Financial Technologies for Accepting Transaction Using Cryptocurrency

Abstract

Cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are few examples of revolutionary Financial Technologies (FinTech) that are rapidly entering the finance market and transforming the global economy's power. Recently, cryptocurrency technology as an innovative technology has attracted attention and spread. Cryptocurrencies known as virtual currencies that have been widely used to buy and sell products and services over the internet, as well as a popular asset for hedging and speculation. However, current study and statistic shows that customers have high level of awareness but low acceptance towards cryptocurrency. In addition, the number of studies on cryptocurrency adoption in Malaysia also very less. Therefore, the aim of this study is to examines the accepting financial transaction using cryptocurrency from a customer perspective. The outcome of this study shows that (i) security and perceived ease of use are having a significant relationship with behavioral intention towards acceptance of cryptocurrency transactions; (ii) perceived trust and social influence are having no significant relationship with behavioral intention towards acceptance of cryptocurrency transactions. This study is important because it will help investors and potential customers to increase their knowledge in using and adopt cryptocurrency in their transaction.