25-3-2025 – Fresh research from Bitget Wallet has unveiled significant hurdles impeding the mainstream acceptance of cryptocurrency payments, with security concerns emerging as the paramount obstacle across generations.
The comprehensive survey, conducted in early 2025, gathered insights from nearly 4,600 members of the Bitget Wallet community, painting a revealing picture of user apprehension. Generation X respondents displayed the highest level of security concerns, with 42% expressing fears about potential cyber threats, whilst Millennials and Generation Z followed closely at 38% and 35% respectively.
Market volatility and peak-period transaction costs share equal standing as the second most significant deterrents, each cited by 35% of participants. These challenges are closely followed by concerns over transaction errors, affecting 34% of users, whilst merchant adoption limitations trouble 31% of respondents.
The cryptocurrency landscape’s historical vulnerabilities cast a long shadow over current adoption rates. The notorious Mt. Gox incident of 2014, which saw the disappearance of 850,000 Bitcoins from what was then the dominant exchange platform, continues to influence contemporary risk perceptions. More recent events, such as the momentous Poly Network breach of 2021 involving assets exceeding $600 million, serve as stark reminders of the sector’s ongoing security challenges.
Technical and practical barriers further compound these concerns, with 28% of users citing lengthy transaction confirmation times as problematic. The absence of robust legal frameworks troubles 27% of respondents, whilst a quarter of users report difficulties in troubleshooting technical issues.
The study additionally highlights user experience challenges, with 24% of participants finding interface designs unwelcoming, and 23% expressing reservations about the trustworthiness of available payment services. This comprehensive examination of adoption barriers suggests that enhanced security measures and user protection frameworks may be crucial for fostering wider cryptocurrency acceptance.
