A seismic shift in Japanese digital asset wallet preferences is underway, driven by an overwhelming demand for security. A Diamond Hands survey reveals 91% of Japan’s multi-chain wallet users are open to adopting bitcoin-only mobile wallets if superior security is proven.
This unprecedented openness, uncovered in the April 2025 study, exposes a massive untapped market for bitcoin-focused developers and highlights a stark divide between dedicated bitcoin holders (“Bitcoiners”) and diversified digital asset users in their mobile wallet choices.
Key Findings
- Wallet Divide: The survey exposed a stark contrast in primary wallet choices.
- Bitcoiners (dedicated BTC holders): 46% primarily use bitcoin-only wallets (e.g., BlueWallet, Blockstream Green, Nunchuk).
- Crypto Users (diversified holders): Over 50% primarily use multi-chain wallets (e.g., Phantom, OKX Wallet) for their bitcoin transactions, confirming their role as de facto bitcoin wallets for this group.
- Untapped Market & Awareness Gap: Awareness of bitcoin-only wallets remains low among the wider digital asset audience.
- While bitcoiners showed high familiarity with wallets like BlueWallet (72%) and Blockstream Green (56%), recognition dropped significantly among digital asset Users (40% and 33% respectively).
- In contrast, multi-chain wallets like Phantom (92%) and Trust Wallet (84%) enjoy near-universal recognition among Crypto Users.
- Security & Trust Reign Supreme: Across both user groups, the paramount factors influencing wallet choice were clear:
- Trust in the Wallet Company (78%)
- Security
- Privacy
- Ease of Use
- Notably, Japanese language support and influencer endorsements ranked as significantly less important.
- Openness to Bitcoin-Only Solutions: A major finding indicates a receptive market for bitcoin-only wallets beyond the core bitcoin community.
- 77% of multi-chain wallet users already utilize multiple wallets.
- 88% of multi-chain wallet users would consider using a bitcoin-only wallet alongside their current solution.
- Crucially, 91% expressed willingness to switch or add a new wallet if it offered significantly higher security.
- Usage Patterns: Bitcoiners demonstrated a higher tendency towards long-term holding strategies, with 30% reporting no mobile bitcoin wallet usage (suggesting reliance on hardware wallets). Only 15% of digital asset users reported no mobile bitcoin wallet use, indicating greater reliance on mobile solutions for active management.
- Lightning Network Landscape: Among users of Lightning Network wallets in Japan, the custodial Wallet of Satoshi dominates with 64% usage. Non-custodial options (e.g., Zeus, Phoenix, Aqua) collectively represent approximately 20% of the market, with Zeus showing notable community support.
Survey Methodology & Notes
The survey gathered responses from 322 individuals in Japan between April 16-22, 2025. Recruitment occurred primarily through Bitcoin-focused communities (Diamond Hands, bitcoiner Hanseikai), potentially introducing a pro-bitcoin bias. 
Participants were categorized as “bitcoiners” (majority holdings in BTC) or “Crypto Users” (diversified holdings, including BTC). The research specifically focused on non-custodial mobile wallets capable of on-chain Bitcoin transactions, differentiating them from Lightning-focused wallets.
Implications
The findings present a clear roadmap for bitcoin-focused companies in Japan:
- Address the Awareness Gap: Bitcoin-only wallets suffer from significantly lower recognition among the broader digital user base, highlighting a critical need for targeted education and visibility campaigns.
- Leverage the Security Demand: The overwhelming user emphasis on trust, security, and privacy, coupled with the high willingness (91%) of multi-chain users to adopt more secure bitcoin-only solutions, represents a massive market opportunity. Developers must prioritize and effectively communicate these features.
- Understand User Segments: Strategies must differ for bitcoiners (valuing simplicity, supporting bitcoin-focused companies) versus digital asset users (highly familiar with multi-chain solutions but open to secure alternatives).
About Diamond Hands:
Diamond Hands is a leading resource and community hub for bitcoin enthusiasts and businesses in Japan, dedicated to fostering education, adoption, and robust infrastructure development within the bitcoin ecosystem.
