The importance of user-friendly crypto wallets

Cryptocurrencies have the potential to change how the world views money, offering benefits such as accessibility and decentralization. Because of their foundation in blockchain technology, people can buy and use cryptocurrencies without intermediaries, engaging directly with a buyer or seller on a digital ledger. For those unable to open a bank account due to lack of documentation or for those in countries where governments have a history of freezing access to money stored in banks, accessibility and privacy have become much more critical to achieving security and financial freedom.

Moreover, businesses are now increasingly accepting cryptocurrencies as a form of payment, making it easier for people to use digital currency in everyday transactions. As of November 2022, some of the major companies that accepted cryptocurrency included online marketplace Etsy and American online retailer Overstock, as well as several fast food restaurants in Venezuela.

The success of early adopters in implementing digital currencies has led to continued business adoption and, more recently, government interest. Recognizing that people pay for products and services with digital currency, it is only fitting that governments look at ways to set and implement rules for safe use. Although some critics are quick to point to regulation as taking away from the benefits that digital currencies provide, such as freedom from middlemen, the counterargument suggests that rules are essential to further legitimize cryptocurrencies and increase large-scale global adoption.

Considering both the business and government side, online data from Blockware Intelligence suggests that Bitcoin (BTC) adoption will reach 10% worldwide by 2030. Moreover, the total number of DeFi active users has steadily increased over the past three years, surpassing the 6 million marks this year, according to data from Dune Analytics. While that’s an impressive growth forecast given today’s numbers, 10% still only represents a fraction of the world, leading many to wonder what the missing piece to unlocking mass-scale cryptocurrency adoption is.

Source: Dune Analytics

Setting the stage for adoption

The answer comes down to the ease of use of crypto’s underlying technology. Anyone interested in using a digital currency must learn how to navigate the related infrastructure, including exchanges and cryptocurrency wallets. Crypto wallets are necessary, as digital assets cannot be physically stored, making it necessary for individuals to use a secure digital storage solution. Since these wallets operate in a digital medium, they require cryptographic signatures and authentication to protect the assets stored inside.

Since these concepts are new to most people, interacting with an online wallet has proven difficult for some users to understand. Unfortunately, many have let the confusion and intimidation of these technologies stop them from using cryptocurrencies at all.

Also, for those who have gotten past the initial confusion, many wallets still have limited functionality or a poor user experience. This often makes it difficult for users to perform common tasks such as sending and receiving funds or managing their assets, especially when they span different blockchain networks.

Overall, the combination of these factors can make using a cryptocurrency wallet seem like a complex and daunting task, even for tech-savvy users. Therefore, improving the user experience and making wallets more accessible and user-friendly can help drive mass adoption of cryptocurrency.

Paves the way forward

To overcome this gap in the market, businesses are actively looking for solutions that make the cryptocurrency infrastructure more usable. One such company created Noone Wallet, a comprehensive crypto wallet that offers a safe and secure platform to store over 1,000 cryptocurrencies.

A member of the Noone team said:

“As the world moves towards a future of decentralized finance, mass adoption of cryptocurrencies is no longer a matter of if, but when. No Wallet is paving the way for this shift, providing users with a secure and accessible platform to join the growing number of individuals and businesses embracing the future of money.”

The team behind Noone Wallet currently relies on extensive user interface research to create a crypto wallet that seamlessly blends cutting-edge features with unparalleled ease of use. The aim is to eliminate confusing interfaces, instead creating more convenient wallets with streamlined onboarding to an industry standard.

The Noone wallet has a non-custodial approach, which means that users have full control over crypto assets and the wallet provider does not have access to the private keys. To ensure maximum security, Noone Wallet has also implemented additional security features such as borders, pin codes, passphrases and biometrics.