Survey Finds 77% of Bitcoin Holders Have Never Used DeFi Platforms

A new survey by BTC mining company GoMining reveals that the majority of Bitcoin investors remain disengaged from the emerging Bitcoin DeFi (BTCFi) ecosystem, despite growing media attention and venture capital funding.

According to the survey, which polled over 700 respondents across North America and Europe, 77% of Bitcoin holders have never used a BTCFi platform. Only around 10% said they had experimented once or twice, while just 8% actively participate in yield or lending protocols.

GoMining’s CEO Mark Zalan described the results as a sign of a fundamental accessibility gap. “There’s an enormous appetite for these opportunities, but the industry has built products for crypto natives, not for everyday Bitcoin holders,” Zalan said.
Despite limited adoption, the study found clear interest in future participation. About 73% of respondents expressed a desire to earn yield on their Bitcoin through lending or staking, while 42% said they wanted liquidity options without selling their holdings. Still, more than 40% said they would allocate less than 20% of their BTC to such products, citing trust issues and complexity as key concerns.

The lack of awareness remains striking – 65% of respondents couldn’t name a single BTCFi project, highlighting how disconnected most Bitcoin users are from decentralized finance. GoMining’s report attributes this to BTCFi’s tendency to mimic Ethereum’s DeFi model, which relies on complex self-custody and on-chain interactions.

“Bitcoin holders aren’t Ethereum users,” Zalan added. “Platforms that focus on simplicity, education, and trust – much like Bitcoin ETFs and regulated custodians – are the ones that will eventually win this market.”

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While GoMining acknowledged that its survey group represents a relatively small sample of around 700 users, the company argued that its user base closely mirrors mainstream Bitcoin demographics. According to GoMining, over 80% of its users open their first crypto wallet through its mining platform, offering a meaningful glimpse into how everyday investors view BTC-based financial products.

The findings suggest that while BTCFi’s growth potential is significant, the industry must prioritize usability and transparency before it can achieve mass adoption.

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