AN ANALYSIS OF CRYPTOCURRENCY USERS’ CONFIDENCE

Abstract

Cryptocurrency is a digital form of money, instead of physical notes and coins. Cryptocurrencies are data stored through digital codes and accessed through various applications and software. Cryptocurrency is the most common name for blackchain-based money but it can also be called Digital money, Digital coins or Virtual money, took the world by lighting storm in 2017. Cryptocurrency is not only about money- it is about technology, sociology, business and innovation. In 2017, according to Business Insider, new companies raised more than $3.5 billion in initial coin offerings. As of January 2018, about 1400 Cryptocurrencies were trading hands and they continue to proliferate, raising money through initial coin offerings. This paper explores the users’ confidence of dealing with cryptocurrency in a time that using such virtual money is not fully controlled and regulated.