Why do people choose to continue using cryptocurrencies?

Abstract

This study empirically explores the determinants that impact the intention to continue using cryptocurrencies. It also examines the potential impact of financial literacy on the perceived value and optimism associated with cryptocurrencies. Data was collected from 386 participants in Jordan through a questionnaire. The research model was assessed, and hypotheses were tested using Smart PLS. However, the outcome of the path analysis confirmed that perceived value, optimism, and cryptocurrency addiction are significant determinants of continued cryptocurrency usage intention. This study also revealed that financial literacy increases optimism and perceptions of cryptocurrency value. Furthermore, the path analysis shows that the intention to continue cryptocurrency usage is not conditional on trust. These findings add to the literature and theory of cryptocurrency adoption by providing new insights and an advanced understanding of the determining factors of intention to continue cryptocurrency usage. It also improves our understanding of how investors think and their motives for investing in cryptocurrency markets, which helps cryptocurrency companies in promoting their continued use.