BGBTC: Unleash the Full Earning Potential of Your Bitcoin
With Bitcoin soaring past $100,000, the focus has shifted to maximizing asset yield and efficiency. Bitget introduces BGBTC (Bitget Wrapped Bitcoin), an innovative solution for Bitcoin holders. Backed 1:1 by Bitcoin (BTC) on Bitget, BGBTC is designed to help you earn more while keeping your assets flexible and secure.
Similar to Bitget's previous release, BGSOL, BGBTC offers an easy way for users to grow their Bitcoin holdings. By staking BTC, you can earn stable returns and collect BGPoints, which can be used to claim airdrops from various Bitcoin ecosystem projects. Whether you’re aiming for short-term profits or long-term investments, BGBTC ensures you maximize your BTC potential.
Highlights of BGBTC: A smart strategy for BTC growth
BGBTC combines automated intelligence with DeFi-native yields to grow your BTC holdings. This approach balances simplicity and high returns, offering a long-term solution for sustainable asset growth.
One-click staking
Forget complicated processes and high fees. With BGBTC, you can stake BTC in just one click and earn rewards without constantly monitoring the market. Let your BTC grow in the background while you focus on other strategic decisions.
Earn extra with BGPoints
To celebrate BGBTC's launch, a Pre-Launch campaign offers users 2% APR and double BGPoints (BGPoints are incentive points issued by Bitget, exclusively used to claim BGBTC locking incentives).
It is worth mentioning that when holding BGPoints, you can enjoy various exclusive benefits on Bitget, such as using BGPoints to claim future Bitcoin ecosystem projects (BTCFi) airdrops.
Early unlocking for maximum flexibility
Need liquidity? Bitget allows you to unlock your BGPoints early at market value, providing you with a flexible option to cash out your gains whenever you need them.
(Note: BGPoints will continue to accumulate during and after the Pre-Launch period but will only be visible when Season 1 launches, and redemption will only be available after that.)
Dual security by Bitget and Cobo
Your assets are secured by Bitget and Cobo using MPC wallets with multi-signature technology, ensuring no single party can alter transactions unilaterally.
Expanding Financial Flexibility and Earning Potential
BGBTC expands the flexibility and earning potential for BTC holders on Bitget to take advantage of the multi-faceted Web3 ecosystem.
BGBTC can later be used in various trading scenarios, including loan collateral and margin for futures trading. This exemplifies how BGBTC integrates staking and trading, making it a versatile asset for both long-term investors and active traders.
BGBTC Pre-Launch Promotion
The Pre-Launch is a warm-up event before the official launch of BGBTC. Its purpose is to allow users to understand the features of BGBTC and receive 2% APR and double BGPoints.
Promotion duration: December 9, 2024, 3:00 PM - January 8, 2025, 3:00 PM (UTC+8)
Promotion rules: Users who lock BGBTC during the promotion will earn 2% APR and double BGPoints. The additional APR will be distributed at the end of the promotion.
Phases:
(1) BGPoints Accumulation Period: December 9, 2024 3:00 PM - January 8, 2025 3:00 PM (UTC+8)
- BGPoints will officially launch on December 9, accumulating based on your locked BGBTC balance. These points serve as exclusive method to claim tokens from partner projects.
- Lock your BGBTC during this period to get double BGPoints and 2% APR. The locking limit is 1 BTC per user. Earnings will be credited to your spot account at the end of the promotion.
(2) Season 1: Starting January 9, 2025
- After the official launch of Season 1, all locked holdings will be migrated to on-chain. You can view your BGPoints accumulated during the pre-launch period on the Asset page.
- After season 1 is officially launched, you will also be able to freely stake, unstake and redeem BGBTC.
- Multiple partnerships will go live during Season 1, offering stackable benefits for BGPoints holders.
* Note: BGBTC subscribed during the pre-launch promotion will remain locked until the promotion concludes.
Stake BTC with Bitget's BGBTC for maximised returns!
Guide on using BGBTC (Web)
Log in to your Bitget account, under Bitget Earn, navigate to the BGBTC page.
1. When you are at the BGBTC homepage, click on 'Stake now'
2. Choose your preferred locking period, review the subscription details, and click 'Subscribe' to confirm.
3. Enter the amount (minimum 0.001 BTC, maximum 10 BTC), agree to the terms, and click 'Confirm'.
4. Upon completion, click My Subscriptions on the confirmation page to view your BGBTC holdings.
Guide on using BGBTC (APP)
Open the Bitget app, go to the 'Bitget Earn' section, select BGBTC, and tap on 'Stake now';
1. At the BGBTC page, enter the amount, agree to the terms, and confirm.
2. Enter the amount (minimum 0.001 BTC, maximum 10 BTC), agree to the terms, and click 'Confirm'.
3. Upon completion, click My Subscriptions on the confirmation page to view your BGBTC holdings.
Important Notes
1. BGBTC Fees
Since subscription and unlocking BGBTC involve blockchain network transfers, certain fees may apply.
A 0.05% fee of the subscription amount will be charged when subscribing to BGBTC with BTC. Conversely, a 0.05% fee of the unlocked amount will be charged when redeeming BGBTC for BTC. These fees are subject to change based on blockchain network congestion. You can view the fee details on the confirmation page before subscribing or unlocking your assets (Note: Subscription and redemption fees are waived during the pre-launch phase.)
2. What is the difference between Pre-Launch and BGBTC?
You can think of this Pre-Launch as a "trial version" before BGBTC is officially launched. It is designed is to allow users to explore BGBTC's features while earning double BGPoints and 2% APR during this period.
● During the Pre-Launch, your locked BGBTC cannot be withdrawn to the blockchain.
● During the Pre-Launch, your locked BGBTC cannot be redeemed.
3. What is the difference between unlocking and redeeming?
Unlocking refers to the process of unstaking your staked BGBTC. This process depends on the time it takes for the partner to unstake on-chain, which usually takes about 7 days.
Redemption refers to the process of converting your BGBTC into BTC, which happens on the Bitget platform, it takes about 1 hour.
4. About BGPoints
● BGPoints are incentive points issued by Bitget, exclusively used to claim BGBTC locking incentives.
● BGPoints will be displayed in your Assets page. The system will update daily during a fixed time period. After the Pre-Launch period ends, BGPoints will continue to accumulate and will become publicly visible in Season 1.
● BGPoints will not be lost. Even if you redeem your BGBTC, your BGPoints will remain on your Assets page. Once officially launched, you can either choose to convert BGPoints early or hold them until tokens from the underlying projects are airdropped to your account. Once converted or after all token airdrops are distributed, BGPoints will be reclaimed by the platform.
● You can convert BGPoints early, but this option is only available after fully redeeming BGBTC assets. Early redemption will be calculated based on the current market valuation of the associated project’s points, and the exact redemption rate will be displayed on the page when you click Redeem early. The specific launch time for this feature will be announced later.
Why Choose BGBTC?
BGBTC simplifies complex processes and merges innovation with ease of use. Whether you’re aiming for steady returns or exploring decentralized finance, BGBTC helps you align your investments with your financial goals.
For Bitcoin holders, BGBTC is more than a growth tool—it’s an intuitive and rewarding experience. From exclusive airdrop opportunities to collateralized investments, BGBTC unlocks a future where short-term rewards and long-term success go hand in hand.
Stake BTC with Bitget's BGBTC for maximised returns!
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