Cryptocurrency exchange OKX released a survey of 1,000 active cryptocurrency traders in the United States indicates that behaviors the banking sector has urged Congress to restrict are already widespread.
According to the findings, over 65% of respondents have used on-chain tools to earn yield on stablecoins, with more than one-quarter engaging in these activities regularly. The data suggests that the deposit flight scenario often cited in opposition to the GENIUS Act has not occurred.
The surveyed traders represent a highly experienced segment of the market, with nearly two-thirds having begun active trading prior to 2023 and navigating multiple market cycles.
Despite their experience, on-chain trading remains operationally challenging. Twenty-nine percent of respondents identified security risks and scams as the primary barrier preventing them from further engagement, ahead of concerns related to fees, pricing uncertainty, and other factors.
Stablecoin yield strategies have become increasingly mainstream among active traders. Providing liquidity to stablecoin pools is the most widely adopted approach, engaging nearly 40% of participants, followed closely by staking on centralized platforms at slightly more than 36%. Lending through decentralized finance protocols also attracts nearly one in five users. These trends indicate that stablecoin yield is being used less as a speculative instrument and more as a practical financial tool, bridging centralized infrastructure and decentralized markets.
Traders Seek Control While Delegating Operational Burdens
The survey also highlights a strong preference among traders for maintaining control over their assets. Fifty-one percent of respondents indicated a desire to manage most trading activities themselves with some automation, while 38 percent prefer full responsibility. Only two percent expressed willingness to relinquish control entirely. However, operational challenges remain a limiting factor: 25% of respondents fear making irreversible mistakes, and 23% report difficulty managing multiple applications. Issues such as seed phrase management, irreversible transactions, and fragmented user interfaces continue to constrain even experienced traders.
Regarding delegation of on-chain tasks to exchanges, respondents were most comfortable outsourcing best-price routing, followed by scam detection, execution timing optimization, and bridging. Only one percent indicated that they would not delegate any activities. This pattern reflects a desire to retain strategic decision-making while offloading operational and security responsibilities, a division of labor long established in traditional finance that crypto platforms are now expected to replicate.
The survey also underscores the potential role of regulatory clarity in accelerating on-chain adoption. When presented with a model combining centralized exchange infrastructure with on-chain execution, 90% of respondents expressed positive interest, a figure that rises when regulatory frameworks are considered. Security concerns, identified as the leading barrier to engagement, are the type of risk that legislation addressing custody rules, consumer protections, and liability frameworks could mitigate.
More than one-third of respondents anticipate using centralized exchanges as their primary gateway to on-chain markets, while only 16% plan to access these markets directly through decentralized finance platforms.
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Source: Mpost.io
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