Protocol Theory and Tangem Release New Study on the Rise of Active Self-Custody

From Storage to Participation: The Rise of Active Self-Custody

Self-custody sits at the core of crypto’s value proposition, with around two-thirds of crypto users describing it as important.

Yet in practice, adoption remains limited, with most assets still held on centralized platforms.

Our new report with Tangem, From Storage to Participation: The Rise of Active Self-Custody, examines how this gap develops, drawing on data from more than 3,100 U.S. crypto users.

The research explores how self-custody is understood in the market, how direct experience reshapes perception, and how confidence influences whether users take the step toward adoption. It also examines how the role of self-custody is expanding as user behavior and wallet capabilities evolve.

Key Findings

• Belief outpaces behaviour: Strong conviction in self-custody does not translate into adoption, with most assets still held on centralized platforms
• Perceived relevance remains constrained: Many users continue to interpret self-custody through narrow, outdated mental models tied to passive storage
• Experience reshapes perception: Users who adopt report higher convenience, flexibility, and usability than non-users anticipate
• Confidence determines adoption: Concerns around irreversible loss and personal responsibility continue to limit uptake

The report introduces Active Self-Custody as a framework for understanding how users increasingly manage assets across storing, growing, and spending activities while maintaining direct control.

Access the Report

For teams building wallets, infrastructure, or onchain products, this research provides a clearer view of how adoption develops and where future growth is likely to emerge.

It highlights how perception, experience, and confidence shape user behaviour, and where targeted product, UX, and positioning decisions can unlock the next phase of adoption.

If you’re working on self-custody, wallets, or onchain UX, this is essential reading.

You can access the report here.

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