Bitget Wallet, a leading non-custodial Web3 wallet, has experienced impressive growth, recording almost 6 million app downloads in September 2024. This surge makes it the second most downloaded crypto app globally, just behind Binance. Bitget Wallet’s user base surpassed 40 million, growing over 100% since March 2024, solidifying its position as the fastest-growing decentralized wallet this year.
Key Factors Driving Bitget Wallet’s Success
The wallet has multiplied primarily due to its convenient functionality, which helps new users approach decentralized finance. Bitget Wallet has provided one-stop access with the functionality of asset management, staking, swaps, and a DApp explorer.
Notably, the integration with the TON ecosystem and Telegram has connected Web2 and Web3 and eased access to wallet services. Moreover, in Q3, the Bitget Wallet activity increased by 4886% for TON addresses, thus indicating an uptrend in decentralized wallet usage.
Emerging markets have been key to Bitget Wallet’s growth. During Q3, the wallet recorded a 413% user increase in Africa, followed by 126% in South Asia and 105% in the Middle East. This surge highlights the wallet’s smooth onboarding process, which appeals to new crypto users and makes it a leading entry point into the decentralized space.
Decentralized Wallets as the Gateway to Web3
The continual expansion of Bitget Wallet demonstrates that decentralized wallets are slowly transforming into the primary entry points into Web3. These wallets are slowly being attached to Web2 platforms to improve their functionality and operations. However, the concern is the user retention problem, as wallets have to guarantee the further usability of the applications.
Alvin Kan, Bitget Wallet’s COO also shared his remarks on the news milestone of Bitget surpassing 400 users, stating,
“Surpassing 40 million users is a testament to our vision of making crypto accessible to everyone, everywhere. Bitget Wallet registered nearly 6 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. Our mission is clear: to provide a secure and user-friendly gateway to Web3 for the next billion users.”
Founded in 2018, Bitget Wallet has developed substantially, supporting over 100 blockchains and 20,000 DApps, making it one of the largest decentralized wallets. The swap feature expanded by 125% in Q3, and token transfer increased by 175%, which showcases increased acceptance. Security features such as keyless MPC wallets and a $300 million user protection fund enhance users’ security.
