Personality traits and crypto market participation
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2022-07-20
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en
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This paper is a contribution to the literature on crypto market participation. It is the first paper to study the relationship between personality traits and crypto market participation using survey data from the Netherlands. In total, 166 individuals participated of which 61 are crypto market participants. For the personality traits, the Big Five is used, consisting of conscientiousness, extraversion, agreeableness, neuroticism, and openness to experience. A significant negative relationship is found for both neuroticism and openness to experience regarding crypto market participation. For the other three personality traits no significant relationship is found. Furthermore, being a male and the level of risk tolerance has a significant positive relationship with crypto market participation. The study also shows some differences in the characteristics of crypto market participants compared to stock market participants.
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Faculteit der Managementwetenschappen