Survey reveals payment adoption challenges
A recent survey from crypto mining platform GoMining has uncovered some interesting patterns about how Bitcoin holders actually use their cryptocurrency. The survey, which gathered responses from over 5,700 Bitcoin owners, shows that more than half—55% to be exact—rarely or never use crypto for everyday transactions.
That’s a pretty significant number when you think about it. These are people who hold Bitcoin, who presumably believe in the technology and its potential, yet they’re not actually using it as money in their daily lives. The survey participants acknowledged they believe in crypto adoption and value the privacy aspects, but something’s holding them back.
Infrastructure gaps and practical concerns
The main reasons people gave are pretty straightforward, I think. Nearly half of respondents—49%—said most merchants simply don’t accept crypto payments. That’s a basic infrastructure problem. Mark Zalan, GoMining’s CEO, put it bluntly: “People don’t build a new habit if they have to hunt for places that accept it.”
Then there are the transaction issues. About 45% mentioned high fees as a barrier, while 27% pointed to slow processing times. Bitcoin’s proof-of-work system, while secure, can struggle with speed and cost during busy periods. Sometimes the fees end up being higher than what you’d pay with traditional payment methods, which kind of defeats the purpose.
Volatility and trust issues
Price volatility was another major concern, mentioned by 43% of respondents. Bitcoin’s value can swing dramatically, which makes it tricky to use for everyday purchases. If you buy coffee with Bitcoin today and its value doubles tomorrow, you might feel like you overpaid. This uncertainty has pushed many toward stablecoins for payments instead.
Zalan noted that transaction confirmations need to be fast and predictable. “That’s why stablecoin settlement and card-style systems are drawing so much attention,” he said. “They lower friction for merchants while keeping the flow familiar.”
Trust is another factor. About 36% of survey participants cited potential scams as a reason they avoid crypto payments. That’s not surprising given the number of crypto-related fraud stories in the news.
Rethinking Bitcoin’s role
Interestingly, Zalan doesn’t think forcing crypto for payments is the right approach. “Trying to force that is part of the market confusion,” he explained. He sees Bitcoin playing more of a settlement and reserve layer role, with faster systems built on top of it.
“Bitcoin can play a payment role, often as a settlement and reserve layer that allows faster rails above it,” Zalan added. “However, there are numerous other tokens that are better viewed as utility for networks, tools for governance, or even as risks, not as money.”
The survey suggests that while people believe in crypto’s potential, the practical barriers to everyday use remain significant. Infrastructure needs to improve, fees need to come down, and the user experience needs to become more predictable. Until then, it seems many Bitcoin holders will continue to treat their holdings more like digital gold than everyday cash.
