Title: Cryptocurrency use and sociodemographic characteristics in Portugal: a circular economy case

Authors: Daniela Rocha; Ana Pinto Borges; Bruno Miguel Vieira; Elvira Vieira; Daniela Castilho; Joana Neto

Addresses: ISAG – European Business School, Portugal; Research Center in Business Sciences and Tourism (CICET-FCVC), Campus de Salazares, Rua de Salazares 842, 4100-442 Porto, Portugal ' ISAG – European Business School, Portugal; Research Center in Business Sciences and Tourism (CICET-FCVC), Porto, Portugal; Center for Research in Organisations, Markets and Industrial Management (COMEGI), Campus de Salazares, Rua de Salazares 842, 4100-442 Porto, Portugal ' ISAG – European Business School, Portugal; Research Center in Business Sciences and Tourism (CICET-FCVC), Campus de Salazares, Rua de Salazares 842, 4100-442 Porto, Portugal ' ISAG – European Business School, Portugal; Research Center in Business Sciences and Tourism (CICET-FCVC), Porto, Portugal; IPVC – Polytechnic Institute of Viana do Castelo and UNIAG – Applied Management Research Unit, Campus de Salazares, Rua de Salazares 842, 4100-442 Porto, Portugal ' Research Center in Business Sciences and Tourism (CICET-FCVC), Rua de Salazares 842, 4100-442 Porto, Portugal ' Research Center in Business Sciences and Tourism (CICET-FCVC), Rua de Salazares 842, 4100-442 Porto, Portugal

Abstract: Cryptocurrency use has increased all around the world, including in Portugal. It is relevant to examine the factors that influence cryptocurrency adoption and how sociodemographic characteristics affect those factors. To accomplish the objectives, an exploratory study was performed, and a survey was applied to the Portuguese participants, resulting in a sample of 272 observations. Cryptocurrencies adoption was assessed by the cryptocurrencies use scale. The cryptocurrencies use scale reveals a three factors' structure: autonomy and anonymity, system security and risk, user information and protection, and evidenced good internal consistency. The three subscales and the Cryptocurrency Use Scale confirmed their relationship with sociodemographic characteristics. The outcomes of stepwise regression analysis showed that age, gender, educational level, marital status, and income are relevant and have impacts on cryptocurrency adoption in Portugal - although at different factors and significance levels. Limitations and future research are also discussed.

Keywords: cryptocurrency; blockchain; circular economy; sociodemographic characteristics; Portugal.

DOI: 10.1504/GBER.2024.140860

Global Business and Economics Review, 2024 Vol.31 No.3, pp.391 - 406

Received: 10 Dec 2021
Accepted: 01 Apr 2022
Published online: 03 Sep 2024 *

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