Bitget Wallet, a self-custodial cryptocurrency wallet operated by Bitget exchange, is gaining popularity on Telegram, where its Mini App attracted millions of users within days of launch.
On Oct. 31, Bitget Wallet announced the official launch of Bitget Wallet Lite, a multichain wallet integrated into Telegram, allowing users to buy, store and send crypto within the app.
The official launch comes three days after the Bitget Wallet Lite’s soft launch on Oct. 28, with six million users joining the Mini App on Telegram since.
Six million users in 3 days?
After gaining three million users in the first two days, Bitget Wallet Lite saw its user base surge past six million monthly users on the official day of launch, according to Telegram data. The figure makes up half of Bitget Wallet’s monthly user base, which counts 12 million users.
Bitget Wallet Lite’s rapid growth stems from strategic campaigns and features that engage users, Bitget Wallet’s chief operating officer Alvin Kan told Cointelegraph.
Bitget Wallet Lite is showing more than six million monthly users as of Oct. 31. Source: Telegram
One of those campaigns is early user rewards, which allowed the first million users to receive gifts and rewards. Kan added:
“We launched a targeted campaign in Telegram groups, with gifts for the first million users, drove early adoption by creating urgency and rewarding users eager to secure the best opportunities on Bitget Wallet.”
The fast growth of the Mini App also came from partnerships with other Mini Apps like Tomarket, which expanded Bitget Wallet’s presence on Telegram to a wider user base, the executive stated.
Other factors that pushed the sharp growth were referral programs allowing users to earn rewards for inviting others, Kan said.
Crypto wallets go all over Telegram
While the Telegram messenger has its default cryptocurrency wallet called Wallet in Telegram, there are a wide number of Mini Apps featuring crypto wallet services within the app.
Some of the biggest crypto wallets on Telegram include Hot Wallet, with 5.8 million monthly users; Tonkeeper, with 760,000 users; OKX Wallet, with roughly 700,000 users; and many more.
Amid the rising activity of crypto wallets on Telegram, users should be cautious while interacting with Mini Apps on the messaging platform due to growing phishing attacks and other risks.
According to Bitget, the monthly active users (MAU) data on Telegram can be inflated or manipulated, which gives attackers more credibility to represent a well-established crypto exchange.
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“It is safer to check Telegram’s official verification blue tag or check with the official brand account or customer service,” Bitget told Cointelegraph. Additionally, users can validate any channel related to Bitget Wallet through a dedicated page on its website.
An example of a blue tag-checked Mini App wallet on Telegram (Hot Wallet). Source: Telegram
While advising users to check Telegram’s official verification blue tag, Bitget Wallet Lite doesn’t have one at the time of writing.
“We don’t have this yet but will have it very soon,” a spokesperson for Bitget Wallet Lite told Cointelegraph on Oct. 31.
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