Global Market Perceptions of Cryptocurrency and the Use of Cryptocurrency by Consumers: A Pilot Study-Reference-Cited by-同舟云学术

Global Market Perceptions of Cryptocurrency and the Use of Cryptocurrency by Consumers: A Pilot Study

Published:2023-10-20 Issue:4 Volume:18 Page:1955-1970
ISSN:0718-1876
Container-title:Journal of Theoretical and Applied Electronic Commerce Research
language:en
Short-container-title:JTAER

Author:

Murugappan Murugappan¹²³^ORCID,Nair Rashmi⁴,Krishnan Saravanan⁵^ORCID

Affiliation:

1. Intelligent Signal Processing (ISP) Lab., Department of Electronics and Communication Engineering, Faculty of Engineering, Kuwait College of Science and Technology, Doha 13133, Kuwait

2. Department of Electronics and Communication Engineering, Faculty of Engineering, Vels Institute of Sciences, Technology and Advanced Studies, Chennai 600117, India

3. Center of Excellence for Unmanned Aerial Systems (CoEUAS), Universiti Malaysia Perlis, Perlis 02600, Malaysia

4. Department of Economics, University of Michigan, Tappan Ave., Ann Arbor, MI 48109-1220, USA

5. Department of Computer Science and Engineering, Faculty of Engineering, Anna University, Chennai 600025, India

Abstract

Cryptocurrencies, like Bitcoin and Ethereum, have garnered global attention in recent years as digital alternatives to traditional fiat currencies. This paper explores the complex landscape of cryptocurrency adoption, consumer behavior, and perceptions. Beginning with the origin of cryptocurrencies and the dominance of Bitcoin with its USD 1.23 trillion market capitalization, the paper highlights popular online platforms facilitating Bitcoin trading. It also examines the varying legal statuses and regulations across different countries, with a notable divide between Eastern and Western nations, attributed to factors like wealth, risk tolerance, and government restrictions. The role of blockchain technology as the foundation of cryptocurrencies is explained, emphasizing its role in ensuring secure and transparent transactions. The paper delves into the processes involved in handling cryptocurrencies, including the blockchain, exchanges, wallets, and mining. Consumer behavior and the factors influencing cryptocurrency usage are analyzed, with a focus on speculation, algorithm trust, spending power, and demographics. Survey findings and case studies from diverse geographical areas reveal patterns of adoption and local consumer perceptions. The paper concludes by discussing the cryptocurrency market’s inherent volatility and sensitivity to regulatory changes, as well as the different types of cryptocurrencies and online exchanges shaping this evolving financial landscape. Overall, it offers insights into the complex dynamics surrounding cryptocurrency adoption and its potential impact on global finance.

Publisher

MDPI AG

Subject

Computer Science Applications,General Business, Management and Accounting

Link

https://www.mdpi.com/0718-1876/18/4/98/pdf

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