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Consumer Perceptions towards Crypto Currencies

by | Jan 14, 2020 | DOI 2018

Ismail Metin, Enis Yakut​
Manisa Celal Bayar University, Faculty of Business, Muradiye Campus, Manisa/Turkey
DOI: https://doi.org/10.31410/eraz.2018.299

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4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia;  Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7

Abstract

Crypto currencies have recently become an important investment tool. The lack of central authority behind it, being referred as a means for laundering illicit money, the lack of legal regulations and the hacking of some stock exchanges have raised question about the perceived trust and risk toward crypto currencies. In this study, an online survey was prepared and shared on social media. The total of 767 people participated in the online survey; and factor analysis, correlation analysis and linear regression analysis have been conducted. As a result, it has been concluded that there is a negative correlation between the risk perception of consumers and the perceived trust towards crypto currencies; and as the trust towards crypto currencies increases, the level of perceived risk declines. Additionally, it can be stated that, the trust toward crypto currencies develops and strengthens over time, the level of trust noticeably increases with the initial investment, and it continues to increase over time.

Key words

Consumer Behavior, Crypto Currency, Perceived Risk, Bitcoin, Perceived Trust 

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