The landscape of cryptocurrency payments is evolving rapidly, with stablecoins on the rise and fintech giants entering the space. However, despite this growth, crypto payments are still not widely used as a primary option. The 2025 State of Onchain UX report sheds light on the current state of crypto payments and the challenges that are hindering mainstream adoption.
According to the report, user experience is crucial in shaping how people interact with on-chain tools. The study, conducted by Reown in collaboration with Nansen AI, surveyed 1,038 active crypto users in the U.S. and U.K. The participants ranged in age, experience level, and usage patterns, providing a comprehensive view of the crypto landscape.
One key finding from the report is the prevalence of multi-wallet usage among crypto users. Over 62% of participants reported using two or more wallets, citing reasons such as access to different chains and security concerns. Trust Wallet, MetaMask, and Phantom were among the most popular wallets, with users gravitating towards familiar brands.
The report also highlighted the trend towards specialization among different blockchains. Ethereum remains a dominant player in decentralized finance, while Solana has emerged as a leading network for high-frequency trading. Base, a layer 2 network backed by Coinbase, is gaining traction as an innovation hub, with fee revenue rising significantly year-over-year.
Despite the broadening use cases for crypto, trading and speculation still dominate user engagement. Bitcoin remains the most widely held token, while stablecoins and memecoins have seen increased adoption. DeFi use is steady but limited in preference, with only 8% of users naming it as their top use case.
Security remains a critical concern for crypto users, with phishing attacks on the rise. While confidence in crypto products and services has improved, users feel that platforms need to do more to protect them from evolving security threats. Hardware wallets have seen renewed interest, particularly among experienced users, but social and mobile wallets remain popular despite higher risks.
Crypto payments continue to be a widely discussed use case, but adoption as a primary payment option remains low. High fees, poor user experience, and interoperability issues are key barriers to mainstream adoption. Despite the progress in infrastructure and the entry of big enterprises into the space, crypto payments still serve as a backup rather than a primary option in regions like the U.S. and U.K.
In conclusion, while the crypto payments landscape is evolving, there are still significant challenges that need to be addressed for mainstream adoption. To rival traditional finance, crypto payments must offer seamless user experience, consistency, and simplicity. As the industry continues to innovate and improve, the path to widespread adoption of crypto payments becomes clearer.