MetaMask is the most popular crypto hot wallet, with more than 22.66 million app downloads to date, according to a recent report from CoinGecko. MetaMask is followed by the Coinbase wallet, Trust Wallet, and Blockchain.com Wallet, each with a little over ten million installations.
Bitcoin.com wallet ranked fifth with five million installations. In total, the top four crypto hot wallets represent 66.6% of total wallet installations with a combined total of 54.06 million downloads. The report, entitled "Most Popular Crypto Hot Wallets for Self-Custody" adds that "the ten most popular crypto hot wallets have more than four times the number of installations as less popular wallets." Half of the top ten wallets are either supported or owned by centralized crypto exchanges, indicating centralized entities' interest in self-storage services.
The Coinbase wallet and Crypto.com DeFi wallet were developed by their respective exchanges, while Trust Wallet was acquired by Binance in 2018. BitKeep is partially supported by the Bitget exchange. Additionally, SafePal hardware wallet integration received investment from Binance Labs.
There are currently at least 54 crypto hot wallets, according to the report. Android mobile devices were found to have nearly three times as many installations as browsers. The CoinGecko study examined hot wallet installations on browsers and mobile devices on August 1, 2023, using CER.live and public data. Data comes from Android mobile devices and Chrome, Brave, Edge, Firefox, and Opera browsers only. Data from iOS, Safari, MacOS, Linux, and Windows is not available.
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MetaMask is the most popular crypto hot wallet based on the number of app downloads, according to the report.
Coinbase Wallet, Trust Wallet, and Blockchain.com Wallet each had less than half as many downloads as MetaMask installations.