Why BGB Is Your Blue Chip Exchange Token
Meant to bridge the gap between DeFi and CeFi worlds, BGB token underwent a swap upgrade in early 2022, along with changes in usage and versatility of this incredible token. BGB has a current market cap of US$265 million, showing much more room to rise to its ultimate power.
Now, why do we feel confident to proclaim BGB as the blue-chip exchange token? We’ll go through the key reasons, one by one in this article.
Because Bitget is the leading derivatives exchange in the space
Bitget has been constantly expanding our products and services to users in more than 100 countries across the globe. We are also the first platform to fully embrace the concept of Social Trading - a form of trading that allows literally anyone to begin trading ASAP with minimum risks.
Bitget is proud to be one of the most trusted crypto exchanges, thanks to the focus on security and compliance. We have received operational licences from two major authorities - the U.S. and Canada, and at the same time adhering to local regulations to conduct uninterrupted operations across the globe. In terms of security, Bitget received an A+ ranking for 12 SSL indicators and secured our place in the top 10 Exchanges by Cybersecurity Rating from Crypto Exchange Ranks (CER). Moreover, we have recently published our Reserve Certificate here, which is updated on a regular basis to ensure transparency and customer trust.
BGB is the golden ticket to Bitget’s world of trading investment. Holders of BGB are entitled to a direct 20% discount in spot trading fees, should they choose to pay with our platform token. There are always multiple campaigns designed exclusively for BGB holders, for example, traders who deposited BGB as their margin used to get a 15% discount in futures trading fees.
Purchasing BGB is also made easy-peasy. There are four different BGB spot pairs on Bitget: BGB/USDT, BGB/USDC, BGB/BTC, and BGB/ETH. That allows investors with staple crypto holdings (stablecoins, BTC, ETH) to acquire BGB conveniently at any time.
Because BGB opens the door to low-risk DeFi
BGB empowers the vibrant Bitget ecosystem that combines the best of CeFi and DeFi. The three best options for BGB holders for now include Bitget Launchpad, Bitget Launchpool, and BGB Earn. Do you see the DeFi reflection in these names? We have decentralised fundraising with Bitget Launchpad, yield farming with Bitget Launchpool, and secure saving with BGB Earn.
With Bitget Launchpad, BGB holders can have early access to promising crypto startups (which must be vetted by our professionals beforehand), and make a contribution to their future success. It’s important to note that we only hold crowdfunding events for qualified projects and pledge to list their tokens in the Innovation Zone on Bitget Spot Trading to minimise the risks that come with early-stage investing. Check out how much you could’ve made if you participated in these rounds as a BGB holder and sold the tokens at their ATH:
If you only want to put your BGB to work, Bitget Launchpool and BGB Earn are definitely the ones to go to. Take a look at Bitget Launchpool stats:
• 13 pools completed since September, three opened for BGB staking only;
• Each pool lasted for 5 days, helping users to manage their assets in accordance with market movements;
• Total rewards distributed are estimated at US$246,818 (using closing prices of November 30, 2022) for both BGB stakers and reward token stakers. That doesn’t include rewards for the ‘stake JASMY - earn BTC’ pool.
• APY for staking BGB is, in general, higher than staking other tokens.
• The highest amount of BGB staked on Bitget Launchpool is 27,642,296, equivalent to 1.28% of the total supply. And that is just for one single pool!
BGB Earn works as your savings account. However, 6% APR is way higher than what you could receive by depositing your funds into TradFi banks, and we are not taking inflation into account here. In this sense, holding BGB is equivalent to insuring yourself.
Because BGB itself is of great value
Supply and demand decide the market price of any asset. As shown above, BGB holders can benefit from several activities on Bitget, be it fee reduction or earning. Hence, the demand for BGB is constantly on the rise, while BGB supply is limited at 2,000,000,000 only.
In terms of performance, BGB has had an excellent year. Below is a comparison of BGB and other major cryptocurrencies’ returns on a 3-month basis. In Q1 2022, when everything was still nice and fine, BGB’s growth was 5.5 times higher than that of BTC, 7 times higher than ETH, and 307 times higher than BNB. In Q2, even with the collapse of Terra (LUNA) and the looming of a bear market, all tokens took a hit, but BGB was one of the most resistant to this negative trend with a decline of 31.66% compared to 57.27% (BTC) or the extreme 75.36% of CRO. It continued to lead the recovery in Q3 with a profit of 42.05%, the highest out of all 9 tokens. We haven’t even mentioned that BGB is the only one to record a new all-time high in 2022, right? On October 21, 2022, BGB prices skyrocketed to US$0.22236, achieving a doubling in value compared to the US$0.1064 floor on January 21.
These historical data shows that BGB tends to be more resilient in tough times and able to maintain a steady growth in uptrend cycles. And when we dive deep into the subject, BGB did a great job maintaining its positive momentum. For monthly analyses of BGB price performance, please refer to the BGB Sail Series by Bitget Academy:
Below is a special chart demonstrating that BGB still has huge room for growth. The Market Cap To Exchange Transactions Ratio adopts the principle of NVT, assessing the exchange tokens with respect to each platform volume. Compared to other exchange tokens, BGB is extremely undervalued (at 0.51) as its market cap is still too small while Bitget has a place in the Top 3 exchanges by 24H volume (as of December 15, 2022).
At the end of the day, BGB is obviously destined to be the major blue chip exchange token. Period. It’s never too late to scoop up a big bag of BGB, and don’t forget to join fellow BGB holders on Telegram to not miss any exclusive events!
Simply create an account, and start exploring the incredible Bitget-Verse today!
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