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Profile and Financial Behaviour of Crypto Adopters – Evidence from Macedonian Population Survey

Author

Listed:
  • Levkov Nikola

    (PhD, Associate Professor, Ss. Cyril and Methodius University in Skopje Faculty of Economics – Skopje, Skopje, Republic of North Macedonia, Bul. Goce Delchev 9V, Skopje, 1000, Republic of North Macedonia)

  • Bogoevska-Gavrilova Irena

    (MSc, Research and teaching assistant, Ss. Cyril and Methodius University in Skopje, Faculty of Economics – Skopje, Skopje, Republic of North Macedonia)

  • Trajkovska Milica

    (Alumna of the Ss. Cyril and Methodius University in Skopje, Faculty of Economics – Skopje, Skopje, Republic of North Macedonia)

Abstract

Regulators and policymakers in many developing countries are facing challenges on how to create opportunities for the crypto industry to grow, but at the same time protect investors and consumers. This study aims to better understand the demographic and socio-economic characteristics of crypto adopters and their financial behavior. Our study advances the knowledge within an array of recent contributions to the token economy and covers the geographical and contextual research gaps through survey data from a developing country in South Eastern Europe. We use descriptive statistics and chi-square analysis and we find that Macedonian crypto-adopters are more men of younger age, employed, with higher education and living in their own apartments in an urban area, and are mainly passive investors. We compare the findings with studies from other countries to provide valuable insights for policymakers and regulators.

Suggested Citation

  • Levkov Nikola & Bogoevska-Gavrilova Irena & Trajkovska Milica, 2022. "Profile and Financial Behaviour of Crypto Adopters – Evidence from Macedonian Population Survey," South East European Journal of Economics and Business, Sciendo, vol. 17(2), pages 172-185, December.
    • Handle: RePEc:vrs:seejeb:v:17:y:2022:i:2:p:172-185:n:5
    DOI: 10.2478/jeb-2022-0022
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    References listed on IDEAS

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    More about this item

    Keywords

    Crypto-adopters; cryptocurrencies; financial behavior; demographic profile; socio-economic profile;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G40 - Financial Economics - - Behavioral Finance - - - General
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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