Crypto consumers' personality traits, and the impact of brand personality on cryptocurrencies' identity

Abstract

The 2017 cryptocurrency parabolic craze drew significant attention, pushing blockchain projects to differentiate themselves from competitors. Within this scope, the present study employs the personality trait model to theoretically and empirically explore brand personality within the context of digital currencies, investigating its impact on its brand identity through the moderating effect of consumers' personality traits. The analysed data (n=237) were collected from Consensus 2019, which is the world's leading blockchain forum. Results revealed that within the context of cryptocurrencies, brand personality positively relates to brand identification, whereas the five personality traits (openness, agreeableness, conscientiousness, extroversion, and neuroticism) relate differently as moderators. This study is the first to explore brand personality and brand identification within the context of digital currencies. The findings indicate that crypto users link brand personality with brand identification differently depending on certain personality traits.