A survey by Tangem and Protocol Theory shows that encryption users ' approval of self-hosted wallets is increasing. Respondents preferred to control assets in their own hands rather than relying entirely on centralized exchanges or other third-party platforms.

66 per cent consider self-custody important

The survey collected 3,172 responses. The results showed that 66 per cent of respondents considered self-care important, but only 15 per cent of those who actually used the hardware wallet. This indicates that the market ' s recognition of the autonomous custody of assets is growing, but that the actual use is still significantly behind.

A further 32 per cent of respondents indicated that hardware wallets were not relevant to themselves, indicating that many users had accepted the concept of self-hosting but had not yet considered hardware equipment as a necessary tool.

  • 3,172 persons interviewed
  • 66% consider self-custody important
  • 15% Physical use of hardware wallets

Hardware wallet users are more involved in chain activities

Surveys show that holders of hardware wallets tend to prefer long-term holdings rather than frequent passive transactions. However, this segment of the user population is not conservative, but rather a group of people who are more ecologically active.

They do not only deal, but are also directly involved in DeFi through wallets, payments, stable currency management and web3 interaction. This means that users of self-custody tools tend to become more involved in chain activities than in the long-term storage of assets.

Platform events undermine exchange confidence

The survey found that the shift to self-custody by users was related to the frequent problems with trading platforms over the past few years. Incidents such as the collapse of FTX and the theft of WazirX funds have weakened the trust of some users in the centralized platform.

At the same time, exchanges continue to face regulatory reviews, which may also lead to adjustments in the way the platform operates. The increase in transaction costs has also prompted some users to reconsider the way in which assets are stored.

The report mentions that when users begin to try to host themselves, attitudes tend to change markedly. The reason for this is that users feel more directly their control over the funds, which is one of the contexts in which self-custody has received renewed attention.