Chinese Crypto Wallet Data Gives Insights About Mysterious Market

A new interview with a representative from imToken, which is a popular Chinese crypto wallet provider, has given insight into the cryptocurrency habits of the population of China. As the latest cryptocurrency news show, the crypto asset enthusiasts have a tendency to prefer non-custodial storage solutions and mobile-accessed wallets are by far the most popular compared to their desktop counterparts.

Lucas Huang, the business growth manager at the world’s largest Ethereum wallet provider, imToken, recently spoke to Global Coin Research in an interview where he offered insights observed about the nation’s digital asset habits from the company’s experience in serving the marketplace.

Live! with @imtokenofficial on the state of Chinese wallets and Chinese user behavior https://t.co/5ig4WzvIYG

— Global Coin Research 🤔👖🚂🎟🐙 (@Globalcoinrsrch) August 9, 2019

The interview features the representative of the Chinese crypto wallet provider Huang detailing that Chinese crypto enthusiasts are most served by mobile wallets. This, according to him, is due to the vast numbers of mobile phones compared to the computer systems – especially in the rural areas.
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The coming altcoin news also show that there is a tendency for Chinese crypto holders to prefer centralized storage solutions, as Huang shared. The representative from the Chinese crypto wallet company said that many investors and traders in the nation lack the confidence that is required to set up adequate storage of their own.

He also added that since there hasn’t been any kind of major exchange hack which involved many Chinese cryptocurrency speculators or them losing their holdings, there is only a little incentive to move funds from exchanges and into wallets under their own control.

Despite the Chinese crypto wallet’s representative’s observation that the second largest use case of Chinese cryptocurrency users was long-term speculation, there appears to be little holding of ERC20 tokens as the altcoin news show. This is very interesting for many, especially because Huang also said that Ethereum had by far the most interest surrounding it – when compared to all smart contract platforms.

Huang said that the network sees the most decentralized application engagement from its users, despite the fact that imToken is also supporting projects from other blockchains. The Chinese crypto wallet provider imToken and its representative, Huang, stated that the largest age group of Chinese cryptocurrency users was 18 to 24 – and that there is a general resistance to changing wallet providers.