Bitcoin decentralized finance (BTCFi) faces significant adoption barriers as 77% of BTC holders have never used these platforms according to GoMining's survey of 700+ users. Only 8% actively utilize BTCFi services despite 73% interest in yield opportunities.
The research exposes critical awareness gaps - 65% of Bitcoin investors cannot name a single BTCFi project. Industry leaders attribute this disconnect to excessive complexity and insufficient user education.
Mark Zalan, GoMining CEO, emphasizes the need for accessibility: "Bitcoin holders prefer simplicity over complex protocols. Successful platforms must prioritize user experience rather than technical features."
While 42% of respondents seek liquidity options without selling BTC, over 40% would allocate less than 20% of holdings to BTCFi products, highlighting trust and complexity concerns.
The survey suggests BTCFi's Ethereum-centric approach mismatches Bitcoin users' conservative preferences for regulated services and custodial solutions. However, the study acknowledges its limited sample size of 700 GoMining users.