Bitget Wallet Surpasses 40 Million Users, Becomes Second Most Downloaded Crypto App Globally

Bitget Wallet Gains 6M Downloads in September Sparked by TON Engagement

Crypto wallet Bitget Wallet now has over 40 million users, showcasing more than 100% growth since March 2024. In September alone, the app was downloaded nearly 6 million times, ranking second among the most downloaded cryptocurrency applications globally, following Binance.

Bitget Wallet’s impressive growth was driven by its integration with the Telegram Open Network (TON) ecosystem, offering easy access to decentralized services via the popular messaging platform. During Q3, the wallet saw a 4,886% increase in TON onchain addresses.

According to Bitget, this surge highlights a broader trend of decentralized wallets serving as a gateway to Web3 for new users, especially through user-friendly platforms.

“The crypto industry seems to be heading towards a hybrid model where both cexs and dexs co-exist. While centralized exchanges will likely retain their dominance due to regulatory compliance and user familiarity, decentralized wallets and exchanges are quickly catching up,” Alvin Kan, Bitget Wallet’s COO, told Bitcoin.com News.

Centralized exchanges have generally led the market due to their liquidity and user-friendliness, but decentralized technologies are catching up fast. Innovations like layer two (L2) scaling solutions have enhanced the performance of dex platforms, reducing fees, and speeding up transactions. Bitget Wallet’s continuous growth, combined with its strategy of integrating Web2 and Web3, might position it as a potential competitor to traditional platforms like Binance and Coinbase.