Title: An empirical investigation of the determinants influencing cryptocurrency adoption in Kuwait

Authors: Ahmed M. El-Morshidy; Issam A.R. Moghrabi; Mohamed M. Mostafa

Addresses: Accounting and MIS Department, College of Business, Gulf University for Science and Technology, Kuwait ' Accounting and MIS Department, College of Business, Gulf University for Science and Technology, Kuwait ' Business Admin Department, College of Business, Gulf University for Science and Technology, Kuwait

Abstract: Although cryptocurrency's popularity has increased exponentially, virtually no studies have investigated the factors influencing its adoption in developing countries. This study uses the unified theory of acceptance and use of technology (UTAUT) model and the technology acceptance model (TAM) to investigate consumers' intention to adopt cryptocurrencies in Kuwait. The variable sets considered included demographic variables such as gender, age, educational level, income, and several cognitive and attitudinal variables such as performance expectancy, effort expectancy, facilitating conditions, social influence, perceived usefulness, perceived ease of use, and attitudes. Based on a large sample of 462 respondents, the study employs hierarchical linear regression to show how it is possible to identify various dimensions of cryptocurrencies' intentional usage behaviours. For example, performance expectations, facilitating conditions, perceived usefulness, and perceived ease of use have been found to be positively linked to consumers' adoption of cryptocurrencies.

Keywords: cryptocurrencies; Bitcoin; technology acceptance model; TAM; Kuwait.

DOI: 10.1504/IJBIS.2024.139877

International Journal of Business Information Systems, 2024 Vol.46 No.2, pp.179 - 202

Received: 06 Aug 2020
Accepted: 08 Mar 2021
Published online: 09 Jul 2024 *

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