emerging Markets Lead in Daily Crypto use, Bitget Report Reveals
A new study by Bitget Wallet highlights how emerging markets are embracing crypto wallets for daily transactions more than developed nations. Released on May 28, the report surveyed 4,599 users across various age groups and regions.
The findings show a significant rise in everyday crypto usage, particularly in emerging markets. Users in Southeast Asia, South Asia, and Africa are more likely to use wallets for sending crypto to others.
Bitget wallet’s survey of 4,599 users reveals a stark contrast in crypto usage. In Europe, over 40% of users primarily trade crypto. Conversely, in emerging markets, wallets are used for various purposes, especially sending crypto. This trend is driven by limited access to conventional banking and the allure of airdrop rewards.
Bitget CEO Gracy Chen notes this shift signifies wallets becoming part of new finance ecosystems. Bitget aims to make its wallet more user-amiable for non-crypto natives.
Users in these regions often face challenges with traditional banking. Consequently, they are more inclined to adopt crypto. additionally, the promise of airdrop rewards is particularly appealing due to lower income levels.
Gracy Chen, Bitget’s CEO, sees this as a pivotal moment. “Crypto wallets are evolving beyond just trading. They’re becoming central to Web3 interactions,” Chen explained. Bitget plans to enhance wallet accessibility for newcomers.
In north America and East Asia, users are evenly split between trading and sending crypto. East Asia stands out with a high long-term holding rate of 43%, indicating a strong belief in crypto’s future.
