Bitget User Guide: BGB Fee Deduction

2024-01-04 08:32089

Bitget, one of the leading cryptocurrency exchanges, offers users the opportunity to reduce their trading fees by using our native token BGB. This guide will help you understand how to utilise BGB to receive discounts on your transaction fees, specifically within spot and spot margin trading. By following the steps outlined below, you can maximise your savings and enhance your trading experience on Bitget.

Trading Categories Where BGB Fee Discounts Apply

Bitget currently provides a 20% discount on all spot transaction fees if users choose to pay with BGB. We do have a plan to introduce a similar policy for futures transactions in the future as well.

Spot Trading: You can use BGB to pay for transaction fees when you trade on the spot market. By doing so, you receive a 20% discount on the fees. The BGB used for this discount is deducted directly from your spot account.
Spot Margin Trading: For both cross margin and isolated margin trading within the spot market, the transaction fees can also be paid using BGB. However, for spot margin trading, the BGB needs to be in your cross margin account. The same 20% discount applies, but only if the BGB is available in the cross margin account.

How To Enable BGB Fee Deduction

1. Web Tutorial

Step 1: Sign up or log in to your Bitget account. Hover your pointer on your account profile and click on the [VIP] symbol.

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Step 2: Click on the button as marked below to turn on the BGB Fee Discount feature. That's it!

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2. App Tutorial

Step 1: Go to the main page of your Bitget App and tap on the grid icon on the upper left side.

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Step 2: Tap on the [VIP] icon below your profile name and UID.

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Step 3: Tap on the button as marked below and it's done.

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3. Important Notes

Once this feature is enabled, transaction fees for all your spot trades will automatically be deducted in BGB at the 20% discount.
For Spot Trading: Ensure you have BGB tokens in your spot account for transaction fees of your spot trades to be deducted in BGB automatically.
For Spot Margin Trading: You'll need to take some further steps below.
- Transfer BGB tokens to your cross margin account.
- Make sure the BGB Fee Discount feature is enabled for spot margin trading.
- The BGB in your cross margin account will then be used to pay for spot margin trading fees at a discounted rate.
If there isn’t enough BGB in your account at the time of the transaction, the entire fee will be paid in the trading currency (e.g., USDT, BTC), and you will not receive the discount.
The discount feature takes about 5 minutes to activate once it’s turned on.
We advise you to regularly check your BGB balance in the respective account (spot or cross margin) to ensure you can continue to benefit from the fee discounts.
Keep track of your transaction history to verify that the BGB deductions are being applied correctly.

By following this guide, you can effectively reduce your trading fees on Bitget by using BGB for both spot and spot margin trading. Remember to stay updated with the latest announcements to not miss any new features or changes to how BGB can be used on Bitget.