Bitget Wallet Crypto is Released – What Does it Mean for Users?
Previously known as BitKeep, Bitget Wallet announced the launch of a native token for its ecosystem in a similar move taken by leading non-custodial Web 3.0 wallet providers, such as Trust Wallet.
After a year of announcing its intention to develop a centralised payment system, Bitget’s BWB is coming soon and will be listed in major exchange platforms. The release will be accompanied by an airdrop campaign, distributing points and awards for early users.
This move is set to boost usability among crypto communities, award current Bitget wallet crypto users, and facilitate DeFi and dApps investments. Let’s discuss this release and how you can earn from its airdrop.
Bitget Native Token
Bitget, initially known as a decentralised derivatives trading platform, has released a new token to become a unified payment system for its ecosystem and a means for swap exchanges and crypto investments.
In 2023, BitKeep wallet secured a massive investment of $30 million from Bitget, a decentralised derivatives trading platform. This boosted the company’s valuation to $300 million and spurred the name change to Bitget.
Experts say that this move imitates the success story of Trust Wallet, which launched its service as a non-custodial decentralised storage before being acquired by Binance in 2018. Later on, the network released its token on the Binance Smart Chain in 2020, spurring its market capitalisation tremendously, which reached an all-time high of $1 billion in 2022.
Bitget native token is set to support multiple use cases, such as swap exchanges, Web 3.0 investments and dApp monetisation.
BWB Bitget Airdrop
In an attempt to increase awareness, Bitget announced a six-week airdrop campaign with a unique point system to expand its user base and token use case. These points can be converted to BWB tokens later in the 2nd quarter of the year.
The wallet provider is to allocate 5% of the 1 billion BWB supply to users based on their activities, such as available balance, holding digital assets in Bitget and in-app swaps.
Users who engage in swap operations involving the ecosystem currency via other wallets, such as Meta Mask and Trust Wallet, might also be entitled to receive some points.
The network has also announced that new joiners and referrals will have special rewards, such as a 50-point sign-up bonus and other rewards to increase the wallet community.
Moreover, wallet users who received BKB points from the previous BitKeet ecosystem will be able to convert their reward points to BWB.
Bitget Wallet Crypto Utilities
Bitget wallet is a leading decentralised wallet provider in the Asia-Pacific region, with around 20 million users. This launch is expected to elevate the wallet user experience and investment opportunities, allowing crypto communities to use BWB for multiple dApp operations, staking campaigns, in-app purchases, and more.
The wallet app stems its utility from the Bitget crypto exchange, as a popular platform for spot and futures trading of decentralised assets, supporting over 200,000 crypto coins and tokens across hundreds of blockchains and mainnets.
Conclusion
Bitget announced its first token, BWB, with vast use cases around its ecosystem and dApp operations. The Bitget wallet crypto token release accompanies a unique airdrop system to reward current users and motivate new users to join the crypto ecosystem.
This announcement is expected to put the company head-to-head with leading wallet providers, such as Trust Wallet, Binance and Meta Mask, providing digital communities with vast swap transactions, Web 3.0 investments and cross-chain operations.
