Empirical Analysis of Factors Influencing the Behavioral Intention to Use Cryptocurrency Among Mongolian Customers: Extended UTAUT2 Model
Year: 2025
Type: article
Study design: Observational Study
Abstract: This study aims to determine factors that influence Mongolian customers’ intention to use cryptocurrency, which is a virtual currency created by fast-growing technology. For the theoretical framework, the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) along with received risk and financial literacy was used. Data in this study were collected by conducting survey questionnaires from cryptocurrency users of cryptocurrency platforms in Mongolia. Analyzing the data which consists of 720 valid datasets was accomplished by using SmartPLS software. The results of partial least squares structural equation modeling (PLS-SEM) showed that behavioral intention to use cryptocurrency is significantly and positively influenced by performance expectancy, price value, perceived risk, hedonic motivation, and facilitating conditions. In contrast, financial literacy has a significant negative impact on the behavioral intention to use cryptocurrency. The other two variables, effort expectancy and social influence, have no impact on cryptocurrency use. The proposed model explains 59.3% of the total variance in intention to use cryptocurrency among Mongolian customers. The outcomes of our study hold noteworthy implications for policymakers, individual users, and stakeholders within the cryptocurrency domain, as well as researchers engaged in scholarly investigations within this field. JEL Classification : G4, G11.
Source: SAGE Open
Authors: Delgertsetseg Delgerjargal, Delgertsetseg Delgerjargal, Ankhbileg Khurelbaatar, Delgerbayar Delgerjargal, Delgerbayar Delgerjargal
Institution: National University of Mongolia
Language: English
Subfield: Information Systems and Management
Field: Decision Sciences
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,600
OpenAlex ID: W4409387068