Coin columns · Ethereum City (Capital)
Bitget’s BGB: From Fee Discounts to an L2 Gas Token
An exchange token reshaped by big burns and the Morph chain
BGB (Bitget Token) is the exchange token issued in July 2021 by the crypto exchange Bitget. It started out mainly as a fee discount and event pass, and since 2025 it has also served as the gas token of Morph, an Ethereum L2.
1. Who issues it
Bitget is a centralised exchange, meaning the company holds customer assets, founded in 2018 and known for derivatives such as futures and for copy trading, where users mirror other traders. BGB is an ERC-20 token on Ethereum whose uses and supply policy are set by the company. Like other exchange tokens, it gives perks inside the exchange but is not a share in the company.
Holders get trading fee discounts, access to Launchpool and Launchpad token distributions, and membership perks. The company’s Bitget Wallet app also lets users pay gas on many chains with BGB and other tokens. On the Crypto Nation map, BGB stands in Ethereum City (the capital), because it was first issued on Ethereum.
2. Burns and supply
In December 2024 Bitget burned 800 million of BGB’s two billion tokens, sending them to an unusable address and cutting supply to 1.2 billion. Around the same time it said Bitget Wallet’s BWB token would be merged into BGB, uniting the exchange and wallet tokens.
Bitget later said it would buy and burn BGB each quarter with part of the profits of its exchange and wallet businesses. These burns are company policy, not rules enforced by on-chain code, so whether and how much is burned must be checked in company records and block explorers.
3. The Morph chain
In 2025 Bitget turned BGB into the gas and governance token of Morph, an Ethereum L2 focused on everyday payments and consumer apps. Morph is a rollup, which batches transactions and records the results on Ethereum, and part of Bitget’s BGB holdings moved to the Morph Foundation. BGB now lives on both Ethereum and Morph.
Exchange tokens serving as gas on their own or partner chains is a familiar pattern: BNB powers BNB Chain, and OKB powers OKX’s L2, X Layer. Whether Morph attracts steady use, and so real demand for BGB as gas, remains to be seen.
4. Things to know
BGB’s uses and burns depend heavily on one company’s business and decisions, so changes in Bitget’s results or regulation could change the token. Bitget does not serve users in some countries where it lacks a licence, such as the United States.
Centralised exchanges carry operational risks such as hacks, frozen withdrawals and cancelled trades. In April 2025 Bitget reversed some trades in one futures market, citing abnormal activity, which angered users. Supply and holdings are also concentrated with the company and related parties.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.