Examining the Drivers of Cryptocurrency Investment Intentions among Undergraduates in Malaysian Universities

Abstract

This study aimed to examine the variables that affect Malaysian university students' intentions to invest in cryptocurrencies. Few studies have been conducted on the factors influencing Malaysian university students' intention to invest in cryptocurrencies, despite a wealth of research on the desire to do so. The researcher used a self-administered questionnaire to collect data for this quantitative study, which was grounded in a positivist philosophy. The target population was students who intend to invest or have invested previously in cryptocurrencies. A total of 106 respondents were obtained. The results of this study were empirically analyzed using a deductive approach and the positivist philosophy. The Statistical Product and Service Solution (SPSS) was used to process and analyze the data. The study's findings demonstrated that among the students surveyed, financial literacy, perceived trust, and social norms all had a significant impact on their intention to invest in cryptocurrencies. It was discovered, nevertheless, that their intention to purchase cryptocurrency is not significantly impacted by their perception of behavioral control. This study's value and implications stem from the insights it provides to various stakeholders in the cryptocurrency space, such as marketers, educators, and businesses engaged in the development, exchange, and creation of non-fungible tokens (NFTs). To draw in and keep the interest of potential investors, the study's findings indicate that these parties should concentrate on raising financial literacy and spreading knowledge about cryptocurrencies. The study's conclusions add to our knowledge of undergraduates' investing behavior and have applications for those involved in the cryptocurrency space.