Emerging Markets Lead in Crypto Wallet Adoption for Everyday Payments
A recent study conducted by Bitget Wallet has revealed an interesting trend in the world of cryptocurrency adoption. Users in emerging markets are utilising crypto wallets for everyday transactions at a much higher rate compared to their counterparts in developed countries.
The report, released by Bitget Wallet on May 28, sheds light on the increasing use of crypto wallets for daily transactions, especially in emerging markets. The findings indicate a significant shift towards the integration of cryptocurrencies into everyday financial activities.
The study, which surveyed 4,599 wallet users across different age groups and global regions, highlighted the diverse ways in which individuals are engaging with their Bitget Wallets.
Key Findings from the Report:
- In Europe, a majority of users are primarily involved in trading cryptocurrencies using their wallets.
- Users from Southeast Asia, South Asia, and Africa are more inclined to use crypto wallets for sending digital assets to other users.
- Emerging markets exhibit higher engagement with crypto wallets due to limited access to traditional banking services.
- Lower-income users in emerging markets are attracted to earning airdrop rewards through crypto wallets.
Bitget CEO, Gracy Chen, emphasized the evolving nature of user behavior towards crypto wallets and the need for greater accessibility for non-native crypto users.
“This report captures a powerful shift: wallets are no longer an extension of the crypto ecosystem — they are emerging to new-age finance ecosystems. At Bitget, we’ve seen firsthand how user behavior is evolving. People aren’t simply trading anymore—they’re earning, exploring, and interacting directly with Web3, often starting with a wallet,” said Gracy Chen.
Notably, users in North America and East Asia were evenly split between trading and sending crypto, with a higher level of engagement observed in East Asia. Additionally, East Asia recorded the highest rate of long-term holding at 43%.
The report by Bitget Wallet underscores the growing importance of crypto wallets in everyday financial activities, with emerging markets leading the way in adoption and usage.