  The fast-growing cryptocurrency sector presents both challenges and
opportunities for businesses and consumers alike. This study investigates the
knowledge, expertise, and buying habits of people who shop using
cryptocurrencies. Our survey of 516 participants shows that knowledge levels
vary from beginners to experts. Interestingly, a segment of respondents, nearly
30%, showed high purchase frequency despite their limited knowledge. Regression
analyses indicated that while domain knowledge plays a role, it only accounts
for 11.6% of the factors affecting purchasing frequency. A K-means cluster
analysis further segmented the respondents into three distinct groups, each
having unique knowledge levels and purchasing tendencies. These results
challenge the conventional idea linking extensive knowledge to increased
cryptocurrency usage, suggesting other factors at play. Understanding this
varying crypto-shopper demographic is pivotal for businesses, emphasizing the
need for tailored strategies and user-friendly experiences. This study offers
insights into current crypto-shopping behaviors and discusses future research
exploring the broader impacts and potential shifts in the crypto-consumer
landscape.
