KEY POINTS
- The wallet now has 40 million users worldwide, with much growth in Q3 attributed to the African region
- Bitget Wallet was the second most downloaded crypto app worldwide in September, ahead of Bybit and OKX
- The latest data signals that decentralized wallets are now catching up with centralized platforms: Bitget Wallet COO Alvin Kan
Leading non-custodial cryptocurrency wallet Bitget Wallet posted a whopping 100% user base growth from March through September 2024 and also became the second most downloaded crypto app worldwide last month, trailing only behind top crypto exchange Binance.
The development positions Bitget Wallet as an emerging Web3 onboarding gateway over most top crypto exchanges such as Coinbase, Bybit and OKX.
Growing User Base by 100% Since March
Aside from recording 5.8 million in app downloads worldwide in September, Bitget Wallet also announced Tuesday that it has now passed 40 million in users globally, marking an increase of over 100% in user growth in the last six months.
With the latest milestone, Bitget Wallet has positioned itself as the fastest-growing decentralized wallet in 2024. It also exemplified the growing demand for decentralized solutions beyond crypto exchanges, positioning them as the primary entry points of Web2 users into the burgeoning Web3 world.
"Surpassing 40 million users is a testament to our vision of making crypto accessible to everyone, everywhere. Bitget Wallet registered nearly six million downloads in a month, closing in on top exchanges signaling that decentralized wallets are catching up with centralized platforms, and we're excited to be leading this shift," Alvin Kan, Bitget Wallet's COO, said in a statement shared with International Business Times.
The Driving Forces Behind Bitget Wallet's Explosive Growth
The wallet's impressive growth in the past six months is attributed to the following factors:
- User-friendly interface – The crypto wallet's intuitive user interface, partnered with robust product features, made decentralized finance accessible and easy to understand, particularly for first-time crypto users. Such ease of access is crucial for new joiners from the Web2 space.
- Seamless integration of Web3 in 1 app – Bitget Wallet merges the integrity of Web3 in one app, including swaps, crypto trading, staking, asset management, launchpads, and a dApp explorer, allowing new users to explore the various benefits of entering the Web3 space within a single platform.
- TON and Telegram integration – A key driver for this year's growth was Bitget Wallet's integration with the TON (The Open Network) ecosystem and encrypted messaging platform Telegram. Notably, the wallet saw a staggering 4,866% growth in TON on-chain addresses in the third quarter alone.
- Massive growth in Africa – The wallet saw the strongest user growth in Q3 in Africa (413% spike). Other non-western regions also posted strong user growth, including South Asia (126%) and the Middle East (105%).
Since its founding in 2018, Bitget Wallet has established itself as a comprehensive hub for Web3 users. With over 20,000 dApps, over a hundred blockchains supported, and millions of tokens on-chain, the wallet is fast positioning itself as one of the industry's largest decentralized marketplaces.
The easiest way to trade #TON coins is here! 🔥 @ton_blockchain
— Bitget Wallet 🩵 (@BitgetWallet) October 13, 2024
Our Swap now supports TON cross-chain bridges, letting you swap any mainnet coin for TON assets in one-click. Any time, anywhere!
Try it now on #BitgetWallet 🚀 pic.twitter.com/E7yqvL6yHJ
Bitget Wallet – Evolving Into a Gateway for Web3 Entrants
In a Web3 world where consumers search for improved connectivity and better solutions for decentralized financial needs, Bitget Wallet is at the forefront.
"The future of Web3 depends on how effectively we bridge the gap between Web2 and Web3. By integrating with platforms like Telegram, we're simplifying crypto adoption for mainstream users and creating tools that enable seamless interaction with decentralized platforms," Kan said.
"Decentralized wallets will evolve to serve as one of the primary entry points for billions of new users exploring Web3 for the first time," he projected.
Bitget Wallet is proving this as early as now. In the third quarter alone, swap activity on the wallet grew 125%, and dApp activities saw a 128% surge. Token transfers also saw a significant 175% jump, further cementing the wallet's place in the heart of the DeFi evolution.
