Bitget Announces Launch of BGBTC, Wrapped Bitcoin Token Backed by 1:1 BTC Reserves

Bitget Announces Launch of BGBTC, Wrapped Bitcoin Token Backed by 1:1 BTC ReservesBitget Announces Launch of BGBTC, Wrapped Bitcoin Token Backed by 1:1 BTC Reserves

VICTORIA, Seychelles, Dec. 11, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s main cryptocurrency alternate and Web3 firm has launched its native Wrapped Bitcoin (BGBTC), offering incomes alternatives for Bitcoin (BTC) holders. The newly launched characteristic supplies a brand new route to maximise the potential of customers’ BTC holdings by means of versatile staking choices, and elevated rewards. BGBTC is backed by BTC on a 1:1 foundation, sustaining its worth parity and guaranteeing seamless integration into the broader ecosystem. It is designed to activate further worth for BTC holders, enabling them to take part in DeFi alternatives whereas preserving their Bitcoin publicity.

During the pre-launch section from December 9, 2024, to January 8, 2025, customers can stake BTC on Bitget to obtain BGBTC tokens. This is complemented with double BGPoints rewards alongside an extra 2% annualized return, paid out in a lump sum on the finish of the interval. Following this, Season 1 will formally kick off on January 9, 2025, with options like enhanced BGPoints advantages, versatile redemption choices, and partnerships with BitcoinFi platforms.

“The rapid growth of the crypto industry worldwide, particularly in the Bitcoin ecosystem, inspires us to innovate continuously. BGBTC aligns with our goals of providing better solutions for our users, making their trading experiences smarter. It allows them to engage more deeply with Bitcoin, access higher yields, and participate in DeFi ecosystems previously out of reach,” stated Gracy Chen, CEO at Bitget.

BGBTC simplifies the method of incomes further returns for BTC holders. By staking BTC, customers obtain BGBTC tokens, which grant entry to a number of income streams, together with mounted annualized returns, BGPoints, and upcoming options like lending. Users can simply redeem their BTC throughout Season 1, guaranteeing most flexibility in managing their property.

Bitget is concentrated on guaranteeing a safe and rewarding expertise for its customers. BGBTC provides a simple one-click staking mechanism with a number of avenues for returns, together with token airdrops by means of collaborations with DeFi companions. Security is fortified by twin insurance coverage from Bitget and Cobo, together with multi-signature protections, guaranteeing that every one funds stay protected.

With options reminiscent of LaunchPool, PoolX, early BGPoints settlements, and staking-based lending on the horizon, BGBTC marks a brand new chapter in Bitget’s mission to drive crypto adoption by means of innovation.

For extra data on BGBTC, please go to here.

About Bitget

Established in 2018, Bitget is the world’s main cryptocurrency exchange and Web3 firm. Serving over 45 million customers in 150+ international locations and areas, the Bitget alternate is dedicated to serving to customers commerce smarter with its pioneering copy buying and selling characteristic and different buying and selling options, whereas providing real-time entry to Bitcoin price, Ethereum price, and different cryptocurrency costs. Formerly often known as BitKeep, Bitget Wallet is a world-class multi-chain crypto pockets that gives an array of complete Web3 options and options together with pockets performance, token swap, NFT Marketplace, DApp browser, and extra.

Bitget is on the forefront of driving crypto adoption by means of strategic partnerships, reminiscent of its function because the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, in addition to a worldwide accomplice of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball nationwide crew), to encourage the worldwide neighborhood to embrace the way forward for cryptocurrency.

For extra data, go to: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset costs could fluctuate and expertise value volatility. Only make investments what you possibly can afford to lose. The worth of your funding could also be impacted and it’s doable that you could be not obtain your monetary targets or be capable to get better your principal funding. You ought to all the time search unbiased monetary recommendation and contemplate your individual monetary expertise and monetary standing. Past efficiency isn’t a dependable measure of future efficiency. Bitget shall not be responsible for any losses chances are you’ll incur. Nothing right here shall be construed as monetary recommendation.

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