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Gamification and Gaming in Cryptocurrency Education: A Survey with Cryptocurrency Investors and Potential Investors

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  • Hilda Hadan
  • Leah Zhang-Kennedy
  • Lennart Nacke
  • Ville Mäkelä

Abstract

Introduction In recent years, cryptocurrency has increasingly sparked interest among investors. Many people have invested in this field without adequate knowledge. Existing research has shown that using game design elements can be an effective method of education. Such learning interventions can potentially be a good match for educating market investors, as they provide risk-free simulations for novice investors to gain practical experience without having to be concerned about real financial losses. However, it is unclear how market investors perceive gamified and game-based learning interventions and whether they would adopt them for cryptocurrency education. Research Objectives Our study investigated market investors’ perceptions, needs and expectations regarding the integration of gamification and game-based learning interventions in cryptocurrency education . Methodology We conducted an online survey with n=413 participants, including experienced market investors and people who are interested in cryptocurrency. Within the survey, we presented the mock-ups of two cryptocurrency learning interventions: a gamified cryptocurrency learning application, and a cryptocurrency learning video game. Results From market investors’ perspectives, our study revealed the benefits and drawbacks of incorporating gamification and game design principles to facilitate learning cryptocurrency. We identified the need to develop dynamic, accessible, reliable, and community-building gamified and game-based cryptocurrency learning interventions. Conclusion From our findings, we propose guidance for the integration of gamification and games in cryptocurrency education, and we provide design recommendations for investor-specific cryptocurrency learning interventions.

Suggested Citation

  • Hilda Hadan & Leah Zhang-Kennedy & Lennart Nacke & Ville Mäkelä, 2024. "Gamification and Gaming in Cryptocurrency Education: A Survey with Cryptocurrency Investors and Potential Investors," Simulation & Gaming, , vol. 55(2), pages 196-223, April.
    • Handle: RePEc:sae:simgam:v:55:y:2024:i:2:p:196-223
    DOI: 10.1177/10468781231223762
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    References listed on IDEAS

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    1. Fred D. Davis & Richard P. Bagozzi & Paul R. Warshaw, 1989. "User Acceptance of Computer Technology: A Comparison of Two Theoretical Models," Management Science, INFORMS, vol. 35(8), pages 982-1003, August.
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