Crypto Wallets Users Grew by Over 6% in 2022: Huobi

2022-12-18 20:52

New Huobi research has revealed that the number of crypto wallet users worldwide grew by 6.3% to 85 million as of November 2022.

The report said non-self-custodial wallets could potentially introduce Web2 users to Web3. It noted that these wallets could do this because they have simplified the onboarding process and the complexity attached to the crypto industry.

Huobi wrote that wallets have become “a must-have for new users to enter the crypto world.” According to the firm, it is one of the most critical infrastructures in the blockchain ecosystem.

Source: Huobi

Meanwhile, crypto wallets generated total revenue of $1.398 billion in 2022. The earnings are expected to cross $3 billion within the next decade.

2022 was the Year of Crypto Wallets

Crypto wallet usage came to the fore during the recent FTX implosion, where several analysts highlighted the importance of self-custody.

Several crypto hardware wallets like Trezor and Ledger reported a surge in demand due to the FTX contagion. During the height of the run, reports revealed that roughly 15 million Bitcoin went into self-custody.

Binance-backed Trust Wallet also saw an increase in its use as CEO Changpeng ‘CZ’ Zhao shilled the importance of self-custody. According to CZ, self-custody is a fundamental human right.

Challenges Still Abound

Despite the successes in the space in 2022, the ecosystem still faces several challenges.

Huobi highlighted crypto wallets’ three main challenges: user-friendliness, security, privacy, and regulation.

According to Huobi, most wallet brands have poor interaction with their users. Besides, discussions surrounding privacy invasion were raised when ConsenSys (MetaMask and Infura’s parent company) revealed it would collect users’ IP and ETH addresses.

Meanwhile, CZ recently cautioned that around 99% of people trying to self-custody their assets would lose them. He argued that these people might not store their security keys securely or even back them up correctly.

He added that there are other challenges self-custody poses to users that a centralized exchange might be able to solve.

The post Crypto Wallets Users Grew by Over 6% in 2022: Huobi appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto huobi grew 2022 users wallets november

crypto huobi → Результатов: 126


Фото:

Huobi Plans Takeover of Major Japanese and South Korean Crypto Exchanges

Huobi, China’s largest crypto trading desk Huobi is reportedly pursuing an aggressive globalization agenda that involves the acquisition of major crypto exchanges across Asia. Huobi Eyes bitFlyer and Bithumb Acquisition According to an exclusive report by Chinese crypto news source @WuBlockchain, Huobi is set to purchase major Asian crypto exchanges bitFlyer and Bithumb.

2020-11-18 00:00


A Creative Incentivized Platform or Just Another Disguised ICO? The CoinBene Debate

Ardent crypto fans have noticed that a new king has taken over the crypto exchange scene – and he brought some friends. With Binance and OKEx having been the undisputed leaders – with the crown switching regularly between the two – the status quo had become virtually unchallenged. Huobi came in third, with Bitfinex, Upbit, […]

2018-6-28 18:00


Фото:

Bloomberg fatal records Crypto Advertise File From World’s Third Biggest Trade Huobi

Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi’s Cryptocurrency Index, according to a press release shared with Cointelegraph today, June 21. Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether (USDT), including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP),

2018-6-21 22:40


Фото:

Huobi’s Cryptocurrency Market Index Now On Bloomberg Terminal

Cryptocurrency exchange Huobi announced that financial data firm Bloomberg has added the HB10 crypto market index on its terminal for subscribers. Huobi launched HB10 index last month, which uses weighted samples to track a pool of top 10 crypto assets traded on its platform in real-time against tether (USDT), the dollar-pegged cryptocurrency, based on their liquidity

2018-6-21 11:33