1 in 5 Stumble! Survey of 508 People on Crypto Asset Account Opening
Clabo Inc. surveyed 508 people who have opened cryptocurrency exchange accounts. The results revealed that only 14.2% completed the process smoothly, highlighting significant psychological and technical hurdles such as anxiety over screening times.
📋 Article Processing Timeline
- 📰 Published: April 15, 2026 at 19:10
- 🔍 Collected: April 15, 2026 at 10:31
- 🤖 AI Analyzed: April 19, 2026 at 13:55 (99h 23m after Collected)
Clabo Inc. (Headquarters: Minato-ku, Tokyo; CEO: Ikuma Ueno) conducted a survey among 508 people who have experienced opening an account at a cryptocurrency exchange regarding the 'stumbling blocks and psychological anxiety during the account opening process'.
The survey results revealed that only 14.2% of the respondents said they 'completed the process smoothly', while 1 in 5 answered that they 'stumbled along the way and it took time'. The main factors cited were technical and psychological hurdles such as 'anxiety waiting for screening (12.4%)' and 'flaws in photographing identity verification documents'. Even among those who successfully opened an account, 54.3% experienced some form of difficulty, highlighting the urgent need to improve the initial user experience in customer acquisition.
Through the analysis of account opening experiences and information-gathering trends by generation, as well as the 'churn segment' of users who stopped using the service after opening an account, this report presents the challenges in supporting smooth entry into the crypto asset market.
Check the full version of the survey results
■ Survey Overview
Survey date: February 24, 2026
Survey method: Internet survey
Target audience: Men and women residing in Japan (currently investing in crypto assets)
Valid responses: 508
Conducting body: Clabo Inc.
■ Survey Details
Account Opening Status
This survey comprehensively analyzed the account opening status at crypto asset (virtual currency) exchanges.
Among the survey respondents, the segment that had already completed account opening was approximately 57.9% (294 people).
Looking closer, this is divided into the segment that 'opened an account and is still using it' (182 people, 35.8%) and the segment that 'opened an account but is not using it' (84 people, 16.5%).
There was also a segment (28 people, 5.5%) that stopped the account opening process halfway. What is noteworthy is that a segment (84 people, 16.5%) exists that opened an account but is currently not using it.
The figure of over 42% for the segment that has not experienced opening an account (214 people, 42.1%) suggests that there is still significant room for market growth.
What can be understood from this is that users implicitly recognize that correct knowledge is necessary to hold crypto assets.
It was found that many users desire highly transparent transactions throughout the entire process from account opening to management.
Reality of Account Opening Process Difficulty
The account opening process at crypto asset (virtual currency) exchanges consists of multiple steps.
It is believed that there is a possibility for users to stumble at each stage, such as filling out the application form, submitting identity verification documents, conducting identity verification, screening, and system setup.
In this survey, 294 people who have experienced opening an account were asked in detail about the difficulty of the overall process. The results showed that only a segment of (72 people, 14.2%) answered that they 'completed the process smoothly'.
On the other hand, responses stating they 'stumbled along the way and it took time' reached (102 people, 20.1%), revealing that 1 in 5 people had a non-smooth opening experience.
Furthermore, it is noteworthy that there is a segment of (94 people, 18.5%) who 'were a little confused but completed it'. These users ultimately succeeded in opening an account, but psychological and time burdens occurred during the process, meaning that 54.3% of those who completed the process experienced some sort of difficulty.
Stumbling Point Ranking
So, what kind of challenges do users face in the account opening process? We asked the 294 people with account opening experience in detail in a multiple-choice format.
The most common stumbling point was 'I became anxious because the screening took time' at (63 people, 12.4%). This can be said to be related to psychological anxiety rather than a technical problem.
It can be seen that users feel anxious about the lack of information regarding how long it will take until the screening is completed and what step they are currently on.
The second place was 'I could not take photos or upload them well' at (49 people, 9.6%).
This suggests that technical hurdles exist, such as device operability, shooting environment, and usability of the upload function. The third place was 'There were many input fields and it became tedious' at (48 people, 9.4%).
The survey results revealed that only 14.2% of the respondents said they 'completed the process smoothly', while 1 in 5 answered that they 'stumbled along the way and it took time'. The main factors cited were technical and psychological hurdles such as 'anxiety waiting for screening (12.4%)' and 'flaws in photographing identity verification documents'. Even among those who successfully opened an account, 54.3% experienced some form of difficulty, highlighting the urgent need to improve the initial user experience in customer acquisition.
Through the analysis of account opening experiences and information-gathering trends by generation, as well as the 'churn segment' of users who stopped using the service after opening an account, this report presents the challenges in supporting smooth entry into the crypto asset market.
Check the full version of the survey results
■ Survey Overview
Survey date: February 24, 2026
Survey method: Internet survey
Target audience: Men and women residing in Japan (currently investing in crypto assets)
Valid responses: 508
Conducting body: Clabo Inc.
■ Survey Details
Account Opening Status
This survey comprehensively analyzed the account opening status at crypto asset (virtual currency) exchanges.
Among the survey respondents, the segment that had already completed account opening was approximately 57.9% (294 people).
Looking closer, this is divided into the segment that 'opened an account and is still using it' (182 people, 35.8%) and the segment that 'opened an account but is not using it' (84 people, 16.5%).
There was also a segment (28 people, 5.5%) that stopped the account opening process halfway. What is noteworthy is that a segment (84 people, 16.5%) exists that opened an account but is currently not using it.
The figure of over 42% for the segment that has not experienced opening an account (214 people, 42.1%) suggests that there is still significant room for market growth.
What can be understood from this is that users implicitly recognize that correct knowledge is necessary to hold crypto assets.
It was found that many users desire highly transparent transactions throughout the entire process from account opening to management.
Reality of Account Opening Process Difficulty
The account opening process at crypto asset (virtual currency) exchanges consists of multiple steps.
It is believed that there is a possibility for users to stumble at each stage, such as filling out the application form, submitting identity verification documents, conducting identity verification, screening, and system setup.
In this survey, 294 people who have experienced opening an account were asked in detail about the difficulty of the overall process. The results showed that only a segment of (72 people, 14.2%) answered that they 'completed the process smoothly'.
On the other hand, responses stating they 'stumbled along the way and it took time' reached (102 people, 20.1%), revealing that 1 in 5 people had a non-smooth opening experience.
Furthermore, it is noteworthy that there is a segment of (94 people, 18.5%) who 'were a little confused but completed it'. These users ultimately succeeded in opening an account, but psychological and time burdens occurred during the process, meaning that 54.3% of those who completed the process experienced some sort of difficulty.
Stumbling Point Ranking
So, what kind of challenges do users face in the account opening process? We asked the 294 people with account opening experience in detail in a multiple-choice format.
The most common stumbling point was 'I became anxious because the screening took time' at (63 people, 12.4%). This can be said to be related to psychological anxiety rather than a technical problem.
It can be seen that users feel anxious about the lack of information regarding how long it will take until the screening is completed and what step they are currently on.
The second place was 'I could not take photos or upload them well' at (49 people, 9.6%).
This suggests that technical hurdles exist, such as device operability, shooting environment, and usability of the upload function. The third place was 'There were many input fields and it became tedious' at (48 people, 9.4%).