With ownership estimates of up to 25%, Turkey is at the forefront of cryptocurrency adoption rendering it an interesting example to study the proclaimed use cases of cryptocurrencies. Using exploratory factor analysis based on a sample of 745 Turkish cryptocurrency owners, we identify three...

Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- Preface -- Figures and tables -- 1. Introducing blockchain -- 1.1 A transaction -- 1.2 Key characteristics -- 1.3 Categories -- 2. Blockchain's basic components -- 2.1 Technical components -- Peer-to-peer networks --...

Cryptocurrency markets are often deemed inefficient. This paper explores how the market reacts to a specific form of public information: large Bitcoin transactions. The event study examines the price effects of 2,132 transactions involving at least 500 Bitcoins over the period September 2018 to...

Cryptocurrencies such as Bitcoin are a high-risk asset class where very high returns are offset by large losses. In a nationally representative online survey of 3,864 German citizens, 354 (9.2%) reported owning cryptocurrencies in March 2019. We analyze a subpopulation of 225 cryptocurrency...

This study explores the determinants of initial coin offering (ICO) success, where success is defined as the amount of capital a project could raise. ICOs are a tool for startups in the blockchain ecosystem to raise early capital with relative ease. The market for ICOs has grown at a rapid pace...

Stablecoins are digital currencies whose value is pegged to fiat currencies like the dollar or other assets. They were created as a more flexible alternative to fiat currencies for cryptocurrency exchanges and constitute an increasingly important aspect of cryptocurrency markets and alternative...