Bitcoin Adoption: An Empirical Study on User Behaviour in Ghana

Abstract

<strong>Abstract:</strong> The hype and disruptive nature of cryptocurrencies have attracted much attention in research fields and huge industrial revolutions, and many Bitcoin success stories amidst the cons of the technology. The disparity between technological adoption between developed economies and developing economies further deepens research. Many research focuses on the security, nature and/ evolution of Bitcoin, user adoption process, etc., in the developed economies in Europe and America with not enough studies on Bitcoin adoption and development in Sub-Saharan Africa, a hub of developing economies. This study seeks to examine the user behaviour to Bitcoin adoption, determining factors in Ghana It adapts the Unified Theory of Acceptance and Use of Technology model 2 (UTAUT2,) extending it with Perceived Trust, and Perceived Risk to develop the research hypothesis. To the Ghanaian consumer, there are no moderating effects of Age and Gender on Price Value (PC) and Facilitating Conditions (FC). Performance Expectation (PE), Effort Expectation (EE), Perceived Risk (PR), Perceived Trust (PT), Price Value (PV) had a significant influence on Behavioural intention to use Bitcoin. The research survey considers both users/investors and non/potential users using identified Bitcoin-focused platforms as a base for the snowball survey providing insights into the user behaviour to Bitcoin adoption and the general Bitcoin phenomenon in Ghana <strong>Keywords:</strong> Bitcoin, Digital Currency, Blockchain, Ghana, Innovations, UTAUT 2, SEM. <strong>Title:</strong> Bitcoin Adoption: An Empirical Study on User Behaviour in Ghana <strong>Author:</strong> Gideon Kinnah <strong>International Journal of Novel Research in Humanity and Social Sciences</strong> <strong>ISSN 2394-9694</strong> <strong>Vol. 9, Issue 3, May 2022 - June 2022</strong> <strong>Page No: 29-45</strong> <strong>Novelty Journals</strong> <strong>Website: www.noveltyjournals.com</strong> <strong>Published Date: 10-June-2022</strong> <strong>DOI: https://doi.org/10.5281/zenodo.6631557</strong> <strong>Paper Download Link (Source)</strong> <strong>https://www.noveltyjournals.com/upload/paper/Bitcoin%20Adoption%20An%20Empirical-10062022-4.pdf</strong>