Investigating factors behind choosing a cryptocurrency

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 cryptoc...

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Bibliographic Details
Main Authors: Al Shehhi, Aamna, Oudah, Mayada, Aung, Zeyar
Format: Conference Proceeding
Language:English
Subjects:
Communities
Cryptocurrency
Cryptography
human factors
Internet
Online banking
Privacy
Sociology
Statistics
survey
Citations: Items that cite this one
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Summary: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.
ISSN:2157-3611
2157-362X
DOI:10.1109/IEEM.2014.7058877