The influence of personality traits and demographic factors on cryptocurrency investment decisions

IF 3.5 2区心理学 Q1 PSYCHOLOGY, SOCIAL

Personality and Individual Differences Pub Date : 2025-03-29 DOI:10.1016/j.paid.2025.113189

Sara E. Honold, Nahyun Oh

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引用次数: 0

Abstract

Cryptocurrencies have garnered global attention due to their volatility and potential for high returns, yet the psychological and demographic drivers behind investment intentions remain underexplored. This study investigates the role of three Big Five personality traits—openness, conscientiousness, and agreeableness—along with age and gender, in shaping cryptocurrency investment intentions. Using survey data from 208 U.S. participants, hierarchical regression analysis examined direct effects of personality traits and moderating effect of gender. Results show that conscientiousness and agreeableness negatively affect investment intentions, reflecting the risk-averse tendencies of individuals in high in these traits. Age also negatively predicts willingness to invest, with younger individuals displaying a stronger inclination toward cryptocurrencies. Gender moderates the relationship between age and investment intentions, revealing that men exhibit a sharper decline in willingness to invest with age, while women maintain more consistent patterns. Openness did not significantly predict investment intentions. These findings contribute to behavioral finance literature by highlighting the interplay between personality, age, and gender in financial decision making. Additionally, this study advances understanding of psychological and demographic factors in cryptocurrency adoption.

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来源期刊

Personality and Individual Differences PSYCHOLOGY, SOCIAL-

CiteScore

8.50

自引率

4.70%

发文量

577

审稿时长

41 days

期刊介绍： Personality and Individual Differences is devoted to the publication of articles (experimental, theoretical, review) which aim to integrate as far as possible the major factors of personality with empirical paradigms from experimental, physiological, animal, clinical, educational, criminological or industrial psychology or to seek an explanation for the causes and major determinants of individual differences in concepts derived from these disciplines. The editors are concerned with both genetic and environmental causes, and they are particularly interested in possible interaction effects.