Profiling Cryptocurrency Buyers: Important Antecedents of Adoption and Investment Decisions

Abstract

In this chapter, we use Herzberg’s two-factor theory to explain private individuals’ willingness to buy cryptocurrencies. Following Herzberg’s classification, we label five factors (trust, security, privacy, absence of risk, and sustainability) as hygiene factors that must be present to avoid dissatisfaction. The expectation of financial gains is the main motivator for cryptocurrency buyers, as its realisation generates satisfaction. We illustrate the importance of the respective factors to individuals and show that such perceptions are easily influenced.