Barriers hindering widespread crypto payment adoption: Insights from the 2025 Onchain User Experience report.
Peer-to-Peer Payments and the Future of Crypto
Crypto is on the rise, but why isn't sending money as easy as swiping a card? The 2025 State of Onchain UX report sheds light on what keeps peer-to-peer crypto transactions from becoming mainstream.
Navigating the Crypto World
As crypto moves further into everyday life, the user experience matters just as much as the tools themselves. Reown, in partnership with Nansen AI, published the 2025 State of Onchain UX report, using survey data from 1,038 active crypto users in the U.S. and U.K., to gain insights into the current landscape.
Mixing Things Up
For most crypto users, wallets are the primary point of contact with the blockchain world. According to the report, the number of wallet adoptions has been increasing, with 62% of participants relying on two or more wallets - a jump from 2024. This is due to the need for access to different blockchains and security concerns.
The Popular Wallets
Mobile wallets remain the most preferred choice, with over half of users choosing this as their primary interface. However, this preference has seen a slight decline compared to last year. Hardware wallets, while still limited in popularity, have garnered some momentum, particularly among experienced and security-focused users.
Chains of Choice
Once upon a time, blockchains aimed to be the end-all, be-all. That's no longer the case. Today, specialization has become the norm, and users are choosing networks based on their specific needs. Ethereum reigns as the primary settlement layer, processing the largest transaction volumes and hosting a wide array of applications. Solana, meanwhile, has positioned itself as the go-to network for high-frequency activity due to its speed and low transaction costs.
Friend or Foe
Security concerns persist, despite rising confidence among users. Phishing attacks have surged, with 21% of users reporting being affected in 2025. This suggests that while crypto tools may be improving, security threats are evolving at an alarming pace. Many users approve transactions without fully understanding the risks involved. Blind signing remains a concerning issue, even as measures like Clear Signing are introduced to make transactions more transparent.
The Crypto Payments Paradox
Payments remain one of the most discussed use cases in crypto, but actual behavior doesn't always reflect enthusiasm. While 54% of users have made payments using crypto, only 12% have listed it as their favorite on-chain activity. Stablecoins are on the rise, with almost double the adoption rate compared to the previous year. However, for crypto payments to become commonplace, they need to match the convenience that traditional fintech experiences offer.
A Pathway to Mainstream Adoption
Progress is visible but friction remains high. For crypto payments to challenge traditional finance, it must be convenient, fast, and simple - matching the expectations users already have from their experiences with other payment systems. The future of cryptocurrency lies in bridging the gap between novelty and effortless accessibility.
- Among the active crypto users, a significant number of respondents reportedly utilize Bitcoin for transactions, indicating its continued relevance in the digital currency landscape.
- The concept of staking has gained traction among crypto users, with many opting to earn rewards by locking up their tokens, thus contributing to the decentralization of blockchain networks.
- In the realm of initial coin offerings (ICO), there's been a noticeable shift towards greater regulation and transparency, as investors become more discerning and wary of speculative ventures.
- Tron and Solana are among the blockchain platforms that have witnessed a surge in popularity, attracting developers and users with their fast transaction speeds and low fees, making them viable alternatives to Ethereum in certain use cases.
- Mining cryptocurrencies, while once a lucrative hobby, has increasingly become a profession for a select few due to the high costs of specialized hardware and electricity.
- Aside from the ubiquitous Bitcoin and Ethereum, platforms like Coinbase and Binance have emerged as central players in the crypto exchange sector, offering users access to a diverse array of digital tokens.
- Decentralized Finance (DeFi) has expanded beyond simple lending and borrowing, with utility tokens providing governance rights and incentives to users who participate in various protocols on the blockchain.
- Non-Fungible Tokens (NFTs) have captured the attention of the art world and collectors, and their value extends beyond the digital realm as they represent ownership of unique items or experiences.
- Metamask and other similar wallets have become essential tools for interacting with decentralized exchanges (DEX) and other on-chain utilities, ensuring users maintain control over their assets and private keys.
- The average crypto user remains wary of the speculative nature of digital assets, with many preferring stablecoins for their inherent stability and reduced volatility compared to traditionally volatile cryptocurrencies.
- The report further highlights that the technology underpinning cryptocurrencies, such as blockchain and smart contracts, holds immense potential for a myriad of use cases, provided it can overcome the barriers to mainstream adoption and deliver user experiences on par with traditional finance.
