Cryptoasset ownership and adoption continue to increase steadily, encouraging new investments and developments in the crypto wallet market too. In fact, data compiled by Statista shows that downloads of the ten most popular wallet apps began to take off from December 2020, while Blockchain.com saw worldwide downloads of its software-based wallet increase to more than 80 million by December 2021.
This goes to show that increasing crypto ownership and use generally results in the increasing use of wallets, a trend that many industry participants expect to continue in 2022. Not only that, but industry players predict that we’ll see many wallets expand the services they offer, while the growth in longer-term holders might also see the software-to-hardware ratio shift more in the favor of hardware wallets.
“The number of addresses with positive balances for bitcoin surged last year and reached 38m, which has caused a parallel spike in wallet usage and new wallet users. Many traders and investors typically use a form of custodial wallet to allow for more control over an individual’s trading options but also can lean on noncustodial wallets to branch out and hold burgeoning alternative coins or take advantage of DeFi applications,” said Adam Lowe, the Chief Innovation Officer for hardware wallet manufacturer Arculus.
Read the full article: Crypto Wallet Trends in 2022: More Privacy, Security, Features, and Choice
