Place of cryptocurrencies in world countries: Qualitativeresearch on the Republic of Azerbaijan

With the changing global economic order, the concept of "cryptocurrency," which has come to the forefront in the last seventeen years, has taken its place in the literature and begun to attract the attention of investors. As a relatively new concept, especially in developing countries, cryptocurrency will be useful in gaining insights into how it will affect the global economy. One of the most important benefits of cryptocurrencies is the speed and low cost of cross-border money transfers. In this respect, it offers a more advantageous alternative compared to the traditional banking system. Furthermore, their decentralized structure contributes to users having more control over financial transactions and strengthens the principle of transparency. The aim of this study is to examine the concept of cryptocurrency in Azerbaijan in detail, to look at the possibilities of using cryptocurrencies in trade, and then to reveal the cryptocurrency usage and attitudes of entrepreneurs operating in the cryptocurrency sector. Another aim is to contribute to the cryptocurrency literature related to Azerbaijan and to inspire future research. In this context, the application part of the study involved interviews with entrepreneurs and business people experienced in the field to gather information and evaluate the general situation regarding the use of cryptocurrencies in Azerbaijan. Data was collected and conclusions were drawn. The research shows that investors or entrepreneurs prefer cryptocurrencies due to their low transaction fees, high interest rates, and results-oriented structure. Future research on this topic is important in terms of examining and revealing the factors that prevent the widespread use of cryptocurrencies in daily transactions.