55% of Bitcoin Holders Never Use Crypto for Payments

Generally, people dont spend their Bitcoin everyday, i found this out from a survey by GoMining. Obviously, the survey had over 5,700 participants and 55% of them said they rarely or never use crypto for buying stuff. Sometimes, folks believe crypto gives them privacy, but they still avoid using it for everyday purchases, which is kinda weird.

Key Findings from the Survey

Normally, the biggest issue is that not enough merchants accept crypto, this is what 49% of respondents said. Usually, Mark Zalan, the CEO of GoMining, tells me people wont change their habits if they cant find a store that takes Bitcoin, which makes sense. Apparently, he said “Why change your behavior if you cant use it where you normally shop?” and i think he has a point.

Infrastructure Gaps Hold Back Adoption

Basically, fees are also a big problem, 44.7% of people pointed out high transaction costs, which is alot. Often, slow confirmations are another issue, 26.8% of people complained about this, and its true that Bitcoin’s proof‑of‑work system cant keep up, making it pricier and slower than credit cards. Probably, this is why people prefer other payment methods.

Volatility and Security Concerns

Usually, price swings are a big turn‑off, 43% of those surveyed said the volatility makes them avoid crypto for daily spend. Naturally, they prefer stablecoins pegged to the dollar because the value stays steady, which is understandable. Sometimes, Zalan notes that stablecoins and card‑linked crypto wallets are gaining ground, reducing friction for merchants, and this is a good thing.

Is Crypto Meant for Payments?

Apparently, when i asked Zalan if crypto should be used more for payments, he gave a balanced answer, which was nice. Generally, he thinks forcing Bitcoin into a payment role just confuses the market, and i think he might be right. Normally, he sees Bitcoin as a settlement and reserve layer, while faster payment systems sit on top, which makes sense.

The Future of Crypto Payments

Obviously, looking ahead, the survey points to growth opportunities, which is exciting. Usually, if merchants adopt crypto more, fees come down, and speeds improve, everyday use could finally happen, and this would be a big deal. Sometimes, stablecoins and new payment solutions could bridge the gap between traditional finance and crypto, and this is something to look forward to.