A RESEARCH ON THE FACTORS AFFECTING CRYPTOCURRENCY INVESTMENTS WITHIN THE GENDER CONTEXT

Year 2021, Volume: 10 Issue: 4, 178 - 189, 31.12.2021

Cagla Gul Senkardes Ozan Akadur

https://doi.org/10.17261/Pressacademia.2021.1463

Abstract

Purpose- Cryptocurrency, which is one of the first products of blockchain technology, is preferred by more and more actors in addition to
traditional investment tools. One of the factors over demographic and psychological factors that affect the financial investment decisions
of individuals is gender. Although there are many studies in the academic literature on gender-related financial investment decisions, there
is no research and data on cryptocurrencies. In this study, the factors affecting cryptocurrency investments are examined within the
context of gender.
Methodology- Survey model was used as a quantitative research method. With the computer aided survey research conductd in Turkey,
gender-related behavioral and psychological differences in cryptocurrency investments were revealed and the survey findings were
discussed over the information obtained from the literature review.
Findings- With this research, it was seen that the gender factor was associated with both psychological and demographic factors.
Cryptocurrencies are in the top 5 in men's financial investment instruments portfolio while 32.6 percent of women invest in
cryptocurrencies. The level of knowledge about cryptocurrencies, which is effective in investment preferences, is at medium and high level
at the rate of 64 percent for men however 60 percent of women have very limited or no knowledge about this investment tool. The first
two of the factors that affect cryptocurrency investment decisions which are confidence and volatility also differ in terms of rank and
proportion. Age-related cryptocurrency investment preferences do not differ by gender. This study shows that men follow their
investments more frequently than women and do not avoid taking risks.
Conclusion- With this research, gender-based main preference differences in cryptocurrency investments are revealed and an important
resource is provided in this field, which has limited research, and contributes to the literature. It has been observed that women prefer
different investment tools primarily due to lower income and lower level of knowledge about cryptocurrencies. Factors showing similarity
based on gender were also found by this research.

Keywords

Cryptocurrencies, blockchain technology, financial ınvestments, female ınvestors, gender

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