Literature review of conscious consumer behavior in the world of cryptocurrency


Financial sustainability is one of the most predominant factors, that has played a significant role in controlling the socio-economic and socio-political paradigms of the world since all social and political factors are explicitly related to the economy. Hence, it is given special significance, which is demonstrated by the incorporation of new models, and the adoption of new strategies to attain economic sustainability. One such strategy is the deployment of technology in finance, which has introduced new modes of payment, primarily called digital currency. The digital currency, principally cryptocurrency has changed the complete dynamics of the economy, completely revolutionizing the world of currency. Cryptocurrency is different from fiat currency in that that it is not regulated by any third party or intermediary in the form of banks or other financial institutions. But yet, it offers increased transparency, privacy, protection, and regulation of the financial system though it might be vulnerable to some breaches. Hence, in this paper, we will evaluate the various parameters of cryptocurrency, including its implications, advantages, disadvantages, and others, and how these facets affect consumer behavior. The research method incorporates a structured questionnaire, and a desk survey, which has provided a detailed insight into the conscious consumer behavior in the world of cryptocurrency, by evaluating the preferences and perspectives of 109 respondents. Hence, the research will be highly significant for economists and investors, giving them an insight into the various paradigms and trends of the cryptocurrency market, by an evaluation of the interest of consumers in the market.

X. ÉVF. 2022. Különszám 31-37

DOI: 10.24387/CI.2022.SI.6


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