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

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.

Cryptocurrencies, Tax Ignorance and Tax Noncompliance in Direct Taxation: Spanish Empirical Evidence

“…This exchange can generate income from movable capital in personal income tax, especially if profits are obtained from the difference between the value of the cryptocurrency at the time of acquiring it and the value at the time of exchange (Cipollini 2024). Finally, staking is an activity that involves participating in the validation of transactions and the security of a blockchain network by holding and blocking a certain number of cryptocurrencies in a digital wallet (Murugappan et al 2023;Riposo and Gupta 2024). In exchange for holding these locked cryptocurrencies, participants receive rewards in the form of new cryptocurrencies or interest (Murugappan et al 2023;Riposo and Gupta 2024).…”

“…Finally, staking is an activity that involves participating in the validation of transactions and the security of a blockchain network by holding and blocking a certain number of cryptocurrencies in a digital wallet (Murugappan et al 2023;Riposo and Gupta 2024). In exchange for holding these locked cryptocurrencies, participants receive rewards in the form of new cryptocurrencies or interest (Murugappan et al 2023;Riposo and Gupta 2024). In the context of personal income tax, income obtained through staking is considered income from movable capital and is subject to declaration.…”

Cryptocurrency Crime Risks Modeling: Environment, E-Commerce, and Cybersecurity Issue

“…It is based on complex encryption, providing anonymous users with the ability to send or receive digital (virtual) money directly to each other using digital wallets or digital exchanges [27]. Well-known brands, popular marketplaces, and leading payment systems actively use this digital payment method, and retail sellers in many countries adopt it [28]. The cryptocurrency world is evolving and has great potential to offer users comfortable services daily.…”