The Importance of Financial Literacy For Cryptocurrency Investors

Journal of Namibian Studies, 35 (2023): 514-534 ISSN: 2197-5523 (online)
Special Issue on Business and Management
The Importance Of Financial Literacy For

Cryptocurrency Investors
Roberto Atanes Torres1, Sonia Martin Gomez*2 and

Angel Bartolome Muñoz de Luna3
1,2
Department of Business Management, University San Pablo
CEU, CEU Universities, Spain.
3
Department of Audiovisual Communication and Advertising,
University San Pablo CEU, CEU Universities, Spain.
ABSTRACT
Cryptocurrencies have emerged as a potentially disruptive
element within the digital economy, changing the way in
which various financial operations were previously
perceived and thus experiencing significant growth in
terms of adoption, usage, market capitalisation, valuation,
trading and diversification. In light of this new scenario,
this article explores and provides evidence on the
relationship between cryptocurrencies and social
networks through the use of digital social listening tools,
exploring data retrieved from the most prominent social
networks, as well as websites, forums and blogs, thus
offering a quantitative analysis to focus on the urgent
need to provide an adequate level of financial education
in the digital economy, so that the cryptocurrency user or
investor is aware of the existing risks associated with
cryptocurrencies, especially among the young population,
without underestimating the influence that social
networks have had and continue to have on the
perception and acceptance of digital currencies, and even
on their popularity.
As a result of this, and the subsequent popularisation

of cryptocurrencies on social media platforms, the reach
and influence of social media would have determined the
public's perception of these digital assets, thus influencing
the sentiment that social media users and internet users
have generated towards them. In fact, social media
platforms have become a powerful catalyst for the
transmission of information, news and opinions about
cryptocurrencies, serving as unregulated digital forums
where users share opinions, analyses and predictions. This
514
would pose a dilemma in terms of determining what

information is reliable, which, coupled with the lack of
regulated oversight of cryptocurrencies, would require
providing users with the necessary knowledge to mitigate
risks and promote informed decision-making
Therefore, the aim of this article is to provide
evidence of how social networks act as an indispensable
channel in the cryptocurrency phenomenon and its public
perception, analysing the context in which it occurs, as
well as the patterns followed and the most commonly
used channels, which would make it necessary to evaluate
the role that accurate and accessible financial education
has to play, with the clear aim of reducing the risks
inherent to digital currencies
Keywords: Agricultural Knowledge and Innovation

Systems (AKIS); Sustainable Management; strategy;
Agricultural Advisory.
INTRODUCTION
This article analyses the impact and growth of
cryptocurrencies, as well as the links cryptocurrencies have
with social networks (Poongodi et al., 2021) and the need to
develop appropriate financial education in relation to these
digital assets. Although the birth of Bitcoin (Nakamoto,
2008) was an event in that this digital currency was
presented as a decentralised alternative to fiat money
(Caraiani, 2018), it should be noted that cryptocurrencies
emerged with the support of cryptographic techniques
based on an underlying technology called block chain or
blockchain, which led to a change in the way certain
financial transactions could be carried out in the eyes of
many users, moreover, it began to rethink the traditional
concept of money (Mougayar, 2016) under the protection
of certain characteristics inherent to digital currencies, such
as transparency, immutability and, above all,
decentralisation (Al-Shdaifat, 2023), which added and
differentiated values that attracted the attention of a
significant number of followers and investors.
However, the reality of cryptocurrencies today is far
from their original purpose in terms of the role they play in
the real economy, raising questions about their future,
perhaps far from the solutions or benefits they were
intended to provide, as warned by the International
515
Monetary Fund's Allen (2022).

While it is reasonable to note that digital currencies
have indeed experienced remarkable growth in terms of
adoption, use, market capitalisation, valuation, negotiation
and diversification (De Filippy and Loveluck, 2016), it is no
less accurate that their adoption as a means of payment is
low, given the number of ATMs and companies worldwide
that accept them, moving away from their original
conception. It is true that at the end of 2022, Spain was
positioned as one of the leading countries in terms of
Bitcoin ATMs, with 283 terminals, ahead only of the United
States, Canada and Australia (Coin ATM Radar, 2022).
However, this number pales in comparison to the more
than 53,000 traditional ATMs that will exist in Spain by the
end of 2020 (European Central Bank-ECB, 2020).
In this sense, as shown in Figure 1, cryptocurrencies
are still not widely used as a means of payment for online
transactions, where credit cards or PayPal prevail.
Figure 1: Market share of payment methods in total e-

commerce transaction value worldwide in 2022, with a
forecast for 2026
Source: World pay. (March 24, 2023)
Mastercard's New Payments Index 2022 ranks Europe

as the region in the world least likely to adopt new digital
payments, a fact that, according to the survey conducted to
prepare this report, is due to concerns about security and a
general lack of knowledge about how to buy or hold
516
cryptocurrencies, data that is also consistent with the

results obtained in countries such as Uruguay, where 83%
of respondents say they would use cryptocurrencies if they
understood the system better. (Mastercard, 2022).
This has led cryptocurrencies to become relevant as

financial investments rather than as a means of payment,
which has meant that they have a preponderance in
deregulated financial markets. This is precisely what Lam
and Lam (2017) warn of the dangers that this reality brings
in terms of addiction syndromes generated in online
environments, as well as the need to provide, especially for
the youngest, adequate financial education to prevent this
type of risk, not only due to the relative ease of access to
cryptocurrencies through digital environments but also due
to the extremely high volatility of cryptocurrencies, as is the
case with bitcoin (Kayal and Balasubramanian, 2021), which
makes investing in this type of asset extremely dangerous in
terms of assuming financial risks.
As a result of this, and the subsequent popularisation of
cryptocurrencies on social media platforms, the reach and
influence of these would have determined the public's
perception of these digital assets, thus influencing market
sentiment towards them (Guégan and Renault, 2021), a fact
that has manifested itself in the boom that cryptocurrencies
such as Bitcoin and Ethereum have enjoyed as a result of the
omnipresence of social media in today's society.
Indeed, social networks have today become a resource
for information and communication, providing access to
diverse opinions and perspectives, and are often considered
a barometer of public sentiment in online environments,
including financial markets (Ranco et al., 2015). In this
context, especially with regard to cryptocurrencies, social
networks and social listening techniques can provide
valuable insights into market trends, but they also
represent both a challenge and a risk, as relying solely on
social networks for investment decisions can compromise
the quality and accuracy of information; indeed, Lazer et al.
(2018) warn that social networks are highly susceptible to
misinformation and manipulation, as they can distort
perceptions and analysis, which cryptocurrencies, by their
very nature, are not immune to.
Moreover, it is necessary to emphasie that investing in
cryptocurrencies is not only influenced by public perception
517
but also by economic, regulatory and technological factors

(Aste et al., 2017), so ignoring these circumstances through a
vision based solely on the information provided by social
networks may lead to uninformed investments.
In light of the above, financial education would be
crucial to develop a correct understanding of the basic
financial concepts inherent to any financial asset, even
more so in the case of digital currencies, so that the correct
interpretation of financial information and the ability to
make informed investment decisions (Huston, 2010) is of
paramount importance in the context of cryptocurrencies.
METHODOLOGICAL FRAMEWORK
The methodology for conducting the proposed research is
based on the social listening technique, which is based on
monitoring social networks and the Internet, identifying
and evaluating what is being said on the web and in social
networks about a company, brand, product or specific
topic. This process is mainly used for sentiment analysis and
reputation management, but can also be used to identify
trends, market research, opportunities or emerging threats
(Jansen et al., 2009).
In this way, social listening is used extensively as a
means of understanding users' perception of a particular
issue or topic (Herrera et al., 2022), since it works not only
with perception itself but also with any anchor point that is
established between the user and the topic under study,
based primarily on the use of technologies and algorithms
that automatically track and collect data from various online
sources: social networks, blogs, forums, news and other
types of websites. Once the data is collected, it is then
analysed to identify patterns, trends and sentiments, using
techniques such as natural language processing (NLP) and
text analysis (Cambria, 2016).
Most social media data tends to fall into two broad
groups: structured and unstructured. Structured data
adheres to standardised and well-defined data formats,
while unstructured data is often more difficult to process
because the format is not predefined, such as a Facebook
post (Hartman 2020). Social listening platforms are used to
collect, manage and analyse social media data, while social
suites incorporate many of the capabilities of social
technologies into a single platform and are used to perform
data collection and analysis tasks (Liu and Dawson, 2021).
According to the report, "Forrester Wave: Social
518
Listening Platforms (SLP), Q4 2020, which provides a

comprehensive assessment of leading SLP vendors, the
Brandwatch, Consumer Research platform used in this
research is evaluated along with nine other SLP vendors
(Digimind, Linkfuence, ListenFirst, Meltwater, NetBase,
Quid, Sprinklr, Synthesio, Talkwalker and Zignal Labs),
resulting in the platform leading the market by achieving
the highest scores in the areas of strategy and market
presence (Liu and Dawson, 2020).
The process of social network analysis is usually divided
into four phases (Stieglitz et al., 2018):
1. Discovery: Identification of content and its
corresponding keywords, hashtags, etc., which contribute to
defining the objectives of the analysis and the main
hypotheses to be tested.
2. Monitoring: identifying data sources and data
collection.
3. Preparation: Prepare the data for subsequent analysis.
Analysis: applying various analytical methods and techniques
to the prepared data set in order to answer the questions
posed in the discovery phase
In this research, as shown in Figure 2, we will follow

the same steps proposed by Stieglitz, with the addition of
one that relates to subsequent implementation, understood
as the need to effectively communicate the results of the
social network analysis.
Figure 2: Assignment of the main functions of Brandwatch

to the framework of the network analysis process
Source: McGuirk, M. (2021).
The first phase of discovery will use Brandwatch Search, an

artificial intelligence search engine using natural language
processing (NLP) techniques. The search is linked to existing
mentions in social networks and on the internet about the
importance of financial education for the good
management of cryptocurrencies.
In the next, subsequent phase, the so-called query is
519
created, which refers to the set of keywords that allow

information to be retrieved in the platform's systems. The
aim is to obtain the broadest possible view of what is
happening on the Internet and social networks thanks to
digital social listening on cryptocurrencies and financial
education, i.e. to know and assess the extent of interest in
financial education related to the cryptocurrency
phenomenon thanks to online conversations and
publications. To this end, Boolean operators were used to
combine the concepts sought and to refine the results to be
obtained. This allows us to obtain a test preview to
immediately evaluate the type of mentions retrieved by the
current query logic, favouring the intended social analysis.
In the next phase, tools will be needed to segment and
filter the information obtained from this initial Boolean
search preview, eliminating invalid sites not related to the
research and filtering the query by language, location and
date range, which in this case will be one year, in order to
analyse whether the evolution of the content under study
follows a certain pattern.
RESULTS
After analysing the keywords and hashtags that allowed us to
define the objectives to be studied, the following query was
formed, as shown below:
This query returns 1,190 mentions in the last 30 days,

from 25 May to 25 June 2023, after filtering by language
(Spanish) but searching globally and across Twitter, Reddit,
YouTube, Facebook, Instagram, Tencent QQ, Tumblr, news,
forums, reviews and internet blogs.
The code used selected Bitcoin, Ethereum and
cryptocurrencies as a general term covering any meaning of
the term, with a maximum distance of five words with the
terms "financial education" or any of the derivatives of the
word "education" thanks to the Boolean asterisk. The term
blockchain was excluded in order to refine the search by
supporting it with the selected cryptocurrencies, as they
have a market share of 74% by capitalisation (TradingView,
2021) or any other reference to digital currencies.
The search was then extended to a full year, starting
on 25 June 2022, to see how the number of mentions
already reflects the reality of the chosen time horizon, in
which just over 12,720 mentions were counted with 6,207
unique authors, i.e. in the case of the source being a social
network, neither re-tweets nor internalisations with the
original author are counted.
There is no doubt, however, that the growth of the
topic under study is remarkable, as the increase is very
520
striking both in terms of mentions (+1,129%) and unique

authors (+933%), which shows that the duo of
cryptocurrencies and financial education is indeed
generating considerable interest on the Internet and in the
social networks analysed (figure 3).
Figure 3: Total mentions and unique authors
Source: Brand watch

Next, in the figure 4, is investigated which sources were
leading this social conversation and found that the social
network Twitter was clearly in the lead, accounting for 85%
of the volume of conversations around search over the 12
months examined in this research.
Figure 4: Media with the highest volume of mentions
Source: Brand watch
However, it is also necessary to be able to analyze the

key concepts or most important conversations that the
query previously designed for this research yields. The
objective is to corroborate whether the aforementioned
query really reflects a relevant social conversation or
trending topic that is aligned with the concept of financial
education in the cryptocurrency environment. As can be
seen in the following graph 4, the trending topics are closely
related to our research, which shows that in fact not only
has there been an increase in the level of conversations and
interaction with them, but also demonstrates that once the
sample of 12,720 total mentions in a year has been
analyzed, they are closely related to the object of this
research (Figure 5).
Figure 5: Trending topics
521
Source: Brand watch
Once the main topics have been analysed, it is

particularly interesting to be able to deduce which
keywords are driving these conversations, in order to better
understand what is underlying each conversation. To do
this, we decided to use word cloud technology, which not
only extracts the keywords in the conversations, but also
identifies those that have an increasing trend on the right-
hand side of the lower horizontal axis, and those that have a
decreasing trend on the left-hand side of the same lower
horizontal axis.
The following Figure 6 shows how the tag "#bitcoin
where it is most needed" is the most prominent, not being
in itself relevant to the subject of the research, so it has
been chosen to analyse the words or groups of keywords
that follow it in terms of their increasing trend, clearly
finding here several references that fully affect the purpose
of the research. Thus, it is possible to highlight how, in the
cryptocurrency environment and especially around bitcoin,
"adoption and education", "financial education in #bitcoin",
"educating about bitcoin", "educational content", "driving
education", "educating about #bitcoin", "educational
PROGRAMME", "educational project", "University of
Science and Technology" or "Swiss Universities" stand out.
It should not be forgotten that all these keywords come
from the search command itself, entered into the
Brandwatch software, which forces the words Bitcoin,
Ethereum or cryptocurrency to be no more than five words
away from the terms education or financial education, in
order to contextualise the results of this research.
Figure 6: Keyword cloud
Source: Brand watch
It should be noted that in order to have a complete

picture of the impact of the online conversations that took
place on social networks and on the Internet last year, it is
522
extremely important to consider the feelings that they

generated, which is why we have used the functionality
related to sentiment analysis, since the fact that the topics
analysed are relevant does not mean that they have been
received by the public or the feelings that they may have
generated, i.e. whether the reaction to these topics was
positive, neutral or negative in terms of sentiment analysis.
To do this, Brandwatch uses natural language processing
(NLP) techniques to classify them as positive, neutral or
negative.
Table 1 shows the ten sites that have generated the

most mentions in terms of financial education in the
cryptocurrency field, accounting for a total of 11,183
mentions out of the 12,720 mentions recorded in this
research (second column of the table referred to), which
means that these ten sites, with Twitter at the top as
mentioned above, cover 87.92% of the total number of
mentions.
The third, fourth and fifth columns quantitatively
reflect sentiment analysis, also known as opinion mining,
while the seventh column models the average impact of
mentions on a logarithmic scale calculated by Brandwatch
from zero to one hundred. On the other hand, yahoo.com,
through its Yahoo Finance component, is able to generate
the highest level of impact with a remarkable 95.8 out of
100, indicating that a generalist social network such as
Twitter undoubtedly generates the highest volume of
mentions but a negligible impact due to its non-specialist
nature in the financial field. On the other hand, with only
0.22% of the mentions on Twitter, yahoo.com is able to
generate an impact ten times greater. Finally, the same is
true for the last column, which reflects reach or the number
of total views, where yahoo.com again dominates with the
highest value in this category.
Table 1: Sites with the highest number of mentions and

sentiment
523
Source: Brand watch
After carrying out a descriptive analysis of the variables

used for the sites with the highest number of mentions, and
according to the statistics in Table 2, it can be clearly seen
that the above-mentioned variables have frequency
distributions with positive symmetries, that is to say, with a
higher concentration of values above the mean values,
while all the variables, with the exception of Reach, have
leptokurtic forms, which is a clear indication that does not
exempt these variables from having mean values that are
relatively unstable, as indicated by the Pearson coefficients
of variation (Pearson CV) with values well above 0.3 in all
cases. 3 in all cases.
Table 2: Descriptive statistics
Source: Own analysis based on Brand watch data.
The correlations of the variables shown in Table 3

show an extreme dependence on the sentiment generated
and the volume of mentions, which is to be expected since
sentiment analysis depends on the natural language
processing analysis performed on the mentions themselves.
The correlation between reach and impact is also
moderately strong, with a positive value of 0.75949, but it is
really weak, almost zero, with the rest of the variables,
including the sentiment variables.
It should be noted that the correlations of Total
Monthly Visitors are also very weak, suggesting that this
variable depends on other variables not included in the
analysis offered by Brandwatch.
Table 3: Correlation matrix
524
Source: Own analysis based on Brand watch data.
If we now focus on the sentiment analysis of the study,

it is striking that it is extremely neutral, i.e, The NLP
algorithm shows that although financial education about
bitcoin and cryptocurrencies has indeed generated a
relevant and growing conversation, the sentiment of the
audience is mostly neutral with a percentage of 91.71%,
which would mean indifference or an indication that this
type of audience is mostly neutral with a percentage of
91.71%, which would mean indifference or an indication
that this type of audience is mostly neutral with a
percentage of 91.71%. 71%, which would indicate
indifference or an indication that this type of audience was
indifferent, the audience sentiment was mostly neutral with
a percentage of 91.71%, which would indicate indifference
or an indication that this type of conversation would
decline, despite the potential relevance for the reasons
expressed at the beginning of the research. This is followed
by negative sentiment, with 6.35%, and positive sentiment,
with 1.94%.
In fact, Figure 7 below shows that two peaks of
sentiment have been reached in the activity of the
conversations. It should be noted that reach is measured by
the number of users who have seen a given post at least
once, i.e. if a person sees a post twice, the reach would be
one, while the impressions would be two.
Specifically, on 7 November 2022, there was a
maximum of negative sentiment with a reach of 404,437,
while on 24 April 2023, there was a maximum of neutral
sentiment with a reach of 1,528,122. However, as far as
positive sentiment is concerned, it is noticeable that in
addition to not reaching a maximum, the line is practically
flat throughout the period analysed.
Figure 7: Evolution of sentiment
525
Source: Brand watch
In addition to the sentiment generated by online

publications during the period studied, it is important to
know its evolution over these twelve months thanks to
Figure 8, where it can be seen that the trend of each
sentiment does nothing but continue to grow in the same
direction, thus strengthening each sentiment since the
neutral sentiment starts with 877 mentions and grows by
207%, the negative sentiment starts with 124 mentions and
grows by 665% and finally, the positive growth, which starts
with 34 mentions but grows by 803%, slightly higher than
the negative sentiment. The neutral sentiment starts with
877 mentions and grows by 207%, the negative sentiment
starts with 124 mentions and grows by 665% and finally the
positive sentiment starts with 34 mentions but grows by
803%, slightly higher than the negative sentiment, which
shows that the changes in the perception of conversations
focused on financial education in cryptocurrencies have not
undergone major changes in terms of the sentiment
generated in the audience, since although they have
increased in volume, the perception has not changed to a
great extent.
Figure 8: Evolution of sentiment
Source: Brand watch
No less interesting is the fact that the type of sentiment

generated depends on the platform on which the online
conversation takes place, since although the consolidated
results do not vary, there are differences depending on
where the conversations originate. As shown in Figure 9,
526
YouTube and Reddit are the most polarising platforms, with

YouTube generating the highest level of positive sentiment
and the second highest level of positive sentiment, while
Reddit generates the highest level of negative sentiment
and the third highest level of positive sentiment. Twitter,
the leader in terms of conversation volume and reach, is the
least polarising in terms of generating sentiment in its
digital conversations, with the lowest levels of both
negative and positive sentiment.
Figure 9: Sentiment by platform
Source: Brand watch
In this research we have also proceeded to geolocate

where the greatest activity has taken place thanks to the
query proposed, highlighting here Colombia with the first
and third maximum on 1 August 2022 and 24 April 2023
respectively, with reaches of 287,545 and 727,278 as shown
in graph 9. While, on the other hand, El Salvador marks the
second maximum on 7 November 2022, it is worth drawing
attention precisely to this maximum, as it coincides with
that of the same date in terms of negative sentiment, while,
on the other hand, the other maximum in neutral
sentiment measurement that occurred on 24 April 2023
also coincides with that of the maximum reach in Colombia
(Figure 10).
Figure 10: Reach by country
527
Source: Brand watch
In terms of demographics, participation in online

conversations related to this research, as shown in Figure 11,
shows a clear predominance of male authors, with peaks at
various points in time, as can be seen, and a fairly clear trend
over time.
Figure 11: Demographic breakdown
Source: Brand Watch
CONCLUSIONS
There is growing concern about cryptocurrencies as an asset
528
to invest in without adequate financial education. This has

been demonstrated quantitatively, as shown by the data on
the increase in mentions on networks compared to the
previous period, 1,129%, with Twitter being the network
leading these conversations.
However, it should be noted that in the sentiment
analysis study, financial education on bitcoin and
cryptocurrencies continues to generate a largely neutral
sentiment with 91. 7%, which means that although the
number of mentions has increased, there is still a more than
marked indifference towards bitcoin and cryptocurrencies
on the part of social network and internet users, which is
closely linked to the risks that cryptocurrencies, as a highly
volatile financial asset, pose to any potential investor,
especially if they lack adequate financial education.
It is worth noting that generalist social networks such
as Twitter undoubtedly lead in terms of volume of mentions
due to their own digital ubiquity, user volume and openness
to conversations on almost any topic. However, their level
of impact is inversely proportional to the volume generated,
with financial sites clearly having the greatest impact,
meaning that the volume of conversation taking place on
the more generalist networks runs a high risk of being
diluted by the very nature of the medium in which it takes
place.
It is therefore necessary to propose an appropriate
digital communication strategy if the aim is to ensure that
the level of financial literacy is disseminated in order to
contribute to the knowledge of basic but necessary financial
terms, especially among the younger population, who
generally use social networks to stay informed, which
undoubtedly entails risks of misinformation, bias or special
interests.
It is striking that the presence of key institutions in

financial education is practically non-existent in terms of
volume of mentions, impact and scope, referring as key
institutions to those emanating from governments, central
banks and financial institutions, which undoubtedly play a
crucial role in the socio- economic aspects of any state or
nation.
For this reason, the institutions themselves must
assess this reality and propose accurate strategies in terms
of effectiveness and digital efficiency, aimed at raising
awareness in terms of having an adequate level of financial
529
education in digital environments, but above all to avoid

situations of misinformation or information bias arising
from conversations or digital content, which can lead to
potential risks around cryptocurrencies.
Adequate financial information reduces and minimises
social differences while undoubtedly contributing to the
intellectual wealth of any society, so the potential of social
networks and the internet must undoubtedly be correctly
calibrated in order to take advantage of their potential and
quasi-ubiquity in a responsible manner.
References
Al-Shdaifat, S.M. (2023). The criminal confrontation of the
cryptocurrency (Bitcoin) and its illegal use. International
Journal of Electronic Security and Digital Forensics, 15, 2.
114-123. https://doi.org/10.1504/IJESDF.2023.129280.
Allen, H.J. (2022). The superficial allure of crypto. International
Monetary Fund.
https://www.imf.org/en/Publications/fandd/issues/2022
/09/Point-of-View-the-superficial-allure- of-crypto-
Hilary-Allen
Aste, T., Tasca, P y Di Matteo, T. (2017). Blockchain
Technologies: The Foreseeable Impact on Society and
Industry, Computer, 50, 9. 18-28, 2017.
https://doi.org/10.1109/MC.2017.3571064
European Central Bank BCE. (2020). Evolución anual del número
total de cajeros automáticos en España desde 2010 hasta
2019. In Statista. Recuperado el 25 de junio de 2023, de
https://es.statista.com/estadisticas/525916/numero-de-
cajeros-automaticos-en-espana/
Cambria, E. (2016). Affective computing and sentiment analysis.
IEEE Intelligent Systems, 31(2), 102-107.
DOI: 10.1109/MIS.2016.31
Codina, L. (2009). Ciencia 2.0: Redes sociales y aplicaciones en
línea para académicos. Hipertext. net, 7, 295.
Coin ATM Radar. (November 15, 2022). Number of Bitcoin ATMs
in 84 countries and territories worldwide as of November
15, 2022 [Graph]. In Statista. Retrieved June 20, 2023,
from
https://www.statista.com/statistics/343147/number-of-
bitcoin-atms-countries/
DataReportal, & We Are Social, & Meltwater. (January 31,
2023). Most popular reasons for internet users in Spain
to use social media as of 3rd quarter 2022 [Graph]. In
Statista. Retrieved June 17, 2023, from
https://www.statista.com/statistics/1306279/social-
media-usage-reasons-spain/
530
Delfabbro, P., King, D., Williams, J., & Georgiou, N. (2021).

Cryptocurrency trading, gambling, and problem
gambling. Addictive behaviors, 122, 107021. DOI:
10.1016/j.addbeh.2021.107021
Equihua,(2016). Redes sociales de investigación. Infotecarios.
(Blog). Recuperado de https://bit.ly/1V3c5zj.
Feng Mai, Zhe Shan, Qing Bai, Xin (Shane) Wang & Roger H.L.
Chiang (2018) How Does Social Media Impact Bitcoin
Value? A Test of the Silent Majority Hypothesis, Journal
of Management Information Systems, 35 (1), 19-52, DOI:
10.1080/07421222.2018.1440774
Fernández Bayo, I.; Menéndez, O.; Fuertes, J.; Milán, M. y
Mecha, R. (2019). La Comunidad Científica ante las Redes
Sociales. Guía de Actuación para Divulgar Ciencia a través
de ellas, Universidad Complutense de
Madrid.https://www.ucm.es/data/cont/docs/1334-
2019-03-27-
Gu%C3%ADa%20de%20actuaci%C3%B3n%20def%20201
9%20WEB.pdf
Fox, A. y Wilson, E. (2009). Support our networking and help us
belong!: listening to beginning secondary school science
teachers. Teachers and Teaching: theory and practice,
15(6), 701-718. DOI: 10.1080/13540600903357025
Guégan, D. y Renault, T. (2021) Does investor sentiment on
social media provide robust information for Bitcoin
returns predictability? Finance Research Letters, 38,
101494. https://doi.org/10.1016/j.frl.2020.101494
Hartman, K. (2020). The day the geeks took over & storytelling
with data. In Digital marketing analytics: In theory and in
practice, 2nd ed., Ostmen Bennettsbridge Publishing
Services, 2–38 and 161–216.
Hernández Requena, S. (2008). El modelo constructivista con las
nuevas tecnologías: aplicado en el proceso de
aprendizaje. RUSC. Revista de Universidad y Sociedad del
Conocimiento (5), 2, 26-35.
Herrera, L.C., Majchrzak, T.A., Thapa, D. (2022). Principles for
the Arrangement of Social Media Listening Practices in
Crisis Management. In: Sanfilippo, F., Granmo, OC.,
Yayilgan, S.Y., Bajwa,
I.S. (eds) Intelligent Technologies and Applications. INTAP 2021.
Communications in Computer and Information Science,
vol 1616. Springer, Cham. https://doi.org/10.1007/978-
3-031-10525- 8_22
Huston, S. J. (2010). Measuring Financial Literacy. The Journal of
Consumer Affairs, 44 (2), 296–316.
DOI: 10.1111/j.1745-6606.2010.01170.x
Jansen, B. J., Zhang, M., Sobel, K., & Chowdury, A. (2009).
531
Twitter power: Tweets as electronic word of mouth.

Journal of the American Society for Information Science
and Technology, 60(11), 2169- 2188. doi:
10.1002/asi.21149
Kayal, P., y Balasubramanian, G. (2021). Excess Volatility in
Bitcoin: Extreme Value Volatility Estimation. IIM
Kozhikode Society & Management Review, 10(2), 222–
231. https://doi.org/10.1177/2277975220987686
Lam, L.T. y Lam, M.K. (2017). The association between financial
literacy and Problematic Internet Shopping in a
multinational sample. Addictive Behaviors Reports, Vol.
6. 123-127. DOI: 10.1016/j.abrep.2017.10.002
Lazer, D. M., Baum, M. A., Benkler, Y., Berinsky, A. J., Greenhill,
K. M., Menczer, F., Metzger, M. J., Nyhan, B., Pennycook,
G., Rothschild, D., Schudson, M., Sloman, S. A., Sunstein,
C. R., Thorson,
E. A., Watts, D. J., y Zittrain, J. L. (2018). The Science of Fake
News. Science, 359 (6380), 1094– 1096. DOI:
10.1126/science.aao2998
Liu, J. y Dawson, S. (2021). The Social Technology Convergence
Stalls Out. Forrester Research Inc.
Liu, J. y Dawson, S. (2020). The Forrester wave™: Social
Listening Platforms, Q4 2020. Forrester Research Inc.,
November, 10, 2020
Mastercard (2022). New Payments Index
2022.
https://www.mastercard.com/news/latin-
america/es/perspectivas/blog-posts/blog-
es/2022/julio/ya-no-caben-dudas-america-latina-adopta-
los-pagos-digitales-revela-una-encuesta/
McGuirk, M. Realización de análisis de redes sociales con
Brandwatch para Classrooms: una revisión de la
plataforma. J Market Anal, 9, 363–378.
https://doi.org/10.1057/s41270-021-00128-5
Meltwater & We are Social (2022). DIGITAL 2022: Global
Overview Report. Datareportal.
https://datareportal.com/reports/digital-2022-global-
overview-report
Mougayar, W. (2016). The business blockchain: Promise,
practice, and application of the next internet technology.
Hoboken, Nueva Jersey: John Wiley & Sons.
Nadarajah, S., y Chu, J. (2017). On the inefficiency of Bitcoin.
Economics Letters, 150, 6-9. DOI:
10.1016/j.econlet.2016.10.033
Nassi Calò, L. (2015). Estudio analiza el uso de las redes sociales
en la evaluación del impacto científico.
En SciELO en Perspectiva. Recuperado de
532
https://bit.ly/2Z6dMV0.
Organización de las Naciones Unidas para la Educación, la
Ciencia y la Cultura (UNESCO, 2021). Recomendación
de la UNESCO sobre la Ciencia
Abierta.https://unesdoc.unesco.org/ark:/48223/pf00003
79949_spa
Poongodi, M., Nguyen, T. N., Hamdi, M., & Cengiz, K. (2021).
Global cryptocurrency trend prediction using social
media. Information Processing & Management, 58 (6),
102708. DOI: 10.1016/j.ipm.2021.102708
Ranco, G., Aleksovski, D., Caldarelli, G., Grcar, M., y Mozetic, I.
(2015). The Effects of Twitter Sentiment on Stock Price
Returns. PLOS ONE, 10 (9), e0138441. DOI:
10.6084/m9.figshare.1533283
Reuters Institute (2023). Digital News Report 2023.
https://reutersinstitute.politics.ox.ac.uk/digital-news-
report/2023
Santana Arroyo, S. (2010). Redes de intercambio de información
científica y académica entre los profesionales en el
contexto de la Web 2.0. ACIMED, 21(3),321-333.
Stieglitz, S.;Mirbabaie , M.; Ross, B. and Neuberger, C. (2018).
Social media analytics—Challenges in topic discovery,
data collection, and data preparation. International
Journal of Information Management, 39, 156–168.
https://doi.org/10.1016/j.ijinfomgt.2017.12.002.
Stolper, O. A., and Walter, A. (2017). Financial literacy, financial
advice, and financial behavior. Journal of Business
Economics, 87, 581–643. DOI: 10.1007/s11573-017-
0853-9
Urquhart, A. (2016). The inefficiency of Bitcoin. Economics
Letters, 148, 80-82. DOI:
10.1016/j.econlet.2016.09.019
TradingView. (2021). Cuota de mercado según capitalización
bursátil de las principales criptomonedas desde 2015
hasta 2020 [Gráfica]. In Statista. Recuperado el 25 de
junio de 2023, de
https://es.statista.com/estadisticas/1236408/criptomon
edas-principales-monedas-por- capitalizacion-bursatil/
Vanti, N. & Sanz Casado, E. (2015) La Altmetría como una
opción para medir la ciencia de manera más justa y
equitativa. En Desafíos y Oportunidades de las Ciencias
de la Información y la Documentación en la era digital:
Actas del VII Encuentro Ibérico EDICIC 2015 (Madrid, 16 y
17 de noviembre de 2015). Universidad Complutense de
Madrid, Madrid
Worldpay. (March 24, 2023). Market share of payment
methods in total e-commerce transaction value
worldwide in 2022, with a forecast for 2026 [Graph]. In
533
Statista. Retrieved July 08, 2023, from

https://www.statista.com/statistics/1111233/payment-
method-usage-transaction-volume-share- worldwide/
Zapata-Ros, M.(2011). La investigación y la edición científica en
la web social: La ciencia compartida.
RED. Revista de Educación a Distancia, 3(1),1-19
Zargar, F.N. y Kumar, D (2019). Informational inefficiency of
Bitcoin: A study based on high-frequency data. Research
In International Business and Finance, 47. 344-353. DOI:
10.1016/j.ribaf.2018.08.008
Zhao, H. and Zhang, L. (2021). Financial literacy or investment
experience: which is more influential in cryptocurrency
investment? International Journal of Bank Marketing, 39,
(1) 1208-1226. DOI: 10.1108/IJBM-11-2020-0552.
534

The Importance of Financial Literacy For Cryptocurrency Investors

Uploaded by

Copyright:

Available Formats

The Importance of Financial Literacy For Cryptocurrency Investors

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

The Importance of Financial Literacy For Cryptocurrency Investors

Uploaded by

Copyright:

Available Formats

Journal of Namibian Studies, 35 (2023): 514-534 ISSN: 2197-5523 (online)

Special Issue on Business and Management