Risky? So, why people are getting back to invest in cryptocurrencies? The United Arab Emirates as a case

Document Type

Article

Source of Publication

Kybernetes

Publication Date

1-1-2023

Abstract

Purpose: The purpose of this paper is to investigate the determinants of users' intention to continue to invest in cryptocurrencies. The paper also aims to examine the impact of hedonic motivation and the legal environment on perceived value in cryptocurrencies. Design/methodology/approach: A questionnaire was designed to obtain data from 258 respondents in UAE. The Structural Equation Modeling – Partial Least Squares (SEM-PLS) was used to evaluate the research model and test the hypotheses. Findings: The results of smart PLS path analysis showed that perceived value, hedonic motivation, gambling attitude, and price volatility were significant determinants of the continued intention to invest in cryptocurrency. This study also revealed that hedonic motivation enhances perceived value and improves the perception of cryptocurrencies value from user's perspective. Originality/value: This study provides new insights into the literature on cryptocurrencies adoption, and delivers advanced understanding about the determinants of user's intention to continue investing in cryptocurrencies. In addition, the study provides important practical implications for cryptocurrencies companies to promote this financial technology to users by enhancing the knowledge of policy makers about how investors think and get motivated towards a continued investment of cryptocurrencies.

ISSN

0368-492X

Publisher

Emerald

Disciplines

Business | Computer Sciences

Keywords

Cryptocurrencies, Fintech, Gambling attitude, IT adoption, Legal environment, Perceived value, Price volatility

Scopus ID

85165625707

Indexed in Scopus

yes

Open Access

no

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