Study on Bitcoin Risk Perception Based on EFA and Structural Equation Model

Abstract

This document established the main factors of bitcoin risk perception based on the explorative factor analysis, then studied them using structural equation model and conducted one-order and second-order confirmatory factor analysis. The results show that the bitcoin perceived risk mainly includes four aspects: bitcoin technology and security risk, national policy and legal risks, social risks, bitcoin market and transaction risk, the risk perception has correlation on each other. Based on the model, the author put forward the corresponding policy recommendations.