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There are three top reasons for Bitcoin’s failure to reach the masses, according to experts and relevant reports. One of them is trust. "The biggest problem, rather ironically is trust,” says Clement Thibault, Senior Analyst at Investing.com. “Most people don't understand the digital currency and only see Bitcoin's erratic price movement. A lack of understanding coupled with wild price swings create a negative environment for adoption.”



"Additionally, holding Bitcoin is much harder and more complicated than holding cash,” adds Thibault. “You'd need to set up a node, hold your private keys and be entirely responsible for anything that goes wrong. Most people just aren't ready for this kind of commitment and the comfort of fiat money suits them well, as imperfect as it may be."

Then there’s the difficulty of dealing with Bitcoin exchanges, and switching back and forth between Bitcoin and cash. That’s according to a recent LendEDU report in which we analyzed virtual currency-related complaints in the CFPB's Consumer Complaint Database from 2016 to 2018. The report finds a 17,000% spike in virtual currency-related complaints for the 2016-18 period, with the most common complain having to do with the timely receiving of money when it was promised (35%).

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