A research of investor behaviour in crypto money markets

Cryptocurrencies have emerged as an alternative currency and have become one of the most topics of recent years with the Blockchain technology. Cryptocurrencies are often compared with commodities and fiat currencies, and have advantages and disadvantages. With the first year of emergence of digital currencies in 2009, they have become the center of attention of investors as they have made very high profits in a short time. it has also created many business lines. Mining activities have emerged and computer companies have started to produce special parts for this area, as they had to produce highly equipped computers. Despite these developments, it has not yet become legally official. Crypto assets have always been compared to alternative investment vehicles since they emerged. In this context, in Chapter 4, a detailed comparison of crypto assets with gold and Bist100 returns and risks has been made and it has been revealed that BTC is the investment tool with the highest return. In the light of these developments, a study has been prepared to reveal the investment behavior of crypto money investors through a survey, by summarizing cryptocurrencies and developments in this field, by considering the returns and risks of cryptocurrencies in comparison with other investment instruments. This study was carried out by applying a survey of 392 participants in 2020. Survey questions were delivered to the participants on the internet between 20 December and 1 March. As a result, information about the opinions of crypto money investors in this field has been obtained and it is aimed to contribute to the literature in the process of enacting cryptocurrencies. In the survey conducted with the convenience sampling method, the number of participants was 392 and the rate of women was 18.11%. It has been determined that more than 80% of the participants are university graduates and more than 40% of them have an income level of more than 7501 TL. The trust of the survey participants in cryptocurrencies is about 50%, while the rate of those who trust crypto money exchanges is about 30%. At the same time, the rate of those who do not agree with the view that cryptocurrencies are balloons is more than 60%. The use of cryptocurrencies in trade is 13%. Nearly 60% of investors believe that the Covid-19 outbreak will positively affect the cryptocurrency markets. While 32% of the investors expect 21% or more profit from the transactions they opened, the 5% rate for the stop loss was deemed appropriate by 36% of the participants. Approximately 37% of the participants defined their investment behavior as high-risk investment. While 58% of the participants stated that they follow the cryptocurrency exchanges every day, the rate of those who follow their investments every day is 65%. While no relationship could be found between the education levels of the participants and their risk-taking preferences; A relationship was found between gender, income level, working status and risk perception.