A brand new survey by blockchain analytics agency Nansen and on-chain UX platform Reown has discovered that 62% of crypto customers handle two or extra wallets, up 15% from the earlier yr.
The YouGov survey of 1,000 lively crypto customers within the U.S. and UK factors to a fragmented crypto ecosystem, with 48% of customers needing to make use of a number of wallets to entry completely different networks and chains.
Crypto customers are additionally more and more security-conscious, with 44% utilizing a number of wallets as a safety measure, up from 32.8% the yr earlier than.
The report’s findings present that the crypto business must concentrate on “making issues less complicated, safer, and extra related,” mentioned Reown CEO Jess Houlgrave.
There’s a transparent urge for food amongst crypto customers for extra streamlined person experiences, with over a 3rd (40%) of these surveyed citing assist for a variety of tokens and chains as a key characteristic they search for in a crypto pockets.
“A surge in innovation”
Houlgrave famous that the maturing pockets ecosystem has seen “a surge in innovation” previously yr, pointing to fixing liquidity fragmentation throughout chains, and addressing person expertise challenges round fuel as notable achievements. She additionally highlighted constructive strikes in enabling seamless pockets and app connectivity and “engaged on guaranteeing that we are able to ship higher UX AND higher safety,” as notable achievements.
However the report additionally highlighted an training hole across the newest pockets know-how. Most customers surveyed had been unaware of good wallets, with 58% not sure how they work.
And whereas cell wallets stay the dominant technique for holding crypto, with over half (51%) preferring them, that’s dropped from 54.8% a yr earlier.
The slack has been taken up by {hardware} wallets, with one in ten customers preferring the units, up 3% from 2024.
“Folks don’t need to utterly change how they work together with wallets, apps, or chains,” Houlgrave defined, including that, “they need simple, quick experiences that match into what they’re already doing.”
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