Interviewing Young Adults about Cryptocurrency Literacy and Investment Intention

Abstract

As the world becomes more digitalized, decentralized financial transactions using digital currency known as cryptocurrency may become more accepted and used by the general public. 16 young adults were interviewed in a qualitative research about their basic cryptocurrency literacy and investment intention. The interviewees were asked open-ended questions about their knowledge on how to make cryptocurrency transactions, willingness to invest in cryptocurrency, barriers to cryptocurrency investment intention, and their future vision of cryptocurrency. The results showed a lack of basic cryptocurrency literacy amongst young adults, high unwillingness or reluctance to invest in cryptocurrency due to its poor reputation, and uncertainty about the future of cryptocurrency. Numerous barriers that must be overcome to make cryptocurrency more acceptable to general public use include addressing their issues of untrustworthiness, riskiness, and volatility, as well as improving certain conditions of the cryptocurrency market with increased stability, security, and more regulation to discourage criminal activities. If the issues with using cryptocurrency are addressed, digital marketing and banking will be revolutionized.