46% of Users Prefer Crypto Payments for Speed, But Security Concerns Hinder Adoption, According to Bitget Wallet Report
March 28, 2025 – San Salvador, El Salvador – Bitget Wallet, a prominent player in the realm of Web3 non-custodial wallets, has unveiled its latest Onchain Report, which offers fresh insights into consumer preferences regarding cryptocurrency as a payment method. The report highlights that 46% of surveyed users advocate for crypto payments due to their speed. However, 37% express concerns regarding security risks, which remains a significant barrier to broader adoption.
The global study, conducted among 4,599 users, explores how various demographics and regions perceive cryptocurrency in terms of its utility as a payment method. It reveals both the potential for growth in this sector and the notable challenges that need to be addressed to encourage mainstream usage.
Regional Insights
The report outlines distinct regional trends in the acceptance of cryptocurrency payments. Leading the charge are users from Africa (52%) and Southeast Asia (51%), where the demand for faster transaction speeds is spurred on by limited access to traditional banking services and high remittance costs. Conversely, in Latin America, which has embraced crypto for cross-border transactions, concerns over transaction fees (41%) are prevalent. North America and Oceania show a preference (36%) for seamless global transactions, while privacy concerns are significant in the Middle East (38%) and Western Europe (35%).
Despite the optimism surrounding crypto’s potential, the study indicates that limited merchant acceptance remains a crucial barrier, with 31% of respondents citing it as a reason for the slow adoption of crypto as an everyday payment method.
Generational Trends
The report also sheds light on generational differences in payment preferences. Among the generations surveyed, Gen X places the highest emphasis on speedy transactions (49%), while Millennials (42%) and Gen Z (39%) are drawn to the concept of borderless payments. Security apprehensions are predominantly voiced by Gen X respondents (42%), while Gen Z shows greater sensitivity to transaction fees (36%). Although younger users exhibit a higher willingness to incorporate cryptocurrency into daily financial activities, usability obstacles and inadequate financial infrastructure pose significant challenges.
Bitget Wallet’s Response
In response to the findings of the report and the broader challenges facing crypto adoption, Bitget Wallet has launched the PayFi initiative. This new service integrates various functions such as earning, sending, and spending into a cohesive onchain financial ecosystem within a single platform. Users can stake stablecoins across multiple blockchains to earn passive yields while retaining full control of their assets. Moreover, they can conduct crypto transactions and make purchases of everyday goods, services, and travel bookings directly through the Bitget Wallet.
"Crypto payments are evolving, but for mainstream adoption, security, cost-efficiency, and usability must improve," stated Alvin Kan, COO of Bitget Wallet. "With PayFi, we’re redefining how people interact with digital assets—ensuring every transaction not only enables payments but also contributes to financial growth. By integrating crypto more seamlessly into everyday life, we aim to make digital finance truly accessible to billions worldwide."
About Bitget Wallet
Bitget Wallet serves as a comprehensive Web3 ecosystem, offering users a wide range of services with over 60 million active users. The wallet’s capabilities include asset management, instant swaps, rewards, staking, trading tools, real-time market data, a DApp browser, and an NFT marketplace. Supporting more than 100 blockchains, 20,000+ decentralized applications, and over 500,000 tokens, Bitget Wallet facilitates seamless multi-chain trading across hundreds of decentralized exchanges (DEXs) and cross-chain bridges. The wallet also boasts a protection fund of over $300 million to ensure the safety of user assets.
For more information on Bitget Wallet and its offerings, visit their official blog.
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