Cryptocurrencies and consumer behaviour: Insights and practical guidance based on experimental conjoint analysis

The cryptocurrency (crypto) market has experienced extraordinary growth in recent years. Although this market is highly volatile and has collapsed frequently, crypto ownership and consumer investment in such assets have increased. From a consumer behaviour perspective, there has been little effort to gain insight into consumer investment behaviour in the crypto context. In particular, there is a lack of practical guidance shedding light on consumer preferences related to investment decisions, specifically for the increasing number of policymakers addressing this issue. Therefore, the authors use an experimental conjoint analysis to explore the importance of three attributes in the crypto investment context based on recent consumer behaviour literature. The results suggest that fear of missing out, counter-message tactics, and certain crypto characteristics are important criteria when it comes to crypto investments. With its findings, this chapter contributes to the current literature on consumer behaviour in the crypto context by providing practical insights and guidance for scholars and policymakers concerned with consumer crypto engagement.