Understanding Consumer Behaviour and Mitigating Risks in Cryptocurrency Buying Process

Consumer Behaviour

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Referencing to the specific theory in the research of economics explaining the multi-faceted
nature of consumer buying behaviour of cryptocurrencies uses..................................................3
2a. Identifying the consumer risk involved in cryptocurrencies uses..........................................4
2b. Discussing how cryptocurrency buyers could mitigate risk in consumer buying process....4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Consumer behaviour is the study of the various groups, individuals or organization and
all other activities which are related with the purchase, use and disposal of gods and services.
This report will outline meaning of consumer buying behaviour and the micro and macro
dimensions of consumer behaviour. Further it will outline the risk involved in the
cryptocurrencies and how buyers mitigate the risk in consumer buying process.
MAIN BODY
1. Referencing to the specific theory in the research of economics explaining the multi-faceted
nature of consumer buying behaviour of cryptocurrencies uses
Consumer buying behaviour refers to the actions taken by the consumers in order to buy
the products and services. It is very important for the businesses to understand this process as it
helps the owner to produce those products which are accepted by the customers (Qalati and et.al.,
2019). This process includes the customers buying the products online by engaging in the social
media.
Micro and macro dimensions of consumer behaviour
Motivation: The consumer behaviour needs the motivation in order to survive in the
market. The customers can motivated by earning the profit from investing in the cryptocurrency.
This makes the customers to invest more in order to earn more profit.
Perceptions: The consumer perception is so important because it makes the owner to
know about the feedback and perception of the customers. It helps in understanding the
customers communication and their buying decisions by knowing their. Before implementing
anything new the owner must know about customer perceptions as it used to know about the
profitability in the market.
Technological factor: As changes in the technology it has great impact on the buying
behaviour of the customers. Blockchain is the technology tool which maintains the safety in
order to record and transfer the information.
The consumer behaviour have to be focused because customers are the main in order to
invest in the crypto market. They must be getting the adequate profit in investing in this market
which motivates them in order to invest more.