Bitget Wallet has achieved a remarkable milestone, doubling its user base to 30 million within less than a year.
In July 2024, Bitget Wallet set a new record for global app downloads, surpassing even Metamask’s growth for that month. With over 1.7 million downloads, Bitget Wallet’s growth was 140% from the previous month.
Meme Coins, TON Ecosystem, and BWB Token: Key Drivers for Bitget Wallet’s Growth
This surge is largely fueled by the platform’s advanced on-chain trading capabilities, particularly for the meme coins. In 2024, Bitget Wallet became one of the top wallets in the meme coin ecosystem. It offers features such as smart money tracking on the Solana and Base chains, automatic slippage, zero gas fees, and an instant trade mode.
TON ecosystem has also gained traction. It has become the most transacted network on Bitget Wallet, surpassing established public chains such as Polygon, Arbitrum, and BNB Chain.
Bitget Wallet’s User Growth. Source: Courtesy of Bitget Wallet
The recently launched BWB token has also significantly contributed to growth by serving various roles within the Bitget Wallet ecosystem. BWB is now central to community governance, staking, and gas fee payments across multiple chains. Moreover, its introduction has increased user engagement and broadened the platform’s reach, particularly in key markets such as Japan and Nigeria.
The wallet saw the most significant growth rates in Europe, North America, and Oceania, with notable user growth in Russia, Italy, Sweden, and Australia. These countries experienced growth rates exceeding 40 times compared to the previous year. In France, the UK, Turkey, and Canada, user numbers have also surged by over 1,000%.
Alvin Kan, COO of Bitget Wallet, highlighted that this global expansion showcases the platform’s ability to adapt to diverse markets and meet users’ growing demands worldwide. He stressed the company’s commitment to expanding its market presence and propelling the whole industry forward.
Bitget Wallet’s growth aligns with a broader trend in the decentralized finance (DeFi) ecosystem. According to DappRadar, Web3 application users reached a record high in Q2 2024, with daily unique active wallets (dUAW) hitting 10 million.
Unique Active Wallet in Q2 2024. Source: DappRadar
This figure represents a 40% increase from Q1 and marks the highest number of active wallets to date. This surge in wallet usage across the DeFi space reflects a growing interest in decentralized applications (dApps) and the increasing adoption of Web3 technologies.
Making Web3 User-Friendly to Tackle Complexity
Despite the significant growth, Kan acknowledged that one of the main challenges in the Web3 space is the complexity of user experience (UX) and user interfaces (UI). Web3 users are often required to navigate through multiple steps, sometimes involving complex blockchain jargon and processes.
Kan believes such a complexity can be daunting. This is especially true for new users who are more accustomed to the seamless, intuitive interfaces of Web2 applications.
“We need to make sure that UI/UX is done like Web2. Web2 has really done it very well. And that shouldn’t be an excuse for why we can’t do it in Web3. I think this has to do with certain things, like better talent coming from Web2 to Web3 to increase the products’ UIs,” Kan explained to BeInCrypto in an interview.
Hence, to overcome this challenge, Bitget Wallet has introduced several features to enhance user experience. One such innovation is integrating a Multi-Party Computation (MPC) wallet, which simplifies the wallet creation and management process.
Traditional wallets require users to manage multiple private keys. Conversely, the MPC wallet simplifies this process, offering a more straightforward and secure experience.