The Effect of Demographics on Investment Choice in Digital Currencies: An Empirical Study of Thai Investors

Abstract

The purpose of this study is to compare the differences in Thai investors' demographic characteristics that influence their decision to invest in digital currencies. This study was quantitative research. The samples of this study were 400 Thai investors who invest in digital
currencies, using non-probability sampling by convenience sampling method. We employed a questionnaire as our research tool, demonstrating content validity of 1.00 and reliability of 0.70 across the entire questionnaire. We analysed the data using a one-way analysis of variance. The research discovered that different demographic factors of Thai investors, such as their age, average monthly income, duration of investments, and amount of money invested, influenced different investment decisions in digital currencies. However, the various demographic factors of Thai investors, such as their gender and level of education, did not influence different investment decisions in digital currencies. Digital currency investment providers can use these research results to develop strategies that accurately and successfully target or qualify investors.