Bitget Wallet has just hit a milestone of 40 million users, more than double its user base since March 2024. Almost 6 million people downloaded the app in September alone, making it the second most downloaded cryptocurrency app worldwide, just behind Binance. This shows how much more people are getting into decentralized crypto management.
The rise of the popular non-custodial crypto wallet is a sign that many people prefer decentralized exchanges (DEXs) and wallets over centralized exchanges (CEXs). After several CEXs collapsed, users started moving toward DEXs, where they had more control over their assets. Bitget Wallet grew especially fast in places like Africa and South Asia, where more people are exploring crypto in a decentralized way.
One of the main reasons why Bitget Wallet has succeeded so much is its smart integration with the Telegram Open Network (TON). The connection allows people to access decentralized services through Telegram, a messaging app they already know. The wallet saw a massive 4,886% jump in TON on-chain addresses in the third quarter of 2024. More people are now using wallets as easy gateways to Web3 services, reflecting a broader trend toward decentralization.
As Alvin Kan, COO of Bitget Wallet, explained, the crypto world is moving toward a mix of both CEXs and DEXs. Centralized exchanges are still more popular because they are easy to use and follow regulations, but decentralized wallets and exchanges are catching up fast. More and more people like the idea of having full control over their assets without relying on a central authority.
DEXs are growing to a great deal due to new technologies like layer two (L2) scaling solutions. These make transactions faster and cheaper, making DEXs more appealing to users. Thanks to these innovations, decentralized exchanges are becoming real competitors to CEXs like Binance and Coinbase.
With Web3 growing and changing, Bitget Wallet is in a great spot. It’s bringing together Web2 and Web3 technology, making it easier for people to jump into decentralized finance. As more users discover the benefits of decentralized platforms, Bitget Wallet is shaping up to be a major player in the future of crypto.
The rapid growth of Bitget Wallet signifies that more people are embracing decentralized solutions. With more users embracing decentralized services and the growing interest in Web3, the shift toward decentralized finance is likely to keep accelerating. The role of Bitget Wallet in the transformation proves that it is not just riding the wave but helping to shape the direction of the crypto world.
As the uptake of Web3 applications accelerates, many firms, such as Horizon Fintex, are likely to see a surge in the clientele interested in their Web3-supported services.
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