Originally published on: September 18, 2024
Crypto exchange Bitget has reached a milestone by surpassing 45 million users worldwide on its sixth anniversary. The platform recently announced that its user base nearly tripled since 2023, with significant growth seen in regions like Africa, South Asia, and Southeast Asia.
Africa, in particular, experienced a remarkable 1,614% increase in Bitget users as the region embraces the Web3 space. South and Southeast Asia also saw growth of 729% and 216%, respectively.
Gracy Chen, CEO of Bitget, credits three main factors for the platform’s substantial user growth: the expansion of its peer-to-peer (P2P) marketplace, the popularity of memecoins, and the emergence of The Open Network (TON) ecosystem.
Chen highlighted the importance of P2P trading, calling it the original purpose of cryptocurrency as a means of value exchange. She also emphasized the role of memecoins in driving growth, pointing out that Bitget provided a platform for Africans to explore opportunities in this sector.
Furthermore, the TON ecosystem has played a crucial part in Bitget’s expansion in Africa. Chen noted that many Africans use the Telegram messaging platform daily, allowing them to easily enter the world of crypto. Bitget positions itself as a “TON-friendly” platform to cater to this demographic.
Despite the challenges that come with rapid user growth, Chen believes Bitget’s 1,500-strong workforce is equipped to handle the increased demands placed on the platform’s technical infrastructure and support teams. This growth reflects the company’s commitment to pushing the industry forward and providing a gateway for Africans to explore the world of cryptocurrency.
In related news, Bitcoin’s usage in Senegal has been gaining traction, shedding light on why this African country is turning to BTC for financial transactions.
