A recent cryptocurrency survey reveals significant challenges in Bitcoin decentralized finance (BTCFi) adoption. According to research by GoMining involving over 700 respondents across North America and Europe, 77% of Bitcoin holders have never used BTCFi platforms.
Only 10% reported minimal experimentation with BTCFi services, while just 8% actively use these platforms for yield generation or lending. Despite 73% of respondents expressing interest in earning yield on their Bitcoin holdings and 42% seeking liquidity without selling, adoption remains low due to trust and complexity barriers.
GoMining CEO Mark Zalan noted the industry has primarily built products for crypto natives rather than everyday Bitcoin holders. The data shows over 40% of respondents would allocate less than 20% of their holdings to BTCFi products, highlighting the sector's trust deficit.