Bitget Wallet, a self-custodial cryptocurrency wallet owned by the Bitget exchange, surpassed its major competitor, MetaMask, in downloads last month.
Data from the crypto analytics platform CryptoRank shows that the Bitget Wallet app reached 1.6 million downloads in July 2024, exceeding MetaMask by 100,000 downloads.
Other wallets in the top 10 by download numbers included Phantom Wallet with 667,000 downloads, Coinbase Wallet with 475,000 downloads and Animoca Brands-backed SafePal with 157,000 downloads.
Bitget Wallet’s Rise Driven by Memecoin Trading and TON Support
In 2024, Bitget Wallet experienced tremendous growth, with downloads skyrocketing over 1,100% from just 130,000 in January, according to Data.ai records accessed by Cointelegraph.
Alvin Kan, chief operating officer of Bitget Wallet, attributed this rapid growth to increased on-chain trading, particularly in memecoins, which have seen significant transaction activity throughout 2024.
Kan informed Cointelegraph that Bitget Wallet also attracted many users from The Open Network (TON) ecosystem, as it was among the first wallets to offer full support for the TON mainnet.
In July 2024, TON emerged as the most transacted network on Bitget Wallet, surpassing other chains like Polygon, Arbitrum and BNB Smart Chain. Kan also highlighted the launch of the Bitget Wallet Token (BWB) in March 2024 as another catalyst for growth.
“Since BWB’s introduction, Bitget Wallet’s user base has expanded by over 50% to 30 million, driven by increased engagement in governance, staking and ecosystem airdrops,” Kan stated.
He added that the launch of BWB has also boosted trading volumes and user interaction, particularly in key markets like Japan and Nigeria.
Read more: 3 Key Factors Fueling Bitcoin Traders $100K+ Price Predictions for 2025
Italy, Australia and Sweden Among the Fastest-Growing Countries on Bitget Wallet
Bitget Wallet currently boasts users in over 186 countries and regions, actively onboarding new users across all continents.
In the first half of 2024, Italy, Australia and Sweden were the fastest-growing countries by app downloads, with increases of 7,500%, 5,300% and 5,200%, respectively, compared to the first half of 2023.
Other rapidly growing countries using Bitget Wallet include the Philippines, Russia and Japan, with growth rates of 4,600%, 4,400%, 2,100% over the same period, respectively.
“We focus on enhancing the mobile experience to drive mass adoption, as Web3 users often find plugin wallets on computers inconvenient”, noted Kan from Bitget Wallet, adding, “We believe decentralized trading will become mainstream in the Web3 industry, with payments being a key application for wallets.”
Community Reactions and MetaMask’s Market Position
Bitget Wallet, originally known as BitKeep, was launched in 2018. The Bitget exchange rebranded the wallet in August 2023 after acquiring a controlling stake for $30 million.
The news of Bitget Wallet surpassing MetaMask in downloads surprised many social media users, with some admitting they had never heard of it.
On the other hand, some users suggested that most crypto users have already downloaded MetaMask, so it’s no surprise that other wallets like Bitget are gaining more downloads.
Some commenters also noted issues with MetaMask’s mobile app, preferring the experience with its browser extension.
According to Data.ai records, MetaMask’s downloads have increased by 77% year-to-date, starting 2024 with around 900,000 downloads per month.
Cre: cointelegraph
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
