Exploring Cryptocurrency Adoption: A Study of Intention among Users

Abstract

This study aims to comprehensively investigate the determinants of cryptocurrency adoption. Employing a structured questionnaire, the research assesses factors influencing individuals’ willingness to embrace cryptocurrencies, utilizing the Unified Theory of Acceptance and Use of Technology (UTAUT) model. The study considers key determinants, namely performance expectancy, effort expectancy, social influence, and facilitating conditions. Employing quantitative analysis, the study focuses on a 272 sample of Lebanese participants, revealing significant effects of effort expectancy, financial literacy, perceived trust, personal innovativeness, and price value on the intention to use cryptocurrencies. The findings contribute both managerial and theoretical insights, offering guidance to enhance strategies for fostering cryptocurrency adoption.