This study sought to fill research gaps by exploring consumers’ paradoxically declining trust in cryptocurrencies despite stable purchase intentions and examining how trust in cryptocurrency adoption and trust-enhancing mechanisms influence consumer behavior.
The mixed-methods approach combined qualitative and quantitative analyses. Study One included structured interviews with 50 consumers to explore drivers, barriers and factors affecting cryptocurrency adoption. Study Two relied on data from a questionnaire survey and structural equation modeling to test the hypotheses.
The results confirm that anxiety weakens trust in cryptocurrency while facilitating conditions, social influence and ethical considerations strengthen this trust. Trust in cryptocurrencies’ worth also positively affects consumers’ intention to use this medium of exchange. The study also reveals that perceived risk moderates the relationship between trust in cryptocurrency and intention to use.
This study applied mixed methods to comprehensively analyze cryptocurrency adoption and trust and produce a nuanced understanding of related behavior. The findings connect theories with cryptocurrency adoption contexts to clarify what drives consumer comportment.
