According to a survey, 54% of respondents in the UAE and Saudi Arabia believe they should use cryptocurrencies for payments

The cryptocurrency is a major benefit for consumers.

While nearly half (48%) of the 30,000 respondents would like to pay with cryptocurrencies on a regular or occasional basis, there are still barriers preventing digital currencies from becoming mainstream, especially in countries such as Saudi Arabia and the United Arab Emirates. According to the report, about 25 percent of respondents in Saudi Arabia and just over 30 percent in the UAE believe "crypto is too difficult to mainstream.

Australia, France, Italy, Spain and the United Kingdom are other countries where more than 30 percent of respondents believe cryptocurrencies are too complicated. Another significant barrier to privately issued digital currencies entering the mainstream in Saudi Arabia and the UAE is the perception among consumers that crypto is dangerous.

According to the study data, slightly more than 30 percent of respondents in Saudi Arabia and nearly 30 percent in the UAE believe cryptocurrencies are too dangerous. In context, more than 40% of respondents in Hong Kong and Singapore agreed that cryptocurrencies will not catch on because they are too dangerous. Other significant challenges identified in the study include education gaps and disparities.