Reown and Nansen Report: 62% of Crypto Users Manage Multiple Wallets Due to Network, Security Needs; 58% Lack Smart Wallet Understanding

A recent report by Reown and Nansen reveals that 62% of active cryptocurrency users now manage two or more wallets. The primary reasons cited for this trend include the need to use different wallets for various blockchain networks, accounting for 48%, and heightened security concerns, which affect 44% of users. This fragmentation in wallet usage reflects challenges in security, features, and interoperability within the crypto ecosystem. Additionally, 58% of users reportedly do not fully understand smart wallets, further complicating wallet management. In response to this complexity, some platforms like Zelcore have developed multi-functional wallets designed to consolidate activities such as buying, selling, swapping, and cross-chain management across desktop, mobile, and browser interfaces. Tools that enable tracking and monitoring of multiple wallets and decentralized finance (DeFi) portfolios through a unified dashboard are also emerging to address the organizational demands of managing multiple wallets.