Evaluating the Mediating Mechanism of Perceived Trust and Risk toward Cryptocurrency: An Empirical Research

Untung Rahardja, Shih-Chih Chen, Yu-Chun Lin, Tsung-Chieh Tsai, Qurotul Aini, Asif Khan, Fitra Putri Oganda, Elisa Royani Dewi, Ying-Chieh Cho and Chung-Hao Hsu

SAGE Open, 2023, vol. 13, issue 4, 21582440231217854

Abstract: In recent years, investing in cryptocurrencies has become a fad worldwide. However, fewer studies have explored the intention of using cryptocurrencies. Different from traditional financial commodities, cryptocurrencies have a unique appeal. Therefore, this study uses technology mindfulness, technology readiness, and financial literacy, and through perceived trust and perceived risk, to understand users’ intentions to use cryptocurrencies. The respondents to this study were cryptocurrency owners or those having financial investment experience. A total of 337 valid samples were obtained and analyzed by the partial least square-structural equation model (PLS-SEM) method. The results showed that technology mindfulness and negative technology readiness significantly impacted perceived trust and perceived risk. On the other hand, perceived trust and perceived risk significantly impacted the intention to use. Finally, this study proposes theoretical and practical implications which can help cryptocurrency trading platforms understand the motivations of potential and existing users. Finally, this study can also serve as a reference for cryptocurrency trading service providers to develop marketing strategies.

Keywords: adoption of cryptocurrency; blockchain; technology mindfulness; technology readiness; financial literacy; perceived trust; perceived risk (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:13:y:2023:i:4:p:21582440231217854

DOI: 10.1177/21582440231217854

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