Bitget Token (BGB) is built on top of [Ethereum](https://coinmarketcap.com/currencies/ethereum/)’s blockchain according to the [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) compatibility standard, which means it relies on a Proof-of-Stake ([PoS](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos)) consensus mechanism. BGB tokens can be securely stored on any wallet which supports Ethereum (ETH). Moreover, the exchange has received MSB licenses in the U.S. and Canada. The platform is [KYC](https://coinmarketcap.com/alexandria/glossary/kyc)-compliant, Bitget requires identity verification to gain access to financial activities.

The current circulating supply of Bitget Token is 1.4 billion BGB with the maximum amount of 2 billion BGB. The distribution of BGB tokens is as follows: exchange for BFT (Bitget DeFi Token) - 25%; Team Incentives - 20%; Branding (KOL) - 15%; Referrals - 15%; BGB ecosystem - 15%; Investor Protection Fund - 10%

In September 2022, the platform became the third-largest derivatives exchange in the world. According to Bitget, BGB provides low transaction costs as it uses a decentralized blockchain network with no middlemen. BGB token is highly scalable, according to the website. As the Bitget platform grows, developers ensure that it can manage high transaction volumes without getting congested. BGB also offers discounted trading fees of up to 20% off, and access to exclusive rewards and promotions to users of Bitget. With BGB, users can profit share using the Bitget flagship product, Copy Trade. Furthermore, holders of BGB can gain early access to projects on the launchpad, or stake and obtain tokens from the launchpool.

Bitget Token (BGB) is the exchange token of Bitget, a centralized cryptocurrency exchange ([CEX](https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex)). The social trading platform was founded in 2018, and registered in the Seychelles. Bitget is a fast-growing derivatives exchange platform with over 8 million registered users in more than 100 countries. Sandra Lou is the CEO and founding member of Bitget. Lou has nearly 10 years of experience in the traditional financial industry. In 2016, she was introduced to Bitcoin, gained interest in blockchain technology and investing within the crypto industry. In 2017, she joined the founding team of Bitget.

Bitget Token (BGB) is the native [utility token](https://coinmarketcap.com/alexandria/glossary/utility-token) of [Bitget](https://coinmarketcap.com/exchanges/bitget/), a crypto [centralized exchange](https://coinmarketcap.com/alexandria/glossary/centralized-exchange-cex) (CEX). The updated BGB token was launched in July 2021 with the aim of providing platform users with a form of payment within the ecosystem. The utility token of Bitget can be used by traders for staking, social trading, profit sharing or receiving discounts on trading fees. BGB holders can also participate in the launchpad and launchpool.