Bitget Wallet hits 40M users with 6M downloads in September, driving growth in decentralized crypto services and Web3 integration.
Bitget Wallet, a non-custodial crypto wallet, has exceeded 40 million users, marking a milestone with over 100% growth since March 2024. In September alone, the app was downloaded nearly 6 million times. As a result, it has positioned itself as the second most downloaded cryptocurrency application globally, just behind Binance.
This increased downloads and users show a shift towards a more decentralized model in cryptocurrency. The recent failures of several CEXs have led to a change of focus towards DEXs and wallets that give users greater control over their funds. Bitget Wallet has shown especially active growth in Africa and South Asia, where decentralized services are in great demand.
It also contributes part of its success to being a part of the Telegram Open Network (TON) ecosystem. By integrating users directly to decentralized services that can be accessed through Telegram, Bitget Wallet has accessed a large market on the messaging platform. Data from the third quarter of 2024 showed that Bitget Wallet had a phenomenal 4,886% on-chain TON address. This growth aligns with the general trend that d-wallets are emerging as the main on-ramp for new users to the Web3 ecosystem, a friendly interface.
Bitget Wallet Bridges Web2 and Web3 for Seamless Crypto Experience
While speaking to Bitget Wallet’s COO, Alvin Kan, he pointed out that the future would blend CEXs and DEXs. He pointed out that centralized exchanges will continue to dominate the market thanks to regulatory concerns, but decentralized counterparts are quickly gaining market share.
In the past, centralized exchanges have dominated the market due to their popularity and user-friendly approach. But thanks to the developments of layer two (L2) scaling solutions, decentralized exchange platforms’ efficiency is constantly enhancing. These innovations eliminate transaction costs and improve transaction velocity, making decentralized platforms more viable.
This means that Bitget Wallet’s approach to combining Web2 (conventional internet) and Web3 services can put it on the map as a significant competitor to conventional platforms like Binance and Coinbase. Opening a smooth and seamless connection between these two worlds, Bitget Wallet is positioning itself to expand even more as the need for decentralized services increases.
Ultimately, as the industry evolves, platforms like Bitget Wallet could play a crucial role in bridging the gap between traditional and decentralized finance.
