Loading...

Bitget Wallet reaches 20M users, becoming the fourth largest global Web3 wallet

TL;DR

  • Bitget Wallet hits 20M users, ranking fourth globally.
  • Early DeFi adoption, NFT marketplace, and gas-free transactions fuel Bitget Wallet’s expansion.
  • Bitget Wallet focuses on meme coins, new assets, and BWB tokens to serve users better.

In a significant milestone for the industry, Bitget Wallet, the leading Web3 wallet in Asia, has announced that its global user base has exceeded the 20 million mark, establishing it as the fourth-largest wallet worldwide. This achievement coincides with the launch of the platform’s token, BWB, alongside a captivating six-week BWB token airdrop campaign, attracting widespread attention within the global community.

Harnessing product innovation for unprecedented user growth

Since launching in May 2018, Bitget Wallet has dedicated itself to developing a robust Web3 infrastructure to provide every user equitable and unrestricted access to the Web3 universe. Through sharp market insight and relentless innovation in product development, Bitget Wallet has experienced an explosive increase in its user base, marking a significant achievement in its five-year journey.

Bitget Wallet’s strategic foresight during the 2020 DeFi Summer led to the early adoption of DEX quotations, significantly enhancing the user experience in asset discovery and trading on-chain. This innovation garnered significant user interest. The subsequent rise of NFTs and the metaverse saw Bitget Wallet expanding its offerings with an NFT marketplace, further propelling its growth. 

As decentralized trading gained mainstream acceptance, Bitget Wallet was at the forefront, integrating Swap trading functionality and establishing itself as the industry’s first to offer aggregated cross-chain DEX market data and facilitate gas-free cross-chain transactions. The continuous enhancement of its Swap product has been a crucial driver of Bitget Wallet’s user base expansion.

In 2022, Bitget Wallet achieved a remarkable milestone by completing a $15 million Series A funding round at a $100 million valuation led by Dragonfly Capital. This was followed by a strategic $30 million investment from Bitget Exchange, boosting its valuation to $300 million.

Post-investment, Bitget Wallet underwent comprehensive brand enhancement and optimization of its Swap services, introducing cutting-edge features like intelligent market data and Smart Money tracking. Its Swap trading volume consistently ranks in the top ten among all DeFi projects, rivaling and occasionally surpassing MetaMask, underscoring its competitive edge in the marketplace.

Beyond refining its Swap transactions, Bitget Wallet has broadened its ecosystem by introducing Launchpad and a profit-earning center, facilitating users in discovering new assets and opportunities. Today, Bitget Wallet transcends the traditional wallet paradigm, evolving into a comprehensive decentralized ecosystem platform encompassing DEX, intelligent market data, Launchpad, inscription platforms, NFT marketplace, and a Web3 task incentive platform.

In 2022, Bitget Wallet’s diverse user base spanned 168 countries and regions, including Asia, Europe, and North America, with 15 million users. By the fourth quarter of 2023, its global download rank ascended to fourth, with the total user count now exceeding 20 million. This places Bitget Wallet at the forefront of the global wallet sphere.

Embracing user-centric innovation, focusing on new assets and opportunities

With the industry’s recent shift towards a community-centric narrative, highlighted by the emergence of meme coins, Bitget Wallet has positioned itself as a pioneer in discovering and trading meme coins, attracting a dedicated user base thanks to its superior functionality in this niche.

This success can be attributed to Bitget Wallet’s comprehensive infrastructure, which includes advanced market analysis tools encompassing full-chain trend analysis, multi-dimensional market rankings, and smart money insights, covering 100 mainstream blockchains. This, combined with innovations such as gas-free trades and automatic slippage adjustments, has empowered users to discover and trade tokens more efficiently and ahead of the curve.

Moreover, Bitget Wallet’s strategic focus on “New Assets” and “New Opportunities,” as emphasized by COO Alvin, reflects its commitment to leading the market in innovation. Whether through the support of new blockchains, the listing of new tokens, the introduction of the Launchpad platform, or the launch of inscription functions, Bitget Wallet’s initiatives are strategically aligned with unlocking new assets and opportunities for its users. Facilitating users to capitalize on these opportunities, thereby maximizing their earnings in the Web3 world, remains the cornerstone of Bitget Wallet’s growth strategy.

With the recent launch of its platform ecosystem token, BWB, Bitget Wallet underscores its commitment to fostering a vibrant ecosystem. BWB is poised to play a central and pivotal role in the wallet’s ecosystem, with Bitget Wallet’s future growth prospects intricately linked to BWB, following the significant milestone of surpassing 20 million users.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Benson Mawira

Benson is a blockchain reporter who has delved into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), etc.His area of expertise is the cryptocurrency markets, fundamental and technical analysis.With his insightful coverage of everything in Financial Technologies, Benson has garnered a global readership.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Gurbir Grewal Reflected About Efforts of Compliance of Crypto-Industry.
Cryptopolitan
Subscribe to CryptoPolitan