IDEAS home Printed from https://ideas.repec.org/a/eme/jrfpps/jrf-10-2021-0169.html
   My bibliography  Save this article

Understanding the adoption of cryptocurrencies for financial transactions within a high-risk context

Author

Listed:
  • Amal Dabbous
  • May Merhej Sayegh
  • Karine Aoun Barakat

Abstract

Purpose - Cryptocurrencies such as bitcoins represent a novel method of conducting financial transactions and exchanging money. However, their adoption by the general public remains low. Within countries facing financial distress and characterized by a high level of risk, cryptocurrency adoption might offer opportunities for countering crises. The purpose of this study is to explore the factors that influence individuals' adoption of cryptocurrencies for financial transactions within a high-risk context. Design/methodology/approach - To do so, it presents a behavioral model, which is tested using data collected from a survey of 255 respondents residing in Lebanon. The causal relationships between the different factors and individuals' willingness to use cryptocurrencies were then analyzed through Structural Equation Modeling. Findings - Findings show that financial technology awareness and social influence contribute to reducing perceived risk and increasing individuals' willingness to use cryptocurrencies, while individuals' risk aversion and the presence of regulatory support increase the perceived risk of cryptocurrencies. Originality/value - The study is among the first to use a human-centered approach to understanding cryptocurrency adoption and takes place within a country that is facing a deep financial crisis. Its outcomes contribute to existing theories of cryptocurrency adoption and provide policymakers with insight into how adoption is unfolding namely in developing countries.

Suggested Citation

  • Amal Dabbous & May Merhej Sayegh & Karine Aoun Barakat, 2022. "Understanding the adoption of cryptocurrencies for financial transactions within a high-risk context," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 23(4), pages 349-367, May.
    • Handle: RePEc:eme:jrfpps:jrf-10-2021-0169
    DOI: 10.1108/JRF-10-2021-0169
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/JRF-10-2021-0169/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/JRF-10-2021-0169/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/JRF-10-2021-0169?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yongzhi Gong & Xiaofei Tang & En-Chung Chang, 2023. "Group norms and policy norms trigger different autonomous motivations for Chinese investors in cryptocurrency investment," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    2. Arpaci, Ibrahim, 2023. "Predictors of financial sustainability for cryptocurrencies: An empirical study using a hybrid SEM-ANN approach," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    3. Awais, Minahil & Afzal, Ayesha & Firdousi, Saba & Hasnaoui, Amir, 2023. "Is fintech the new path to sustainable resource utilisation and economic development?," Resources Policy, Elsevier, vol. 81(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jrfpps:jrf-10-2021-0169. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.