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All Journal Devotion: Journal of Research and Community Service
Trisno, Andhika Muhammad Fadil
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Journal : Devotion: Journal of Research and Community Service

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The Influence of Financial Literacy, Risk Tolerance and Trust on Cryptocurrency Investment Decision-Making on The Millennial Generation In Jabodetabek Trisno, Andhika Muhammad Fadil; Fariyanti, Anna; Anggraeni, Lukytawati
Devotion : Journal of Research and Community Service Vol. 6 No. 6 (2025): Devotion: Journal of Community Research
Publisher : Green Publisher Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59188/devotion.v6i6.25469

Abstract

Cryptocurrency investment among millennials in Jabodetabek has surged, driven by the increasing adoption of digital assets despite their inherent risks, such as price volatility and regulatory uncertainty. This study investigates the influence of financial literacy, risk tolerance, and trust on cryptocurrency investment decision-making using the Theory of Planned Behavior (TPB). The research aims to explore how attitudes, subjective norms, and perceived behavioral control, in addition to financial literacy, risk tolerance, and trust, impact investment decisions. A quantitative approach was adopted, surveying 325 millennial investors in Jabodetabek. The findings reveal that attitudes, subjective norms, perceived behavioral control, risk tolerance, and trust significantly influence investment intentions and behaviors. However, financial literacy was found to have no direct effect on investment intentions, indicating that millennials may invest despite limited financial knowledge, influenced instead by positive attitudes and social factors. This highlights the importance of psychological factors such as trust and risk tolerance in guiding investment decisions in cryptocurrency markets. The study provides valuable insights for policymakers, financial educators, and cryptocurrency platforms to enhance financial literacy and support more responsible investment practices among millennials.
Co-Authors Fariyanti, Anna Lukytawati Anggraeni