Majority of Crypto Users Now Manage Multiple Wallets: Reown Report

A new survey conducted by on-chain UX platform Reown with support from blockchain analytics firm Nansen reveals that 62% of active crypto users now manage two or more wallets.

This marks a 15% increase since 2024, the report revealed. When asked why, 48% of respondents said they need different wallets for different networks and chains, while 44% cited security – a significant jump from 32.8% in 2024.

However, 41% of users still face difficulties managing and navigating between wallets, and only 23.8% are aware of smart contract wallets, with even fewer actively using them. These findings show that while crypto usage is growing, users need platforms to become simpler, safer, and more user-friendly.

Bitcoin and Stablecoins

Unsurprisingly, the study reveals that 64% of respondents hold Bitcoin. Moreover, among newcomers who joined in the last six months, 56% own Bitcoin, surpassing Solana (22%) and memecoins (19%).

Notably, stablecoin ownership nearly doubled to 37% from 20% last year, underscoring a growing user appetite for stable digital assets, the report highlighted.

“The growth we’re seeing in stablecoin use, whether for everyday payments or cross-border transfers, shows that people trust digital currencies that are stable and predictable,” Jeannie Lim,
Head of APAC at Paxos, is quoted in the report.

In terms of real-world use, 72% of “Real Worlders” used crypto for payments or peer-to-peer transactions in the past three months. Meanwhile, 53% used it to buy goods and services, while 29% said payments were their favorite onchain activity.