An empirical analysis of navigation behaviors across stock and cryptocurrency trading platforms: implications for targeting and segmentation strategies

This study examines and compares the behaviors of private investors in cryptocurrency stock trading platforms. To this end, we propose a Tobit model for who navigate across apps identify factors associated with platform usage. We apply our to unique mobile app usage data from August 2020 March 2021, covering two waves COVID-19 cxpandemic South Korea global speculative bubble. find that differ considerably, terms demographics as well such loss-aversion, optimism, addiction, herding, cross-trading, response pandemic. Our analysis also discovers potential competition between platforms targeting their customers, e.g., investors. Furthermore, reveal behavioral profiles segments stocks, so can discover them. offers important managerial implications platforms, target manage private-investor customers.