OIDA International Journal of Sustainable Development
Open-access peer-reviewed journal
https://doi.org/10.64211/oidaijsd190302
Crypto Investment Trends in the Digital Age: The Impact of Online Information on Risk Perception
J K Raju ¹, Soujanya L ²*
¹ Department of Management and Commerce, Davanagere University, Davanagere, India.
² Department of Management and Commerce, Davanagere University, India.
2 S-VYASA University, Bengaluru, India. Email:
*Corresponding authour: soujanal@svyasa.edu.in
Volume 19, Issue 03, Pg. 19-28, 2026.
Abstract: The emergence of cryptocurrencies has revolutionised the global financial landscape, providing a decentralised alternative to traditional investment instruments. With this rise, online information, particularly from social media platforms, has become a powerful influence on investor behaviour, especially in how risk is perceived and managed. This study examines the influence of online information on cryptocurrency risk perception and adoption, with a focus on the mediating roles of financial literacy, perceived value, and perceived risk. The research further examines how demographic factors such as age, gender, education, and income influence these dynamics.
Employing a quantitative research design, the study draws on data collected through a structured online survey distributed via Google Forms between April and May 2025. The survey was administered to 200 active users of cryptocurrency-focused Telegram groups, selected using purposive and snowball sampling methods. Telegram was chosen as the primary platform due to its unrestricted communication features and strong presence among retail crypto investors. The survey instrument was divided into three key sections: demographic details, a financial literacy scale, and validated measures for perceived risk, perceived value, and cryptocurrency adoption. Data were analysed using Structural Equation Modelling with Partial Least Squares (SEM-PLS).
The findings reveal that financial literacy significantly reduces perceived risk and enhances perceived value, both of which strongly influence an individual’s intention to adopt cryptocurrencies. Perceived risk acts as a critical barrier, while perceived value serves as a powerful motivator. Intention, in turn, is the most significant predictor of actual adoption. Additionally, linear regression analysis confirms that demographic factors, particularly education and income, have a significant impact on adoption behaviour. From a managerial perspective, the study underscores the importance of targeted investor education and transparent digital communication. Financial institutions and fintech platforms should prioritize building trust and reducing complexity by addressing misinformation prevalent on social media channels. For regulators, the findings call for policies aimed at improving digital financial literacy and establishing safeguards against misleading online content.
The study contributes to theoretical advancements in behavioural finance by embedding cognitive constructs, such as perceived value and risk, within a framework of online information exposure. It aligns with models like the Theory of Planned Behaviour and UTAUT, emphasising intention as a key mediator of technology adoption.
Finally, the study suggests future research directions, including longitudinal studies, qualitative methods, and cross-cultural analyses to further explore the evolving relationship between online information, risk perception, and cryptocurrency adoption.
Keywords: Cryptocurrencies, Financial Literacy, Investment Behaviour, Online Information, Risk Perception,
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