The drama surrounding FTX is still in full swing, which means that exchanges are jumping on top to convince the public of their platform. The reputation of the industry has been dented, but that gives good parties the opportunity to show themselves. Bitget hopes to be one of the winners of this period.
Earn Bitcoin at Bitget
On November 24, Bitget will open the option to stake BGB in the Bitget Launchpool. You can participate from 1 dollar. The Bitget Launchpool ends on November 30. The exchange platform puts a total of 3 bitcoin in the pot for participants.
Those bitcoin are ultimately distributed among the people who participate in the strike. Your earnings are calculated based on how long your BGB Coins are in the launch pool. The nice thing is that the rewards are paid out every hour.
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During the event you can therefore always choose to get out and no longer participate. The idea of the Bitget Launchpool is, of course, to attract people to the platform by handing out free money.
How can I participate?
You can join by create an account and thus go through the verification. Like all major exchange platforms, Bitget has a KYC procedure. You must, among other things, have an identity document verified. From the main menu of the fair, click on ‘Earn’ and then on ‘Launchpool’.
Then you choose the pool that attracts you the most and stake your tokens. The rewards will be deposited directly into your spot wallet. You can then immediately trade with the rewards or, for example, remove them from the platform. The amount of your reward also depends on the extent to which other people participate in the promotion.
The more people participate and stake in the pool, the lower the reward and vice versa. You can only strike with the Bitget Token (BGB). At the time of writing, the Bitget Token has a market cap of $26 million.
What is the Bitget Token?
The Bitget Token is a relatively small exchange token. For example, if you put it next to Binance’s stock token, the market cap is completely dwarfed. That does not alter the fact that the fair can grow with these kinds of fun promotions. However, do not get too excited about this, because there are also risks associated with exchange currencies. Consider, for example, the drama that took place around FTX.
To prevent Bitget from draining as FTX did, it has created a $300 million protection fund. There are more than 6,500 Bitcoin in that fund and the rest is currently supplemented with USD Tether (USDT). It is also nice to mention that the Bitget Token has recorded a plus of 84.38 percent since the beginning of the year.