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RESLAJ: Religion Education Social Laa Roiba Journal
ISSN : 2656274X     EISSN : 26564691     DOI : https://doi.org/10.47467/reslaj
RESLAJ: Religion Education Social Laa Roiba Journal is a scientific journal of the National Islamic Institute of Religion (IAI-N) Laa Roiba Bogor. Managed by the Institute of Research and Community Service (LPPM) IAI-N Laa Roiba in colaboration witf Intelectual Association for Islamic Studies (IAFORIS) and Masyarakat Ekonomi Syariah. The RESLAJ is published every June and December to support the development of research and studies on religious, educational, social, economic, and broadcasting issues of Islamic dakwah from various perspectives. Therefore. This journal will feature research papers and theoretical, empirical and practical studies relating to religious, educational, social, economic and Islamic dakwah issues. P-ISSN 2656-274X. E-ISSN 2656-4691. DOI: 10.47467/reslaj. Starting from Volume 1 Number 1 2019 to Volume 6 Number 3 of 2024 published on the website with the URL https://journal.laaroiba.ac.id/index.php/reslaj. Starting from Volume 6 Number 4 2024 onwards it will be published with the URL https://journal-laaroiba.com/ojs/index.php/reslaj.
Arjuna Subject : Umum - Umum
Articles 1,681 Documents
The Effect of Financial Literacy on Cryptocurrency Investment Intention: The Mediating Role of Perceived Risk Vidya Ramadhan Putra Pratama
Reslaj: Religion Education Social Laa Roiba Journal Vol. 8 No. 9 (2026): RESLAJ: Religion Education Social Laa Roiba Journal
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/reslaj.v8i9.13462

Abstract

This study examines the effect of financial literacy on cryptocurrency investment intention and tests whether perceived risk mediates the relationship. A quantitative cross-sectional survey was conducted among 40 active cryptocurrency investors in Indonesia. The model was estimated using variance-based Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3.29. The measurement model satisfied reliability, convergent validity, and discriminant validity requirements. The structural model shows that financial literacy has a positive and significant effect on investment intention (β = 0.700; p < 0.001) and, unexpectedly, also has a positive and significant effect on perceived risk (β = 0.703; p < 0.001). Perceived risk does not significantly affect investment intention (β = 0.003; p = 0.495), and the indirect effect of financial literacy through perceived risk is insignificant (β = 0.002; p = 0.495). These findings indicate that financially literate crypto investors may recognize more risks without becoming less willing to invest. Accordingly, financial literacy may operate primarily as a decision-enabling and risk-recognition capability rather than through a risk-reduction mechanism. The study contributes to the literature by distinguishing risk awareness from risk avoidance among active cryptocurrency investors and highlights the need for investor education that emphasizes risk-management competence.

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