Crypto Wallet Trends in 2022: More Privacy, Security, Features, and Choice
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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.
As another indication of just how big the crypto wallet sector has become, Ledger reported having sold a total of 3m of its Nano (S and X) devices as of June 2021, when it disclosed a USD 380m Series C round.
And for industry figures, the trend of growing downloads and/or sales is likely to continue this year.
“Wallet ownership certainly grew in line with ownership in 2021. We estimate this growth is at a rate of somewhere between 1.2 and 2 times as much, as many owners have more than one wallet or account,” said David Janczewski, CEO of crypto security and insurance firm Coincover.
Janczewski also observes that his firm is seeing more and more investors use their own wallets, and he forecasts this to continue in 2022.
“It is not an either-or solution,” he added. “Customers typically have their own wallet as well as wallets on exchanges.”
Other commentators also predict that use of wallets will grow in parallel with the
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