Bitget Climbs To Top 5 In App Rankings Amid OKX’s Nigeria Exit

Bitget, one of the leading crypto exchanges globally, is making headlines in Nigeria. The exchange has entered the top five ranking on the Google Play app store. This impressive development comes amid significant regulatory changes in Nigeria’s digital asset space that impacted many other major exchanges.

Furthermore, crypto participants have switched to Bitget seeing it as a better alternative amid the exit of OKX from the country. The crypto exchange’s landmark growth has further allowed the exchange to secure the leading positions in Nigeria’s crypto market.

Bitget Making Headlines In Nigeria

Nigeria has seen a significant shift in its centralized exchange (CEX) landscape, given the recent regulatory and taxation changes. However, amid this, Bitget has soared to the top five on the Google Play app store’s top free apps chart in Nigeria.

This move hints towards the growing popularity of the exchange, outshining other players like Binance, and KuCoin, among others. The OKX’s exit from the Nigerian market led to this paradigm shift in the industry, making Bitget one of the leading exchanges in the country.

Meanwhile, other players in the field have struggled lately amid the country’s shifting regulatory environment. For instance, Binance faced significant challenges and discontinued its several operations amid ongoing scrutiny. It’s worth noting that Binance executives are currently facing money laundering and other related charges in the country.

Simultaneously, KuCoin has introduced a 7.5% Value Added Tax (VAT) on all crypto transactions for Nigerian users recently. On the other hand, Coinbase has been entirely prohibited from operating in the Nigerian market. These developments have caused dissatisfaction among Nigerian users, forcing them to shift their focus towards other exchanges.

Amid this, the Bitget appears to be gaining the investors’ attention and rapid adoption in the domestic market. The exchange’s CEO Gracy Chen has commented on the blockchain technology’s potential in driving economic development in Africa. She stated:

Blockchain presents a unique opportunity for Africa to leapfrog traditional economic development stages and embrace the digital economy. We at Bitget are committed to providing Web3 and crypto services to African users within the bounds of regulatory guidelines.

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Strategic Expansion Plan

The recent development reflects Bitget’s commitment to the African market, while a focus on regulatory compliance has positioned it as the traders’ favorite. Besides, the recent exit of OKX has also bolstered its market presence, as seen by the recent jump in the app store rankings.

Meanwhile, the platform’s approach also contradicts other players, who are struggling with the latest shift. The exchange attracted a robust trader base in Nigeria by adhering to the local crypto regulations and remaining committed to the region.

The rise of the exchange in Nigeria also reflects its long-term plans for growth and expansion in Africa. Besides, the exchange’s focus on compliance and innovative approach also marks it as a leading player in the country’s rapidly shifting crypto landscape.

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