Bitget Wallet is one of the leading Web3 wallet solutions on the market, with over 12 million users and $8 billion in total trading volume. Formerly known as BitKeep, this all-in-one Web3 trading wallet has steadily grown to become one of the world’s leading platforms (and Asia’s largest) in its category.
The wallet rebranded earlier this year with the help of a $30 million investment from Bitget and has demonstrated substantial growth ever since. It became the fourth most installed mobile Web3 wallet in October and among the top 10 most popular self-custody crypto hot wallets in the world.
So, how does Bitget Wallet stack up at the tail end of 2023? Given its growing popularity and adoption, this article will focus on its growing list of features, security measures, and overall user experience heading into 2024.
Key features of Bitget Wallet
The Wallet
At its core, Bitget Wallet is a decentralized and non-custodial Web3 trading platform where users retain complete control over their cryptocurrencies. It supports over 90 blockchains, including Ethereum, BNB Chain, and Solana, and offers the compatibility and flexibility needed for its diverse user base. An intelligent feature of this wallet is its ability to aggregate and display assets and transaction records across multiple chains, significantly simplifying the user experience. The integration of features like the “DeFi Portfolio,” which aids in managing staked assets, makes it a comprehensive tool for digital asset management.
Bitget Swap
The platform provides cross-chain transactions across nearly 30 mainnets and their various liquidity sources from hundreds of DEXs. This feature, called Bitget Swap, offers options like gas-free trading, automatic slippage adjustments, and multiple trading modes. Its real-time candlestick charts provide in-depth asset information, assisting users in making informed trading decisions. There are also functions like gas abstraction for ETH payments and macro-level market trend indicators, which further simplify the trading experience for users.
NFT Marketplace
The wallet features a marketplace that integrates multi-chain NFT management and trading. It supports a wide range of blockchains and offers features like bulk purchases and free minting services. While not all users will be interested in non-fungible tokens, this marketplace makes Bitget Wallet an attractive option for crypto traders who are interested in an all-in-one solution or in the NFT space.
Watch-Only Feature
Bitget has integrated one of its core copy trading features into the wallet, allowing users to closely monitor the trading activities of whales or top traders. This allows them to always stay on top of market trends.
DApp Browser
The wallet has an integrated dApp browser, which provides access to over 20,000 dApps across several industries, including DeFi, blockchain gaming, NFTs, mining, crypto loans, and much more. Users can interact with these applications directly through the wallet.
Staking Feature
Staking is another feature that allows Bitget Wallet users to earn rewards on their holdings. The platform provides a 4% to 8% yield on staking a variety of tokens. It also has integrated OTC trading functions, allowing users to seamlessly exchange fiat currencies for crypto and vice versa.
Bitget Wallet Security
Multi-Party Computation and AA wallets
Bitget Wallet incorporates Multi-Party Computation (MPC) technology, providing a ‘keyless’ security experience. This technology distributes key management across multiple parties, significantly reducing the risk of a single point of failure. In addition, the AA (Autonomous Agents) wallet feature introduces smart contract functionality. This integration allows for more complex and conditional transaction rules, which can be programmed directly into the wallet’s operations. It adds an additional layer of security and control, as transactions can be executed based on predefined conditions, reducing the risk of unauthorized or fraudulent activities.
Hardware Wallet Compatibility
Recognizing the need for hardened security for substantial crypto holdings, Bitget Wallet offers compatibility with hardware wallets. This feature allows users to enjoy the convenience of an online wallet while maintaining the security standards of cold storage solutions.
‘GetShield’ Security Strategy
The platform has an integrated 360-degree security strategy called ‘GetShield.’ This comprehensive strategy includes integrated risk alerts for dApps and tokens, an approval checker for transactions, and support for hardware wallet integration. The wallet’s collaboration with leading security firms ensures continuous audits and updates to its security protocols to maintain a high standard of protection.
User Protection Fund
Bitget has also established a $300 million user protection fund for its wallet users. This fund serves as a financial safeguard, providing an additional layer of security against potential breaches or losses.
Security Audits
Bitget has partnered with leading blockchain security firms Certik and Slowmist to perform regular audits of its smart contracts, ensuring complete transparency and protection of user funds.
User Experience and Accessibility
Bitget Wallet has a simple design that’s easy to navigate for novice traders. The integration of real-time market data, combined with an efficient token swap functionality, allows for a streamlined trading experience. This approach significantly reduces the learning curve for new users while satisfying the demands of seasoned traders.
Accessibility is another strong suit of Bitget Wallet. It is available across multiple platforms, including Android, iOS, and as a browser extension, ensuring users can manage their assets on nearly any device. Meanwhile, the wallet’s multilingual support extends its reach even further to accommodate a global user base.
Pros
Comprehensive feature set: Offers a wide range of services, including token swaps, real-time market data, an NFT marketplace, and a dApp browser.
Progressive security: Incorporates advanced security measures like an MPC Wallet, DESM encryption, AA Wallet, and compatibility with hardware wallets.
User-friendly interface: Intuitive design suitable for both beginners and experienced users.
Global accessibility: Available through Android, iOS, or browser extension, and supports multiple languages.
Cons
Relatively new: Bitget Wallet rebranded from BitKeep earlier this year. So, it’s relatively less known compared to other leading wallet solutions like MetaMask, Coinbase, and Trust Wallet.
Limited browser support: The wallet’s browser extension is only available on Google Chrome, though this also works on Microsoft’s Edge browser, which is Chromium-based.
Strategic Partnerships
The wallet’s rapid growth across the industry has been commendable in the past year. In addition to collaborating with over 90 mainnets, the wallet has partnered with third-party services like MoonPay and Alchemy Pay. These partnerships allow users to purchase cryptocurrencies using various fiat payment methods, broadening the wallet’s usability.
It has also made significant security collaborations, most notably with the GoPlus security database, which provides risk alerts to its users before interacting with potentially risky tokens or dApps. Bitget Swap has also integrated Flashbots that protect users against malicious attacks on the Ethereum network. These partnerships have been pivotal in the wallet’s rapid growth throughout the year.
A Forward Thinking, All-In-One Wallet
Bitget Wallet lives up to its ‘all-in-one’ promise. The platform is stacked with features that would appeal to a wide range of users, from beginner traders to expert crypto investors, NFT enthusiasts, copy traders, and multi-chain users. The wallet’s strict emphasis on security is also a positive factor in ensuring user credibility. Overall, Bitget’s Web3 wallet can be a compelling choice for users who want to engage in all things crypto and DeFi through a single consolidated platform.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2023/12/bitget-wallets-2023-surge-pioneering-web3-accessibility-and-advanced-security