A recent report by Bitget Wallet highlights a significant trend in cryptocurrency usage, showing that users in emerging markets rely on crypto wallets for everyday payments far more than users in developed countries. Based on a survey of 4,599 wallet users segmented by age groups (Gen Z, millennials, Gen X and older) and global regions, the report reveals diverse crypto engagement patterns worldwide.
Emerging markets, including Southeast Asia, South Asia, and Africa, lead the adoption of crypto wallets for various use cases, primarily sending crypto to others, contrasting with Europe where over 40% of users mainly trade crypto via wallets. In emerging regions, crypto wallets often serve as the main financial tool due to limited access to traditional banking and payment services. Additionally, users in these markets are attracted to earning airdrop rewards given relatively lower income levels.
According to Bitget CEO Gracy Chen, this reflects a fundamental shift: crypto wallets are evolving from mere crypto ecosystem extensions into core components of new-age financial systems. Bitget is adapting by enhancing wallet accessibility for non-crypto-native users. In North America and East Asia, engagement is split between trading and sending crypto, with East Asia showing the highest levels of both activities and a long-term holding rate of 43%.