Emerging Markets in Africa and Asia Downloaded Bitget Wallet More Than Major Centralized Exchanges
VICTORIA, Seychelles, Oct. 17, 2024 (GLOBE NEWSWIRE) — Bitget Wallet, the leading Web3 non-custodial wallet, has surpassed 40 million users, doubling its user base in just six months. The wallet also climbed to the second spot in global crypto app downloads for September, with nearly 6 million downloads in that month alone, closing in on Binance. This explosive growth is largely contributed by emerging markets, where Bitget Wallet’s user base has skyrocketed. Notably, Bitget Wallet’s user growth rate in Africa reached 413% and South Asia saw a 126% increase. These regions are turning to decentralized wallets as vital tools for financial independence and easy access to crypto services, often filling gaps left by centralized financial systems.
In countries like Nigeria, where Bitget Wallet’s user growth rate hit 468% in Q3 2024, rising inflation and weakening currencies have led to increased adoption of decentralized wallets as secure, reliable financial tools. According to Bloomberg, the local naira currency has lost about 70% of its value since May 2023. As a result, people are seeking alternatives to preserve their wealth and participate in stable financial systems. Bitget Wallet serves this need, offering easy access to crypto assets and rewards with all-rounded trading and earning features, making it No. 1 on the App Store in Nigeria in June 2024.
In Southeast Asia, Play-to-Earn (P2E) games once dominated the blockchain gaming landscape, attracting a young, tech-savvy audience. However, the trend has evolved towards Tap-to-Earn (T2E) games within Telegram ecosystem. T2E games are more accessible, requiring no separate app downloads or upfront NFT investments. Their simplicity, combined with Telegram’s referral system, has facilitated easy onboarding of new users, making Telegram a fertile ground for blockchain gaming.
In Q3 2024, Bitget Wallet experienced a surge in user growth, particularly in the Philippines and Vietnam, with growth rates of 102% and 73%, respectively. This spike is attributed to the T2E trend, where users earn money by engaging with Telegram mini-games. The shift from P2E to T2E highlights a broader trend towards more integrated blockchain ecosystems, showcasing how gaming apps and social interactions are driving cryptocurrency adoption among younger generations.
With its remarkable growth, Bitget Wallet aims to be the ultimate gateway for the next billion users to Web3, bringing together the best and latest opportunities in one seamless app. “We believe Web3 offers unprecedented potential for financial freedom, security through self-custody, and a more equitable future. Our mission is to make Web3 easy and accessible for everyone. We’re committed to bringing financial inclusion to regions where centralized financial systems fall short and giving people seamless tools to participate in a global decentralized economy,” said Alvin Kan, COO at Bitget Wallet.
India’s crypto users are increasingly seeking decentralized financial tools amidst ongoing security concerns and regulatory uncertainty around centralized exchanges. Bitget Wallet has capitalized on this trend, recording 191% user growth in India during Q3 2024. The rise is attributed to its ability to cater to these needs by offering enhanced security features such as keyless MPC wallet, which removes the need for private keys and provides a more user-friendly experience. Additionally, Bitget Wallet’s integration with Telegram Tap-to-Earn mini-games, has made it easier for Indian users to engage with Web3.
For similar reasons, European users are increasingly opting for decentralized wallets as alternatives to centralized exchanges. Countries like France, Germany, and the UK, where Bitget Wallet saw 286%, 115% and 94% user growth in Q3 respectively, are leading this trend. Users in these regions are drawn to Bitget Wallet’s all-in-one platform, which allows them to manage, trade, and explore decentralized apps extensively and securely. As wallets continue to evolve, they are emerging as essential entry points to Web3 for users across Europe.
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About Bitget Wallet
Bitget Wallet stands as one of the world’s leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 500,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.
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