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Investigating Consumers’ Attitudes on Cryptocurrency Usage as an Online Shopping Payment Method in the City of Izmir

Author

Listed:
  • Mesut Fenkli

    (Manisa Celal Bayar University, Institute of Social Sciences Economics Department, Manisa, Turkiye)

  • Ayse Nur Cirak

    (Manisa Celal Bayar University, Institute of Social Sciences Economics Department, Manisa, Turkiye)

  • Serhat Soylu

    (Izmir Katip Celebi University, Graduate School of Natural and Applied Sciences Department of Transformation, Izmir, Turkiye)

Abstract

Cryptocurrencies that are not affiliated with any certain institution or organization are currencies that cannot be physically held but can be converted into physical currency. The first cryptocurrency appeared in 2009, and since then, the intense interest in cryptocurrency around the world has led to the emergence of 10,266 different types of cryptocurrencies. Due to the intense interest in cryptocurrencies in recent years, this study, investigates consumers’ attitudes towards the use of cryptocurrencies as a payment method for online shopping based on the technology acceptance model (TAM). The study’s data were collected using the survey method applied to 212 participants in Izmir. According to the independent t-test and ANOVA applied to the obtained data, participants’ gender, educational status and occupational status were seen to not result in any were seen to not result in any significant difference regarding attitudes toward using cryptocurrencies, while their age and income status resulted in significant differences regarding their attitude. In addition, the hypotheses created for the research were tested by estimating the structural equation model (PLS-SEM), and the factors of convenience, trust, and benefit were determined to be positively related to attitude, while the factor of risk determined to be negatively related to attitude.

Suggested Citation

  • Mesut Fenkli & Ayse Nur Cirak & Serhat Soylu, 2023. "Investigating Consumers’ Attitudes on Cryptocurrency Usage as an Online Shopping Payment Method in the City of Izmir," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 73(73-1), pages 143-184, June.
    • Handle: RePEc:ist:journl:v:73:y:2023:i:1:p:143-184
    DOI: 10.26650/ISTJECON2022-1132199
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    More about this item

    Keywords

    Cryptocurrency; Online shopping; Payment; Technology acceptance model; Consumer attituded JEL Classification: E22; E44; E51;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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