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Trust is the critical component

Consumers around the world echoed a similar sentiment: trust in crypto has suffered a setback. Across all consumer segments and geographies, respondents felt the greatest loss of trust in crypto ...

Nov 09, 2023 | Guides | | 1 min read

“Trust is an essential component of people learning to operate new technologies; if it doesn’t earn the trust of the masses, crypto can’t be a ubiquitous financial services ecosystem.”

– John Egan, Head of Product, Stripe Crypto

Consumers around the world echoed a similar sentiment: trust in crypto has suffered a setback. Across all consumer segments and geographies, respondents felt the greatest loss of trust in crypto platforms. This phenomenon is easily understood, since liquidity shocks centering around this category of companies received the greatest publicity and affected consumers in tangible, direct ways.

“Trust is so important in crypto given the uncertainty of the nascent industry, the evolving regulatory landscape, and the perception that crypto is the ‘Wild West,’ given some industry participant’s recent failures to put customer interests ahead of their own.”

– Ryan Grace, Head of Digital Assets, tastytrade

Crypto users and non-users are less trusting of exchanges

Said their trust
was diminished

Would never use a crypto exchange again

Do not believe information that comes from a crypto exchange

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Trust is the critical component

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