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Development and Verification of Problematic Cryptocurrency Trading Scale.
Nurettin Menteş1, İlyas Yolbaş2, Mahmut Bulut3
1Department of Economics, aculty of Economics and Administrative Sciences, Dicle University, Turkey.
Psychiatry and Clinical Psychopharmacology
|May 20, 2024
Summary
This study developed a valid and reliable scale to measure problematic cryptocurrency trading, identifying it as a potential addiction similar to gambling. The new scale helps assess risky behaviors in cryptocurrency traders.
Area of Science:
- Behavioral Psychology
- Digital Finance
- Addiction Studies
Background:
- Cryptocurrency trading shares high-risk factors and usage patterns with problematic gambling, indicating potential for addiction.
- Existing diagnostic criteria and scales for internet addiction were adapted to address this emerging issue.
Purpose of the Study:
- To develop and validate a reliable scale for measuring Problematic Cryptocurrency Trading (PCT).
- To provide a tool for identifying individuals exhibiting addictive behaviors in cryptocurrency markets.
Main Methods:
- A 16-item scale was designed based on DSM-5 criteria and internet addiction scales.
- Two studies were conducted with large sample sizes (N=1314 and N=353) of cryptocurrency traders.
- Exploratory and confirmatory factor analyses, along with reliability tests (Cronbach's alpha), were employed to validate the scale.
Main Results:
- Exploratory factor analysis revealed a two-factor structure for the scale.
- The overall scale demonstrated high reliability (Cronbach's alpha = 0.913), with sub-factors also showing strong reliability (0.897 and 0.866).
- Confirmatory factor analysis validated the two-factor structure, meeting acceptable goodness-of-fit criteria.
Conclusions:
- The developed Problematic Cryptocurrency Trading Scale is a valid and reliable instrument.
- This scale can be utilized to assess and understand addictive tendencies in individuals engaged in cryptocurrency trading.
Keywords:
Behavioral addictionbitcoingambling addictionproblematic cryptocurrency tradingreliabilityvalidityMore Related Videos
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