Why Do Small Crypto Wallets Struggle to Convert Users into Revenue?

During the TOKEN2049 event in Singapore, Yana Mar, Head of B2B and Partnerships at ChangeNOW, highlighted a recurring issue in the world of small-scale cryptocurrency wallets: the difficulty in converting users into revenue. The absence of essential features, such as swap buttons, leads users to turn to other platforms, taking their fees—and potential profits—away from these apps.

The Conversion Challenge: Why Does Revenue Slip Away?

The typical scenario involves a user opening a small crypto wallet, looking for an integrated swap function, and, not finding it, simply closing the app and making the transaction elsewhere. According to Yana Mar, this behavior results in a direct loss of revenue for smaller wallets, since transaction fees—the main source of monetization for these platforms—end up benefiting larger competitors or centralized exchanges.

This phenomenon is not isolated. In the crypto ecosystem, user experience is crucial for retention and revenue generation. Limited features drive away not only beginners but also more experienced users who seek speed and convenience in their daily operations.

Why Can’t Small Wallets Compete?

One of the main reasons is the lack of integration of swap and on-ramp features (direct purchase with fiat currency) in small wallets. While major players can negotiate robust partnerships and integrate complete solutions, smaller wallets face technical barriers, integration costs, and regulatory challenges.

Additionally, the absence of a consolidated user base makes it harder to access better trading rates with liquidity providers. The snowball effect intensifies: fewer features lead to fewer active users, which in turn further reduces revenue opportunities.

User Experience as a Competitive Edge

Yana Mar argues that the battle for revenue in the crypto wallet sector necessarily involves offering a seamless experience. This includes not only integrated swaps but also features like staking, portfolio tracking, and support for multiple blockchains.

For investors and developers, the message is clear: investing in usability and service integration is essential to retain users and ensure sustainable revenue streams. The fierce competition among wallets has driven innovation, but it also exposes the fragility of smaller projects in an increasingly demanding market.

Market Impacts and What to Expect Next

The rise of multichain wallets and DeFi solutions is pressuring small wallets to seek strategic partnerships or specialize in niches. For investors, the trend is to migrate to platforms that offer greater convenience, security, and a wider range of services, even if it means abandoning less complete options.

The debate over monetization and user experience will remain relevant as the market matures and new solutions emerge. Projects that fail to keep up with this evolution may quickly lose ground—and revenue.

Want to trade crypto with AI support? Check out Zayion AI, Bianchi Capital’s trading assistant.

With information from BeInCrypto Brazil. September 2026.

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Alexandre Bianchi

Fundador da Bianchi Capital e do Zayion AI. ~10 anos no mercado de ativos digitais, autor de referência e presença na mídia.

Autor de “O Manual do Criptoinvestidor”Presença na RedeTVPublicado no Terra+150 mil seguidores

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