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Factors influencing the adoption of cryptocurrency in Bangladesh: an investigation using the technology acceptance model (TAM)

Hasibul Islam (Department of Business Administration, NPI University of Bangladesh, Manikganj, Bangladesh)
Masud Rana (Department of Business Administration, Pabna University of Science and Technology, Pabna, Bangladesh)
Shimanto Saha (Department of Business Administration, Mawlana Bhashani Science and Technology University, Tangail, Bangladesh)
Taslima Khatun (Department of Business Administration, Mawlana Bhashani Science and Technology University, Tangail, Bangladesh)
Mustari Rahman Ritu (Department of Business Administration, Mawlana Bhashani Science and Technology University, Tangail, Bangladesh)
Md. Rashidul Islam (Department of Business Administration, Mawlana Bhashani Science and Technology University, Tangail, Bangladesh)

Technological Sustainability

ISSN: 2754-1312

Article publication date: 19 October 2023

Issue publication date: 30 October 2023

280

Abstract

Purpose

Using the technology acceptance model (TAM), this study investigates factors influencing the adoption of cryptocurrency in Bangladesh.

Design/methodology/approach

Data were collected from 346 members of the general public through a structured web survey using snowball sampling. Structural equation modeling was used to analyze the data and assess the reliability and validity of the measurement model.

Findings

The results show that knowledge of cryptocurrency, benefits of use (perceived usefulness), attitude and challenges all have a significant impact on the adoption of cryptocurrency.

Research limitations/implications

This study was conducted in a single country, relied on self-reported data and used a cross-sectional design, which limits the ability to draw causal inferences. Future research could explore the factors that influence the adoption of cryptocurrency in different countries and regions and incorporate additional variables to provide a more comprehensive understanding of the drivers of intention to use cryptocurrency.

Originality/value

This study contributes to understanding the factors driving the adoption of and intention to use technology-based services, providing insights that can inform the design and implementation of future technology-based services.

Keywords

Acknowledgements

The authors extend sincere appreciation to Dr Cem Işık and Dr Jhansi Bharathi Bharathi Madavarapu for their invaluable guidance and expertise, which significantly contributed to the enhancement of the quality of this paper. Their constructive suggestions were instrumental in shaping the content and presentation of this work, elevating its overall scholarly merit. Their dedication to scholarly excellence and willingness to share their knowledge have been pivotal in enriching the substance and rigor of our research. The authors are truly grateful for their unwavering support and mentorship throughout this endeavor. The authors thank research associate Muhammad Imran Shorif for the support provided.

Citation

Islam, H., Rana, M., Saha, S., Khatun, T., Ritu, M.R. and Islam, M.R. (2023), "Factors influencing the adoption of cryptocurrency in Bangladesh: an investigation using the technology acceptance model (TAM)", Technological Sustainability, Vol. 2 No. 4, pp. 423-443. https://doi.org/10.1108/TECHS-07-2023-0025

Publisher

:

Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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