Security concerns remain the biggest obstacle to the mainstream adoption of cryptocurrency payments, as increasing incidents of hacks and phishing scams continue to damage the industry’s legitimacy.
More than 37% of investors identified security risks as the main barrier to using cryptocurrency for payments, according to a survey of 4,599 users conducted by Bitget Wallet as part of its latest Onchain Report shared with Cointelegraph.
Still, 46% of users said they prefer crypto payments over fiat for their speed and efficiency.
Source: Bitget Wallet Onchain Report
Bitget Wallet has implemented multi-layered protection mechanisms to make security a “top priority” and inspire more confidence in crypto payments, according to Alvin Kan, chief operating officer of Bitget Wallet:
“This includes MEV protection, which is now enabled by default across major chains like Ethereum, BNB Chain, and Solana, helping users avoid common risks like front-running and sandwich attacks. “
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