Cryptocurrency consciousness and adoption

Consciousness performs a pivotal position within the acceptance and adoption of recent applied sciences. Tracing again to diffusion innovation concept, consciousness is taken into account the preliminary section, essential for the success of subsequent adoption phases (Lu et al., 2022). Constructing on this foundational understanding, research inspecting know-how implementation have reaffirmed the constructive affiliation between consciousness ranges and attitudes towards novel applied sciences (Arpaci et al., 2023).

A person’s consciousness encapsulates their comprehension of its benefits, potential drawbacks, and sensible strategies for its utilization (Zou et al., 2023). Consequently, the depth of an individual’s consciousness usually sways their perceptions and, extra critically, their readiness to undertake. A compelling parallel may be present in behavioral intention, a metric that gauges the probability of customers participating in a particular motion. This metric performs a decisive position in each the willpower to combine cryptocurrency into one’s monetary portfolio (Li, 2023). Traditionally, a sturdy behavioral intention has been a harbinger of profitable know-how adoption, diminishing the chance of committing to unsuitable or inferior improvements (Mizanur and Sloan, 2017; Siagian et al., 2022).

Current empirical proof corroborates this relationship between consciousness and adoption. For example, (Kakinaka and Umeno, 2022) highlighted that heightened consciousness invariably bolstered constructive intentions towards know-how adoption. This intrinsic connection between cognitive consciousness and behavioral outcomes serves as a cornerstone of our investigation. Intriguingly, the affiliation between self-conceptualized know-how consciousness and conduct will not be merely anecdotal however is underpinned by empirical research. For instance, (Gupta and Arora, 2020) underscored how nuanced know-how consciousness might form people’ propensity to assimilate cryptocurrency into their monetary actions.

Given the growing emphasis on behavioral intention as a dependable predictor of know-how adoption (Nadeem et al., 2021) our research delves into the interaction between know-how consciousness and the predisposition towards digital belongings like cryptocurrency. In gentle of the aforementioned dialogue and supporting proof, we suggest the next speculation:

H1. Cryptocurrency consciousness exerts a constructive affect on cryptocurrency adoption.

The mediating position of cryptocurrency ease of use

Ease of use stands as a pivotal think about figuring out the adoption of recent applied sciences (Lim, 2018). The extra intuitive and simple a know-how seems, the upper the probability of its widespread acceptance (Sagheer et al., 2022). As a know-how’s usability turns into evident, people are extra inclined to combine it into their routine. This notion is central to TAM, which has been extensively acknowledged within the tech area (Sudzina et al., 2023).

The emphasis on ease of use stems from a must create applied sciences which might be accessible, responsive, and adaptable. When folks discover a know-how to match these standards, they’re extra inclined to undertake that know-how. It’s about assembly the wants of customers with out inundating them with pointless complexity (Nadeem et al., 2021). Whereas over-simplification would possibly often deter utilization, environment friendly instruments that streamline processes typically obtain customers’ approval (Wibasuri, 2022).

Historic proof suggests a robust affiliation between ease of use and behavioral intentions towards the adoption of novel applied sciences. For example, Albayati et al. (2020) and Treiblmaier and Sillaber (2021) explored this connection, although solely Shahzad et al. (2018) supplied significantly insightful findings. Present research builds on this basis, investigating the idea that user-friendliness and effectivity in cryptocurrencies can improve consumer expertise and, consequently, adoption charges. Moreover, this research aligns with previous research (Siagian et al., 2022), emphasizing the connection between know-how consciousness and the intention to undertake the know-how. It acknowledges the very important position of ease of use as a bridge between these parts.

To this finish, quite a few research have already highlighted the profound affect of ease of use on shaping intentions in the direction of new technological integrations (Biswas et al., 2021; Chen and Aklikokou, 2020). With this context in thoughts, our research particularly delves into how bolstering ease of use can pave the best way for broader cryptocurrency adoption. Primarily based on the synthesis of the above discussions, we put forth:

H2. Cryptocurrency ease of use considerably mediates the connection between cryptocurrency consciousness and adoption.

The mediating position of cryptocurrency usefulness

Usefulness displays the customers’ perception that embracing a novel know-how will improve their efficiency (Davis, 1989; Lim, 2018). Prior research underscores that buyers usually tend to embrace cryptocurrency in the event that they deem it helpful (Kim et al., 2021). Traditionally, usefulness has been a cornerstone determinant of TAM, underscoring its centrality in assessing technological improvements (Fagan et al., 2012; Salas, 2020). Its position in info techniques, reminiscent of facilitating the convenience of adoption of cryptocurrency, is certainly substantial (Albayati et al., 2020).

As digital platforms burgeon, customers more and more derive their understanding of a know-how’s usefulness from these platforms. This sentiment aligns with our research’s emphasis: on-line platforms function a conduit by means of which individuals gauge the usefulness of cryptocurrency. The choice to have interaction with or chorus from know-how usually hinges on its utility (Theiri et al., 2022). Previous research has ventured into inspecting the position of usefulness in influencing behavioral intentions, however the findings have been combined, prompting additional inquiry (Basuki et al., 2022). For example, customers regularly endorse purposes which might be skillful, user-friendly, and competent, as these qualities usually correlate with the usefulness of the software (Granić and Marangunić, 2019). But, elements reminiscent of altering regulatory landscapes or environmental uncertainties can modulate customers’ perceptions of a know-how’s usefulness (Stocklmayer and Gilbert, 2002). Some prior research, curiously, have highlighted that buyers’ inclinations have been swayed extra by leisure values than sheer usefulness, illuminating the multifaceted nature of client engagement (Abdul-Rahim et al., 2022).

Literature has persistently underscored the symbiotic relationship between consciousness of know-how and its perceived usefulness in shaping behavioral intentions. Notably, Namahoot and Rattanawiboonsom (2022) contended that buyers discovered digital funds, together with these utilizing cryptocurrency, helpful. This assertion is buttressed by different research that emphasize the direct affect of technological consciousness on behavioral intention by means of the prism of usefulness (Almajali et al., 2022; Sagheer et al., 2022). Noteworthily, a survey by Chen and Aklikokou (2020) illuminated the mediating position of usefulness in amplifying adoption conduct. Delving deeper into this interaction Schaupp and Festa (2018) contemplated the convenience with which newcomers might undertake cryptocurrency, positing that these acquainted with digital currencies are naturally extra receptive, given the usefulness they derive from it. That is additional validated by research in China (Shahzad et al., 2018), which decided that usefulness was a constructive determinant for cryptocurrency adoption. In gentle of the aforementioned insights and findings, our speculation is articulated as:

H3. Cryptocurrency usefulness considerably mediates the connection between cryptocurrency consciousness and adoption.

The moderating position of cryptocurrency belief

Belief within the context of modern applied sciences refers to a client’s consolation, confidence, and assurance in its utilization (Quan et al., 2023). It’s a cornerstone of acceptance and adoption, figuring out whether or not people really feel safe in embracing new improvements (Akther and Nur, 2022). Over time, the evolution of social relationships has underscored the significance of constant belief when adopting new applied sciences (Matemba and Li, 2018). Research, reminiscent of these by Hasan et al. (2022), emphasised that heightened belief sometimes amplifies the adoption charge of applied sciences, particularly these of their nascent phases. By fostering belief in cryptocurrency, the current research seeks to pave the best way for its broader acceptance and adoption.

In digital commerce, the place intangibility is a given, belief is paramount. Such belief encourages customers to have interaction safely, decreasing uncertainties and reservations (Shin and Rice, 2022). Mutual belief between customers and suppliers is important. Belief solidifies user-provider relationships and ensures sustained confidence in new ventures (Sukumaran et al., 2022). Basically, reliable entities scale back dangers, propelling people to discover and undertake. Analysis has proven that these with a constructive inclination in the direction of digital applied sciences show a stronger affinity for acceptance, contingent upon elements like belief and related safety measures (Völter et al., 2021). That is corroborated by Utz et al. (2022) who posited that belief fortifies people’ intention to make use of blockchain, a know-how wherein cryptocurrency operates upon.

Furthermore, belief safeguards customers’ monetary and private info, symbolizing a heightened degree of confidence in cryptocurrency adoption (Tan and Saraniemi, 2022). A major commentary from previous research is that when consumer belief wanes, their threat aversion decreases, and so they grow to be extra inclined to pitfalls (Sukumaran et al., 2022). A pivotal level raised by researchers, reminiscent of McCloskey (2006), is that belief performs a determinative position in influencing a consumer’s notion of how simple and helpful a know-how is. Belief, due to this fact, emerges as a linchpin that shapes consumer conduct, particularly regarding ease of use and usefulness of know-how (Albayati et al., 2020; Deebak et al., 2022).

Within the midst of the prevailing discourse on know-how adoption, belief emerges as a vital determinant. The present research delves into the moderating position of belief, inspecting its affect on the connection between cryptocurrency consciousness, acceptance (ease of use, usefulness), and adoption. Our research seeks to make clear the nuances of this relationship, thereby enriching understanding and advancing the sphere. Particularly, belief in cryptocurrency is rooted in blockchain-based consensus protocols, reminiscent of proof of stake. This foundational belief enhances folks’s confidence to undertake cryptocurrency, with TAM predictors serving as key indicators of this belief chain. In gentle of those issues, the next hypotheses are proposed:

H4a. Cryptocurrency belief considerably moderates the connection between cryptocurrency consciousness, ease of use, and adoption.

H4b. Cryptocurrency belief considerably moderates the connection between cryptocurrency consciousness, ease of use, and adoption.

The conceptual framework, which depicts the hypothesized relationships, is offered in Fig. 1. Basically, cryptocurrency consciousness is predicted to form cryptocurrency adoption positively, with the convenience of use and usefulness of cryptocurrency mediating this relationship, and the belief in cryptocurrency strengthening these mediating relationships.