Cryptocurrency

Swap

Bitcoin ETF

Bitget has become Japan’s second-largest cryptocurrency wallet behind MetaMask, following a period of noticeable growth in the second quarter of 2024.
Bitget wallet’s new user adoption in the Japanese markets increased by over 34% during the second quarter of 2024. This makes Bitget’s wallet the second most popular among Japanese users after industry leader MetaMask, according to an announcement shared with Cointelegraph.
The main reason behind the user growth was the introduction of Bitget Wallet Token&nbsp;(BWB), according to Alvin Kan, chief operating officer of Bitget Wallet. Kan told Cointelegraph:
<blockquote data-ct-non-breakable="true">
 “Users earned BWB by depositing coins, performing Swap transactions, and completing referrals. Many Japanese influencers noticed and promoted our wallet, boosting BWB’s popularity and users’ confidence in its value and potential.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/d9e311dd-f35e-4116-b886-70fed2e32ded.png" alt="Airdrop success propels Bitget wallet to second most popular in Japan" title="">
 <figcaption style="text-align: center;">
 Bitget, Metamask, Phantom and other Web3 wallet downloads. Source: Data.ai
 </figcaption>
</figure>
Cryptocurrency wallets like Bitget and MetaMask are some of the most important Web3 infrastructures, enabling the self-custody of assets. The user experience and complexity of Web3 wallets continue to be a pain point for mass blockchain adoption.
Related: <a href="https://cointelegraph.com/news/crypto-holders-triple-2026-lunu-ceo">Crypto holders predicted to triple by 2026, says Lunu CEO</a>
<h2 data-ct-non-breakable="true" id="bitget-s-defi-and-cross-chain-capabilities-were-key-for-its-growth-coo">Bitget’s DeFi and cross-chain capabilities were key for its growth — COO</h2>
Beyond standard custody, Bitget Wallet offers more advanced <a href="https://cointelegraph.com/learn/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance</a>&nbsp;capabilities, including a <a href="https://cointelegraph.com/learn/what-are-decentralized-exchanges-and-how-do-dexs-work">decentralized exchange</a>, a non-fungible token marketplace and an Inscription platform.
Bitget claims to be the industry’s first cross-chain wallet that enables users to easily transact on multiple chains without the need for cross-chain bridges or dealing with transaction fees.
These advanced capabilities were crucial for the wallet’s growth during 2024, according to Bitget Wallet’s Kan:
<blockquote data-ct-non-breakable="true">
 “Our biggest selling point is our comprehensive functionality. We are a platform, not just a simple wallet, meeting all user needs: trading, interaction and investment.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/6b2323c5-8cb1-4bdc-9190-c459e1ce28f6.png" alt="Airdrop success propels Bitget wallet to second most popular in Japan" title="">
 <figcaption style="text-align: center;">
 Bitget Wallet downloads. Q2 2024. Source: Data.ai
 </figcaption>
</figure>
Related: <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-inflows-magnificent-7-stocks-88k-btc">BlackRock Bitcoin ETF inflows surpass ‘magnificent 7’ stocks as trader eyes $88K</a>
<h2 data-ct-non-breakable="true" id="web3-wallets-and-mobile-experience-are-key-for-mass-crypto-adoption">Web3 wallets and mobile experience are key for mass crypto adoption</h2>
<a href="https://cointelegraph.com/news/crypto-remove-friction-next-billion-users-coinbase">Crypto will need to remove the friction</a> points to bring the first billion mainstream crypto adopters on the blockchain, said Chintan Turakhia, senior director of engineering at Coinbase.
Some of the most pressing friction points include setting up a wallet with a complicated seed phase, paying transaction fees and buying blockchain-native tokens to transact on a network.
Improved product experience, especially for crypto wallets, will be key for boosting mainstream adoption, according to Bitget’s Kan, who added:
<blockquote data-ct-non-breakable="true">
 “We emphasize the mobile experience to push for mass adoption, as Web3 users often find it inconvenient to use plugin wallets on computers. […] We believe decentralized trading will become mainstream in the Web3 industry, with payments being a key application for wallets.”
</blockquote>
Other wallet providers are also aiming to boost mainstream adoption. For instance, Coinbase <a href="https://x.com/CoinbaseWallet/status/1798363214901837884" target="_blank" rel="noopener nofollow">launched</a> a smart wallet with more user-friendly features at the beginning of June.
Magazine: <a href="https://cointelegraph.com/magazine/pudgy-penguins-pixelverse-ether-etfs-price-impact-hodlers-digest-july-14-20/">Pudgy Penguins lands in Pixelverse, Ether ETFs, and more: Hodler’s Digest, July 14-20</a>

Airdrop success propels Bitget wallet to second most popular in Japan

Table of Contents

Cointelegraph

Другие статьи, опубликованные 24 июл. 2024 г.

Strong Investor Demand for Spot Ethereum ETFs: Altcoins on the Verge of a Breakout

The Role of Vision in Building a Cohesive Team – the WEWE Global Way

MoonBag Raises $3.7M in Presale Stages: Understanding Its Growth Prospects Alongside Hedera's Mar...

8 Best Cryptos to Invest In Before Winter Bull Run

Ferrari to Accept Cryptocurrency for Car Purchases in the U.S.

Bitstamp to distribute Mt. Gox Bitcoin by July 25

Join our free newsletter for daily crypto updates!