Bitget crypto exchange Wallet witnesses 300% growth in MENA with Egypt and KSA leading

Bitget Wallet a Web3 wallet created by Bitget crypto exchange, has reported that in the last 30 days it has witnessed a growth of 300 % in the MENA region with countries such as Egypt and Saudi Arabia witnessing the highest growth percentages. Bitget Wallet is a full-stack Web3 multi-chain trading wallet offering Swap, NFT Marketplace, Dapp browser, launchpad functionality, and even staking services.

Countries in the MENA region such as Egypt and Saudi Arabia are among the top 15 countries for Bitget wallet downloads globally.

“Non-custodial wallets are an important element in offering freedom, and security for Web3 and crypto enthusiasts. The growing interest and crypto adoption has led multiple countries in MENA to rank on top for downloads of Bitget Wallet.” said Sam A Spiers, Regional Director for Bitget MENA.

Aside from offering a wide range of DeFi services, Bitget Wallet has integrated a host of tools to ensure that it delivers cutting-edge functionality to its users. Some of these include a market analytics tool and smart money features for users to make informed trading decisions, and even an integrated inscriptions tool and incentivized Web3 task platform. On the trading side, Bitget Wallet supports cross-chain transactions for over 40 mainnets, and aggregates data from hundreds of DEXs and cross-chain bridges to provide users with the best trading routes available.

Users also enjoy an extensive selection of token pairs, as well as innovative features like gas-free transactions and automatic slippage tools that optimize the overall trading experience.

Bitget Wallet utilizes a unique DESM encryption algorithm and shares a US$400 million Protection Fund with the Bitget Exchange, ensuring the security of user assets and transactions. Additionally, the wallet also integrates a wide array of other innovative security features under its “GetShield” security array to better safeguard user assets, including MPC technology, proactive DApp and token risk alerts, as well as regular smart contract audits with leading security firms in the industry.

Marking security as the priority is an important aspect of building a strong Web3 wallet, Alvin Kan, Chief Operating Officer of Bitget Wallet comments: “We initially invested $30 million to transform our crypto wallet experience as we embrace the future of Web3 trading offering faster transactions, unmatched DEX aggregation and seamless cross chain convenience. Our GetShield security array was introduced to not only reflect our commitment to ensuring user security, but also our dedication to building a sustainable and successful Web3 project.”

The growth of Bitget wallet globally and in the MENA, region is also in line with market research.  Crypto wallets currently represent nearly 25% of sales in the overall cryptocurrency market. Increasing adoption of cryptocurrency and rising acceptance of crypto payments by retailers can be prime differentiators in the highly competitive digital payment world. Crypto wallets are thus gradually obtaining customer familiarity with acceptance from retailers.

Last month Bitget released reports announcing an all-time high in trading volumes in the MENA region while witnessing a growth of 500% in trading volumes since it started serving the MENA region in November 2023.

Bitget noted that it had 2.5 million users from the MENA region, making up almost 10% of its total global user base which is 20 million.

Bitget is seeking a license either in the UAE or Bahrain as noted by its Managing Director.