Bitget Wallet, a non-custodial crypto wallet, has now surpassed 40 million users, achieving more than 100% growth since March 2024. In September alone, the app was downloaded nearly 6 million times, making it the second most downloaded cryptocurrency application globally, just behind Binance.
Bitget Wallet Reaches 40 Million Users in Growing Web3 Space
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Bitget Wallet Gains 6M Downloads in September Sparked by TON Engagement
As per the team’s statement, Bitget Wallet’s rise underscores the increasing preference for decentralized solutions in the crypto space. With the collapse of various centralized exchanges ( cexs), more users have turned to decentralized exchanges (dexs) and wallets, which offer enhanced control over assets. The wallet’s user base grew significantly in regions like Africa and South Asia.
The company attributed this expansion to its integration with the Telegram Open Network (TON) ecosystem, allowing seamless access to decentralized services through the popular messaging platform. In the third quarter of 2024, the wallet saw a 4,886% increase in TON onchain addresses. According to Bitget, this surge aligns with a broader trend of decentralized wallets becoming a gateway to Web3 for new users, particularly through user-friendly platforms.
“The crypto industry seems to be heading towards a hybrid model where both cexs and dexs co-exist. While centralized exchanges will likely retain their dominance due to regulatory compliance and user familiarity, decentralized wallets and exchanges are quickly catching up,” Alvin Kan, Bitget Wallet’s COO told Bitcoin.com News.
Centralized exchanges have historically led the market due to their liquidity and ease of use, but decentralized technologies are catching up quickly. Innovations such as layer two (L2) scaling solutions have boosted the performance of dex platforms, cutting fees and speeding up transactions. Bitget Wallet’s continued growth, coupled with its strategy of integrating Web2 and Web3, may position it as a potential challenger to traditional platforms like Binance and Coinbase.
What do you think about Bitget’s wallet growth? Let us know what you think about this subject in the comments section below.
