The Association of Cryptocurrency and the Use of Alternative Financial Services

Authors

  • Gary Curnutt
  • David Smith Western Carolina University

DOI:

https://doi.org/10.61190/fsr.v33i2.4094

Abstract

Alternative financial services (AFS) have been studied in recent years in terms of how these financial
markets are utilized. The products and services include check cashing, pawnshop loans, payday advance
loans, electronic cash transmissions, tax refund anticipation arrangements, rent-to-own contracts, prepaid
debit cards, gift cards, and loans collateralized by automobile titles. Cryptocurrency has become part of
this AFS ecology. The 2023 Survey of Household Economics and Decisionmaking collected information
on AFS use, including the use of cryptocurrency as an AFS. This research answered the questions: a) Do
users of cryptocurrencies for AFS also tend to use them for investments; b) do users of cryptocurrencies to
make payments tend to use them for other AFS purposes, and c) do users of cryptocurrencies to send
money to friends and family tend to use them for other AFS purposes?

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Published

2025-06-09

How to Cite

Curnutt, G., & Smith, D. (2025). The Association of Cryptocurrency and the Use of Alternative Financial Services . Financial Services Review, 33(2), 124–143. https://doi.org/10.61190/fsr.v33i2.4094

Issue

Vol. 33 No. 2 (2025): Financial Services Review

Section

New Original Submission

License

Copyright (c) 2025 Gary Curnutt, David Smith

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