Bridging the adoption gap for cryptocurrencies: understanding the affordances that impact approach–avoidance behavior for potential users and continuation usage for actual users

Title data

Dehghani, Milad Armani ; Karavidas, Dionysios ; Rese, Alexandra ; Acikgoz, Fulya:
Bridging the adoption gap for cryptocurrencies: understanding the affordances that impact approach–avoidance behavior for potential users and continuation usage for actual users.
In: Information Technology & People. (31 October 2023) . - pp. 1-34.
ISSN 0959-3845
DOI: https://doi.org/10.1108/ITP-10-2022-0821

Official URL:

Abstract in another language

Purpose
With the rise of cryptocurrency and its influence on the financial industry, this paper aims to explore cryptocurrency affordances that lead to approach–avoidance behavioral intentions for non-users (potential) and the intention to continue use for users (actual), drawing upon affordance theory and chasm theory.

Design/methodology/approach
The authors collected data from 480 potential and actual users in Germany and used maximum likelihood structural equation modeling (ML-SEM) to analyze it. In particular, the data consisted of 301 cryptocurrency users in Germany\ the authors used ML-SEM to test the post-adoption model. Additionally, logistic regression was utilized to determine the dominant actual usage method (store of value or medium of exchange) for various cryptocurrency coins.

Findings
According to the study's results, the perceived value benefits have a positive impact on the behavioral intention of potential users to adopt cryptocurrency, and they influence the intention of actual users to continue using it. However, both perceived volatility and financial risk tolerance are the most crucial factors hindering cryptocurrency adoption, whether in the pre-adoption or the post-adoption stage.

Originality/value
This is the first study to reveal cryptocurrency affordances and examine their effect on behavioral intentions toward cryptocurrency adoption based on the differences between non-users (potential) and users (actual). Furthermore, the authors explore how cryptocurrency holders perceive and invest in different coins (e.g. NFTs), which sheds light on factors such as financial risk tolerance that affect their decision making.

Further data

Item Type:	Article in a journal
Refereed:	Yes
Keywords:	Crypotcurrency adoption; Affordances; Crossing the chasm; Store of value; Payments; Bitcoin; Altcoins
Institutions of the University:	Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XIV - Marketing and Innovation
Result of work at the UBT:	Yes
DDC Subjects:	300 Social sciences > 330 Economics 300 Social sciences > 380 Commerce, communications, transportation
Date Deposited:	06 Dec 2023 06:33
Last Modified:	06 Dec 2023 06:33
URI:	https://eref.uni-bayreuth.de/id/eprint/87978