Investigating factors behind choosing a cryptocurrency

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

32 Scopus citations

Abstract

This paper aims to address two challenging questions: 'What are the bases on which online users choose to use and/or mine their cryptocurrency?' and 'Which factors strongly affect the coin's popularity and value?' We try to answer these two questions for eight chosen cryptocurrencies by conducting an online survey. Results obtained from the online survey indicate that more than half of the participants believe that the currency name and logo affect the choice of using and/or mining a cryptocurrency. Moreover, the majority of the participants stated the ease of mining, having strong, fun and large community along with anonymity, privacy, and the currency's value, popularity, potential and technology as advantages of the currencies they choose to use and/or mine. These results help in observing the people behavior and predicting how successful and promising a cryptocurrency might become in the future.

Original languageBritish English
Title of host publicationIEEM 2014 - 2014 IEEE International Conference on Industrial Engineering and Engineering Management
PublisherIEEE Computer Society
Pages1443-1447
Number of pages5
ISBN (Electronic)9781479964109
DOIs
StatePublished - 2014
Event2014 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2014 - Selangor, Malaysia
Duration: 9 Dec 201412 Dec 2014

Publication series

NameIEEE International Conference on Industrial Engineering and Engineering Management
Volume2015-January
ISSN (Print)2157-3611
ISSN (Electronic)2157-362X

Conference

Conference2014 IEEE International Conference on Industrial Engineering and Engineering Management, IEEM 2014
Country/TerritoryMalaysia
CitySelangor
Period9/12/1412/12/14

Keywords

  • Cryptocurrency
  • human factors
  • survey

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