Though bitcoin and other cryptocurrency assets increase the value in the end 2020, most people still do not use crypto money. They are reluctant to try cryptocurrency wallet to send money. There are also some reasons why crypto money is not widely use.
A survey by fio foundation resulted that 75 % cryptocurrency transaction was stressful and complicated.In total, FIO collected 231 responses, of which 217 actively held some amount of crypto throughout 2018. 55 % respondents said that they trouble in sending transaction, 18 % lost funds and 6 % got attacked.
Source :https://cointelegraph.com/news/crypto-transactions-must-be-easier-that-s-it-that-s-the-headline
pic : Requirement for crypto wallet
CRYPTOCURRENCY MASS ADOPTION
From the survey , crypto developers still need to work hard to make infrastructures that make cryptocurrency transaction as easy as possible with high level of security. Lost fund is scaring for all cryptocurrency holders. One who has experience of loosing fund from wallet may not be back to cryptocurrency world. Loosing fund in crypto can not be reclaimed. That is the big problem. It is different from using paypal or other bank wallet services. One who lost the fund can reclaim the fund from the thieves if the he has the proof of misuse of the wallet. Cryptocurrency wallet is decentralized wallet. One has full control over the wallet private key, fund and transaction. " Not your key, not your money" . That is a simple phrase but it is complicated for general people.
WHAT MASS EXPECT FROM CRYPTO
Let's think about common people with no cryptocurrency experience when the first time to use crypto wallet or make transaction. What most people need from cryptocurrency.
1. Easy and simple apps
Experience using digital wallet should be easy. Downloading gui wallet in PC is complicated. Synchronizing wallet to the network is not interesting at all for busy users. It takes time. It is just simple as this " Login, and see balance and send" .
2. Security
Many stories of locking and loosing fund in cryptocurrency. Such experience will make cryptocurrency like a nightmare for common people. How a person lost hundreds, thousands and millions asset from his wallet. That is very stupid experience. Like using paypal, loosing money from hacking or locking fund is reclaimable. That is what most people want from saving money in digital wallet.
3. Fast transaction
Bank services in digital wallet offer fast transaction. Though they are decentralized but to send money or make transaction no needs nodes to verify the transaction. I had experience sending ETH and failed many times. That was stressful. Fast transaction will be seen in the recipient wallet to purchase products.
4. User friendly front end
Using crypto wallet will be confusing and stressful at first. When I first use blockchain.info wallet, I should confirm login with my email address then open the wallet. That is not simple work. Friendly and easy interface is very important from cryptocurrency wallet. 2fa authentication is boring thing that users feel in using crypto wallet.
5. Long Paraphrase and pasword
That is very complicated to use long paraphrase and pasword. Pasword with 32 random numbers and letters is very complicated and stressful.
There are more reasons why more people still do not want to use cryptocurrency. Those are only five reasons that most people feel when using crypto wallet. Those may be subjective but using easy and friendly with high level of security make more people feel comfortable with crypto money.
