The Impact of Knowledge and Experience on Opinion Formation: The Case of Cryptocurrencies


  • Monika Eisenbardt University of Economics in Katowice
  • Tomasz Eisenbardt University of Warsaw, Warsaw, Poland



experience with cryptocurrencies, knowledge, perceived benefits, perceived disadvantages, cryptocurrencies, opinion formation


The aim of this paper was to investigate the influence of knowledge and experience in a specific domain on the formation of opinions regarding a particular issue. The research focused on cryptocurrencies, chosen due to their relatively new and unexplored nature in terms of opinion formation. A survey questionnaire was used to collect data from 778 university students, which were then analyzed using the SmartPLS package. The survey was conducted in Poland, a country where cryptocurrencies are treated relatively neutrally, not being banned but also not widely accepted as a means of payment. The main research question addressed whether previously acquired knowledge and experience with cryptocurrencies impact opinion formation. Four latent variables were examined: Experience, Perceived Benefits, Perceived Disadvantages, and Opinion Formation. The findings reveal that Experience has the strongest influence on Opinion Formation, followed by Perceived Benefits, which has a positive effect, and Perceived Disadvantages, which has a negative effect. Therefore, the hypotheses were supported, indicating a positive association between Perceived Benefits and Opinion Formation (H1), as well as between respondents' Experience with cryptocurrencies and Opinion Formation (H3). Additionally, H2 was supported, indicating a negative association between Perceived Disadvantages and Opinion Formation. Our research results enrich the literature, particularly in the field of interdisciplinary approaches to cryptocurrencies, knowledge, and experience.