English (en)

This paper investigates user preferences and behaviors related&nbsp;to [Bitcoin](https://debifi.com) financial services,
focusing on&nbsp;custodial and non-custodial options, private key ownership, and the use of&nbsp;Bitcoin
as&nbsp;collateral. Data was gathered through an&nbsp;online survey and in-person responses at&nbsp;the
[Plan B&nbsp;Forum in&nbsp;Lugano](https://planb.lugano.ch/planb-forum/), targeting Bitcoin enthusiasts
to&nbsp;understand community-specific trends.

## Methodology

The survey collected 200 responses from participants selected randomly within the Bitcoin community, ensuring
representation while acknowledging potential biases. Questions covered demographic data, familiarity with custodial and
non-custodial services, and attitudes toward collateral, interest rates, and rehypothecation.

## Key Findings

### Demographics

Respondents were primarily aged 18-45 (75.6%) and predominantly from Europe (67.8%).

### Bitcoin Ownership and Familiarity

96.1% of&nbsp;participants had owned Bitcoin.

99.4% were familiar with custodial and non-custodial ownership concepts.

### Preference for Financial Services

78.1% preferred non-custodial services.

11.7% preferred custodial services.

10.2% had no&nbsp;preference.

66.3% considered exclusive access to&nbsp;private keys essential.

60.5% favored Bitcoin lending platforms over traditional banks.

![preference-for-financial-services.webp](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/preference_for_financial_services_adc851cd0d.webp)

### Willingness to&nbsp;Use Bitcoin as&nbsp;Collateral

83.9% indicated they would use Bitcoin as&nbsp;collateral for loans, reflecting trust in&nbsp;its role
as&nbsp;a&nbsp;financial asset.

### Interest Rate Trade-Offs and Rehypothecation

81% preferred avoiding rehypothecation, even at&nbsp;a&nbsp;higher interest rate (11%).

19% opted for an&nbsp;8% interest rate with rehypothecation.

78% opted for higher interest rates (+3%) to&nbsp;retain non-custodial control of&nbsp;their collateral.

![rehypothecation.webp](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/rehypothecation_8d05b58d1e.webp)

## Implications for Financial Services

These findings highlight a&nbsp;strong preference for non-custodial, user-controlled solutions that align with
Bitcoin&rsquo;s core principles of&nbsp;decentralization and transparency. Trust in&nbsp;platforms is&nbsp;critical,
with users valuing asset security over cost savings.

Service providers can meet these expectations by&nbsp;integrating features like multisig setups, transparent practices,
and protections against rehypothecation. Platforms such&nbsp;as [Debifi](https://debifi.com), with its non-custodial
model and innovative 3-of-4 multisig framework, address these user demands while emphasizing security and user autonomy.

## Conclusion

The study underscores a&nbsp;significant shift in&nbsp;user expectations, away from centralized models toward
decentralized, trustless financial systems. Bitcoin users demonstrate a&nbsp;willingness to&nbsp;trade higher costs for
control and transparency, reflecting a&nbsp;mature understanding of&nbsp;financial risks and rewards. By&nbsp;aligning
services with these preferences, providers can foster trust, loyalty, and adoption within the Bitcoin community.

This research serves as&nbsp;a&nbsp;roadmap for designing user-focused Bitcoin financial services that respect
decentralization and promote financial sovereignty.

[Download the original research paper](/docs/publications/Navigating_Bitcoin_Financial_Services_A_Survey_on_User_Behavior.pdf)

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Bitcoin Financial Services: User Behavior and Preferences

## Debifi

Debifi is&nbsp;a&nbsp;non-custodial lending platform designed to&nbsp;unlock Bitcoin&rsquo;s potential
as&nbsp;a&nbsp;premier form of&nbsp;collateral. Offering secure multisig escrow technology and a&nbsp;commitment
to&nbsp;transparency, Debifi specializes in&nbsp;providing unmatched [Bitcoin loan solutions](https://debifi.com) for
both individuals and institutions. Founded by&nbsp;leaders in&nbsp;the Bitcoin industry, the platform is&nbsp;setting
a&nbsp;new standard for Bitcoin-first financial services.

### A&nbsp;Vision for Bitcoin Holders: &laquo;Don&rsquo;t Sell, Borrow&raquo;

Debifi remains dedicated to&nbsp;empowering Bitcoin holders with innovative financial solutions, echoing Michael
Saylor&rsquo;s well-known philosophy:

> Bitcoin is&nbsp;a&nbsp;long-term asset, and the key to&nbsp;preserving its value is&nbsp;to&nbsp;never sell&nbsp;it.

This approach underpins the company&rsquo;s mission: providing Bitcoin holders with seamless access to&nbsp;capital
while maintaining their assets intact.

### Leading Investors Behind Debifi

The investment round was led&nbsp;by [Timechain](https://timechain.concentric.vc), with participation from notable
backers, including:

- [Axiom BTC Capital](https://www.axiombtc.capital)
- [Fulgur Ventures](https://fulgur.ventures)
- Plan B&nbsp;Fund
- Epoch VC
- Cep Private Equity
- Exodus I&nbsp;GmbH

Prominent Bitcoin advocates [Willy Woo](https://x.com/woonomic), Brad Mills, Chris Hunter, and Giacomo Zucco.

This diverse group of&nbsp;investors brings strategic insights and a&nbsp;shared commitment to&nbsp;advancing Bitcoin
as&nbsp;a&nbsp;financial cornerstone.

### Expert Opinions on&nbsp;Bitcoin Lending

The enthusiasm from investors reflects confidence in&nbsp;Debifi&rsquo;s vision. Alexander Mann of&nbsp;Timechain
emphasized the importance of&nbsp;integrity in&nbsp;Bitcoin-backed loans, adding:

> We&nbsp;expect their implementation to&nbsp;become the standard globally.

Meanwhile, Allen Farrington from Axiom BTC Capital highlighted Debifi&rsquo;s role in&nbsp;Bitcoin&rsquo;s integration
into capital markets, stating:

> Their approach to&nbsp;scaling the overcollateralized Bitcoin-backed lending market is&nbsp;thrilling.

### Driving Innovation in&nbsp;Bitcoin Lending

[Max Keidun](https://x.com/keidunm), Debifi&rsquo;s CEO, expressed pride in&nbsp;reaching this milestone:

> Although Debifi.com is&nbsp;at&nbsp;the very beginning of&nbsp;its journey, we&nbsp;already have solid results and
> have been generating revenue since week one of&nbsp;our launch.

Debifi&rsquo;s roadmap includes a&nbsp;focus on&nbsp;launching new Bitcoin-backed credit products in&nbsp;early 2025.
These offerings, currently in&nbsp;stealth mode, are designed to&nbsp;set a&nbsp;new benchmark for security and
transparency in&nbsp;the lending market.

## Expanding Horizons with Strategic Capital

Debifi plans to&nbsp;channel the newly raised funds into several key areas:

- **Team Expansion:** Enhancing technical and business development capabilities.
- **Market Presence:** Establishing a&nbsp;footprint in&nbsp;new regions.
- **Product Innovation:** Introducing groundbreaking non-custodial, no-rehypothecation credit solutions.
- **Marketing Campaigns:** Raising awareness and driving user adoption.

### Rapid Market Growth and Adoption

Since its beta launch, Debifi has experienced exceptional growth, with loan originations doubling each quarter. The
introduction of&nbsp;the [Debifi iOS app](/app) has further accelerated user acquisition, demonstrating the growing demand
for Bitcoin-backed borrowing solutions.

### Seizing the Market Momentum

As&nbsp;global financial systems increasingly recognize Bitcoin&rsquo;s value as&nbsp;a&nbsp;&laquo;super
collateral&raquo;, Debifi is&nbsp;uniquely positioned to&nbsp;meet this demand. With Bitcoin adoption growing among
individuals and institutions alike, the platform aims to&nbsp;connect liquidity providers with Bitcoin holders globally.

## Looking Ahead: What&rsquo;s Next for Debifi?

Exciting developments are on&nbsp;the horizon as&nbsp;Debifi prepares to&nbsp;launch a&nbsp;suite of&nbsp;groundbreaking
**Bitcoin-backed credit products in&nbsp;Q1 2025**. These innovative solutions are set to&nbsp;redefine the standards
of&nbsp;non-custodial lending, further solidifying Debifi&rsquo;s leadership in&nbsp;the space.

Stay connected with&nbsp;us to&nbsp;be&nbsp;the first to&nbsp;know about these upcoming releases and more. Subscribe
to&nbsp;our channels&nbsp;on [X.com](https://x.com/debificom) and [LinkedIn](https://linkedin.com/company/debifi) for
the latest updates, insights, and exclusive announcements.

## About Debifi

Debifi is&nbsp;a&nbsp;non-custodial lending platform designed to&nbsp;unlock Bitcoin&rsquo;s potential
as&nbsp;a&nbsp;premier form of&nbsp;collateral. With secure multisig escrow technology and an&nbsp;unwavering focus
on&nbsp;transparency, Debifi provides unparalleled borrowing solutions for individuals and institutions. Founded
by&nbsp;leaders in&nbsp;the Bitcoin industry, the platform is&nbsp;setting a&nbsp;new standard for Bitcoin-first
financial services.

For media inquiries, please [contact us](mailto:sergejs.ponomarjovs@debifi.com)

Debifi ‘Don’t Sell, Borrow’ graphic highlighting Bitcoin-backed lending and liquidity access

Debifi Blog