Wealthy Americans Lead the Crypto Wallet Revolution, but Everyday Users Remain on the Sidelines
Americans with annual incomes over $100,000 are currently three times more likely to own a self-custody crypto wallet than those earning $40,000 or less. This insight, revealed by Mercuryo CEO Petr Kozyakov, highlights a significant disparity in digital asset adoption across income levels.
Kozyakov recently discussed his findings in an interview with CCN, noting that the crypto wallet landscape is less of a financial revolution for the masses and more of an exclusive club for higher earners—at least for now.
Usability and Trust Are Holding Most People Back
According to Kozyakov, the two biggest barriers for average Americans are usability and confidence. Self-custody wallets like MetaMask or Trust Wallet require a certain level of technical knowledge and comfort with managing one’s own private keys—which many people simply don’t have yet.
And the fact is, when you’re struggling with bills or working multiple jobs, learning the ins and outs of securing your cryptocurrency can feel like an insurmountable hurdle. For many, the thought of losing savings due to a simple mistake, like misplacing a backup phrase, is a strong deterrent.
Crypto Wealth and the Digital Class Divide
The soaring interest in crypto wallets among the rich isn’t surprising. Higher-income individuals often have more resources to experiment with new technology, and they’re more likely to access financial education and privacy tools that increase confidence in digital assets.
The growing popularity of self-custody wallets among the wealthy mirrors a broader shift: the digital divide is now becoming a crypto divide. If this gap continues, cryptocurrency risks becoming another tool for consolidating generational wealth, rather than democratizing finance.
Paving the Way for Mass Adoption – What Needs to Change?
For cryptocurrency to fulfill its promise of financial inclusion, platforms must become more intuitive, accessible, and secure for everyone. Kozyakov argues that user-friendly solutions and better education are needed to empower the majority of Americans—not just those with six-figure salaries.
This also raises questions about the regulatory environment. If the U.S. government and organizations like the Securities and Exchange Commission want to avoid deepening economic inequality, they’ll need to support safe, equitable access to digital finance for all.
Young People and the Fight for Fair Financial Futures
For young Americans already grappling with student debt, inflation, and a tough job market, the crypto divide is more than just a tech issue—it’s a political one. Making digital assets accessible could offer an escape from traditional banking barriers, wage gaps, and systemic obstacles that keep wealth out of reach for many.
As the debate about the future of money heats up, it’s critical for younger generations to demand not only innovation but also equitable access and protections. If we want crypto to be a tool for financial liberation, it can’t stay a privilege of the already rich.
For more in-depth coverage, visit the original report from CCN. Want to understand more about wallets? Here’s an explainer on cryptocurrency wallets from Investopedia.
