Crypto payments have the potential to change how we handle money, but not everyone is on board just yet. A recent study by Bitget Wallet, one of the top Web3 wallets, has uncovered some surprising insights. While 46% of users love the speed of crypto payments, a significant 37% say security concerns are holding them back.
The survey, conducted across 4,599 users globally, highlights some interesting regional differences in the way people view crypto. For example, in Africa (52%) and Southeast Asia (51%), people are eager for faster payment methods due to limited access to banks and high remittance costs. On the other hand, regions like Latin America (41%) are more concerned with transaction fees, as crypto is a popular choice for cross-border payments.
In North America and Oceania (36%), users value the ability to make smooth global transactions. Meanwhile, privacy is a major factor in the Middle East (38%) and Western Europe (35%). One common problem across all regions? Limited merchant acceptance — a big barrier to crypto becoming an everyday payment method for most people.
When it comes to generational differences, Gen X (49%) is more focused on speed, while Millennials (42%) and Gen Z (39%) prefer borderless transactions. Security is a bigger worry for Gen X (42%), while Gen Z (36%) is more concerned with high transaction fees.
Bitget Wallet is aiming to address these issues with its new PayFi initiative. This integrated system combines earning, sending, and spending into one seamless onchain ecosystem. Now, users can stake stablecoins across various blockchains, earn passive yield, and still have full control over their assets. Plus, they can make crypto payments for everyday goods, services, and even travel bookings — all within the Bitget Wallet platform.
Alvin Kan, COO of Bitget Wallet, says, “Crypto payments are evolving, but for widespread use, security, cost-efficiency, and usability need improvement.” By offering a more practical and accessible approach to digital assets, Bitget Wallet is working to make crypto a reliable financial tool for daily life, aiming to reach billions of people around the world.
With efforts like PayFi, the goal is clear: make crypto not just a speculative investment, but a real-world payment solution. The future of finance is fast, borderless, and secure — if the industry can fix these few hurdles.
For more information, check out Bitget Wallet’s blog.
