Trust issues: the barrier to mass crypto payment adoption

Volatility has undoubtedly influenced public behaviour. Although stablecoins have reduced some of the price fluctuations associated with cryptocurrencies such as Bitcoin and Ethereum, many consumers remain reluctant to spend assets whose value can change significantly over a short period. As a result, ownership and payment adoption have evolved along separate paths.

Perhaps the most significant reason for the gap between ownership and payment adoption is trust. Despite rising levels of crypto ownership – approximately 30 percent of American adults owned cryptocurrency in May 2026, according to Security.org, up slightly from 27 percent in 2024 – 75 percent of Americans still have little or no confidence that cryptocurrency exchanges can safeguard their funds. In the UK, the Financial Conduct Authority (FCA) has found that concerns over the lack of protection if something goes wrong remain a major reason many people avoid the market altogether.

These concerns are not confined to the UK and the US. Across many jurisdictions, consumers remain unconvinced that digital assets are adequately protected. Concerns relating to fraud, exchange failures and regulatory uncertainty continue to discourage broader participation. The industry’s greatest challenge is therefore no longer primarily one of innovation. It is a question of confidence.