Technology

Why Are There No New Users in the Crypto Market? How Multi-Asset Trading Wallet BiyaPay Is Finding New Solutions Amidst Fierce Competition and User Confusion ？

Published

1 year ago

April 1, 2025

SINGAPORE, March 31, 2025 /CNW/ —

Introduction

In recent years, the cryptocurrency market has undergone a dramatic shift from euphoria to calm. At one point, Bitcoin and Ethereum prices hit new highs, and concepts like NFTs and the Metaverse rapidly gained traction, attracting a flood of new users. However, as the market cooled down, the growth of new users slowed significantly, even showing signs of stagnation. This phenomenon has caused concern within the industry: why is the crypto market struggling to attract new participants? Despite continuous technological innovation and an abundance of new projects, public interest has not kept pace. The challenges faced by the crypto market are rooted in increasing competition and a more complex ecosystem, which has left new users confused. This article will explore why the crypto market is experiencing a lack of significant new user growth and discuss how, in the midst of intense competition and user confusion, companies like BiyaPay, a leading multi-asset trading wallet, are finding new ways to drive growth in the crypto industry.

Market Situation Analysis

The competition in the crypto market has intensified, and the ecosystem has become increasingly saturated. From public chains to sidechains, to Layer 2 networks and various decentralized applications (dApps), the number of projects has exploded. According to statistics, over 350 active blockchain networks exist worldwide, and the number of new tokens issued each day reaches tens of thousands. The fragmentation of the market has intensified, and users are now faced with an overwhelming number of choices. However, despite the continuous increase in projects, user growth has not followed suit. Indicators like Total Value Locked (TVL) show that the current cycle has not surpassed previous market highs. The decline in search interest for the term “crypto” on Google Trends also reflects the cyclical decrease in public interest. For beginners, entering the crypto world is far from simple: hundreds of blockchains, wallets, and various protocols and applications make the decision process overwhelming, and the sheer number of options raises the cognitive and usability barriers.

The stagnation in new user growth is driven by multiple factors. First, the user experience of crypto products is significantly more complex than that of traditional internet applications. New users must not only install digital wallets, back up recovery phrases, purchase digital currencies, and pay miner fees but also switch between different blockchain networks, which is particularly daunting for those with no prior exposure to crypto technology. Second, market fragmentation is severe. The ecosystems of various public chains are isolated, making asset interoperability a challenge. This means users need to switch between platforms, for example, dApps on Ethereum have high transaction fees, and users seeking cheaper alternatives often have to learn new wallets and operational logic. The lack of unified standards and interoperability creates friction in user experiences. Lastly, information overload exacerbates user confusion. With thousands of token projects, new users often struggle to distinguish valuable projects from fraudulent ones. The complexity of the experience and the overload of information discourage potential users from entering the market.

Beyond the complexity of the user experience, external factors also contribute to the hesitation of new users entering the crypto market. One significant challenge is regulatory uncertainty. Different countries have vastly differing attitudes toward cryptocurrencies, and their regulations are subject to frequent changes. Some countries have welcomed crypto innovation only to suddenly impose strict regulations, while others have yet to define clear regulations. This uncertainty makes it difficult for crypto companies to operate compliantly, and users feel uneasy about investing in crypto due to the risk of sudden regulatory crackdowns. Another challenge is the frequent occurrence of security incidents, which has damaged the public image of the industry. Events such as exchange bankruptcies, project founders running off with funds, and hacking incidents have shaken user confidence in the safety of crypto platforms. The media’s coverage of crypto scams, money laundering, and other criminal activities has further exacerbated the industry’s reputation crisis. These events make ordinary users wary of entering the crypto space, as they fear losing their funds or getting caught up in illegal activities. Trust issues have become the most significant psychological barrier preventing new users from entering the market.

Core Barriers to User Growth

The target audience for the crypto industry is not homogeneous but highly diversified. Developers, ordinary users, investors, and institutions all have different needs, contributing to the fragmentation of the market. For example, public chain projects primarily target developers, as only developers can build applications that attract end users and grow the ecosystem. Therefore, public chains need to focus on “developer marketing” and technical documentation to encourage developers to adopt their chains. However, these efforts may not directly translate into growth for the average user base. For dApp applications, which should ideally focus on end users, many instead focus on attracting token holders and speculative funds. Sometimes token holders are not actual users of the product but engage in speculative arbitrage, which does not contribute to real user growth. Venture capitalists and institutional investors are primarily focused on return on investment (ROI), and they invest in projects with the expectation that token prices will appreciate. This often leads projects to prioritize token price management and exchange partnerships over improving the product’s appeal to everyday users. Meanwhile, retail speculators are more concerned with short-term price fluctuations and lack patience for long-term value, which makes it difficult to cultivate a loyal user base. Technical partners, such as cross-chain bridges and wallet plugins, form another isolated group. The diverse interests of these stakeholders contribute to the fragmentation of the market, making it harder to target and grow a unified user base.

The high technical complexity of crypto technology is another significant barrier to user adoption. Many ordinary people have heard of Bitcoin but find it difficult to understand blockchain principles, private key signing, or how to manage a string of characters on their own. The high technical threshold leads to mistakes or discomfort when users first experience the technology. For example, a user might accidentally enter the wrong address during a transaction, resulting in the loss of their assets. The high transaction fees, especially during Ethereum‘s peak, also discourage small investors and beginners from participating in the market. These issues highlight that blockchain infrastructure is still far from being ready for large-scale commercial adoption. At the same time, the lack of trust has worsened the problem. The 2021 bull market attracted a wave of mainstream users, especially with celebrities endorsing NFTs, but many new users withdrew after the market crash in 2022. Exchange collapses and project failures have left people with negative perceptions of the industry. When the media frequently reports on Bitcoin‘s “death” or the collapse of major crypto projects, it reinforces this negative view. Therefore, when technical complexity and trust issues are combined, convincing new users to enter the market becomes an uphill battle. They are either discouraged by the high barriers to entry or deterred by security concerns.

The high cost and complex entry process are additional hurdles for new users. For many newcomers, buying cryptocurrencies is already a significant barrier. Fiat-to-crypto channels are limited, and transaction fees can be high. Through third-party payment methods, users might face additional fees of 2-5%, discouraging small-scale users. Additionally, the volatility of crypto asset prices often causes new users to fear that they will “get stuck” as soon as they enter the market, adding to the psychological cost. Transaction costs are also significant, including high fees for blockchain Gas and additional charges for withdrawal and exchange transactions. Furthermore, the onboarding process is complex. Traditional financial account opening may only require identification documents, but in the crypto world, new users often face multiple steps: registering on exchanges, completing KYC (Know Your Customer) verification, linking bank accounts or wallets, depositing fiat currency to purchase USDT or BTC, and finally transferring funds to personal wallets. This process involves several platforms, and each step introduces new concepts (KYC, wallet addresses, private keys) that users need to understand. Some users may abandon the process midway or fall victim to phishing sites that steal recovery phrases. In comparison, Web2 applications have far simpler onboarding processes. The cumbersome entry process further reduces the attractiveness of crypto products to new users.

Where Is the Breakthrough?

To overcome these barriers, the crypto industry must focus on lowering entry barriers, building trust, and enhancing practical functionality. One company leading the way in this regard is BiyaPay, a global multi-asset trading wallet that offers potential solutions through its product features and service model.

BiyaPay’s standout feature is its multi-asset trading function, which allows users to manage various financial assets, including digital currencies, U.S. stocks, Hong Kong stocks, and more, all within a single platform. This “one-stop” design significantly reduces the entry barrier for new users. Firstly, new users no longer need to download multiple apps or switch between platforms. Traditionally, users needed to open a securities account to trade stocks and register with a crypto exchange for digital currencies. With BiyaPay, users can trade both stocks and crypto assets in one wallet, greatly simplifying the process. For traditional investors, they can now access digital currencies through a familiar stock trading platform, while crypto users can easily engage in traditional asset trading. Secondly, this multi-asset integration makes cross-market operations much more convenient. Users can exchange stablecoins for U.S. dollars and trade U.S. or Hong Kong stocks without the need for complex cross-border transfers or opening offshore accounts. BiyaPay supports converting USDT or other digital assets into fiat currencies and then using them to buy and sell U.S. or Hong Kong stocks, all without the hassle of opening offshore bank accounts. The platform allows for rapid account opening in just five minutes and seamless asset exchange, making global financial markets easily accessible. This simplified experience greatly reduces the psychological barriers for new users, making them more likely to engage with different features.

Another breakthrough offered by BiyaPay is its global payment and remittance services, which solve the difficulties associated with cross-border transactions. The platform supports real-time exchange and remittance for over twenty fiat currencies and more than ten major cryptocurrencies at very low costs. For example, a user working overseas can easily send funds to their family by exchanging digital assets into the local fiat currency on BiyaPay and transferring the funds to a recipient’s account. The low fees (around 0.5%) and the elimination of complex intermediary steps provide a significant advantage over traditional remittance services, which can take days to process and have high fees. This service meets real-world financial needs, attracting users who may not be interested in crypto technology itself but need a convenient cross-border payment solution. For instance, in countries experiencing high inflation, residents can use BiyaPay to convert their local currency into stablecoins for value preservation and then exchange them back into fiat currency when needed. This new use case for crypto is a major breakthrough for the industry, as it shifts the focus from speculative trading to practical financial solutions, making the crypto world more accessible.

BiyaPay also builds user trust by operating in a fully compliant and secure manner. It is headquartered in Singapore, with subsidiaries in the U.S., Canada, and Hong Kong, holding comprehensive financial licenses to ensure legal and compliant operations. BiyaPay emphasizes its “complete licensing, safe and reliable” credentials, which help build trust, especially during times of regulatory uncertainty. Users are more likely to trust a regulated platform with legitimate licenses rather than an anonymous underground exchange. In addition to regulatory compliance, BiyaPay also focuses on security, using bank-grade encryption and multi-factor authentication mechanisms to safeguard user assets and data. This focus on security and risk management ensures that users can make secure transactions without worrying about their funds being frozen or confiscated, a common concern among crypto users.

BiyaPay’s multi-asset strategy not only lowers entry barriers but also broadens its potential user base. By offering both traditional financial assets and cryptocurrencies on the same platform, BiyaPay appeals to a diverse range of investors. Traditional investors who are interested in global markets can use BiyaPay to access cryptocurrency markets easily, while crypto investors can use the platform to diversify their portfolios into traditional assets. This cross-pollination between the “stock” and “crypto” communities significantly expands BiyaPay’s user base.

Future Trends and Outlook

Looking ahead, the emergence of Web3 technologies offers new growth opportunities for the crypto market. Social finance, NFTs, and the Metaverse are emerging fields that could drive the next wave of user growth. BiyaPay can tap into these trends by supporting features such as NFT asset management and Metaverse payment solutions, which would cater to users’ needs in these new areas.

In addition to technological innovation, the crypto industry needs to invest in branding and user education to truly reach new audiences. Clear marketing messages and user education efforts can break down existing barriers to entry. By promoting simple, relatable messages such as “blockchain makes cross-border payments as easy as texting,” crypto platforms like BiyaPay can resonate with mainstream users and reduce the cognitive hurdles new users face.

Conclusion

The slowdown in new user growth in the crypto market is due to a combination of factors, including technological complexity, market fragmentation, and trust issues. However, by improving the user experience, strengthening compliance and security, and expanding practical use cases, the market can overcome these barriers. BiyaPay, as a leading multi-asset trading wallet, demonstrates a successful approach by offering integrated services, global payment solutions, and strong regulatory compliance. The future of the crypto industry looks promising, with the potential to attract new users through innovative products and improved user experiences.

About BiyaPay

BiyaPay is a global multi-asset trading wallet that supports instant exchange of more than 30 fiat currencies and more than 200 digital currencies, and provides USDT direct advertising US stocks, Hong Kong stocks and digital currency spot and contract trading services. Its compliance withdrawal channel and one-stop financial ecosystem are trusted by users around the world.

Learn more information

BiyaPay official website: www.biyapay.com

Customer service email: service@biyapay.com

Telegram supports: https://t.me/biyapay001

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SOURCE BiyaPay

Technology

AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

Published

3 hours ago

July 18, 2026

Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it! AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

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SOURCE HUAWEI

Technology

Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

Published

4 hours ago

July 18, 2026

Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen:

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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SOURCE Laifen

Technology

Pillsbury Notice of Data Breach

Published

7 hours ago

July 18, 2026

NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html.

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SOURCE Pillsbury Winthrop Shaw Pittman LLP