A recent report by Reown indicates that 62% of crypto users manage two or more wallets, marking a 15% increase from the previous year. This survey, conducted by YouGov among 1,000 active users in the U.S. and UK, reveals a fragmented crypto ecosystem. Many users require multiple wallets to manage access across different networks and chains. Concerns over security also drive users to employ multiple wallets, with 44% citing this reason, a rise from 32.8% previously. The report stresses a need for greater simplicity, security, and connectivity in wallet experiences, with 40% of respondents seeking wallets that support a wide variety of tokens and chains. The wallet landscape has seen significant innovations over the past year, particularly in addressing liquidity fragmentation and enhancing user experience around transaction fees. However, there remains a significant knowledge gap as 58% of users are unfamiliar with advanced wallet technologies, such as smart wallets.

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