Survey Finds 77% of Bitcoin Holders Haven’t Engaged with BTCFi
Bitcoin DeFi (BTCFi) is seen as a significant innovation for Bitcoin, yet most holders are not engaging with it. A survey by GoMining reveals:
- 77% of Bitcoin holders have never used a BTCFi platform.
- Only 8% actively use BTCFi services.
- 73% showed interest in earning yield through lending or staking.
- 42% want liquidity without selling their holdings.
Despite the potential demand, there is a lack of awareness and trust:
- 65% couldn't name any BTCFi projects.
- 40% would allocate less than 20% of their holdings to BTCFi due to complexity concerns.
The gap may be due to BTCFi's reliance on Ethereum’s DeFi model, which may not appeal to more conservative Bitcoin users who prefer simplicity and custodial services.
GoMining suggests that to succeed, BTCFi platforms should focus on accessibility and user education rather than complex features.
Note: The survey involved a random selection of 700 GoMining users, which may not fully represent all Bitcoin holders.