Cryptocurrency exchange Bitget has announced that within a staggering three days of the soft launch of Bitget Wallet Lite, a self-custodial cryptocurrency wallet, it was able to garner six million user subscriptions on Telegram. This milestone shows the trend of cryptocurrency wallets on the messaging platform and proves that Bitget is a fast-growing company in the digital currency industry.
The wallet, Bitget Wallet Lite Mini App, meant to enhance the easier facilitation of transactions in the crypto market, was set for launch on 31 October. However, a trial was conducted on 28 October.
According to Telegram, during the first 48 hours, the Mini App had reached three million users and doubled subscribers up to six million as of the launch date. This growth area can be attributed to covering more than half of user acquisition for the Bitget Wallet, which has now reached 12 million active users monthly.
Bitget Wallet’s Rapid Growth Driven by Strategic Campaigns and Expanding Partnerships, Says COO
The wallet is growing very fast, and this is done in various strategic directions, as stated by the COO of the Bitget Wallet, Alvin Kan. Added incentives such as gifts to the first one million users of the product, making it easier to gain more users on its utilization. Further, Bitget integrates with other Mini Apps, including Tomarket, expanding its outreach in Telegram and acquiring various types of crypto enthusiasts.
“Other apparent sources of traffic include the referral programs,” Kan said, adding that through such an offer, the users could invite friends and relatives in the Mini App to use the Bitget Wallet Lite.
Bitget Wallet Lite is one of many crypto wallets accessible on the Telegram application, which has become popular with cryptocurrency users. Nonetheless, many third-party wallets exist in the Telegram Market today, even if it provides its default wallet. The leading competitors are Hot Wallet – 5,8M monthly users, Tonkeeper 760K, and OKX Wallet 700K.
However, crypto wallets in active messengers such as Telegram entail specific threats. Bitget has recently warned its customers about phishing and fraudulent activity within Mini Apps, especially if the applications are designed to attract large numbers of customers through fake IDs. “If in doubt, users can confirm the authenticity via Telegram blue checkmark or with our official customer support,” Bitget advised users to verify channels affiliated with the Bitget Wallet on their website.
Although the Bitget Wallet Lite does not currently have confirmation through Telegram’s blue badge, it is expected to be secured shortly.
As we move forward into this growing new year, the team behind Bitget Wallet Lite is primarily centred on establishing credibility and garnering more users. The wallet’s high and growing user base, thanks to partnership agreements, compensation for users in the form of tokens, and referrals to others, means that Bitget has made good progress in effectively competing for greater recognition in the world of cryptocurrency wallets.
