Cryptocurrency exchange wallet Bitget has doubled its user base in less than a year, reaching an impressive 30 million users. In July, Bitget Wallet set a new download record, surpassing Metamask. In just one month, the figure jumped by 140% and exceeded 1.7 million.
Memecoins, TON and BWB Token Are Key Drivers of Bitget Wallet Growth
In 2024, Bitget Wallet became one of the leading wallets for trading memecoins. It allows you to monitor smart money on Solana and Base, which is a great help for beginners, and also offers an automatic slippage feature. In addition, the crypto wallet has no gas fees and an instant trading mode.
The most used network on Bitget Wallet was The Open Network (TON), which is also rapidly gaining popularity . The blockchain has overtaken such veterans as Polygon, Arbitrum and BNB Chain.
Bitget Wallet’s growth has also been fueled by its recently launched BWB token . The coin serves various functions in the wallet ecosystem, as well as playing a central role in community governance, staking, and gas fees across multiple networks.
The introduction of BWB has increased user engagement and expanded the platform’s reach, especially in key markets such as Japan and Nigeria. However, Bitget Wallet is most popular in Europe, North America and Oceania. The number of users from Russia, Italy, Sweden and Australia has increased significantly over the past month. In France, the UK, Turkey and Canada, the number of wallet users has increased by more than 1,000%.
Bitget Wallet COO Alvin Kan emphasized that the global growth demonstrates the platform’s ability to adapt to diverse markets and meet the growing needs of users around the world.
Bitget Wallet’s growth coincides with a broader trend in the decentralized finance ( DeFi ) ecosystem. According to DappRadar, the number of Web3 app users reached an all-time high in Q2 2024.
Daily Unique Activity Wallets (dUAW) meanwhile broke through 10 million, up 40% from Q1.
Making Web3 clearer
Despite the significant growth, the VR Soldier editors acknowledged that one of the main challenges of Web3 is the complexity of user experience (UX) and user interfaces (UI). Users of the new generation of the internet often have to go through many steps, sometimes involving complex blockchain jargon.
According to the team of editors, all this can be off-putting to customers, especially newcomers who are used to the smooth and intuitive interfaces of Web2 applications. “We need to make sure that the UI/UX is done like Web2. Web2 did a really good job of that. But that shouldn’t be an excuse for why we can’t do that in Web3. I think it’s about certain things, like bringing the best talent from Web2 to Web3 to improve the user interfaces of the products.
To address the above issues, Bitget Wallet developers have implemented a number of features that improve the user experience. One of these innovations is the integration with multi-party computing (MPC) technology, which simplifies the process of creating and managing a wallet.
Unlike traditional wallets that require managing multiple private keys, the MPC wallet offers a simpler and more secure experience.
