Bitget Wallet, a non-custodial cryptocurrency wallet, has now surpassed 40 million users, growing by over 100% since March 2024. In September alone, the app was downloaded nearly 6 million times, making it the second most downloaded cryptocurrency app globally, behind only Binance.
Bitget Wallet Hits 6 Million Downloads in September Thanks to TON Involvement
The rise of Bitget Wallet underscores the growing popularity of decentralized solutions in the crypto space, according to the team. With the collapse of many centralized exchanges (cex), many users have turned to decentralized exchanges (dex) and wallets, which offer increased control over their assets. The walletâs user base has grown significantly in regions such as Africa and South Asia.
The company attributes this expansion to its integration with the Telegram Open Network (TON) ecosystem, which allows seamless access to decentralized services through the popular messaging platform. In Q3 2024, the wallet saw a 4,886% increase in onchain TON addresses. According to Bitget, this increase fits into a broader trend of decentralized wallets becoming a gateway to Web3 for new users, especially through user-friendly platforms.
âThe crypto industry seems to be moving towards a hybrid model where both cex and dex coexist. While centralized exchanges will likely maintain their dominance due to regulatory compliance and user familiarity, decentralized wallets and exchanges are quickly catching up,â Alvin Kan, COO of Bitget Wallet told Bitcoin.com News.
Centralized exchanges have historically led the market due to their liquidity and ease of use, but decentralized technologies are quickly catching up. Innovations such as layer two (L2) scaling solutions have boosted the performance of dex platforms, cutting fees and speeding up transactions. Bitget Walletâs continued growth, coupled with its strategy of integrating Web2 and Web3, could position it as a potential competitor to traditional platforms such as Binance and Coinbase.
What do you think about the development of Bitget wallet? Let us know your thoughts on this topic in the comments section below.
#binance #wendy #bitcoin #eth #bnb $BTC $ETH $BNB
