The Individual Cryptocurrency Investors Approach to Cryptocurrency in Turkey

Abstract

Cryptocurrency, which is known as a product of rapidly developing blockchain technology these days, is in high demand by investors, although it has not been officially accepted by central authorities as an asset or a medium of exchange. The cryptocurrency economy is growing rapidly day by day. There are different opinions about cryptocurrencies, which do not have any physical counterpart, are used in an entirely virtual environment, allow interpersonal transactions without the need for intermediaries, and have an encrypted system, as an exchange or investment tool. However, with its growing popularity over the past few years, it has become one of the tools investors are turning to in Turkey as well as worldwide. For this reason, this research is trying to explain the approaches of individual Cryptocurrency investors in Turkey to Cryptocurrency. The data that will form the basis of the study were collected by applying them to 440 individual crypto money investors in Turkey via social media platforms (Facebook, Twitter, Telegram, WhatsApp etc.). The appropriate 396 questionnaires were interpreted with the help of a package program. The outcome of multiple regression analysis applied, It was concluded that the benefit factor, as well as the economic risk factor, have a significant impact on the tendency of investors to invest in cryptocurrencies, and the confidence factor in cryptocurrency investors and concern about the economics and cryptocurrencies has not significantly affected the tendency to invest in cryptocurrencies.