Cryptocurrency and Buyer Behavior: A Contemporary Business Analysis

This essay provides a comprehensive analysis of the impact of cryptocurrency on buyer behavior within the contemporary business environment. It begins with an introduction to cryptocurrency as a new form of investment and discusses how it is attracting attention in the market, promising higher returns. The main body of the essay delves into the changing buyer behavior influenced by the dynamic forces in the business environment, including the benefits, challenges, and importance of cryptocurrency in business. It also examines the role of cryptocurrency in revolutionizing financial transactions, online payments, and supply chains. The essay further explores the future outlook of Bitcoin and its impact on investors, concluding with an overview of the current trends and future potential of cryptocurrency in the business landscape. The essay uses academic sources to support its findings and includes a conclusion summarizing the key points and implications for businesses and investors. The essay also provides a literature review on the subject and applies APA referencing.

Cryptocurrency is a new form of investment which is attracting the attention of various buyers in
the market. Therefore the investors are investing in it because it promises higher returns on the
investment within a short period of time. Therefore, it is quite important for the businesses that
they are able invest in it so that they are able to earn higher returns on their investment. Buyer
Behaviour is changing quite significantly because of the influence which is created by the
dynamic forces in the Business Environment which are creating an impact on the different types
of customers in the market.

Cryptocurrency and
Buyer Behaviour

Contents
INTRODUCTION...........................................................................................................................6
MAIN BODY...................................................................................................................................6
CONCLUSION..............................................................................................................................17
REFERENCES................................................................................................................................1

INTRODUCTION
The contemporary business is means about the belonging towards the same period of
time that having proper understanding as the business environment creates vast competitive
market as well as it keeps to changing at very fast pace of owner of such business that having
must eligible enough to develop better competitive market.
As per this essay report, in this different literature review are constructed within the
perspective of contempary issues of business as well as cryptocurrency role in business and how
their buyer behaviour react on it. Further more it defines about the benefits, challenges,
importance about cryptocurrency business where it tends to reflect as digital assets that desiged
to work as medium of exchange wherein individual role of ownership records are stored within
the ledger that having existing on form of computerised. The role of crypocurrency in business
that it changes the financial faces of business and even individual. The revolutionism within the
process to perform the transaction, invest or raise capital value. It is the replacing about the need
of physical money that effectively perform towards interests in bank towards highest interest
loan. Also discuss about the impact of Crypto currency on business which will grow consumer to
better adopt crypto. Due to Covid-19 enhance high tide of economic fall down in which
recession of extended as well as there was a fall of economic values of country.The regulation of
cryptocurrency which is virtual or digital currency which is secured for cryptography. This
regulation for cryptocurrency is to secure better financial transition as it make nearly possible.
As the regulation of Cryptocurrency in United Kingdom is adoption and innovation within
United Kingdom where it widely considered to be global leader. While digital currencies are not
yet banned across the country, they are still not considered to being tender. Therefore, a
surcharge is implacable on good and services which is obtained from in exchange for Bitcoin or
other similar cryptocurrencies. For example: if the investor occurs to profit or loss in relation
towards their crypto assets are subject to capital gain tax. Crypto UK which is self regulatory
trade association where they measure the UK’s existing industry standards.
MAIN BODY
To understand the concept of Contemporary Business.
As per the view point of OsmandVitez, 2021, a contemporary business is defined form as
a traditional business form which includes a combination of up-to-date knowledge and

processes. Though the real business formation is exactly same as it has been since generations
but the difference is made through its procedure. A contemporary corporation will make the
usage of certain strategic alliances, virtual offices and corporate social responsibility to its
benefit.There are some five important ways on which contemporary business is fluctuates
through cryptocurrency. As cryptocurrency is not new creation before there was Bitcoin which
created ad it has its own impact on world’s economy. Cryptocurrency has done through this
changing the way various industries to operate new opportunities for individuals and business
alike. The creation of cryptocurrency is also tend to introduced where blockchain technology
toward world. a) Alternative International finance transaction: Business are always very keen
to srcutinise their way for flexible outcomes towards accomplishing better transaction for most
secure way possible. Cryptocurrency based solution like ripple which can help it effectively. In
this platform it enables the seamless transfer of cryptocurrencies like Bitcoin and Litecoin. b)
More option for online payment : Cryptocurrencies and blockchain technology which can make
it easier for people to make online payments. Blockchain about wallet with store private and
public with key enables payments that made securely. Many sites in various industries to accept
cryptocurrencies a safe way for people to send deposit money. c)Revolutionizing supply chain:
Through better economy globally is reliant on secure about efficient supply chain This makes
supply chain security a major concern. The blockchain technology which having presence on
using cryptocurrency can also be assorted improve security of supply chain tanks it transparency
within decentralized nature.
Strategic alliances occur when two or more companies gather together in order to acheive goals
and produce particular products. There are various types of strategic alliances which are
available to a contemporary business. These involve contract, strategy, partner and certain
operational alliances. Each option allows the companies to build up their individual operations
by assembling resources together. In most cases, corporations look to make strategic associations
with other businesses that provides more technology or resources than they have on their own.
The aspect of contemporary business is Virtual offices. Through this use of technology, a
corporation no longer has to have a physical location in which all employees work in one place.
Businesses use computers and other techniques that allow employees to gather in virtual rooms
in order to complete all tasks and activities. In some cases, corporations can have many
international as well as regional locations that make use of virtual offices. This also works well

with strategic alliances or using individuals with particular qualities from different areas to
complete operations.
The eventual objective of a contemporary business is synergy, where all aspects of the traditional
business come together. The use of knowledge and up to date tools often improves a business
and gives it a competitive advantage over others in the business environment. If a business uses
too much technology or use of certain alliances then it is problematic for them. For one,
technology may be unreliable and disposed to to breakage. An association needs a company to
give up part of its knowledge to another business, decreasing its competitive advantage.
To examine about the benefits of cryptocurrency in business.
According to the Audrey Conklin, 2020. The benefit of cryptocurrency are many option which is
propounded as one statement that “Cryptocurrency is not just a financial instrument, because it is

tend to be technology.” Any further benefits where it usually offers about only possible because
towards better strength off the technology that underpins. Cryptocurrency is not commence role
through middle man, as the transciation is very easier manner to use and faster enough to tranfer
money one party to another. In that particular through cryptocurrency there is no additional
charges implies. In each cryptocurrency transaction where it is having unique exchange between
two parties, this helps to protect user from issues likely identified theft. On the global scale more
people are to used internet for online payments and other use to exchange their currency value
system. As cryptocurrency open the opportunity in which people are privilege people to establish
credit crypto that could be key of eradicating global poverty and corruption for one of reason. In
current situation cryptocurrency is happens usually by investors or business personalities. The
currency become the interest when world witnessed the sudden rise and there is uncertainty of
falling value of currency that bitcoin use in between 2017 and 2019. It sparked interest and
education. Now, cryptocurrency is becoming more a part of the everyday that people use to
realise. The image of cryptocurrency is reflect the money through better digital age. It leverages
about the technologies in such a way that it able to integrate work on digital ecosystem. It is
native system of internet which allows the work with technologies.
The future of Cryptocurrency in 2019 and beyond-
As per the views of Adam Barone, A cryptocurrency is a digital currency that is created
and managed through the use of advanced encryption techniques which are known as
Cryptography. Therefore one of the famous Cryptocurrencies is Bitcoin which has got famous all
over the world. Thus, it can be said that through the use of these cryptocurrencies the people in
the world can invest their money and can earn higher-level of returns on it in the right manner
which will be quite helpful for them in ensuring that they are able to ensure that the reasonable
returns can be earned on the different types of currencies in the right manner(Akyildirimand
et.al., 2020).
As per the predictions of different Business analysts there will be a big change in crypto
with the entry of institutional money in the market. This is so because an increase in the
institutional investment in the cryptocurrency will be quite helpful in ensuring that the
management of the currencies in the world can be carried out in a right manner effectively and
efficiently. In this way, it can be said that through the use of Cryptocurrency the institutions will

be able to make sure that they are able to work in a proper manner and are able to attain their
goals and objectives related to investments(Borri, 2019).
Bitcoin is a decentralized currency which makes the use of peer-to-peer technology
through which the functions like currency issuance, transaction processing and verification to be
carried out collectively by the network(Bouri, Shahzad and Roubaud, 2019). This has made
Bitcoin so much popular among the people all over the world which has also ensured that the
people who are investing in it are able to get a right return on their investment effectively and
efficiently which will enable them to be able to make sure that they can attain their wide range of
goals and objectives related with investment in a smooth manner(Bratspies, 2018).
There are many characteristics of Bitcoin which makes it fundamentally different from a
fiat currency which is backed by the full faith and credit of the government(Chuen, Guo and
Wang, 2017). Fiat currency is a government-issued currency which is not backed by a
commodity like gold. It provides Central Bank with a higher-level of control over the economy
because it can control the money which is being printed. It is therefore useful in ensuring that the
Government is able to keep a tighter control and regulation in a better manner on the economy
and thus helps in maintaining a desired level of balance in the market. Therefore, In this way it
can be said that through the use of Bitcoin the investors have earned higher-level of profit and
this has thus ensured that the investors are able to earn a substantial amount of profit on the
investment which has been made by them in this cryptocurrency. Thus, In this way it can be said
that through the investment in Bitcoin many investors all around the world are able to earn the
right amount of profit which has enabled them to earn a higher rate of return quite
effectively and efficiently in a proper manner.
The future outlook of Bitcoin looks quite bright as the value of this cryptocurrency is
only likely to increase in the future in the right manner which will enable the investors to be able
to earn higher-level of profit by investing in it(Cocco, Concas and Marches, 2017). Therefore, In
this way it can be said that for the different types of investors it is quite important that they are
able to realise the value of investing in a Bitcoin which will be helpful in ensuring that higher-
level of return can be expected by them effectively and efficiently in the right manner on their
investments which have been made by them(Wątorekand et.al., 2020).
However, despite the popularity of Bitcoin as a choice of investment in cryptocurrency
there is also an increase in the scrutiny about it. This is so because it is being used illegally by

certain people and therefore this will create an impact on its market value. Thus, In this way it
can be said that the scrutiny about Bitcoin will definitely create an impact on the mindset of
certain investors as they will have to thoroughly assess its usefulness before investing their
money in it(Conrad, Custovic and Ghysels, 2018).
However, In the future the cryptocurrencies like Bitcoin will become a preferred choice
of investment among the different types of investors particularly due to the higher rate of return
which is offered by them on the investment(Eyal, 2017). Therefore, in this way it can be said that
the use of Bitcoin in the future is highly recommended for those investors who want higher-level
of returns in a short-period of time effectively and efficiently in the right manner(Gandal and
Halaburda, 2016).
Therefore, it can be said that for the Businesses, Bitcoin offers a decent option for the
purpose of making an investment as by investing in it the businesses will be able to make sure
that they are able to earn significant returns which will thus help them in maximizing the
potential of their investment(Guerraouiand et.al., 2019).
The 10 Most Important Cryptocurrencies Other Than Bitcoin-
According to Luke Conway, there are 10 most important cryptocurrencies other than
Bitcoin in which the investment can be done and therefore higher-level of returns can be
expected. Thus, the 10 most important cryptocurrencies other than Bitcoin are as follows-
Ethereum (ETH) - It is a decentralized software platform which enables Smart Contacts
and Decentralized Applications to be built and run without any downtime, fraud, control or
interference from a third party(Halaburda and Gandal, 2016). Therefore, In this way it facilitates
investment from different types of investors in the market and enables them to be able to make
sure that they are able to use it in the right manner which will thus help in ensuring that the
people are able to make its use in a proper manner and thus can make sure that they can earn
higher-level of profits from it.
Litecoin (LTC) - Litecoin was launched in the year 2011 and it was the first
cryptocurrencies to follow in the footsteps of Bitcoin and has been referred to as “silver to
Bitcoin’s gold”. Therefore, in this way it can be said that it was launched in order to ensure that
the people are able to earn higher-level of returns on investments(Yousaf, Kappos and
Meiklejohn, 2019).

Cardano (ADA) - It is a cryptocurrency which was created by engineers, mathematicians
and cryptography experts through making the use of a research-based approach. Thus, in this
way this currency has become a preferred choice of investment among the different types of
investors which has allowed them to be able to make sure that their money can earn substantial
amount of return effectively and efficiently(Harwick, 2016).
Polkadot (DOT) - It is a cryptocurrency in which the core component is the relay chain
which allows the interoperability of the varying networks. Therefore, in this way it allows the
investors with a better option of investing their money which helps in ensuring that they are able
to earn a substantial return on their investment effectively and efficiently(Harz and et.al., 2019).
Bitcoin Cash (BCH) - It was created as a result of a split in Bitcoin and therefore offers
the investors with an option of investing money and earning a substantial return on their
investment effectively and efficiently in the future. Therefore, it has created its own value in the
market among the different types of investors which has ensured that the different types of
investors invest their money in it(Hughes, 2017).
Stellar (XLM) - It is a cryptocurrency which has positioned itself as an enterprise
blockchain for institutional transactions but it is still an open blockchain which can be used by
anyone. Thus, in this way it can be said that it offers a required level of flexibility to its different
types of investors which is quite helpful in ensuring that the investors are able to invest in it and
earn substantial rate of return easily(Zhang and et.al., 2018).
Chainlink- It is a cryptocurrency which is a decentralized oracle network and bridges the
gap between smart contracts like Ethereum and the data which is outside it. Therefore, in this
way it can be said that the investment in this currency will be quite helpful in ensuring that the
people are able to make sure that they are able to effectively and efficiently earn a higher-rate of
return on their investment which will thus help them to attain the goals and objectives in the
future.
Binance Coin (BNB) - It is a utility cryptocurrency which operates as a payment method
for the fees which is associated with the trading which is done on the Binance Exchange.
Therefore, in this way it offers the investors an attractive opportunity through which they are
able to make sure that they can invest in a proper manner in the opportunity which they get
which will be quite helpful in ensuring that the right returns on the investment can be attained
effectively and efficiently in the future by the investors(Ji and et.al., 2019).

Tether (USDT) - It is a cryptocurrency in the group of so-called stablecoins,
cryptocurrencies which aim to peg their market value to a currency or other external reference
point so that the volatility can be reduced. Thus, In this way it has become quite an attractive
option for the different types of investors in which they can invest their money and can hope to
earn higher-level of returns on the amount of money which has been invested by them in it so
that the attainment of the investment goals and objectives in the future can be done and thus the
investors are able to earn a substantially higher rate of return on their investments quite
effectively and efficiently(Zhang and et.al., 2019).
Monero(XMR) - It is a cryptocurrency which is open-source. Therefore, this helps in
attracting the attention of the potential investors in it which is therefore quite helpful in ensuring
that the investors are able to invest in it and earn potentially higher rate of returns in a highly
effective manner.
Therefore, it can be said that all of the above-mentioned cryptocurrencies offer the
Businesses an option where they can invest their surplus funds and can make sure that the
investment is done in such a manner so that the funds which are invested in the cryptocurrencies
are able to earn a decent rate of return effectively and efficiently which will be helpful in
ensuring that the attainment of the future goals and objectives can be carried out in the right
manner.
Importance of cryptocurrencies- Crytocurrencies have become quite important in the
market because they offer their investors with a higher-value on the investment which has been
made by them. Therefore, In this manner it can be said that with the use of Cryptocurrencies the
investors can make sure that they are able to earn more profits. They are also important because
they are able to guarantee the investors a higher-level of return on their investment which helps
them to be able to make sure that they can attain different types of goals and objectives
effectively and efficiently.
Reasons for investing in Bitcoin-
Bitcoin has become one of the most popular Crytocurrencies in the world. Therefore, it is
important that the assessment of the importance of investing in Bitcoin is made by the
Businesses which will help them a lot to be able to ensure that they are able to earn a substantial
rate of return on their investments effectively and efficiently. Thus, it has become quite
important for the management of the Businesses that they are able to assess the importance of

investing in Bitcoin which will be quite helpful in ensuring that the attainment of the future goals
and objectives can be carried out in a proper manner(Konothand et.al., 2018).The main
importance of investment in Bitcoin for the Businesses is that through such an investment
higher-level of profits can be earned and thus the suitable return on investments can be managed
which will be quite helpful for the customers in ensuring that the attainment of the future goals
and objectives can be carried out effectively and efficiently.There are different types of reasons
due to which investment in Bitcoin can be considered. These reasons are explained as follows-
Adoption of Bitcoin for practical applications- The use of Bitcoin is being made by the
Businesses in a proper manner by ensuring that they are able to use it as their primary currency.
Therefore, In this manner it can be said that it is helpful for the Businesses to be able to ensure
that they can earn significant rate of returns by investing in it which will thus help in ensuring
that the attainment of the particular goals and objectives in the future related to investment can
be done(Krafft, Della Penna and Pentland, 2018).
Learning about investing is free- Learning about making investment in Bitcoin is free
which makes it very much useful for the Businesses. Thus, it can be said that the managers of the
Businesses can make sure that they can learn about the way investment in Bitcoin can be done
which will be quite helpful in ensuring that the right return can be earned on the investments
which will help a lot in attaining the particular goals and objectives in the future(Kyriazis, 2019).
Increase in the Prices- It is important for the buyers to invest in Bitcoin because its
prices are increasing substantially in the market. Therefore, in this way it can be said that the
increase in the level of prices is helping a lot in ensuring that the buyers are able to attain their
particular goals and objectives in the future.Thus, in this way it can be said that it becomes an
important reason due to which the Businesses must consider about making an investment in
Bitcoin(Lahmiri and Bekiros, 2019).
Bitcoin’s authority- The Bitcoin has managed to create a particular authority for itself in
the market. Thus, in this way it can be said that it is one of the most popular cryptocurrencies in
the world(Liu and Tsyvinski, 2018). Due to this reason, it can be recommended to the
management of the businesses that they are able to invest in Bitcoin and therefore earn higher-
level of returns on the investment.The reason behind this is that Bitcoin has substantial
popularity in the market which the other cryptocurrencies do not have which makes it highly
popular among the investors for the purpose of doing their investments. The reason behind this is