Investing in cryptocurrency 2020 pdf

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Investing in cryptocurrency 2020 pdf

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Content:

• What Is Bitcoin And How Does It Work?
• Cookie Policy
• Axis Bank Ltd.
• What Is Cryptocurrency? Here’s What You Should Know
• A carbon-free future for all
• CME Ether Futures: How Is the Contract Designed?
• India to adopt digital rupee and slap a 30 per cent tax on cryptocurrency income
• The SEC’s Regulatory Role in the Digital Asset Markets
• How Banks Can Succeed with Cryptocurrency

WATCH RELATED VIDEO: 5 Top Crypto to Buy NOW in 2022 (Massive Potential!)

What Is Bitcoin And How Does It Work?

By sampling factors of individual investors related with crypto-currency CC , the study applies structural equation modeling method SEM to investigate their effects on switching intention by integrating PPM and Reinforcement Sensitivity theories RST to form a pulling, pushing and mooring effects model. The investigation indicates that crypto-currency market can be regarded as a kind of beneficial supplement of tradition investment market for those individual investors who are with high innovativeness, reward sensitivity, knowledge and perceived risk.

This study proves that the individual investors are not only attracted by significant expected return from crypto-currency but also relevant knowledge and risks disclosed by crypto-currency market regulators and distributors. The findings reinforce major roles for both market regulators and individual investors in considering and providing insights for future policy, management and investigations.

This is an open access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Data Availability: All relevant data are within the paper and its Supporting Information files. Competing interests: The authors have declared that no competing interests exist. Crypto-currencies CC are rapidly gaining more and more interest as a technology that is potentially ground breaking and disruptive for the whole payments industry on a global scale. The two largest economic entities, the United States and China have declared to develop their own crypto-currencies.

Crypto-currency is a speculative financial asset with expected return, risk and volatility as well as ordinary currencies. Furthermore, current researches on the crypto-currencies mostly focus on the expected return, volatility and risk, ignoring the behavior perspectives in crypto-currencies among individual investors [ 1 ].

Usually, in order to pursue capital maintenance, more winning or permanent income, most individual investors have to give their own fortune to private bank, trust, and insurance companies etc.

In fact, since trade barriers between great powers are pulling out of global economy recession, it is getting harder for individual investors to find better investment opportunities until the crypto-currency appears. Some crypto-currency companies have also actively used sophisticated marketing, social network service and mass media as publicity tools to strengthen promotion [ 17 ], which lead to the increasing global influence of virtual currencies.

Therefore, it is necessary to apply proper theories about the investment behavior to find what factors affect those behaviors and give some instructions on how to deal with CC for individual investors.

Push-pull-mooring PPM hereafter theory includes three important factors. The first one is pushing-effect, which indicates the factor that drives individual investors away from traditional financial market to CC investment market in describing the possibility of low return and high loss [ 6 ].

Pull effect is the second one, which attracts individual investors to adopt CC as a useful investment tool. Previous articles of the relationship between switching intention and PPM theory are plenty, including online shopping behavior [ 8 ], security adoption [ 9 ], as well as many other research fields [ 6 , 10 ]. We have reviewed crypto-currency researches at different levels of analysis. Most previous researches have applied different theories equally well at financial market, management and organizational levels of analysis, and in those case there were sufficient data and cases to prove the importance of crypto-currency.

Some of the old dimensions in those previous researches may no longer be relevant or need to be measured differently for individual investment progress. Table 1 shows the summary of some leading crypto-currency researches using varieties of methodologies in investment or portfolio management content, which shows that crypto-currency has revealed in many ways in financial research fields.

Risk factor has been applied in variety research fields to explain different uncertainties, including cultural difference, economic, purchase behavior, personal privacy, situation and functional risk [ 25 — 30 ]. As more and more studies indicate that push effects usually can be representing a certain degree of negative effect, such as loss in money or time, privacy stealing, and price fluctuation that may lead to unsatisfying payback and loss of principal, this research try to use perceived risk to explain how CC could be a new investment choice.

On one hand, since institutional investment dominates traditional financial markets, it is risky and difficult for individual investors to conveniently find suitable investment products in traditional financial market, and it may cost too much to get satisfying expected return as well. Therefore, perceived risk can be used to describe the potential loss in pursuit of wealth or return on traditional financial market in order to drive individual investors away from traditional financial market.

Perceived risk could make individual investors unsatisfied with traditional financial market. Some individual investors prefer to invest in CC to get more profits or seek a fair competition circumstances, because some individual investors may think that traditional financial markets have been monopolized by investment institutions.

No matter how easy to invest in traditional financial market, due to yearning for new investment opportunities, most of the individual investors may intend to try in CC market.

Individual investors can find plenty of information before making their choice. By the way, since it is hard to compare the perceived risk of investing in traditional financial market with others, people may prefer to have a try in new market for better return. Therefore, this research would like to propose that:.

RST is an outstanding and helpful explanation about human behavior in motivation, learning and emotion [ 32 , 33 ]. Corr [ 34 ] used reward sensitivity to indicate that humans are sensitive and active in their daily life with different motivations, which may indicate intention for thoughts or behaviors that offer happiness.

Avila et al. Meanwhile, it can empower switching behavior based some advantages about CC indicating that individual investors are going to achieve more returns or rewards by having positive thoughts with inclining to choosing CC as an investment target.

Therefore, it can enhance switching to adopt CC to find investment opportunity. In this research, the knowledge could be taken on as some perception about what individual investors have about CC as an investing option and related techniques, attributes and underlying features. Previous researches have proved that knowledge played an important role in different situation on adoptions, including adoptions of new technology and product [ 9 , 39 , 40 ].

No individual investors would like to try in CC markets until they feel they have enough knowledge about new things [ 41 , 42 ]. If individual investors get enough information, skills, instruction, positive and negative news and are ware of advantages and benefits of CC, they may prepare themselves for switching to CC investment with more confidence.

Rogers [ 43 ] defines personal innovativeness as the degree that individuals are relatively earlier to adopt new ideas than other social system members. Personal innovativeness has been proved to be an effective factor in different research areas. Lee et al. Individual investors comparatively possess more intention to adopt new technologies because they are rarely restricted by rules, regulations and ordinations as institutional investors are.

The collaboration with individual investors across different backgrounds leads to more creativity by the innovation progress. Moreover, individual investors can hold more positive aspect with regard to innovation features of same optional conditions through the combination of creative technology, highly expected reward and relatively low perceived risk.

When individual investors possess higher personal innovativeness, not only their switching intention to CC will increase, but also the acceptance of the related pushing and pulling factors will increase higher. In other words, when individual investors would like to be more innovative, the pushing and pulling variables will be more important to the development of switching intention to CC.

It was necessary to survey individual investors that have investment experience in CC and are also familiar with it. All participants should agree a disclaimer before taking part in the survey.

The disclaimer is 1 I volunteered to take part in this anonymous survey. Therefore, all participants are voluntarily and anonymously to join in this survey. We collected data from members of several investment clubs in South Korea and China. The reasons are explained as follows: 1 Most of them are middle class and private bank customers of multinational financial institutions who also invest by themselves. The pretest respondents were asked to give advice to improve the quality of the survey overall, and the final survey questionnaire was updated according to their suggestions [ 47 ].

With help of peers of those financial institutions, we delivered online questionnaires among individual investors who have invested in CC. The questionnaires were distributed among people from January 20 to February 9, Excluding questionnaires incompletely or carelessly answered, responded questionnaires were used for data analysis.

The perceived risk construct was measured using three items. A 7-point Likert scale test was applied in the survey. The reward sensitivity construct was measured using three items. The knowledge construct was measured using three items. The personal innovativeness construct was measured using three items. The switching intention construct was measured using three items. The structural equation model SEM is a statistical method for analyzing the relationship between variables based on the covariance matrix of variables.

It is an important tool for multivariate data analysis. It is a combination of multiple statistical analysis methods that can simultaneously test factors, analysis items and relationships between errors. PLS partial least squares analysis is an appropriate method to be applied in the related analysis of this study because it can easily test the moderating effects in a relatively small data samples.

Therefore, PLS has been used in many different research fields including social network service, e-commerce, business administration and investment [ 47 ]. PLS-SEM analysis also includes varieties of estimations such as reliability, validity, R square, path estimates and t-values to assess our research model as well as measurements. Among the participants, were men Most of them are well educated professionals with high income.

Table 2 shows the respondents of demographics. AVE reflects how much of the variation explained by each latent variable comes from all the items in the latent variable. When the AVE value is above 0. The analysis progress is standard and results are consistent with previous researches [ 48 , 49 , 50 ]. Composite reliabilities are also above the recommended threshold value of 0.

AVEs are above the recommended threshold value of 0. Discriminant validity is used to test if a construct is distinct with each other. It is examined by comparing the square roots of average variance extracted with the coefficient of correlations between constructs.

When the positive square roots of average variance extracted values are greater than the coefficient of correlations between constructs, discriminant validity exists. The analysis progress is standard and results are consistent with previous researches [ 51 , 52 , 53 ].

The two tests together prove the discriminant validity exists in this research. Therefore, all related tests have proved that the model is reliable and valid for evaluating the structural model. Path analysis for the research model predicting on the whole data is shown in Table 6. Fig 2 shows standardized path coefficients and corresponding t-values. In conjunction with the degrees of freedom, t-value is used to calculate the corresponding significance of p value. The larger t-value is, the smaller the corresponding p value is.

And 0. In Table 5 , t-statistics confirmed that all paths except one were highly significant. The analysis progress is standard and results are consistent with previous researches [ 54 — 57 ]. Personal innovativeness, perceived risk knowledge and reward sensitivity proves to have positive effect on switching intention to CC. Personal innovativeness proves to have positive moderating effects on relationships between perceived risk reward sensitivity and switching intention, and proves to have no moderating relationship between knowledge and switching intention.

Specially, perceived risk 0. Fig 2 indicates PLS analysis results, by testing the estimates and R 2 , whereas Table 5 shows details of hypotheses testing results of estimates and t-values. Interestingly, personal innovativeness plays the most important role in the research model. The reason could be due to that most of the individual investors of CC are well educated middle class with plenty of investment experience, which makes them ambitious to attempt to new investment objects for better return.

Cookie Policy

We believe that cryptocurrencies have evolved into a viable investment asset. Short-term factors suggest further deepening of the market. We believe long-term supply and demand trends support further industry growth, the potential for further compression in price volatility, and a possible role as portfolio diversifiers. Several crucial events in drew increased mainstream usage in transactions and accelerated the maturation of cryptocurrency markets. First, banks received regulatory permission to custody cryptocurrencies, and the investment industry and regulators took additional steps to extend a legal and oversight framework that should help solidify cryptocurrencies as investable assets. The coronavirus pandemic also played a role by fast-tracking the digital economy, as the return to near-zero interest rates sparked inflation fears and interest in alternative payment systems.

Axis Bank Ltd.

Magellan and Platinum have very different responses to the current market volatility, with one avoiding the stocks that the other loves. An early interest rate increase would accelerate the slowdown in the housing market and trigger house price declines by the end of the year, experts say. In your inbox every night, Sunday to Thursday. Sign up for the newsletter. Interest rates could plausibly lift off later this year if the economy continues to outperform expectations, RBA governor Philip Lowe has conceded, but he repudiated markets pricing four rate hikes in Shares extended their gains and bond yields eased after the RBA governor framed as the central rate hike scenario, although was possible, he conceded. Now, it trades at the largest discount to its big four peers in history. National transport operator SCT has sidelined staff after the closure of the east-west rail line, as supermarkets in WA limit how much people can buy.

What Is Cryptocurrency? Here’s What You Should Know

The Ether products take the form of futures contracts and share many similarities with the Bitcoin futures products also listed by CME. In the first month of trading alone February , the traded volume surpassed 11, contracts. Since then, volume has steadily increased, with over , contracts traded during the month of September The growing acceptance of crypto-assets and the increased prominence of exchange-traded crypto-products are trends indicative of a general maturing of crypto trading markets.

A carbon-free future for all

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CME Ether Futures: How Is the Contract Designed?

See Historical Trend. Stock with good financial performance alongside good to expensive valuation. Strong Performer Stock with good financial performance alongside good to expensive valuation. Note : Support and Resistance level for the day, calculated based on price range of the previous trading day. Note : Support and Resistance level for the week, calculated based on price range of the previous trading week.

India to adopt digital rupee and slap a 30 per cent tax on cryptocurrency income

Date : 27 January Date : 11 January As of 31 January

The SEC’s Regulatory Role in the Digital Asset Markets

RELATED VIDEO: How To Make Money With Coinbase in 2022 (Beginners Guide)

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How Banks Can Succeed with Cryptocurrency

Comments on these FAQs may be submitted electronically via email to Notice. Comments irscounsel. All comments submitted by the public will be available for public inspection and copying in their entirety. Note: Except as otherwise noted, these FAQs apply only to taxpayers who hold virtual currency as a capital asset. For more information on the definition of a capital asset, examples of what is and is not a capital asset, and the tax treatment of property transactions generally, see Publication , Sales and Other Dispositions of Assets. Virtual currency is a digital representation of value, other than a representation of the U. Some virtual currencies are convertible, which means that they have an equivalent value in real currency or act as a substitute for real currency.

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