A new survey from Bitcoin mining company GoMining reveals that the vast majority of Bitcoin investors remain disconnected from the growing Bitcoin DeFi (BTCFi) sector. Despite increasing media coverage and venture capital investment, most holders are yet to explore yield, lending, or staking platforms built around Bitcoin.

The survey, which gathered responses from more than 700 participants across North America and Europe, found that 77% of Bitcoin holders have never interacted with BTCFi platforms. About 10% said they had only tried them once or twice, while just 8% identified as active users who regularly engage with lending or yield protocols.

These results underscore a clear gap between Bitcoin ownership and participation in decentralized financial products. While DeFi on Ethereum and other blockchains has grown rapidly in recent years, the Bitcoin community appears slower to embrace similar opportunities.

Accessibility Remains the Biggest Hurdle

GoMining CEO Mark Zalan said the findings highlight a fundamental accessibility issue. “There’s an enormous appetite for these opportunities, but the industry has built products for crypto natives, not for everyday Bitcoin holders,” Zalan explained.

For many users, complex interfaces, self-custody requirements, and on-chain interactions make BTCFi difficult to navigate. Unlike Ethereum DeFi, which has matured with tools like MetaMask and user-friendly dApps, Bitcoin’s financial layer is still early and often confusing for mainstream investors.

Zalan believes the lack of education and intuitive design has held the sector back. According to him, platforms that prioritize simplicity, trust, and regulated options—similar to Bitcoin ETFs—will ultimately succeed in bringing DeFi to Bitcoin holders.

Interest in Bitcoin DeFi Still Strong

Despite low adoption rates, the survey revealed strong underlying interest. Around 73% of respondents said they would like to earn yield on their Bitcoin through lending or staking products in the future. Another 42% expressed interest in liquidity options that would allow them to access funds without selling their BTC.

However, skepticism persists. More than 40% of participants said they would allocate less than 20% of their holdings to BTCFi products, pointing to concerns about security, complexity, and counterparty risks. These responses reflect an audience that is curious about the potential but still cautious about putting their Bitcoin into decentralized protocols.

Awareness Levels Are Alarmingly Low

Perhaps the most telling part of the survey was the lack of awareness. A striking 65% of respondents could not name a single BTCFi project.

This disconnect underscores just how far Bitcoin-based DeFi must go before it becomes mainstream. Unlike Ethereum’s ecosystem, which has household names like Uniswap, Aave, and Compound, Bitcoin’s DeFi projects remain largely unknown outside niche crypto communities.

GoMining’s report points to a key misalignment: BTCFi has tried to replicate Ethereum’s DeFi model, which relies heavily on complex wallets, on-chain activity, and constant user engagement. For the average Bitcoin investor—many of whom first entered crypto through mining platforms, ETFs, or custodial services—this model feels inaccessible.

“Bitcoin holders aren’t Ethereum users,” Zalan said. “Platforms that focus on simplicity, education, and trust—much like Bitcoin ETFs—are the ones that will eventually win this market.”

What the Sample Represents

While GoMining acknowledged that the survey size was relatively small, the company said it reflects meaningful insights into everyday Bitcoin users. According to the firm, over 80% of its customers open their first crypto wallet through its mining platform, making the responses representative of a mainstream demographic rather than a niche group of DeFi enthusiasts.

This makes the findings particularly important for developers and investors in the BTCFi space. If the majority of Bitcoin owners are either unaware or reluctant to use decentralized products, the industry must rethink how it introduces new services to the market.

The Road Ahead for Bitcoin DeFi

The survey suggests that Bitcoin DeFi has strong potential but significant barriers to overcome before mass adoption can happen. Trust, ease of use, and awareness remain the most critical challenges.

If platforms can deliver user-friendly solutions that mimic the simplicity of traditional finance products—such as ETFs, custodial accounts, and regulated offerings—BTCFi could see a surge in participation. On the other hand, if complexity remains the norm, most Bitcoin holders may continue to sit on the sidelines.

For now, the disconnect between ownership and engagement highlights the need for education and innovation. While Bitcoin itself is increasingly seen as a store of value and inflation hedge, its financial layer still has much to prove before it can rival Ethereum’s DeFi ecosystem.

As Zalan concluded, the winners in this emerging market will be those who bridge the gap between crypto natives and everyday investors. “Simplicity and trust are what Bitcoin holders demand,” he said. “The projects that deliver those values will define the future of BTCFi.”