A NEW DANGER OF BEHAVIORAL ADDICTION: CRYPTOCURRENCY WITH MOBILE INVESTING.

BACKGROUND

Cryptocurrencies are a popular investment tool today. However, some studies highlight the investing behavior of cryptocurrencies similar to pathological gambling. Investing behavior becomes risky when it is not based on proper and adequate analysis and carries the possibility of big losses as well as big gains. For this reason, we aimed to determine the potential risky investor profile by age, gender, personality traits and impulsivity levels.

SUBJECTS AND

METHODS

Six hundred and fifty-four cryptocurrencies investors (529 was male, 125 was female, their mean age was 35.6 ± 9.0) participated in this study between June 2022 - August 2022. Participants were administered the Sociodemographic Data Form, the South OAKS Gambling Screen Test - revised (SOGS-r), the Big Five Inventory (BFI-10), and Barratt Impulsiveness Scale-11 (BIS-11).

RESULTS

We found higher neuroticism and impulsivity in possible problematic crypto investors. In addition, extraversion, agreeableness and conscientiousness scores were lower. Additionally, in our regression analyzes we found that younger age and male gender predicted SOGS-r scores. After controlling for age and gender, extraversion negatively and motor impulsivity positively predicted SOGS-r scores.

DISCUSSION: Investing in cryptocurrencies can become a behavioral addiction, similar to pathological gambling. It is important to identify profiles in which investment behavior is risky.

CONCLUSION

Personality traits and impulsivity may have a significant impact on identifying risky crypto investors and in the treatment process.