A global survey conducted by Bitget Wallet, with 4,599 participants, revealed that more than one-third of users cite security vulnerabilities, such as hacks and phishing scams, as the primary reasons preventing them from using cryptocurrency for everyday transactions.

The survey findings emphasize that while the appeal of cryptocurrencies in global payments continues to grow, particularly in regions with limited access to traditional banking services, trust issues and fears over digital asset security persist. These concerns hinder wider adoption of blockchain-based payment systems, despite their benefits, including faster transaction speeds and lower costs compared to conventional methods.

Security Concerns in the Crypto Space

The report underscores that security remains a crucial concern as blockchain-based payment methods gain traction worldwide. Increasingly sophisticated cyberattacks, including hacks targeting users’ wallets and on-chain activities, exacerbate these fears. As the crypto ecosystem grows, so do the threats, highlighting the urgent need for advanced protective tools.

Bitget Wallet, a major player in the digital wallet space, has made significant strides in addressing these concerns. The platform has adopted several multi-layered security features to safeguard users’ assets. One notable feature is Maximal Extractable Value (MEV) protection, which is now available by default across prominent networks like Ethereum, BNB Chain, and Solana. MEV protection prevents manipulative trading practices, such as front-running and sandwich attacks, by ensuring that transactions are executed fairly.

Additionally, the platform utilizes the proprietary GetShield engine, which scans decentralized apps, smart contracts, and links for signs of malicious behavior before users can unknowingly authorize harmful transactions. This proactive approach aims to protect users from inadvertently falling victim to scams and fraudulent activities within the decentralized finance (DeFi) space.

Generational Differences in Adoption

Bitget Wallet’s chief operating officer, Alvin Kan, highlighted that generational differences play a significant role in how users approach crypto payments. For example, Generation X (those born between 1965 and 1980) tends to prioritize wallet security, while younger users, particularly Generation Z (born between 1997 and 2012), are more concerned with ease of use and low transaction fees. This generational divide suggests that while older users might demand more robust security measures, younger users are more likely to adopt crypto payments if they find them convenient and cost-effective.

Regional Demand for Crypto Payments

Despite security concerns, interest in cryptocurrency payments remains strong, especially in emerging markets. According to the survey, 52% of African respondents expressed interest in using digital assets for transactions, while 51% of Southeast Asian participants shared similar sentiments. In these regions, limited access to traditional banking and high remittance fees are key drivers for the growing demand for cryptocurrencies. As a result, people in these areas are increasingly turning to digital assets as an alternative form of payment.

Bitget Wallet’s non-custodial wallet solution, which supports over 130 blockchains and stablecoins, allows users to send and receive digital payments across borders with stable purchasing power. This feature has been particularly beneficial in regions like Southeast Asia and Africa, where cryptocurrency adoption is growing due to the need for accessible financial solutions.

Conclusion

While security remains a critical challenge for the global adoption of cryptocurrency payments, developments in protective technologies and increasing demand in emerging markets suggest that the digital asset space will continue to expand. By addressing security concerns and improving user accessibility, platforms like Bitget Wallet are helping bridge the gap between crypto adoption and traditional financial systems. As these efforts evolve, the future of crypto payments looks increasingly promising, especially in underserved regions.