KnE Social Sciences
ISSN: 2518-668X
The latest conference proceedings on humanities, arts and social sciences.
Stablecoins for Transferring Value in the Cryptocurrency Market
Published date: Oct 15 2024
Journal Title: KnE Social Sciences
Issue title: 8th International Conference on Sustainability (8th ICoS): Sustainable Economics
Pages: 109–124
Authors:
Abstract:
Stablecoins have gained prominence as an effective means to mitigate the inherent volatility in the cryptocurrency markets by providing a stable and reliable medium for value preservation and transfer. This research paper investigates the attributes that render stablecoins a preferable vehicle for value retention and transaction within these markets. By employing a quantitative methodology, this study collected data through surveys, with a sample size of 714 individuals chosen via purposive sampling techniques. To analyze the data, both descriptive and inferential statistical methods were applied. The demographic profiles of the sample were summarized using descriptive statistics such as frequencies and percentages. For examining the relationships between demographic factors (such as gender, age, education, income, and place of residence) and the perceived efficacy of stablecoins, inferential techniques including Chi-square tests and logistic regression were utilized. The logistic regression analysis specifically assessed how these variables influenced the likelihood of participants favoring stablecoins for financial transactions. The results indicate that the preference for stablecoins as a means of holding or transferring value within the cryptocurrency domain in Thailand varies significantly across different demographic groups, specifically influenced by factors such as gender, education, income, and place of residence. These outcomes provide insightful implications concerning the demographic influences on the adoption and utilization of stablecoins in financial activities.
Keywords: stablecoin, holding, transferring, value, cryptocurrency market
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