Why Crypto Onboarding Still Fails
Every year, millions of people download a crypto app out of curiosity. Most never make it past the first few screens.
The Drop-Off Is Real
For first-time users, the path from "download" to "first trade" is filled with friction. Studies show that 60–90% of new users abandon the process before making a single transaction.
They usually quit at one of these steps:
Creating a wallet
Writing down (and trying to understand) a seed phrase
Figuring out how to fund their wallet
Getting lost in settings, gas fees, or KYC
According to TransFi:
60% of drop-offs happen before users even fund their account
Average onboarding time is over 12 minutes
More than 40% never complete identity verification
The Process Is Too Complex
Traditional onboarding expects users to:
Create a wallet
Secure a seed phrase
Add funds (via crypto or fiat)
Set gas fees
Connect to a dApp
Learn how to trade
That’s too many steps, and every extra screen is a chance for someone to give up.
It's Not Just Confusion, It's Fear
People are interested in crypto. But interest doesn’t equal understanding.
A recent U.S. survey found:
90% of non-crypto users don’t understand the basics
49% say they’re held back by confusion
24% said they quit because the terms were too overwhelming
Words like “seed phrase,” “slippage,” and “bridge” are not intuitive, they’re intimidating.
The Big Picture
Crypto can’t scale without new users, and new users aren’t making it in the door.
They’re curious. They want to participate. But they’re blocked by processes that weren’t built with them in mind.
If we want mainstream adoption, onboarding needs to feel less like homework… and more like opening an app.
Last updated