Bridging the adoption gap for cryptocurrencies

Understanding the Affordances That Impact Approach–avoidance Behavior for Potential Users and Continuation Usage for Actual Users

Bibliographic Data

ID7155685
AuthorsMilad Armani Dehghani (0000-0002-6646-2326, Nottingham Trent University), Dionysios Karavidas (0000-0003-3349-6834, University College Cork), Alexandra Rese (0000-0001-6751-4418, University of Bayreuth), Fulya Acikgoz (0000-0003-0357-3771, University of Bristol)
Year2025
Volume38
Issue1
Pages497-530
Publication date2025-01-08
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueInformation Technology and People (JOURNAL)
Journal identifiersISSN: 0959-3845 • E-ISSN: 1758-5813
PublisherEmerald (PUBLISHER)
DOI10.1108/itp-10-2022-0821
OpenAlexW4388101137
LanguageEN
Citations received6
References cited91

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

Affordance · Cognitive psychology · Computer security · Cryptocurrency · Originality · Structural equation modeling · Blockchain Technology Applications and Security · Computer Science · Digital Marketing and Social Media · Psychology · Social Psychology · Technology Adoption and User Behaviour

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