1 in 5 Lose Assets! The Hidden Trap in Cryptocurrency 'Smartphone Model Changes'

Clabo Inc. (Headquarters: Minato-ku, Tokyo, CEO: Ikuma Ueno) conducted a 'Fact-Finding Survey on Wallet Troubles During Smartphone Model Changes' targeting 746 individuals with cryptocurrency investment experience.

The survey results revealed a serious reality: 54.1% of cryptocurrency investors have experienced some form of trouble when changing smartphone models, and among them, 20.1% (1 in 5 people) have actually lost their assets.

In particular, the trouble experience rate among people in their 20s stands out at 73.7%. Furthermore, the current situation highlights that the risks caused by neglecting to check backups become more pronounced among the 'demographic starting to get used to operations' whose investment history approaches 3 to 5 years.

This report explains in detail the risk structures that vary by age group and investment history, as well as the reality that 14.2% of cases involve losing access rights by completely forgetting the existence of the wallet itself and initializing the device during a model change.

We will present specific management techniques and lessons on how to overcome the inevitable wall of 'device migration' when self-managing digital assets and protect important assets to the end.

Check the full version of the survey results

■ Survey Details

54.1% experienced trouble changing models

Survey of 746 crypto investors: Why do model change troubles occur? Trends by generation | Clabo Inc.

Over 50% face challenges in migration

For cryptocurrency investors, changing smartphone models is a time that requires caution.

Unlike apps and environment settings used on a daily basis, migrating a wallet requires complex procedures and security knowledge.

When we calculated the percentage of those who experienced wallet-related troubles during a model change in our internal survey, a result of 54.1%, which exceeds half, was brought to light.

This number vividly illustrates the reality that more than half of users feel some kind of barrier in migrating their wallets, which is the cornerstone of asset management.

It can be said that a situation that cannot be dismissed merely as 'operational difficulty' is befalling many investors.

The severity of leading to asset loss

When the breakdown of the troubles is analyzed in detail, the severity becomes even clearer.

Surprisingly, there were as many as 20.1% of investors who actually lost their assets due to troubles during the migration process.

The fact that 1 in 5 people have suffered a fatal blow reaffirms the weight of self-responsibility and the magnitude of risk in cryptocurrency management.

On the other hand, 19.8% responded that they were able to resolve the issue successfully despite being troubled.

There must be many cases that could have been prevented with proper access to information and a backup system.

The boundary between losing assets or avoiding trouble is thought to lie in the status of advance preparation.

Unexpected risk of memory lapse

What needs even more attention is not just operational errors or setting troubles.

During the model change process, 14.2% of cases were confirmed where users forgot the existence of the wallet altogether and initialized their devices.

The so-called 'lapse from memory' means that no matter how strongly secured a wallet you use, it is useless if the user themselves does not recognize it.

The management responsibility in cryptocurrency investment extends not only to technical requirements but also to such 'physical management awareness'.

When getting a new device, whether one can immediately recall backing up the wallet will be the first step in protecting one's assets.

Trouble risks differing by age group — The gap between young and middle-aged demographics

Survey of 746 crypto investors: Why do model change troubles occur? Trends by generation | Clabo Inc.

Rising migration walls among the younger demographic

When analyzing the experience rate of wallet troubles during model changes by age group, a particularly prominent trend emerges among the younger demographic.

As many as 73.7% of investors in their 20s have encountered some form of trouble, showing that even for the digital native generation, wallet migration work is by no means easy.

The highness of this number indicates that there is a large gap between being proficient in operating a smartphone and the advanced management skills required for cryptocurrency.

It is possible that precisely because the younger generation prioritizes convenience and masters multiple apps, the number of wallets they manage increases, thereby increasing the complexity during migration.

60% in their 30s, middle-aged demographics also remain at high levels

Recording figures of 59.3% for those in their 30s in their prime working years, and 47.3% for those in their 40s, a situation emerges where the middle-aged demographic is by no means immune.

For this generation, who are extremely busy with work and family, migrating a wallet during a model change is considered a task with a heavy time and mental bur