According to Phantom co-Founder and CEO Brandon Millman, crypto wallets are now a bigger entry point for new users than centralized exchanges. Millman believes that the focus should be on retaining users rather than onboarding new ones, as good security is crucial for user retention.

However, the use of seed phrases as a security measure has been criticized by some panelists, who suggest that it can lock users out of their accounts. The evolution of account abstraction and its benefits, such as gasless payments, were also discussed, but panelists emphasized the need for crypto wallets to provide standard customer support systems.