Perceived Influence of Digital Currency Literacy Towards Students' Buying Behavior Online: An Input to Fintech Institutions and Small-scale Business Enterprises

The present study included a blend of quantitative and qualitative research methods. The influence of digital money on financial accounts and transactions was investigated by researchers using a survey instrument. The main participants of the study were individuals enrolled as students who knew about the use of digital money. To improve the quality of the qualitative data, specific inquiries were conducted with experts in the fields of digital currency, accounting, and finance to establish its validity and reliability. The research findings suggest that many people know the notion of digital money. The use of digital currency has several potential advantages, including but not limited to cost reduction, improved financial management functionalities, and heightened security in investment transactions, overcoming the dependence on conventional middlemen. However, the lack of centralized supervision over digital currency makes it vulnerable to being used for fraudulent operations and criminal financial transactions, such as money laundering. Digital money facilitates the uninterrupted supply of financial services, devoid of temporal limitations, functioning round the clock throughout the week. The need for individuals residing in distant areas to avail themselves of this service arises from the possible shortage or limited operational hours of local bank branches. Numerous digital payment systems include encryption and authentication methods. The establishment of trust plays a critical role in ensuring the security of money transfer procedures. Using digital money enables the augmentation of financial administration and monitoring functionalities. Cashless techniques in financial transactions facilitated by digital platforms prevent the need for tangible money and alleviate the accompanying risks. Using digital money can enable smaller financial institutions to aid countries experiencing hardship. The finance discipline plays a crucial role in reducing the activities of saving, spending, and promoting economic development.