Bitget Wallet has reached a new milestone of 12 million monthly active users (MAUs), becoming the most downloaded Web3 wallet in August 2024. The application was downloaded nearly 2 million times last month, surpassing popular competitors such as Trust Crypto Wallet and MetaMask.
Bitget Wallet Surges to 12 Million Monthly Active Users
Bitget allows users to create and manage wallets using familiar Web2 logins such as email, Google, or Telegram accounts, powered by Multi-Party Computation (MPC) keyless wallet technology. This integration has led to a 2.7-fold increase in MPC wallet creation since becoming available to Telegram users.
“With over 90% of tokens only available on decentralized exchanges (DEXs), we’re helping users tap into new opportunities,” commented Alvin Kan, the COO at Bitget Wallet. “Our goal is to bring Web2 users into the world of Web3, making crypto easy to access, especially for those in regions where traditional finance is limited.”
The platform's growth has been further fueled by the popularity of Tap-to-Earn (T2E) games within the TON ecosystem. Tomarket, a TON app backed by Bitget Wallet, gained over 20 million users in just two months, highlighting the market's potential.
Bitget Wallet's expansion efforts have resulted in visible user growth across various countries, with some regions experiencing a 1000% increase compared to the previous year. The wallet now supports over 168 countries.
Previously, Bitget reported on the performance of its portfolio in July, when it became the second most popular in the Japanese Web3 market. In June, Bitget Walletinvested in a decentralized trading platform in collaboration with Foresight X.
650 Million Users and $5 Million for Influencers
Bitget Wallet is part of the Bitget cryptocurrency exchange ecosystem, which has been gaining increasing interest from investors recently. In the second quarter, it recorded capital inflows of $700 million, ranking it third behind Binance and Bitfinex.
Earlier this month, the platform introduced a new plan to reach more customers by launching a Task-to-Earn program aimed at financial influencers. As part of this program, it plans to pay up to $5 million to the most engaged affiliateswithin the first year.
“Our Booster Platform marks the industry's first systematic and dynamic attempt at incentivizing KOLs' efforts,” said Gracy Chen, Chief Executive Officer (CEO) at Bitget. “By prioritizing our extensive network of influencers, we will provide efficient promotional features to ensure collaborative success within the crypto community.”
Last month, it also added a new payment method by opening up to a market of 650 million users, involving the integration of payment systems with Apple Pay and Google Pay, which allows for quick fiat-to-crypto conversion. “We're enabling broader masses and newer audiences to interact with crypto,” added Chen.
This article was written by Damian Chmiel at www.financemagnates.com.
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