Understanding the Drivers of Cryptocurrency Acceptance: An Empirical Study of Individual Adoption

Abstract

Cryptocurrencies offer a novel approach to finance by eliminating the need for traditional banking and enabling secure, traceable, and internet-accessible peer-to-peer transactions. However, despite their advantages, cryptocurrencies face persistent trust issues and low levels of engagement and awareness. This research aims to investigate individuals’ behavioral intentions to use cryptocurrencies and identify factors influencing technology adoption. Employing a qualitative meta-analytic approach, a new predictive model was proposed, drawing from TAM, UTAUT, and IDT theories. A survey administered in Hungary utilized Partial Least Squares Structural Equation Modelling (PLS-SEM) for data analysis, identifying social influence, facilitating conditions, and awareness as key factors impacting perceived ease of use (PEOU) and perceived usefulness (PE).