Cryptocurrency: Investor's Perception

Abstract

The popularity of cryptocurrencies has increased dramatically on a global scale since the introduction of Bitcoin in 2008. Recently, more individuals have come to realize that Bitcoin is a better alternative asset. Even institutional investors are shifting their assets to Bitcoin to

protect their money from inflation. Since the start of the COVID-19 epidemic in January 2020, this industry has seen tremendous increases, with the "crypto market" rising by more than 500%. Coins, paper money, credit cards, and digital wallets like PayPal, Apple Pay, Amazon Pay, Paytm, and others are examples of modern cash. Governments and banks oversee everything, so there is a single regulatory body that sets restrictions on the use of credit cards and paper money.

A digital or virtual currency intended to be used as a medium of exchange is called a cryptocurrency. It resembles real money quite a bit, with the exception that it is digital and relies on encryption to function. Hence, cryptocurrency eliminates every issue with contemporary banking, including no transaction restrictions, unhackable accounts, and a single point of failure. New units can only be added once specific requirements are satisfied because cryptocurrencies function autonomously and decentralised, without the need for a bank or other central authority.