After the extraordinary rise of the Bitcoin value in 2017 cryptocurrencies rose in their
popularity and gained additional media attention. An increasing number of people were
interested in investing in this relatively new asset class. But what is the rational for buying
cryptocurrencies? Do people want to make quick cash? Could cryptocurrencies replace our
centralised central bank based monetary system? These questions led to the decision to study
the factors that drive the demand for cryptocurrencies. This paper gives a systematic
introduction to the Blockchain technology the underlying technology for the majority of
cryptocurrencies. By analysing a questionnaire this paper studies the influence of economic
financial and psychological factors on the demand for cryptocurrencies. Additionally the
findings give interesting insights in the different behavioural trait of students and junior
bankers.
