Cryptocurrency has certainly come a long way since the launch of the largest crypto; Bitcoin way back in 2009. However, it needs to be recognised that only 4% of the world’s population holds Bitcoin and just under 7% own some form of crypto at all.
If we compare this with the adoption of credit cards and debit cards, 24% of the world’s population holds at least one credit card with 50% of adults worldwide owning a debit card.
All this points to crypto still being in the very early stages of user adoption.
With the huge gains some crypto has made recently, why is crypto still not gaining mass adoption?
In this article, we look at just that. Here goes…
1. Volatility and Trust
Unfortunately, those within the crypto industry often look to make quick gains leading to extreme volatility as they buy and quickly sell to take profits.
The average consumer simply cannot stomach the dramatic swings with price drops of 60%-90% not uncommon.
The advent of Meme Coins or assets that typically have no intrinsic value gaining huge popularity has done little to help the volatility image problem.
Many of these types of coins, often based on a graphical cartoon character or an internet influencer can raise billions of dollars overnight, only to sell off and cost users their life savings within hours or days of launch.
Until crypto can mature and develop into supporting projects that give back some value to the consumer, the crypto industry is unlikely to solve the volatility image problem.
2. Security
Blockchain technology is known for its security and robustness however the very nature of the technology attracts technical bad actors who wish to manipulate the system.
Established crypto exchanges have been hacked for billions of dollars. In early 2025 crypto exchange Bybit was hacked for $1.5 billion.
Frauds and scams are also prevalent with FTX founder, Sam Bankman Fried sentenced and jailed for 25 years for fraud and users losing millions in the Voyager exchange collapse.
Add to this the dangers of phishing attacks or simply sending your crypto to the wrong address. Many average consumers may simply view the industry as too risky to deal with.
Until the crypto industry can have systems in place to weed out bad actors and to protect consumers from scams and hacks the security image problem is likely to persist as far as the average consumer is concerned.
Read our article on the Sam Bankman-Fried Fiasco here:
3. Complexity
The average user is not technically minded and crypto is just not user-friendly enough.
The need to manage twelve or twenty-four-word seed phrases, set up wallets, transfer crypto using long addresses and navigate the fees associated with transactions can be overwhelming for the average consumer.
Users who are used to just registering and logging in to their online banking are reluctant to go through the numerous steps required to get started in crypto.
Although some developments have been made to simplify crypto, there is still a long way to go. Until then, the average consumer is still intimidated by the technology.
4. Lack of Clear Use Cases for Average Consumers
While those in the crypto industry promise revolutionary change, many average consumers simply cannot see the clear everyday need for them.
Blockchain founders often focus on the technical aspects of their projects and sometimes forget to prioritise a real-world use case that can attract real average users.
Many consumers are happy with their banking apps, Stripe, Paypal or Venmo and don’t yet require a volatile blockchain solution to transact.
Until crypto can find a use case outside of speculative investing the average consumer will find it hard to move from what they know and understand.
5. Regulatory Uncertainty
One of the biggest issues for the crypto industry is regulatory uncertainty. Different countries will have different approaches.
Some have embraced the technology, like El-Salvador, while others restrict or outright ban it.
Recently, in early 2025 President Donald Trump announced a U.S. Strategic Cryptocurrency Reserve, set to include Bitcoin and other cryptos including Ethereum and Cardano.
The reaction worldwide has so far been mixed and it is yet to be seen if this latest regulatory move will lead to greater adoption worldwide.
Until there is clear and consistent regulation the average consumer and everyday businesses may simply view the crypto landscape as too risky to navigate and participate in.
Read our article on President Trump’s U.S. Strategic Crytpo Reserve here:
6. Environmental Concerns
Some cryptos use proof-of-work as a mechanism to secure their transactions. What this means essentially is powerful power-hungry computers are needed to crunch the numbers to secure the blockchain network.
Operators of these computers often called ‘miners’ are rewarded in crypto for their efforts.
This has led to some viewing crypto as environmentally unfriendly due to its huge power requirements. Bitcoin mining in particular has been in the headlines for using more power than entire nation states.
Newer technologies such as Cardano and Ethereum utilise a proof-of-stake mechanism which is viewed as more energy efficient as it relies on the amount of crypto (the stake) held by miners rather than on the processing power of their servers.
Overcoming this reputation and promoting greener alternatives will be key to attracting a broader base of users.
Final Thoughts
Crypto offers great opportunities for the average consumer and entrepreneurs alike. Imagine a world where you can raise capital for a business, and get a loan without a middleman avoiding large fees or onerous interest rates.
Imagine a world where users can get interest on all their holdings at rates exceeding traditional banking.
Imagine a world where the value of your money increases over time rather than eroded by inflationary government policies.
Crypto offers all of this and much more but until the industry can mature and protect the average consumer from the inherent greed, scams and regulatory uncertainty, it will be difficult for the average consumer to trust the innovation of blockchain technology.
Mass adoption will only occur when there is a clear use case for the average consumer where ease of use is at the centre of the development process.
Until then, crypto will remain a speculative asset where early adopters could make significant gains should the aforementioned problems be solved.
Good luck!
***Disclaimer: This article is not financial advice and is given for informational purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.
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***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.
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