In a recent study published in the journal PLoS ONE , scientists examine the political, psychological, and social characteristics of individuals who buy and trade cryptocurrencies. Study: The political, psychological, and social correlates of cryptocurrency ownership . Image Credit: Arsenii Palivoda / Shutterstock.
com Cryptocurrency is a type of digital currency secured by cryptography. Unlike traditional currencies like the United States dollar (USD) and Euro, which are issued by governments, cryptocurrencies are often decentralized, which has created challenges for governments and regulatory bodies interested in regulating these transactions. Cryptocurrency relies on blockchain technology to record all transactions, keeping these exchanges anonymous.
However, its anonymity and irreversible nature pose significant security risks, as exchanges and wallets are easy targets for criminals participating in financial scams and terrorist attacks. Despite these challenges that have prevented the widespread adoption of cryptocurrency, millions of individuals throughout the world have invested in this technology, with cryptocurrency assets worth a collective value of over USD 3 trillion in 2021. Thus, the increasing tendency of people to invest in these technologies and, consequently, engage in risky financial behaviors emphasizes the importance of investigating the associations between cryptocurrency ownership and individual political, social, and psychological characteristics.
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