Cryptocurrencies as a form of payment in electronic commerce

Abstract

In recent years, a special type of electronic, i.e. digital currency, which is better known as cryptocurrency, has been developed. The increasing use of cryptocurrencies in the world leads to many new opportunities in the world of electronic commerce, and the formation of a completely new, decentralized payment system. Degree of adoption of cryptocurrencies on a global level varies from country to country. In some more developed countries, cryptocurrencies are slowly becoming a regular system for payment of goods and services, so most sites offer the possibility of paying in cryptocurrencies. In our country, that system has not been much developed yet and there are not many sellers who receive cryptocurrency as compensation for sold goods. The goals of this research study are to examine what opportunities cryptocurrency owners have for exchanging cryptocurrencies for traditional money, what opportunities for purchasing goods and services are available to cryptocurrency owners, and which cryptocurrencies are most widely used in the Republic of Serbia.

Keywords

• cryptocurrencies
• bitcoin
• ethereum
• crypto wallet
• republic of serbia