77% of Bitcoin holders have not tried BTCFin.

The Gap Between Bitcoin and BTCFi

According to a study, 77% of Bitcoin (BTC) holders have never tried Bitcoin financing (BTCFi) platforms. The survey conducted by GoMining included over 700 participants from North America and Europe. According to the survey results, only 10% of the participants have tried BTCFi once or twice, while 8% actively use BTCFi services.

This situation shows a significant gap between the opportunities offered by the Bitcoin financing sector and actual user participation. Mark Zalan, CEO of GoMining, stated, “There is a great deal of interest in these opportunities, but the industry has developed its products for crypto enthusiasts, not for ordinary Bitcoin holders.”

Trust Issues and Conscious Insufficiency

The survey data reveal that 73% of participants wish to leverage their BTC assets through lending or staking, while 42% wish to access liquidity without selling. However, there is an air of uncertainty among users. More than 40% of them indicated that they are unwilling to allocate more than 20% of their assets to BTCFi products. This situation highlights trust and complexity issues within the sector.

One of the most striking findings is the lack of awareness in the sector. GoMining found that 65% of Bitcoin holders could not name a single BTCFi project. It seems that the BTCFi platforms, which have millions of dollars invested, appeal more to their internal dynamics.

Opportunities for the Future of BTCFi

The report suggests that the adoption problem of BTCFi may stem from its dependence on the DeFi model of Ethereum. Bitcoin users are emphasized as taking a more conservative approach; these users prefer custodial services and regulated ETFs over custodial experiences and complex protocols.

Zalan pointed out, “Bitcoin holders are not Ether users,” emphasizing that BTCFi platforms need to adopt an approach that prioritizes accessibility. BTCFi platforms that focus on education and user experience over complex features may be able to capture this market.

This survey presents both a warning and an opportunity for the sector. Millions of Bitcoin holders want the returns and liquidity promised by BTCFi, but they need reliable and understandable products. It should be noted that the survey was conducted with a “random selection” of 700 GoMining users. GoMining is a digital BTC mining platform that connects real-world mining operations through NFTs; therefore, the extent to which the results represent typical Bitcoin users is important. A GoMining spokesperson stated, “Our user base represents the Bitcoin holder universe quite well.”