Bitget Wallet’s Users Reach 30 Million, Fueled by Meme Coins and TON Ecosystem

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.