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If Crypto Is the Future of Money, Why Can’t We Use It?

Published
Alexander Guseff
Published
By Alexander Guseff
Edited by Samantha Dunn

Key Takeaways

  • While popular as an investment, cryptocurrency remains impractical for daily transactions due to high fees, slow speeds, and complex user experiences.
  • Scalability, accessibility, and user-friendliness must be addressed for crypto to move beyond speculation and become a true financial tool.
  • The industry must prioritize real-world usability, making crypto as seamless and intuitive as traditional payment methods.

Cryptocurrency has made headlines for over a decade, hailed as the future of money and a force for financial freedom.

Yes, markets have soared, and Bitcoin is now a household name, but let’s be honest – how many people can or even want to use it to buy their morning coffee?

The truth is that cryptocurrency remains stuck in a paradox: wildly popular as an investment but woefully impractical for everyday use.

Until we address its core barriers – scalability, accessibility, and user experience – crypto risks becoming a speculative playground for the few rather than a transformative technology for the many.

Bitcoin’s Usability Crisis

Let’s start with a hard truth: most cryptocurrencies are not usable.

Bitcoin may be the most secure network in the world, but with transaction fees that can skyrocket  during peak demand and confirmation times measured in minutes (if not hours), it’s simply not practical for daily transactions.

If you can’t use it to pay for a cup of coffee without overpaying in fees or waiting ages for confirmation, what’s the point?

This disconnect was further highlighted in December 2024, when Bitcoin’s price surpassed $100,000  for the first time. The surge, fueled by optimism over a pro-crypto U.S. administration, underscored the asset’s strength as an investment vehicle.

Yet the milestone also highlighted its limitations: Bitcoin’s usability as a daily currency remained as out of reach as ever, even as its value soared.

Other blockchains like Ethereum aren’t much better. While they offer increased functionality, the infamous gas fees are a deterrent to all but the most dedicated users.

The average person doesn’t care about complex dApps; they just want something that works as seamlessly as their banking app or credit card.

The Elephant in the Room

Cryptocurrency evangelists often boast about the technology’s potential to revolutionize payments and banking. But here’s the uncomfortable reality: crypto has been stuck on this potential for years. Why? Because it has failed to overcome three critical barriers:

Scalability

It’s astonishing that some of the most popular blockchains can handle fewer transactions per second (TPS) than a single supermarket checkout counter.

While traditional systems like Visa process thousands of TPS, Bitcoin struggles with single digits. This isn’t a minor inconvenience; it’s a fundamental flaw that limits real-world usability.

Accessibility

Have you ever tried explaining a private key or seed phrase to someone unfamiliar with crypto? For most people, managing a crypto wallet is intimidating and confusing.

Losing access to your funds because of a misplaced key is unacceptable in a world where convenience reigns supreme.

User-Friendliness

Many crypto platforms are designed by and for technologists. The average user doesn’t want to navigate through complicated interfaces or worry about things like gas fees. They just want to send and receive money easily, quickly, and securely.

Key to Unlocking Mass Adoption

The solution lies in rethinking our approach to cryptocurrency. It’s time to move beyond the obsession with price speculation and focus on building technology that people can actually use.

Scalability must be a top priority. We need blockchain networks capable of processing millions of transactions per second with minimal costs. Solutions like L2s offer promise, but they need to be user-ready, not just ideas floating in whitepapers.

Accessibility also demands innovation. Imagine payment systems that eliminate the need for wallets entirely, allowing users to transfer funds as easily as handing over a physical banknote.

By simplifying the experience, cryptocurrency can reach people who have previously been excluded.

Finally, design matters. A seamless user experience is a necessity. Think about the success of apps like Venmo or PayPal. They succeeded because they removed friction from transactions, and cryptocurrency needs to follow suit.

Why This Matters

For all its flaws, cryptocurrency still has the potential to reshape global finance. In regions where traditional banking infrastructure is limited or non-existent, digital currencies could provide a lifeline, enabling people to save, transact, and build wealth.

Moreover, the ability to conduct cross-border transactions without the inefficiencies and costs of intermediaries makes crypto uniquely positioned to transform industries like remittances and international trade.

But here’s the catch: this future won’t arrive on its own. Developers, policymakers, and industry leaders must take deliberate steps to address the technology’s shortcomings.

Failure to do so risks relegating crypto to a niche role – a missed opportunity in a dynamic world that desperately needs better financial solutions.

Time for Action

Cryptocurrency was never meant to be just an investment vehicle. Its true promise lies in its potential to democratize access to finance and empower individuals.

If crypto is to become a part of everyday life, the industry must move beyond the hype and tackle its real challenges head-on. Scalability, accessibility, and user-friendliness are existential issues that will determine whether cryptocurrency thrives or fades into irrelevance.

Cryptocurrency doesn’t need more promises—it needs solutions. The question is not whether crypto can be the future of money but whether we are ready to build it.

Disclaimer: The views, thoughts, and opinions expressed in the article belong solely to the author, and not necessarily to CCN, its management, employees, or affiliates. This content is for informational purposes only and should not be considered professional advice.

Alexander Guseff

Alexander Guseff is the Founder and CEO of Tectum, a subsidiary of Crispmind Ltd., advancing innovation in the FinTech and blockchain industries. With decades of experience in full-stack, high-performance blockchain development, Alexander has been instrumental in creating the Tectum Blockchain.
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