Data shows that the number of cryptocurrency wallet users exceeds 45 million

The number of cryptocurrency wallets has been increasing over the years. The latest data from shows that this number has grown exponentially. As of the last week of January 2020, the number of cryptocurrency wallet users has increased to more than 45 million. In the second quarter of 2019, this number rose sharply, exceeding 40 million at that time, and the trend has been good ever since. The number of users of hosting platforms has grown significantly over the past few years. As market confidence grows, the numbers continue to rise, and the long-running debate over managed and unmanaged continues.

Marco Santori, president and chief legal officer of, emphasizes the need for unmanaged solutions. Although there are pros and cons, he believes that if there is no unmanaged solution, it is similar to "rebuilding Wall Street with different technologies." The main advantage of unmanaged wallets is that they are not attacked by online hackers. Depositing user funds on exchanges makes them vulnerable. A recent study conducted by the unmanaged wallet platforms Ambo and MyCrypto found that 66.5% of cryptocurrency holders use unmanaged solutions.