Cryptocurrency Usage Research Articles

The Impact of the Usage of Cryptocurrency on Perceived Benefits and Users’ Behavior

The Impact of the Usage of Cryptocurrency on Perceived Benefits and Users’ Behavior

Examining cryptocurrency usage by technology acceptance model in the Turkish context

In recent times, the usage of cryptocurrencies has become remarkably widespread in e-commerce applications. This study aims to explain the factors affecting cryptocurrencies by proposing an extended technology acceptance model (TAM) consisting of perceived ease of use, perceived usefulness, trust, social influence, social support, religious belief, and intention to use. A web-based survey was conducted to collect data from individuals who had never previously used cryptocurrencies and data were analyzed via employing partial least square structural equation modelling (PLS-SEM) with SmartPLS software. According to the results, the relationships based on early TAM were validated. Additionally, trust, social influence, and social support have direct effects on the intention to use. Contrary to expectations, religious belief has no influence on trust and intention to use. This study could draw the attention of researchers, developers, and marketers in cryptocurrency to understand the dynamics of potential customers. Findings of this study highlight the pressing need for policymakers in Turkiye to prioritize ease of use, perceived usefulness, and, most importantly, trust within the evolving landscape of cryptocurrency systems.

The Relationship Between Cryptocurrencies and the Trade Balance of Nigeria

Bitcoin has increased rapidly in value since the first day of its integration into today's markets. The increases experienced have directed the interest of global investors to this field over time. In addition to these developments, the increasing popularity of blockchain technology and the increase in the volume of cryptocurrencies have turned these currencies into an important tool for commercial activities. Although there are many studies to measure the international trade balance with exchange rates, no study has been found to examine the relationship between the change in cryptocurrency prices and the trade balance of countries. In this study, the relationship between the trade balance of Nigeria, one of the leading countries in the world in terms of cryptocurrency usage, and cryptocurrencies is analysed using NARDL analysis with coefficient symmetry test (2016/M4-2020/ M12). According to the research results, Bitcoin and Litecoin can have significant long-term impact on Nigeria's trade balance.

Text Analytics on Regulation of Cryptocurrency

This paper presented the views of Malaysians regarding their perception of cryptocurrency. Data were collected through interviews with 59 existing and potential users of cryptocurrency. Text analytics through keyword extraction and content analysis on the responses from the survey were then performed. Keywords on the question related to the regulation of cryptocurrency included “Government should”, “Should regulate”, and “Money laundering”. Keywords such as “Government should”, “Should issue”, and “Regulatory regime” appeared for the question related to whether the government should develop a cryptocurrency regulatory regime. On issuing their own cryptocurrency, 49% of the respondents supported it, while 42% were against such a move. 88% of the respondents felt that the government should not ban cryptocurrency transactions. For the question related to suggestions to overcome issues associated with cryptocurrency, keywords such as “financial system”, “privacy seriously”, and “enhance financial” were reported. This paper adds to the body of knowledge on cryptocurrency by shedding light on the regulation landscape in an emerging market. In view of the increased usage of cryptocurrency, the public should be educated, and relevant bodies should establish regulations to minimise possible related illegal activities while developing a cryptocurrency-friendly regulatory regime. Keywords: cryptocurrency, text analytics, regulation, Malaysia, fintech

The Impact of Cryptocurrency Investor Risk Perception and Awareness on the Current Uses and Future Projections of Cryptocurrencies: A Research on Istanbul Provincial Health Directorate Employees

This study investigates cryptocurrency knowledge, risk perception, and investment strategies among İstanbul Provincial Health Directorate employees. Analyzing data from 399 participants using the Cryptocurrency investment Trust Scale, which is developed by Ozyesil and Tembelo (2023), results indicate limited cryptocurrency awareness, moderate risk perception, and conservative investment tendencies. While most participants have heard of cryptocurrency, their understanding remains shalloyv, perceiving it as high-risk and favoring traditional financial instruments. The study emphasizes the necessity of educational initiatives and regulatory frameworks to facilitate safe and compliant cryptocurrency usage within the healthcare sector.

Cryptocurrency use and tax collections: Direct and indirect channels of influence

Using a recent global sample, this paper estimates the effect of cryptocurrency usage on tax revenue collections. We hypothesize that greater cryptocurrency use undermines tax collections, and this result generally holds across overall tax collections, VAT revenues, and GST revenues. The other contribution lies in dissecting the direct and indirect channels of cryptocurrency use on tax collections. Results show that greater cryptocurrency usage reduces tax collections. Furthermore, larger government sizes increase tax collections, while the COVID-19 pandemic undermined tax collections. Finally, significant differences were found in the direct and indirect effects. The main results withstand a number of robustness checks.

Crypto Currency and Digital Coins Overtaking the Traditional Banking Sector

Digital currencies and coins are methods of computer-generated currency which uses cryptography for safety and operate individually of a dominant authority, like governments and economic institution. They are spread out and usually utilize blockchain technology to note transactions strongly. Cryptocurrencies such as Bitcoins, Ethereum, and some others have grown popularity in the latest eons for their latent to deliver borderless, secure, and fast transactions. Yet, they also arisen with threats like security concerns, regulatory uncertainty, and price volatility. It is vital for operators to conduct detailed research and comprehend the threats included before capitalizing or utilizing cryptocurrencies. Even though cryptocurrencies and coins have grown famous and are being gradually used for countless transactions, it is significant to remind that they still have not passed the traditional banking systems. Traditional banking sectors still perform an important part in the worldwide economic system, offering services like payment processing, savings accounts, and lending. Conversely, the growth of cryptocurrencies has directed to conferences about the possible influence on the financing sector and the necessity for traditional banking systems to acclimate to the varying setting of digital economics. It is important to observe these growths closely to comprehend the evolving association among the crypto-currencies and system of traditional banking. Hence, the current study gives the deep knowledge in the usage of crypto currencies, digital coins and their role in financial sectors that is dominating the traditional banking sector. And analyzed the impact of crypto currencies and digital coins on investors and economy of the nation and also regarding the easy accessibility of finance.

Sosyal Medyada Kripto Para: Coin Piyasasına Yönelik Dijital Söylemin Analizi

This study delves into the dynamic landscape of public sentiment surrounding cryptocurrency through a comprehensive social media discourse analysis. Employing the Python Selenium library, data from 1000 public profiles across major platforms—X, Facebook, Instagram, and LinkedIn—were systematically collected. Using advanced text-mining techniques in R Studio, sentiment analysis was conducted with the ‘Syuzhet’ package and word frequency analysis via the ‘tm’ package. The results unveiled a nuanced emotional landscape characterized by dominant sentiments of anticipation and positivity, interwoven with expressions of negativity, notably anger, and loss. Word frequency analysis highlighted vital themes such as established cryptocurrencies (e.g., Bitcoin, Ethereum), blockchain technology, and practical and financial aspects of cryptocurrency usage. The study illuminated technical interest, financial speculation, and reactions to regulatory and economic developments. Offering insights crucial for stakeholders, including investors and policymakers, this research contributes to the academic understanding of public sentiment, emphasizing the volatile nature of crypto-currency markets and the transformative potential of blockchain technology and calls for ongoing monitoring of public sentiment to inform policy, investment, and technological innovation in the ever-evolving cryptocurrency ecosystem.

Problems and Prospects of Cryptocurrency Usage in China and Cambodia

The transformation of the digital economy has been constantly evolving in the society of the 4.0 industrial revolution, particularly under the governmental policies of developed countries. One of the most popular tools in digital economy activities is cryptocurrency, which has led to a rise in digital awareness among people who are more inclined to live their lives electronically and digitally. The aim of this study is to explore the problems and prospects associated with the usage of cryptocurrency and identify ways to address these issues using the governmental roadmap in China and Cambodia. The methods employed in this study include descriptive, explanatory, and comparative analyses. The results demonstrate that the adoption of cryptocurrency presents both opportunities and threats to the Chinese and Cambodian economies. These opportunities and threats need to be carefully considered and balanced by policymakers and stakeholders. The conclusion drawn from the study is that there is still no official acceptance and recognition of cryptocurrency by the Chinese and Cambodian governments. This is primarily due to the fact that the risks and challenges associated with cryptocurrencies are deemed to be greater than the foreseeable opportunities, making them difficult to manage effectively.

Illuminating the dark corners: a qualitative examination of cryptocurrency’s risk

PurposeThe study provides a comprehensive understanding of the issues and illegal activities related to cryptocurrencies and their negative repercussions. This study aims to identify and classify cryptocurrency downsides using grounded theory and in-depth interviews. The study also analysed investors’ reluctance to invest in cryptocurrency. This pioneering qualitative study illuminates a deep and multifaceted criminal aspect of cryptocurrency.Design/methodology/approachThe study conducted in-depth interviews with respondents who have experience and knowledge of cryptocurrency investments. The interviews were recorded and transcribed. The analysis was performed using the NVivo 14 software in the study.FindingsThe study specified two major types of cryptocurrency’s negative aspects: barriers and illegal usage. Barriers to cryptocurrency investment include technological, security, trust, market-related and regulatory reasons. Terrorist funding, money laundering, fraud and ransom payments are all examples of illegal usage. The results of the word cloud analysis are consistent with the overall findings of the survey, which highlighted illegal usage as a prominent negative element of cryptocurrencies. It is a key reason why cryptocurrency is not included in investing portfolios by investors.Originality/valueThe study’s findings provide useful insights for policymakers to develop better methods for successfully mitigating risks and ensuring responsible and sustainable usage of cryptocurrencies. In addition, the study could serve as a stepping stone for more cryptocurrency-related studies, contributing to the development of a more complete and nuanced comprehension of this emergent technology and its societal effects.

Can Cryptocurrencies Provide Better Diversification Benefits? Evidence from the Indian Stock Market

Cryptocurrency has recently emerged as a financial asset among policymakers, investors and academics as a new alternative asset in the financial landscape. This research intends to empirically evaluate the safe haven, diversification and hedging potentials of digital currencies against the Indian equity market during different time frames. Four cryptocurrencies (Bitcoin, Ethereum, Binance Coin and Ripple) and Nifty 50 index data have been collected on a daily basis, from 26 July 2017 to 31 August 2023, for this purpose. Using wavelet-based methods, the study has discovered higher volatility in Nifty 50 and cryptocurrency prices during the crisis and stronger co-movement between pairs of equities and cryptocurrencies. Furthermore, the study finds that, under normal economic conditions, cryptocurrency can hedge the Indian stock market over short-term, medium-term and long-term investment horizons. However, investing in cryptocurrencies in the Indian stock portfolio for the short term does not give any safe haven or diversification advantages during times of economic crisis. Finally, we anticipate that the findings of our study will provide valuable insights into the potential usage of cryptocurrencies in the Indian stock market, both in stable and turbulent economic conditions. JEL Codes: G01, G41, N2, P34

Why do people choose to continue using cryptocurrencies?

This study empirically explores the determinants that impact the intention to continue using cryptocurrencies. It also examines the potential impact of financial literacy on the perceived value and optimism associated with cryptocurrencies. Data was collected from 386 participants in Jordan through a questionnaire. The research model was assessed, and hypotheses were tested using Smart PLS. However, the outcome of the path analysis confirmed that perceived value, optimism, and cryptocurrency addiction are significant determinants of continued cryptocurrency usage intention. This study also revealed that financial literacy increases optimism and perceptions of cryptocurrency value. Furthermore, the path analysis shows that the intention to continue cryptocurrency usage is not conditional on trust. These findings add to the literature and theory of cryptocurrency adoption by providing new insights and an advanced understanding of the determining factors of intention to continue cryptocurrency usage. It also improves our understanding of how investors think and their motives for investing in cryptocurrency markets, which helps cryptocurrency companies in promoting their continued use.

PROOF-OF-STAKE CONSENSUS METHOD FOR UPCOMING BLOCKCHAIN NETWORKS

Currency transaction is a major part that had to be made secured. So rather than making usual currency transactions, there is a secured way of currency transactions by using cryptocurrency which has the concept of blockchain. In today's world, the advancement of cryptocurrency facilitates every individual to make use of cryptocurrency for investing savings and transactions. Hence we can witness the huge number of transactions are occurring per second. Hence it is transforming the way of understanding the currency in a digitalized manner. It invokes interposer to interlope in the particulars of the transactions. To make an ensured transaction, we are using APC cryptocurrency. This APC cryptocurrency transaction is made protected with the support of blockchain so that every user utilizing the APC for their transactions, can be more confident in doing their currency operations. The biggest demand of every user is securing their transaction details regarding the usage of cryptocurrency. Therefore, by using the hashing algorithm we are converting the values of the user’s transactions details into hash values. The transaction details are validated using a validator and the validations are fact-checked by the administration, with the implementation of the modal concept of “proof of stake”.

Investigating the unexpected determinants of cryptocurrency adoption in the UAE

PurposeFinancial inclusion provides access to financial infrastructure, facilitating money transfers. Therefore, blockchain and cryptocurrencies might boost worldwide financial acceptance. However, the UAE has one of the lowest cryptocurrency adoption rates. This study explores the UAE customer adoption and use of cryptocurrencies.Design/methodology/approachUsing a scale, the authors created a structural model and obtained 270 responses from a snowball-distributed online questionnaire, assessed by five cryptocurrency specialists.FindingsPerformance expectations (PE), price value (PV), Hedonic motivation (HM) and consumer innovativeness (CI) were the most significant predictors of behavioural intention (BI). Surprisingly, BI is not a reliable indication of actual consumption. Facilitating conditions (FC) are the most accurate predictor of cryptocurrency usage (CU), indicating that adoption might be increased by providing the necessary structures and processes to lead users.Research limitations/implicationsThis research adds to the body of knowledge by examining the adoption and implementation of cryptocurrencies in the UAE and by developing and evaluating new constructs based on current notions. The study also contributes to the current understanding of cryptocurrencies and blockchain adoption.Practical implicationsThe conclusions of the research advise marketers on how to boost the commercialisation of cryptocurrencies in the UAE market and may pave the way for other studies to assist impending developments in the UAE cryptocurrency industry.Originality/valueThis research offers novel insights into significant predictors of cryptocurrency product uptake in the financial and banking business.

Regulasi Cryptocurrency dan Hak Asasi Manusia

This study aims to evaluate the impact of cryptocurrency regulations on human rights, with a particular focus on digital rights, privacy, and security. Cryptocurrencies, such as Bitcoin and Ethereum, have rapidly evolved as a new form of decentralized digital finance. However, this growth has raised questions about how cryptocurrencies affect individuals' rights, especially in terms of privacy and the security of personal data. This study employs a normative legal approach and conceptual analysis to explore existing regulations and trends related to cryptocurrency in various jurisdictions. Additionally, the research incorporates a theoretical perspective on human rights to identify potential implications of cryptocurrency regulation on privacy and digital security. The study's findings should shed light on how human rights are affected by the way cryptocurrencies are currently regulated and set the stage for any future legislative adjustments that would be required to strike a balance between personal safety and technological innovation. This research can also assist policymakers and regulators in tightening legal work practices, which will enable advancements in cryptocurrency while upholding individual rights. With the continuous growth in cryptocurrency usage and the growing concerns about privacy and security, this study is relevant in supporting ongoing discussions on how the law can accommodate this innovative technology without compromising human rights.

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

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.

The Role of Cryptocurrencies in Shaping the Future of Mobile Money Services in Lusaka, Zambia.

Purpose: This research provides a comprehensive exploration of the intersection between cryptocurrencies and mobile money services, particularly in the Zambian context. The study illuminates both the potential and the challenges of integrating cryptocurrencies with mobile money services, providing a novel contribution to the existing body of knowledge.
 Methodology: Utilizing descriptive and inferential statistics, the study reveals a moderately strong positive correlation between cryptocurrency usage and both the volume and frequency of mobile money transactions. However, it also identifies significant barriers to adoption, including a lack of user awareness, security concerns, regulatory ambiguity, and the volatility of cryptocurrencies.
 Findings Through thematic, content, and comparative analysis, the study underscores the regulatory challenges, increased security risks, and the added burdens of compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations associated with the integration of cryptocurrencies. Moreover, the research identifies the potential disruption of existing mobile money systems by blockchain technology and the significant infrastructural investments and regulatory adaptation that it necessitates.
 Unique contribution to theory, policy and practice: The research proposes two strategies for aligning the regulatory frameworks for mobile money services and cryptocurrencies in Zambia: development of specific regulations or guidelines for cryptocurrencies that align with existing mobile money rules, and establishment of a separate regulatory framework that addresses the unique characteristics of cryptocurrencies. In highlighting the transformative potential of blockchain technology and the importance of user perspectives and regional variables in the integration process, the study offers valuable insights for researchers, policymakers, and practitioners. The research underscores the necessity for a responsive approach, continuous review, and update of regulatory frameworks, emphasizing consumer protection, market stability, and the promotion of innovation. While the research confirms the promising opportunities, cryptocurrencies offer to enhance mobile money services, it also emphasizes the need for careful consideration of potential adverse effects. Future research is encouraged to continue exploring this rapidly evolving field, broadening the geographical scope, and focusing on user education and robust security measures.

Usage of Cryptocurrencies as a Financial Instrument

Usage of Cryptocurrencies as a Financial Instrument

Examining Cryptocurrency Use among Muslim Affiliated Terrorists: Case Typology and Regulatory Challenges in Southeast Asian Countries

Many policymakers and scholars have discussed concerns regarding terrorist group use of cryptocurrency in recent years. While some argue that the threat is still limited, others argue that the current usage of cryptocurrency does not match the entirety of features that terrorist groups require and desire. In the end, it is still critical to recognize that the cryptocurrency used for terrorist financing frequently depends on several influencing factors. This study aims to (i) investigate the utilization of cryptocurrency by Moslem-affiliated terrorists in Southeast Asia; (ii) map the case typology of cryptocurrency use in Southeast Asian terrorist funding; (iii) describe the regulatory challenges raised in Southeast Asia. This research is a type of doctrinal legal one using the statute, case, and conceptual approaches. The results of this study acknowledge the limited but increasing risk of terrorist financing by cryptocurrency over the 2015-2022 timeframe in Southeast Asia. Furthermore, the existing typology of cases uses smurfing and structuring techniques with high and medium levels of risk. This research ends by recommending actions that Southeast Asian country stakeholders can take to reduce the potential of cryptocurrency usage in terrorist funding by harmonizing their counter-terrorist financing regulatory approaches and implementing investigative best practices.

The Effect of Countries' Independent Regulation on Cryptocurrency Markets

Cryptocurrencies have increasingly been traded against fiat currencies and as a result, governments globally have been trying to regulate these largely decentralized currencies. In this study, event study methodology has been used to evaluate the effect of regulatory announcements made by 25 countries. Based on cryptocurrency usage and returns of three major cryptocurrencies, namely Bitcoin, Ether, and XRP, this study finds that regulatory news results in significant abnormal returns for Bitcoin and Ether, but not for XRP. The authors find that irrespective of the type of news, abnormal returns are almost always negative. The countries have also been clustered based on their abnormal returns and it has been found that country characteristics such as income level, technological readiness and innovation potential affect the magnitude of abnormal returns. Thus, cryptocurrencies being global in essence, their regulatory oversight in countries do not exist in isolation, but they are also affected by the countries' development.