The global economy is nearly 80 trillion USD per year. Payments using any type of cryptocurrency as a medium of payment is a tiny fraction of this total.
What are some of the reasons preventing cryptocurrency from being more successful as a medium of payment?
I think it depends on the areas where cryptocurrencies are used by different individuals through their transactions. In the Philippines, cryptocurrencies are effect means of transferring money, in this case, I can say that it is successful since there is no record of error when transferring money if the address entered is correct. The only problem is the transaction speed.