Bitget Launches New PoolX: Stake BTC and ETH to Mine BGB

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The cryptocurrency landscape continues to evolve, offering users innovative ways to generate passive income through staking and yield-generating platforms. One of the latest developments comes from Bitget, which has launched a new round of its popular PoolX staking initiative. This updated program allows users to stake BTC and ETH in exchange for mining rewards in the form of BGB, Bitget’s native utility token. With a total reward pool of 50,000 BGB, this limited-time opportunity is drawing significant attention from the crypto community.

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What Is Bitget’s PoolX?

PoolX is Bitget’s dedicated staking and yield-generation platform designed to help users earn rewards by locking up select cryptocurrencies. Each PoolX cycle features one or more staking pools where participants can deposit eligible assets—this time, Bitcoin (BTC) and Ethereum (ETH)—to earn BGB tokens based on their proportional contribution to the pool.

Rewards are distributed hourly, ensuring transparency and consistent returns throughout the campaign period. The system calculates each user’s share relative to the total amount staked across all participants, making it both fair and predictable.

This latest PoolX launch underscores Bitget’s ongoing efforts to enhance user engagement and provide accessible avenues for earning within the decentralized finance (DeFi) ecosystem.

Key Details of the New PoolX Campaign

The current PoolX campaign began on August 15, 2024, at 15:00 UTC+8, and will run until August 25, 2024, at 15:00 UTC+8—a 10-day window for participation. During this time, users can stake either BTC or ETH to start earning BGB rewards.

These caps ensure broader participation and prevent dominance by large holders, promoting a more equitable distribution of rewards.

Why Stake BTC and ETH?

Bitcoin and Ethereum remain the two most dominant cryptocurrencies by market capitalization and network security. While traditionally seen as store-of-value or foundational layer-one assets, both now offer yield opportunities through mechanisms like staking (in Ethereum's case) and third-party protocols such as PoolX.

By enabling BTC and ETH staking—even without direct proof-of-stake functionality on Bitcoin—platforms like Bitget unlock additional utility for long-term holders. Instead of letting assets sit idle, users can generate returns while maintaining exposure to price appreciation.

Moreover, earning BGB provides added value. As Bitget’s native token, BGB can be used for trading fee discounts, governance participation (in applicable cases), and access to exclusive platform features.

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Frequently Asked Questions (FAQ)

Q: Can I stake fractional amounts of BTC or ETH?

Yes, users can stake any amount up to the maximum limit—0.1 BTC or 3.5 ETH, for example. Rewards are calculated proportionally based on your contribution to the total pool.

Q: Is there a minimum staking requirement?

While the article does not specify an official minimum, most similar programs require at least a small threshold (e.g., 0.001 BTC or 0.01 ETH). Users should verify directly on the Bitget platform before initiating a deposit.

Q: How are BGB rewards distributed?

Rewards are distributed hourly. The system calculates each user’s share of the total staked amount every hour and credits the corresponding BGB tokens automatically.

Q: Do I retain ownership of my BTC and ETH during staking?

Yes. Staking on PoolX does not involve transferring ownership. Your assets remain yours, though they are locked for the duration of the campaign unless early withdrawal is permitted (not indicated in this round).

Q: What can I do with BGB tokens after earning them?

BGB can be used for reduced trading fees on Bitget, participating in token sales, or held as an investment. Some users also reinvest their BGB into future staking cycles.

Q: Is this staking option available globally?

While Bitget operates in many regions, availability may vary due to regulatory restrictions. Users should confirm service access in their jurisdiction before attempting to participate.

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Strategic Advantages of Participating in PoolX

Participating in this PoolX campaign offers several strategic benefits:

  1. Low Barrier to Entry: With support for fractional deposits and clear caps, even retail investors can participate meaningfully.
  2. Predictable Returns: Hourly distributions allow users to monitor earnings in real time, enhancing trust and transparency.
  3. No Need for Technical Setup: Unlike solo Ethereum staking, which requires running validators or using liquid staking derivatives, PoolX simplifies the process—users simply deposit and earn.
  4. Dual Exposure: Participants maintain full market exposure to BTC and ETH price movements while simultaneously earning BGB rewards.

This model reflects a growing trend in centralized exchanges offering hybrid DeFi-like experiences with improved usability and accessibility.

Final Thoughts

As the demand for passive income solutions in crypto grows, initiatives like Bitget’s PoolX play a crucial role in bridging traditional holding strategies with active yield generation. By allowing users to stake leading cryptocurrencies like BTC and ETH—assets not natively yielding rewards in most cases—Bitget enhances capital efficiency and user engagement.

With a generous 50,000 BGB reward pool and a well-structured distribution mechanism, this round of PoolX presents a compelling opportunity for both new and experienced crypto investors.

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