Bitget’s COO Explains How They Rose to the Top 4 in Crypto

Vugar Usi Zade, COO of Bitget, shared insights into the exchange’s rapid rise to the fourth-largest global crypto platform despite the fierce competition. During an exclusive interview at Token2049 in Singapore, he explained how Bitget’s strategies, the success of Bitget Wallet, and the growing appeal of meme coins have contributed to the company’s current position.

Bitget’s growth stands out, especially given the overall stagnation in the crypto market cap. This has led to a scenario where exchanges are fiercely competing to capture and retain users from a finite market. The focus has shifted to delivering unique services and features that differentiate Bitget from its competitors.

Vugar highlighted Bitget’s ability to attract and retain users in a market where user loyalty is fleeting. He emphasized that crypto users frequently switch between platforms due to the ease of moving assets and the competitive nature of transaction fees. An average trader may have 3-4 different apps on their devices, choosing which to use based on fees, token availability, and customer experience.

“Switching between exchanges is just a click away for users,” he noted, underlining the importance of delivering a seamless experience. Bitget’s strategy has been to build a robust ecosystem that can satisfy both novice users and seasoned investors. By offering more services and a wider range of tokens, the exchange aims to stay relevant in a highly competitive space.

Bitget Wallet’s rapid growth has been a key driver for the company’s expansion, especially in emerging markets like Nigeria, Southeast Asia, and Latin America. In July, Bitget Wallet topped the App Store charts in Nigeria, surpassing MetaMask in downloads. The wallet’s ease of use, extensive project listings, and rewarding opportunities have made it a preferred choice in regions where crypto adoption is accelerating.

After acquiring and rebranding BitKeep to Bitget Wallet, the goal was to create a comprehensive decentralized solution that would appeal to a broad audience. Now, Bitget Wallet lists over 23,000 projects, far exceeding the 800-900 available on the main exchange. This extensive variety has attracted users looking for investment options beyond centralized platforms.

Moreover, the wallet offers unique earning opportunities, such as airdrops and social engagement tasks. These features have proven especially appealing in lower-income regions, where many users are looking to supplement their income. This approach has helped Bitget Wallet dominate in countries where crypto adoption is driven by a desire for financial independence.

The global economic downturn has significantly impacted crypto investing patterns, particularly in developed economies like the US and Japan. According to Usi Zade, recession and rising unemployment have resulted in a decrease in disposable income, causing investors to shift their strategies.

He identified two prominent trends: first, a preference for long-term investments using Dollar-Cost Averaging (DCA) in large-cap tokens such as Bitcoin and Ethereum. Second, a growing interest in high-risk, high-reward opportunities like meme coins and early-stage projects that offer potential 10x or 20x returns.

This shift in investor behavior is particularly evident in developing markets, where Bitget Wallet has seen strong adoption. Users are often drawn to the “get rich quick” mentality, which has been a part of the crypto narrative since its inception. As a result, the appeal of high-volatility assets like meme coins remains strong, even in uncertain economic conditions.

Meme coins have emerged as a key attraction in the current market cycle. Bitget was one of the first major exchanges to list these assets, recognizing their potential to drive user engagement and transaction volumes. Usi Zade emphasized that meme tokens align with the ‘get rich quick’ sentiment that is still prevalent among many crypto enthusiasts.

While he acknowledges the risks involved, he believes that meme coins are here to stay as long as they continue to generate interest and liquidity. However, he advises investors to approach these assets cautiously, noting that 90% of those who invest in meme coins end up losing money. For this reason, Bitget takes a balanced approach, promoting these tokens while ensuring that users are aware of the potential downsides.

Football has become a core component of Bitget’s marketing strategy. Over the last two years, the exchange has made a name for itself through high-profile partnerships with global icons like Lionel Messi and top-tier clubs like Juventus. These collaborations have helped Bitget establish a strong brand identity in the crowded crypto landscape.

Now, Bitget is set to become the official sponsor of La Liga, Spain’s premier football league. This move will allow Bitget to connect with a global audience of over 2.5 billion people, leveraging the universal appeal of football to strengthen its presence in both developed and emerging markets. Fans can expect to see Bitget branding across matches, teams, and stadiums, further solidifying its status as a major player in the crypto world.

Bitget’s rise to the fourth-largest exchange is a testament to its ability to adapt and innovate in response to changing market dynamics. By focusing on underdeveloped regions, promoting decentralized solutions, and embracing high-risk opportunities like meme coins, Bitget has secured a prominent position in the industry.

Looking forward, its success will depend on its capacity to evolve with the market, continue investing in branding, and offer unique features that appeal to the next generation of crypto users. Bitget’s ongoing commitment to innovation and strategic partnerships will likely play a crucial role in its future growth and market leadership.