Public Health perspectives on Cryptocurrency: The Good, The Bad and The Ugly
Keywords:Public Health, Cryptocurrency
Digital currencies like bitcoin utilize encryption to secure financial transactions, verify their legitimacy, and limit supply. Because there is no central authority over it, like a government or bank, we say that it is decentralized. Instead, cryptocurrency transactions are recorded on a public digital ledger called a blockchain, which serves as a decentralized database that records all transactions made with the currency.(1) The use of cryptography ensures that the transactions are secure and anonymous, making it difficult to counterfeit or double-spend the currency. On online exchanges, cryptocurrencies can be purchased and traded, and they can also be used to purchase products and services online.(2)
There are risks and hurdles associated with cryptocurrencies, including as their volatility, regulatory ambiguity, and security concerns, even though they have the potential to revolutionize the way we think about money and banking. As with any investment or financial decision, it is important to do your research and consult with experts before investing in cryptocurrencies. There are many different types of cryptocurrencies, with new ones being created regularly.(1) Here are some of the most common types:
Johnson B, Co S, Sun T, Lim CCW, Stjepanovi? D, Leung J, et al. Cryptocurrency trading and its associations with gambling and mental health: A scoping review. Addict Behav. 2023;136:107504.
The psychology of cryptocurrency trading: Risk and protective factors - PubMed [Internet]. [cited 2023 Sep 24]. Available from: https://pubmed.ncbi.nlm.nih.gov/34152998/
Mills, D. J., & Nower, L. Preliminary findings on cryptocurrency trading among regular gamblers: A new risk for problem gambling?. Addictive behaviors. 2019;92:136–140.
Oksanen, A., Mantere, E., Vuorinen, I., & Savolainen, I. (2022). Gambling and online trading: emerging risks of real-time stock and cryptocurrency trading platforms. Public health, 2022;205:72–78
Bhattacharya S, Saleem SM, Singh A. Digital eye strain in the era of COVID-19 pandemic: An emerging public health threat. Indian J Ophthalmol. 2020;68(8):1709-1710.
Bhattacharya S, Saleem SM, Juyal R, Kaur R, Singh A. “Texting neck” or “iNeck pain” syndrome – An emerging public health threat: In the era of NEW NORMAL. J Prim Care Spec 2021;2:1-3.
Benjamin Johnson, Daniel Stjepanovi?, Janni Leung, Tianze Sun & Gary C. K. Chan. Cryptocurrency trading, mental health and addiction: a qualitative analysis of reddit discussions, Addiction Research & Theory. 2023;31(5):345-351
Cryptocurrency trading, mental health and addiction: a qualitative analysis of reddit discussions: Addiction Research & Theory: Vol 0, No 0 [Internet]. [cited 2023 Sep 24]. Available from: https://www.tandfonline.com/doi/abs/10.1080/16066359.2023.2174259?journalCode=iart20
Why people invest in bitcoin: Psychology of cryptocurrency [Internet]. [cited 2023 Sep 24]. Available from: https://www.cnbc.com/2021/01/23/why-people-invest-in-bitcoin.html
Cryptocurrency: Risk Or Opportunity? The Good, The Bad, & The Ugly [Internet]. [cited 2023 Sep 24]. Available from: https://www.forbes.com/sites/earlcarr/2021/12/30/cryptocurrency-risk-or-opportunity-the-good-the-bad--the-ugly/
Risks and Returns of Cryptocurrency | The Review of Financial Studies | Oxford Academic [Internet]. [cited 2023 Sep 24]. Available from: https://academic.oup.com/rfs/article/34/6/2689/5912024
How to Cite
Copyright (c) 2023 Vanisree Ramanathan, Shailesh Tripathi, Sudip Bhattacharya, Saurabh Varshney
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.