💰Bitcoin as an asset in itself: why 55% of crypto holders never use it for real-world payments

💰Bitcoin as an asset in itself: why 55% of crypto holders never use it for real-world payments

A survey conducted by the cryptocurrency mining platform GoMining, based on a sample of 5,700 Bitcoin holders, shows that a majority of users do not use Bitcoin for everyday, real-world payments.

➡️ The most frequently cited obstacle is the lack of merchant infrastructure. Nearly half of respondents (49%, or 2,663 participants) said that most businesses are not equipped to accept cryptocurrency payments in routine transactions.

➡️ Transaction-related frictions were also highlighted. 44.7% of respondents (2,400 participants) pointed to high transaction fees, while 26.8% (1,440 participants) cited long processing times. These issues are particularly associated with blockchain networks that rely on the Proof-of-Work (PoW) consensus mechanism, which tends to face scalability constraints and higher per-transaction costs.

➡️ Price volatility remains another critical deterrent. 43% of participants (2,330 respondents) said they avoid using Bitcoin and other cryptocurrencies for daily payments due to unpredictable price fluctuations, leading many to prefer stablecoins for transactional use.

➡️ In addition, 36.2% of respondents (1,942 participants) reported that concerns over potential fraud and scam schemes discourage them from paying with Bitcoin.

⚠️ Overall, experts argue that cryptocurrencies are not intended for everyday purchases. Bitcoin, in particular, functions primarily as a settlement and reserve-layer instrument, enabling the development of faster payment channels built on top of its network. From this perspective, Bitcoin is better understood as a network resource rather than a conventional means of payment.

#news #worldwide #crypto #fundamentals

🏦 Payouter.com — reliable payment partner in the CIS and 🇮🇳India: Intent, UPI P2C conversion 54% on FTD