Hacks and Phishing Threats: Crypto Payments Face Major Trust Issues
Since phishing scams and hacks continue to undermine the credibility of the cryptocurrency business, security concerns continue to be the largest barrier to the widespread adoption of cryptocurrency payments. As part of its most recent Onchain Report, Bitget Wallet surveyed 4,599 users and found that over 37% of investors cited security concerns as the primary deterrent to utilizing cryptocurrencies for payments. Nevertheless, due to their quickness and effectiveness, 46% of customers stated that they preferred cryptocurrency payments to fiat.
Bitget Wallet Enhances Security with MEV Protection and Smart Authorization Detection
Alvin Kan, Bitget Wallet’s chief operating officer, claims that the company has put in place multiple security measures to make security a top priority and encourage greater trust in cryptocurrency payments.
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. We also introduced smart authorization detection via our GetShield engine, which actively scans smart contracts, DApps, and URLs to flag malicious behavior before users sign anything,
Kan
A $300 million user protection fund supports Bitget Wallet‘s operations as an extra measure of security in the event that platform-level problems result in the loss of assets. According to Kan, Gen Z users place a higher value on usability and cost-effectiveness than Gen X users do on security.
High Remittance Fees Drive Crypto Adoption in Southeast Asia and Africa
According to Bitget Wallet’s survey, limited banking access and hefty remittance prices prompted 51% of respondents from Southeast Asia and 52% of respondents from Africa to express interest in cryptocurrency payments. Bitget Wallet provides streamlined onboarding with non-custodial wallets that do not require a typical bank account in order to assist the world’s unbanked regions, according to Kan.
With support for over 130 blockchains and stablecoins, users can easily send and receive value globally, using assets that maintain purchasing power. Local fiat on-ramps and multichain support ensure that users can tap into crypto without needing deep technical knowledge or centralized platforms,
Kan
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