Financially literate, crypto-invested? : exploring the link between financial literacy and cryptocurrency ownership among Icelandic university students

This study investigates whether financial literacy influences cryptocurrency ownership among university students in Iceland. As digital financial tools continue to grow in popularity, particularly among younger populations, understanding the relationship between financial knowledge and investment behavior has become increasingly important. A total of 72 university students in Iceland participated in a survey that measured both their objective financial literacy, using three standard financial literacy questions, often referred to as the “Big Three”, and their cryptocurrency ownership status. Participants also reported perceived financial knowledge, knowledge of crypto concepts, and basic demographic information. The results were analyzed using chi-square tests, independent samples t-tests, and one-way ANOVA to assess whether differences in financial literacy were associated with ownership status. While the statistical tests did not reveal a significant relationship, descriptive findings showed that students with higher financial literacy scores were more likely to currently or previously own cryptocurrency. Male students were also more likely to report both higher financial literacy and crypto ownership compared to female students. Although the findings did not yield a statistically significant connection between the variables, they do suggest a potential relationship that warrants further research on the topic. The findings provide insight into the financial behavior of digitally engaged students and point to broader questions about the role of knowledge, perception, and trust in shaping participation in new financial markets.

Authors dc:creator

• Ágúst Karel Magnússon 2000-
• Sverrir Páll Hjaltested 2000-

Contributors dc:contributor

• Háskólinn í Reykjavík

• Viðskiptafræði
• Rafmynt
• Fjármálalæsi
• Crypto-currency

Language dc:language.iso

en

Handle dc:identifier.uri

https://hdl.handle.net/1946/50695

OAI identifier oai:identifier

oai:skemman.is:1946/50695