Most Popular Crypto Hot Wallets for Self-Custody
Published 1 minute earlier on MetaMask is the most popular crypto hot wallet, with over 22.66 million app downloads to date, according to a new report by CoinGecko.
Key Points:
– MetaMask is the most popular crypto hot wallet with over 22.66 million app downloads.
– Coinbase Wallet, Trust Wallet, and Blockchain.com Wallet follow closely with slightly over ten million installations each.
– The top four hot wallets represent 66.6% of total wallet installations, accounting for 54.06 million downloads.
– Half of the top ten wallets are backed or owned by centralized crypto exchanges.
– Android mobile devices have almost three times more installations than browsers.
The report by CoinGecko titled “Most Popular Crypto Hot Wallets for Self-Custody” reveals the dominance of MetaMask as the leading crypto hot wallet with over 22.66 million app downloads. Following closely are Coinbase Wallet, Trust Wallet, and Blockchain.com Wallet, each boasting slightly over ten million installations. Bitcoin.com Wallet ranks fifth with five million installations. Collectively, these top four wallets account for 66.6% of total wallet installations, with a whopping 54.06 million downloads.
The study also highlights the significant presence of centralized crypto exchanges in the self-custody space. Half of the top ten wallets are backed or owned by these exchanges, indicating their interest in providing self-custody services. Coinbase Wallet and Crypto.com DeFi Wallet were developed by their respective exchanges, while Trust Wallet was acquired by Binance in 2018. BitKeep enjoys partial backing from Bitget exchange, and SafePal’s hardware wallet integration received investment from Binance Labs.
The report further reveals that there are currently at least 54 crypto hot wallets available. Android mobile devices have emerged as the preferred platform for hot wallet installations, with almost three times more installations than browsers. The study analyzed hot wallet installations on Android mobile devices and browsers such as Chrome, Brave, Edge, Firefox, and Opera.
In conclusion, MetaMask stands out as the most popular crypto hot wallet, with a significant lead in terms of app downloads. The dominance of centralized exchanges in the self-custody space is evident, with half of the top ten wallets being backed or owned by these entities. The preference for hot wallet installations on Android mobile devices further emphasizes the growing popularity of crypto self-custody among users.
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