange.

• Wait for blockchain confirmation, depending on network congestion, which can take a few minutes to several hours.

• Deposit fiat (if supported) via bank transfer, credit card, or other payment methods.

Once the deposit is confirmed, the funds will appear in your Bitget Wallet balance. Always verify the copied address before the transaction to prevent potential fund loss.

What is Bitget Exchange?

Bitget Exchange is a crypto trading platform that allows users to buy and sell crypto assets like Bitcoin, Ethereum, and over 500 altcoins. It offers multiple trading options, including spot trading, futures trading, and copy trading, catering to both beginner and experienced traders. 

Many people confuse Bitget Exchange with Bitget Wallet. The key difference is that Bitget Wallet is a self-custody platform where users swap, store, and manage their digital assets while engaging in DeFi activities. On the other hand, Bitget Exchange is a centralized platform where users can buy, sell, and trade cryptocurrencies. Since September 1, 2023, Bitget has mandated Know Your Customer (KYC) verification for all new users. This means that without completing KYC, users cannot access the platform’s trading and deposit features.

How to Connect Bitget Wallet to Biget Exchange

To connect Bitget Wallet to Bitget Exchange, follow these steps:

• Download and Install Bitget Wallet: If you don’t already have the Bitget Wallet app, download it from the official App Store (iOS or Android) or the Bitget website.

• Set Up Bitget Wallet: Open the app and follow the instructions to create a wallet. Back up your recovery phrase and set up security features like passwords or biometrics.

• Log in to Bitget Exchange: Go to the Bitget Exchange website or use the Bitget Exchange app and log in. If you don’t have an account, sign up and complete the KYC verification process.

• Access the ‘Assets’ Section on Bitget Exchange: After logging in, navigate to the Assets section on the Bitget Exchange platform.

• Find the ‘Wallet’ or ‘Deposit’ Option: Look for the Deposit option or the section dedicated to linking external wallets.

• Connect Bitget Wallet to Bitget Exchange: In the Wallet section, select “Connect Wallet” and choose Bitget Wallet. This may require scanning a QR code or entering a connection code from the Bitget Wallet app.

• Confirm Connection: Approve the connection request in your Bitget Wallet app.

• Fund Your Exchange Account (Optional): Once connected, you can deposit funds from your Bitget Wallet into your Bitget Exchange account by selecting the cryptocurrency you want to transfer.

Frequently Asked Questions

How do I transfer money from my bank account to Bitget?

To deposit fiat currency into Bitget, open the Bitget app, click on ‘Deposit Fiat’, and you will be redirected to the Bank Transfer page. Select your preferred fiat currency and deposit method, review the details, enter the amount you want to deposit, and confirm the transaction.

How many Bitget tokens exist?

There are 1.2 billion Bitget tokens (BGB) in circulation out of a total maximum supply of 2 billion BGB.

Where can I buy Bitget tokens?

BGB can be purchased on centralized and decentralized exchanges. Popular platforms include Bitget, MEXC, Bitfinex, and Uniswap. It is important to choose an exchange that offers secure transactions, high liquidity, and a user-friendly interface.

How much is a Bitget token worth?

Bitget Token (BGB) is currently trading at $4.14 per coin, with a market capitalization of $4.9 billion. The token’s 24-hour trading volume of $339 million indicates strong investor confidence.

Does Bitget Wallet require KYC?

Yes, Bitget Wallet requires KYC verification. Users must provide personal identification documents before accessing all platform features, such as higher withdrawal limits and advanced trading options.

What was Bitget Wallet previously called?

Bitget Wallet was previously known as BitKeep before its rebranding after being acquired by Bitget Exchange.

Is Bitget Token (BGB) a good investment?

If you’re considering investing in BGB, there are a few key factors to keep in mind. Despite market volatility, Bitget Token has shown strong growth and provides various benefits to its holders, such as discounted trading fees, airdrop eligibility, and access to exclusive investment opportunities. The token’s increasing adoption within the Bitget ecosystem has strengthened its demand. However, as with any cryptocurrency, market conditions, investor sentiment, and regulatory factors can impact its value. Investors should conduct thorough research and only invest what they are willing to lose.

Final Thoughts 

Bitget Token is the native utility token of Bitget Exchange, created to enhance the trading experience by offering various benefits, including discounted fees, voting rights, and airdrop eligibility. Its strong integration within the Ethereum blockchain and trading availability on major platforms like Bitfinex and MEXC have reinforced its credibility.

Whether you’re a casual DeFi user or a dedicated crypto investor, BGB offers a range of utilities that can enhance profitability and engagement within the Bitget ecosystem. However, market risks remain, so it’s important to stay informed and make investment decisions based on careful evaluation.