BGB Coin Up 2% Today, Bitget launches Zero Trading Fee campaign along with 1M BGB prize pool

  • Bitget is a centralized cryptocurrency exchange established in 2018 and registered in Singapore.
  • Currently, there are 296 coins and 354 trading pairs available on the exchange.
  • The most active trading pair is BTC/USDT with a 24h volume of $139,238,751.39

Bitget, a cryptocurrency trading platform, has announced a zero Trading Fee campaign for all spot trading pairs. Additionally, the company has announced a 1 million BGB prize pool among other perks for its customers. Consequently, the BGB coin is up approximately 2 percent on Tuesday to trade at around $0.153 according to our market.

Through this initiative, the cryptocurrency firm seeks to attract more customers who enjoy zero trading fees. Moreover, Binance tried the same thing with Bitcoin and now enjoys the top trading volume position.

Gracy Chen, Managing Director of Bitget, says, “Even in volatile markets, investor interest in cryptocurrency is high. By eliminating trading fees and pioneering exclusive incentives, Bitget hopes to not only benefit professional investors with high trading volumes but also offer new entrants a way to get into and derive benefit from the market.”

Gracy added that Bitget’s $200 million protection fund addresses major concerns in the cryptocurrency market. Bitget users earn rewards through BGB token staking among other use cases. 

Bitget and the Cryptocurrency Market 

Cryptocurrency exchanges have recorded a sharp uptick in competition for the past few years as markets grow. In a bid to retain customers, cryptocurrency exchanges have introduced their tokens to reward loyal customers. 

Notably, Bitget is a centralized cryptocurrency exchange established in 2018 and is registered in Singapore. Reportedly, the cryptocurrency exchange currently supports 296 coins and 354 trading pairs.

The most active trading pair is BTC/USDT with a 24h volume of $139,238,751.39. The company has 2 million users in about 50 countries around the world, thereby making it one of the fastest-growing cryptocurrency exchanges.

The digital asset industry is experiencing a high level of liquidation as Bitcoin price trades below $20k. Cryptocurrency exchanges are seeking ways to make a profit in volume despite a recent report that Bitcoin trading volume may be inflated to lure more investors.

Furthermore, there is no easy way of consolidating and verifying the total trading volume reported by all cryptocurrency exchanges. As such, the industry is left to rely on data provided by several websites including Coinmarketcap and Coingecko.

Bitcoin and other digital asset trading have attracted investors seeking to profit from the high volatility. The crypto market can record over 20 percent in trading differences per day, while the traditional stock market cannot click to such a level.

A perfect example is the GameStop saga that saw trading of its stock closed after a short squeeze by retail investors. In the cryptocurrency market, there are minimal regulations regarding the extreme level of accepted volatility. Hence allowing cryptocurrency exchanges to benefit from high-level liquidation.

Bitget intends to keep and attract more customers by helping traders reduce their friction while doing in-app trading, which is facilitated by the BGB token.

susan keith
Susan Keith Verified Author

I'm passionate about cryptocurrency. I began following the development of Bitcoin and other digital currencies in early 2013, and quickly became fascinated by the potential of this new technology. In the years since, I've followed the rise of the crypto industry with close attention, and written extensively on the subject. .

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