Metamask takes top spot as most popular wallet with 22 million downloads: CoinGecko report

Companies • August 9, 2023, 10:05AM EDT
Published 1 minute earlier on
The Block

Quick Take

  • MetaMask is the most popular crypto hot wallet by amount of app downloads, according to a report.
  • Coinbase Wallet, Trust Wallet, and Blockchain.com Wallet each have fewer than half MetaMask’s installations.

MetaMask is the most popular crypto hot wallet, with over 22.66 million app downloads to date, according to a new report by CoinGecko.

MetaMask is followed by Coinbase Wallet, Trust Wallet and Blockchain.com Wallet, with each boasting slightly over ten million installations. Bitcoin.com Wallet comes in fifth place with five million installations. In total, the top four crypto hot wallets represent 66.6% of total wallet installations with a combined 54.06 million downloads.

The report, titled "Most Popular Crypto Hot Wallets for Self-Custody" added "the ten most popular crypto hot wallets have over four times the number of installations for less popular wallets."

Half of the top ten wallets are either backed or owned by centralized crypto exchanges, indicating the interest centralized entities have in self-custody services. Coinbase Wallet and Crypto.com DeFi Wallet were developed by their respective exchanges, whilst Trust Wallet was acquired by Binance in 2018. BitKeep is partially backed by the Bitget exchange. Also, SafePal’s hardware wallet integration received investment from Binance Labs.

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CER.live, coingecko.com/research

Ten most popular hot wallets used for crypto self custody (Source: CER.live, coingecko.com/research)

There are currently at least 54 crypto hot wallets, according to the report.  Android mobile devices were found to have almost three times more installations than browsers.

The CoinGecko study examined hot wallet installations on browser and mobile on August 1, 2023, using CER.live and public data. The data was from Android mobile devices and Chrome, Brave, Edge, Firefox and Opera web browsers only. Data from iOS, Safari, MacOS, Linux and Windows was unavailable.


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Brian McGleenon is a UK-based markets reporter for The Block. He has worked as a financial journalist and producer for multiple news outlets over the years, such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard, and The Daily Express. Brian is also a screenwriter and producer with one feature film produced and one in development with Northern Ireland Screen. Apart from web3 and cryptocurrency developments, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity research. Get in touch via email [email protected].

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