Bitget Wallet
Self-custodial multi-chain crypto wallet, formerly BitKeep, claims 100M+ users.
On the record
Checkpoint: Possible ASIC or BaFin enforcement decision following 2025 regulatory warnings
The call
A large, fast-growing wallet with real payments traction, but opaque ownership, unaudited numbers, and near-zero switching costs leave it exposed to bigger, more regulated rivals.
Bitget Wallet lets users store and trade cryptocurrencies across multiple blockchain networks, claiming over 100 million users and offering payment cards in 50 countries. The problem is that larger competitors like Trust Wallet (owned by Binance) and Coinbase Wallet already do the same things and reach more people, so there is nothing unique stopping users from switching to them since they can take their private keys and move to another wallet anytime. The one thing that could matter is whether Bitget's payment card service keeps growing faster than Binance and Coinbase can build theirs out, because that is the hardest part to copy quickly, but all three companies have claimed unaudited user numbers and operate from unclear locations, so we cannot verify if Bitget is actually winning or just reporting bigger numbers than it should.
Why
01
AI pressure: None apparent. No AI product or agent is currently displacing wallet usage; the pressure here is rival wallets, not AI. Could AI do the core job? Only partly.
02
Bigger players: Trust Wallet (Binance) and Coinbase Wallet. Both rivals run live multi-chain wallets with card/payment features matching Bitget Wallet's, backed by larger exchanges. Could a giant copy it? Yes, easily.
03
What protects it. Its 150k+ issued cards across 50+ markets and self-reported 100M+ user base give it scale rivals haven't fully replicated yet.
What would change this call
Trust Wallet or Coinbase Wallet launches a card/payments product matching Bitget's 150k-card, 50-market footprint within 12 months. Would show Bitget's payments wedge has no durable lead over larger rivals.
ASIC, BaFin, or FCA issues a formal enforcement action or operating restriction against Bitget Wallet. Would show regulatory friction is escalating into real operational limits.
An independent, non-vendor audit verifies or contradicts the claimed 100M+ user count. Would show whether Bitget Wallet's growth story is real or inflated.
ASIC, BaFin, or FCA issues a formal enforcement action or operating restriction against Bitget Wallet. Would show regulatory friction is escalating into real operational limits.
An independent, non-vendor audit verifies or contradicts the claimed 100M+ user count. Would show whether Bitget Wallet's growth story is real or inflated.
Key numbers
- 100M+ claimed users
- 150,000+ cards issued in 50+ markets
- $31M H1 2026 card spend, +191% QoQ
Named risks
- Active regulatory friction: ASIC investor alert (2025-07), BaFin investigation, FCA-driven UK pause in 2024.
- All user/traction figures (100M+ users, card spend) are vendor self-reported with no independent audit found.
- Opaque Seychelles-registered parent with no disclosed single HQ, Wikipedia lists HQ as Unknown.
- Prior security incident (~$8M loss in 2022) creates precedent for future exploits as payments/card volume grows.
- Near-zero switching costs via seed-phrase portability let users move to better-capitalized rivals at any time.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Trust Wallet (Binance) | losing to | Binance-backed Trust Wallet has larger scale and distribution as of 2026, per Bitget's own competitive framing |
| Coinbase Wallet | contesting | Coinbase Wallet adopted similar TEE key architecture in 2025-2026, matching Bitget Wallet's security feature |
| MetaMask | contesting | MetaMask remains a comparable-scale peer with overlapping feature set as of 2026-07 |
| OKX Wallet | contesting | OKX Wallet is a direct exchange-linked structural peer competing on identical wallet features, per 2025-12-14 industry recap |
Questions people ask
- Is Bitget Wallet profitable?
- No independent revenue figures exist for Bitget Wallet specifically; it is folded into parent Bitget's broader ecosystem reporting. No profitability disclosure has been made public as of July 2026, and the company relies on trading and swap fees typical of the wallet category.
- Who owns Bitget Wallet?
- Bitget Wallet, formerly BitKeep, is owned by crypto exchange Bitget, which took a controlling stake via a $30M investment in March 2023 and rebranded the wallet on 2023-08-10. Parent Bitget is registered as Bitget Limited in Seychelles under the 2016 IBC Act.
- How many users does Bitget Wallet claim to have?
- Bitget Wallet claimed 100M+ users as of 2026-07-07, per its own press release, up from 80M claimed in mid-2025 and 20M in Q1 2024. These figures are self-reported by Bitget and have not been independently audited.
- Is Trust Wallet or MetaMask a bigger threat to Bitget Wallet?
- Both are direct rivals with matching feature sets, TEE key management, and swap aggregation. Binance's Trust Wallet and Coinbase Wallet are better capitalized and more regulated, meaning Bitget Wallet faces feature parity competition from larger, better-trusted incumbents as of 2026.
- Could AI replace Bitget Wallet's trading tools?
- Bitget's GetAgent (launched 2025-07-01) and GetClaw (2026-03-10) AI trading agents are commodity features shipped near-simultaneously by rival exchanges like Coinbase and OKX, so they are unlikely to be a durable differentiator even though Bitget reports 450k+ GetAgent registrations.
- Is it risky to join Bitget Wallet as an employee?
- There is active regulatory friction: Australia's ASIC issued an investor alert about unlicensed derivatives products in July 2025, Germany's BaFin has investigated the operating entity, and UK operations were paused then relaunched in 2024 after FCA restrictions, per Wikipedia as of 2026-07-20.
Timeline
- 2026-07-24Bitget obtains El Salvador DASP, Georgia TFZ custodial, and New Zealand FSP licenses
- 2026-07-07Bitget Wallet claims 100M+ users, payments overtake trading, 150k+ cards in 50+ markets
- 2026-06-17GetAgent Playbook launches, reports 30,000+ users in first week
- 2026-04-28Messari Pulse report cites GetAgent surpassing 450,000 registered users
- 2026-03-10Bitget launches GetClaw autonomous AI trading agent
- 2025-12-14TEE-based social login ships, part of industry-wide wallet shift
- 2025-07-16Bitget Wallet claims 80M users, 300% YoY growth
- 2025-07-01Bitget launches GetAgent AI trading assistant
- 2024-08-13Bitget Wallet claims 30M users, most downloaded wallet that month
- 2023-08-10BitKeep rebrands to Bitget Wallet after Bitget takes controlling stake
Revision history
26 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- BitKeep Upgrades to Bitget Wallet (2023-08-10)
- Bitget Wallet Reaches 20 Million Users (2024-03-19)
- Bitget Wallet Hits 100M Users (2026-07-07)
- Faster Trading, Better Assets (2023-08-10)
- Bitget Wallet Hits 30 Million Users Globally (2024-08-13)
- Bitget Q2 2025 Transparency Report (2025-07-16)
- Bitget Wallet Hits 100M Users, Payments Just Overtook Trading (2026-07-07)
- Bitget registers in Seychelles (2022-12-14)
- Bitget (2026-07-20)
- Bitget Number of Employees 2026 (2026-06-29)
- Looking back at the Web3 wallet battle in 2025 (2025-12-14)
- Bitget Transparency Report 2025 (2026-01-12)