Limited real-life adoption of cryptocurrency

As cryptocurrency becomes more mainstream, it is considered as an alternative payment method when conducting international trades. Several challenges still in play could keep cryptocurrencies in the realm of payment theory rather than practice for a few more years, however, including enabling seamless acceptance among merchants.

A huge issue that crypto users faced is the ability to use their crypto to buy tangible products like phones or shoes. Processing cryptocurrency payments is still a foreign concept to many online merchants and consumers due to the fact that the technology is still new. Major e-commerce platforms do not accept crypto as a form of payment. A lot of crypto projects struggle to find real-life usages for their native tokens, discouraging their token holders and negatively affecting their token liquidity and price. These issues make many people question the real-world usability of crypto and thus cause many to opt out of investing and purchasing cryptocurrencies.

Generally, the overall perception of cryptocurrencies among both consumers and businesses appears to be shifting from an asset class (similar to gold or bonds) to that of spendable currency, but cryptocurrencies still are years away from becoming established as a part of the mainstream payments ecosystem.