Navigating Cryptocurrency Knowledge: Unlocking Generation Z Perceptions and Behaviour

Abstract

A qualitative inquiry was undertaken to examine Generation Z’s level of cryptocurrency knowledge and its impact on their cryptocurrency consumption. The findings from 72 Generation Z respondents revealed that most people within this generational cohort lack knowledge about cryptocurrencies and hesitate to invest in them due to the uncertainty brought about by their lack of understanding. Even those with a basic to moderate understanding of cryptocurrencies remained sceptical of their knowledge and therefore of cryptocurrency. The few Generation Z respondents who acknowledged a greater understanding of cryptocurrencies were unwilling to allocate significant investment capital, again indicating signs of caution in their cryptocurrency consumption. The findings underscore the necessity for extensive and tailored educational resources about cryptocurrencies that cater to a wide range of Generation Z consumers, ranging from those requiring rudimentary introductions to cryptocurrencies as well as those desiring a more in-depth understanding of intricate market dynamics.