Profiling Cryptocurrency Buyers: Important Antecedents of Adoption and Investment Decisions

In this chapter we use Herzberg’s Two Factor Theory to explain private individuals’ willingness to buy cryptocurrencies. Following Herzberg’s classification, we label five factors (trust, security, privacy, absence of risk, sustainability) as hygiene factors that must be present to avoid dissatisfaction. The expectation of financial gains is the main motivator for cryptocurrency buyers, as its realization generates satisfaction. We illustrate the importance of the respective factors to individuals and show that such perceptions are easily influenced.