Bitget Token (BGB): what it is and how it works

What Bitget Token (BGB) is

Bitget Token (BGB) is the native token of Bitget, a centralised crypto-asset exchange. It was created as an ERC-20 token on the Ethereum blockchain, as part of the strategy through which the company built an ecosystem of services around its platform.

This page is for information purposes only: Bitget Token is not supported by Young Platform and cannot be bought on the platform.

How it works

BGB is used within the platform that issues it: it pays transaction fees and gives access to conditions and features reserved for holders. These are benefits defined unilaterally by the exchange that issues the token, subject to change at any time and not guaranteed, and they apply solely to activity on that platform.

The tokenomics

Bitget applies a periodic burning mechanism to BGB: a portion of the tokens in circulation is removed on a scheduled basis, reducing total supply over time. This is a structural feature of the token‘s tokenomics, not a guarantee as to its value, which remains determined by the market.

What to consider

Tokens issued by a centralised exchange have a characteristic that sets them apart from crypto-assets tied to a protocol: their utility depends on the continuity of operations, the commercial choices and the regulatory situation of the company that issues them. That is a specific risk factor, on top of the volatility common to all crypto-assets.