No.060
Bitget Token BGB
The exchange's membership-card spirit, two bodies merged into one
๐ญ A humble little membership card that burns a piece of itself each quarter to grow rarer
๐ฌ โShow me at the Bitget counter and your trading fees drop. Look a bit smaller than last quarter? That's normal. A little of me gets burned every three months, so there's always less to go around. ๐ฅโ
- A membership-card-style token for the Bitget exchange. Hold it, pay lower trading fees, get VIP perks.
- At the end of 2024 it swallowed the wallet token BWB, so now there's just one token instead of two.
- Bitget keeps buying it back and burning it. The official goal is to shrink the supply all the way down to 100 million.
๐ The Story
Think of BGB as the loyalty card the Bitget exchange hands you at the door. Bitget printed the first batch on 26 July 2021, as an ERC-20 token living on Ethereum. The pitch was simple: keep the card on you, and the exchange charges you less.
For a while Bitget actually ran two cards. BGB was for the exchange floor. A second one, BWB, was for the Bitget Wallet. Two cards for one company got confusing fast, so in December 2024 Bitget folded BWB into BGB. Holders swapped at 0.08563 BWB for every 1 BGB, all the old BWB was destroyed, and from then on a single card opened both doors. The glowing seam down the middle of our little character is the scar from that merge.
Then came the part everyone still talks about. On 30 December 2024, Bitget burned 800 million BGB in one go. That was 40 percent of everything in existence, gone. The reasoning is plain enough: the fewer cards floating around, the more each one is worth holding. Bitget says it will keep trimming the supply quarter by quarter, aiming for just 100 million someday. Whether the price follows is a separate question, but the shrinking is real and on the record.
๐ Stats
๐งฉ How it works
BGB has no blockchain of its own. It's a token that Bitget issued on top of Ethereum, so it borrows Ethereum's neighborhood (the blockchain) and just plays the role of a "membership card" inside it. That means its security and consensus follow Ethereum (proof-of-stake), and BGB's real power comes from the perks you get on the exchange and a policy of shrinking the supply through burns.
๐ Light & Shadow
- It does a real job. People hold BGB to pay lower fees and join launchpads, not just to speculate
- The supply genuinely goes down. Bitget already torched 800 million of them and keeps burning more each quarter
- The 2024 merge with BWB left one token instead of two, which is far less confusing for a newcomer
- Everything rides on one company. If Bitget runs into trouble, BGB feels it immediately (centralized issuer risk)
- The burns are a promise, not a law. Bitget chose this policy and could change or pause it whenever it wants
- The headline supply number jumps around between sites because some still show the old 2 billion cap and others show the post-burn figure
๐งฌ Evolution Lineage
BGB isn't a "fork" (a split-off) of another coin. It belongs to the "exchange token" family, so it's a sibling of tokens like BNB (Binance), OKB (OKX), and CRO (Crypto.com). Its family history is a little special, though: the wallet token BWB was absorbed into BGB in late 2024, leaving BGB as a single, unified token.
Other "exchange token" siblings: ๐ก BNB ยท OKB ยท CRO (only BNB is in the codex)
๐งญ Meet other friends
โ FAQ
- What is Bitget Token (BGB)?
- It's a membership-card-style token used on the global crypto exchange Bitget and on Bitget Wallet. Hold it and you get discounts on trading fees, plus access to launchpad events and VIP perks.
- Does it have its own blockchain?
- No. It's an exchange token issued by Bitget, so it has no chain of its own. It launched in 2021 as an ERC-20 token on Ethereum, and its security and consensus come from the host chain (Ethereum's proof-of-stake).
- What does it mean that it merged with BWB?
- There used to be two separate tokens: BGB for the exchange and BWB (Bitget Wallet Token) for the wallet. In December 2024 they were combined into one. Holders swapped at a rate of 0.08563 BWB = 1 BGB, all BWB was burned, and now everything runs on a single token: BGB.
- They 'burn' tokens, is that a good thing?
- Burning means destroying tokens forever so fewer of them exist. In December 2024 the team burned 40% of the supply (800 million tokens), and starting in 2025 they introduced a quarterly buyback-and-burn policy. Fewer tokens can mean more scarcity, but it does not guarantee the price goes up. (This is for information only, not investment advice.)
โ ๏ธ Not investment advice. All figures are for information only (MOCK ยท 2026-06-04).