Crypto Users Hedge Bets: 60% Juggle Multiple Wallets (Because Trust Is a Luxury)
Wallet diversification isn’t just for traditional finance dinosaurs anymore. New data from Reown reveals over 60% of crypto users now manage two or more wallets—proof that even in decentralization, nobody trusts a single point of failure.
Security or paranoia?
The rise of multi-wallet strategies mirrors Wall Street’s ’don’t-put-all-eggs-in-one-basket’ mantra—except here, the baskets are digital, and the eggs might vanish if you misplace a seed phrase.
The cynical take:
Maybe they’re just preparing for the next exchange collapse. After all, nothing teaches self-custody like watching a CEO ’accidentally’ lose $3 billion in user funds while vacationing in the Bahamas.
“A surge in innovation”
Houlgrave noted that the maturing wallet ecosystem has seen “a surge in innovation” in the past year, pointing to solving liquidity fragmentation across chains, and addressing user experience challenges around gas as notable achievements. She also highlighted positive moves in enabling seamless wallet and app connectivity and “working on ensuring that we can deliver better UX AND better security,” as notable achievements.
But the report also highlighted an education gap around the latest wallet technology. Most users surveyed were unaware of smart wallets, with 58% unsure how they work.
And while mobile wallets remain the dominant method for holding crypto, with over half (51%) preferring them, that’s dropped from 54.8% a year earlier.
The slack has been taken up by hardware wallets, with one in ten users preferring the devices, up 3% from 2024.
“People don’t want to completely change how they interact with wallets, apps, or chains,” Houlgrave explained, adding that, “they want easy, fast experiences that fit into what they’re already doing.”
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