Emerging Markets Lead in Everyday Crypto Transactions, Bitget Report Shows
A recent study conducted by Bitget Wallet reveals that users in emerging markets are utilizing crypto wallets for daily transactions more frequently compared to users in developed countries.
The Bitget Wallet report, released on May 28, highlights the growing trend of crypto adoption for everyday transactions, particularly in emerging markets. The report, based on feedback from 4,599 wallet users across different age groups and regions, sheds light on the diverse use cases of crypto wallets.
Insights from Bitget’s Survey
According to the survey results, users in Europe predominantly use their crypto wallets for trading activities, with over 40% of respondents engaging in trading. In contrast, users in Southeast Asia, South Asia, and Africa are more inclined to use crypto wallets for sending digital currencies to other users.
Emerging market users face challenges in accessing traditional banking services, making them more inclined towards crypto adoption. Additionally, users in these regions are attracted to earning airdrop rewards, especially due to lower income levels.
Bitget CEO Gracy Chen acknowledges the shifting dynamics of user behavior towards crypto wallets. In response, Bitget plans to enhance accessibility for non-crypto native users to cater to this evolving trend.
“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,” Gracy Chen, CEO of Bitget.
Notably, users in North America and East Asia exhibit a balanced engagement in both trading and sending crypto. However, East Asia stands out with higher levels of activity, with 48% and 47% of users sending and trading crypto, respectively. The region also boasts the highest rate of long-term holding at 43%.