Consumers are more likely to buy cryptocurrencies when they see them as easy to use, trustworthy, and beneficial, according to research in the International Journal of Blockchains and Cryptocurrencies, which has used the Technology Acceptance Model as a framework to examine perception and adoption.
The team analysed survey data using partial least squares structural equation modelling (PLS-SEM). This statistical approach can test relationships between various factors simultaneously. This allowed the researchers to discern that perceived ease of use, trust, and benefits all had significant direct effects on a consumer's intention to buy cryptocurrency. Trust showed the strongest relationship, followed by ease of use, and finally benefits. Perceived risk reduced perceptions of benefit, but this link was not statistically significant, the team reports.
The findings suggest that concerns over volatility, cybersecurity, and the minimal regulation surrounding cryptocurrencies do not necessarily deter buyers if the platforms are seen as reliable and straightforward to use. The researchers argue that consumers are more likely to recognise advantages such as lower transaction costs, borderless payments, and investment portfolio diversification when they trust the technology and can navigate it easily.
The study has implications beyond cryptocurrency markets as governments and financial regulators consider how to oversee such digital assets. The authors recommend that there should be put in place clearer investor-protection rules, standardised compliance procedures, and enforcement of ethical marketing to reduce systemic financial risks.
They also argue that digital platform providers should prioritise stronger cybersecurity, transparent fee disclosures, and accessible interfaces to strengthen user confidence while protecting financial and personal data.
Reviewed by Irfan Ahmad.
This article was originally published by Inderscience and republished on DIW with permission.
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