Why is DeFi adoption so slow ?

Like I get that crypto (and DeFi specifically) are still new, but the rate of people converting from financial institutions to DeFi is veryy low.

It’s baffling to me that we see all the scandals and agendas behind financial institutions and how much DeFi is more secure and efficient, yet we still choose to stick to financial institutions…

I myself left them completely (I still have a small chunk of capital frozen in my bank account) and decided to start investing in DeFi. There’s a company called Bonded Finance that is already giving me much more profits that what I used to get. My passive income is now much higher.

I think it’s all just a case of FUD. Once more people start joining, it’ll be like a snowball. It won’t stop.

What do you think?

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  1. People fear what they do not understand. Most people don’t just want to wonder into a new terrain (DeFi). They are comfortable amidst the chaos caused by financial institutions.

  2. In addition to previous comments, one reason may be because it’s not easy for the average consumer to purchase goods and/or services with crypto. I think adoption of defi by the general public won’t occur until most/all retailers start accepting crypto as payment.

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