Bitget Wallet Reaches 30 Million Users

Bitget Wallet has achieved a major milestone by doubling its user base to 30 million within a year. This growth is driven by the rise of on-chain trading and the expanding decentralized finance (DeFi) ecosystem. The introduction of the BWB token and improvements in user interface and experience have also boosted user engagement globally. This increase in users aligns with the broader trend in Web3, where daily unique active wallets have seen significant growth in the second quarter of 2024.

In July 2024, Bitget Wallet set a record for global app downloads, surpassing Metamask's growth for the month with over 1.7 million downloads, a 140% increase from the previous month. This rapid growth is largely due to the platform’s advanced on-chain trading features, especially in the meme coin ecosystem, which have attracted a significant number of new users.

Bitget Wallet has become a leading platform for meme coins, offering features like smart money tracking on Solana and Base chains, automatic slippage, zero gas fees, and instant trade mode. These features make it an appealing choice for users interested in meme coins and on-chain trading.

The TON ecosystem has also played a key role in Bitget Wallet's growth, becoming the most transacted network on the platform, surpassing established public chains such as Polygon, Arbitrum, and BNB Chain. The launch of the BWB token has further contributed to growth by playing multiple roles in the ecosystem, including governance, staking, and gas fee payments. The token has increased user engagement and extended the platform’s reach in key markets like Japan and Nigeria.

The wallet has seen the most significant growth in Europe, North America, and Oceania, with notable increases in user numbers in Russia, Italy, Sweden, and Australia, where growth rates were more than 40 times higher than the previous year. Countries such as France, the UK, Turkey, and Canada also experienced user number increases of 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 growing user demands worldwide. He emphasized the company’s commitment to expanding its market presence and advancing the entire industry.

This growth is part of a broader trend in the DeFi ecosystem. According to DappRadar, Web3 application users reached a record high in Q2 2024, with daily unique active wallets hitting 10 million—a 40% increase from Q1 and the highest number of active wallets to date. This surge in wallet usage across the DeFi space indicates a growing interest in decentralized applications (dApps) and increasing adoption of Web3 technologies.

Despite the significant growth, Kan acknowledged that one of the main challenges in Web3 is the complexity of user experience (UX) and user interfaces (UI). Web3 users often face multiple steps and complex blockchain terminology.

Kan noted that such complexity can be intimidating, especially for new users used to the seamless, intuitive interfaces of Web2 applications. “We need to ensure that UI/UX is as good as Web2. Web2 has done it very well, and we can’t use it as an excuse for Web3. I believe better talent from Web2 to Web3 will improve product UIs,” Kan explained in an interview with BeInCrypto.

To address this challenge, Bitget Wallet has introduced several features to enhance the user experience. One such innovation is the integration of a Multi-Party Computation (MPC) wallet, which simplifies wallet creation and management. Traditional wallets require managing multiple private keys, but the MPC wallet simplifies this process, providing a more straightforward and secure experience.

Bitget Wallet’s growth to 30 million users in 2024 demonstrates the platform’s ability to thrive in the evolving DeFi ecosystem. By leveraging innovative features and expanding globally, Bitget Wallet is well-positioned to capitalize on the growing interest in Web3 technologies. As the platform continues to tackle UI/UX complexity, it is poised to attract even more users and contribute to the broader adoption of decentralized finance and blockchain technology.