Study on the Behavioral Intention to use Cryptocurrency Market among Non-State University Students in Sri Lanka

Abstract

The rise of cryptocurrency in the modern digital economy is relatively new and evolving rapidly. Due to the intricate structure and insufficient knowledge about cryptocurrencies, it's use is limited to industrialized countries. The study consists of four independent variables: awareness, trust, ease of use, and risk. The dependent variable is cryptocurrency behavioral intention. A survey of 380 undergraduates is undertaken to get information on respondents' perceptions of cryptocurrency's attributes and their intention to invest in it in the future. Pearson Correlation analysis is being utilized to study the relationship between awareness, trust, ease of use, risk, and behavioral intention of cryptocurrencies as the major purpose. The dependent variable and Cryptocurrency Factors have a positive relationship, with a 0.01 level of significance for correlation. We adopted snowball sampling technique as the survey's sample design based on survey's results. Furthermore, the data is analyzed for reliability and validity using AMOS statistical software. Two of the four hypotheses were not supported while the other two were significantly supported. The study's findings enhance to undergraduates' potential investment opportunities in cryptocurrency and validate the level of accuracy of cryptocurrency knowledge among undergraduates in developing countries. By studying human behavior, researchers can better predict the prospects for future cryptocurrency adoption and success.