The Perception of Cambodian Users Towards Cryptocurrency Exchange Application
Keywords:
Crypto-Exchange Application, Cryptocurrency, Perception, UsersAbstract
This research aimed to investigate the factors that influenced the adoption of Cryptocurrency Exchange Applications (CEA) in Cambodia, specifically in terms of behavioral intentions and user behaviors towards users. An empirical study was conducted, utilizing an established technology acceptance model, namely the Unified Theory of Acceptance and Use of Technology (UTAUT), along with its extension, the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). Trust was also included as an external variable under the UTAUT2 model to provide additional insights into the study. A quantitative method was employed, with 400 respondents through Google survey questionnaires from Crypto- and Blockchains-Community Social Media Channels in Cambodia. The obtained results were analyzed using the advanced license program, “Smart-PIs 4.0”, generating support for each construct model. PLS-SEM was also used to measure the reliability and validity of hypothesized variables. The study revealed that Habit (HT), Performance Expectancy (PE), and Trust (TR), except Effort Expectancy (EE), Facilitating Conditions (FCs), Hedonic Motivation (HM), Perceived Value (PV), and Social Influence (SI) significantly influenced the adoption of Cryptocurrency Exchange Application in Cambodia. The author also discussed the theoretical and managerial implications, limitations, and recommendations for future research. The findings of this study provided valuable insights for individuals and organizations involved in the adoption of cryptocurrency and related applications in Cambodia. This study was limited by legal considerations; however, it was observed that the government of Cambodia has expressed a favorable stance toward the legalization and regulation of cryptocurrencies and underlying blockchain technology.
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