Fragmentation and complex person expertise stay two of probably the most vital obstacles to cryptocurrency’s mainstream adoption, in response to a brand new trade report. Most customers now use at the very least two wallets to handle their cryptocurrency investments.
The lack of interoperability throughout blockchains means customers have to create multiple wallets to work together with totally different networks, with customers having at the very least two wallets rising by 16% over the previous yr.
According to a analysis report revealed by onchain person expertise platform Reown and crypto intelligence agency Nansen, 62% of crypto customers reported utilizing at the very least two wallets over the previous three months, up from 45% in 2024.
More than 18% of respondents mentioned safety was their prime concern associated to pockets use, whereas 10.6% cited poor person expertise as the most important problem.
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AI integration could also be subsequent “breakthrough” for crypto wallets
“We’re at a pivotal moment in the evolution of wallet UX,” in response to Eowyn Chen, the CEO at Trust Wallet. “The next wave of users, especially those coming from traditional Web2 or emerging markets, are bringing new expectations that challenge how we design tools and interfaces.”
Chen mentioned wallets are shifting from asset storage instruments to turning into the first gateway to Web3 providers, together with digital identification, monetary merchandise, governance and gaming.
“That’s why we see wallets evolving into intelligent, personal companions — tools that not only hold your assets, but understand your behaviour, preferences, and needs,” she mentioned.
Chen added that integrating artificial intelligence agents may assist customers navigate Web3 as simply as they store on-line, whereas additionally lowering dangers from scams resembling phishing attacks. These scams sometimes contain tricking victims into sending property to faux pockets addresses.
The want for extra sturdy wallets grew to become extra obvious after an unknown attacker stole $330 million value of Bitcoin (BTC) in a social engineering rip-off from an elderly US citizen, Cointelegraph reported on April 28.
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Mobile wallets dominate, {hardware} pockets utilization on the rise
Out of the 1,000 surveyed contributors, 51% of customers most well-liked utilizing a cellular pockets, down from 54.8% in 2024.
Only 10% of the respondents most well-liked utilizing a {hardware} pockets, up from simply 7% a yr in the past, signaling that {hardware} wallets are slowly gaining traction amongst extra superior crypto customers. However, solely 3% of recent traders reported utilizing a {hardware} pockets.
Social wallets, that are related to a person’s electronic mail or different social account and require no seed phrase, have “transformed onboarding,” and are on the “forefront of UX innovation, quickly adopting technologies like passkey signers and gas abstraction,” in response to Derek Rein, chief technical officer at Reown. He added:
“Crucially, they prioritize simple, easy design, users shouldn’t need to understand gas tokens or chain switching just to transact.”
However, customers are nonetheless hesitant, with 39% of surveyed respondents saying that improved safety and belief would assist them undertake social wallets.
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