Factors Affecting Respondents' Attitudes Towards Using Digital Currencies in Bahrain

DOI: 10.46988/IJMMC.05.02.2023.07

Abstract

New forms of technology now allow for more secure and seamless use of digital money. Digital money can be transferred and exchanged with technologies like credit cards, smartphones, and online cryptocurrency exchanges. The purpose of this article is to explore the respondents’ knowledge about digital currencies. In addition, it investigates the factors that influence respondents’ attitudes towards the use of digital currency. Lastly, the study attempts to examine respondents' intent to use digital currency in the future. A cross-sectional online questionnaire-based survey design was used with a non-probability sample to explore the respondents’ perceptions of the above-mentioned aims. A total of 400 self-selected cases from Bahrain was investigated. More specifically, this study showed an increase in the total percentage of respondents’ knowledge about digital currencies, as the weighted average of the sample's knowledge was 1.68 out of 3, with a percentage of 56%. Moreover, the results indicated that most respondents believed that perceived usefulness is the most important factor for using digital currencies in online financial transactions. Then perceived ease of use, perceived enjoyment, web skills, and perceived control, respectively. Furthermore, the results showed an increase in the total percentage of respondents’ intention to use digital currencies in the future, as the weighted average of the sample's intentions was 2.10 out of 3, with a weighted percentage of 70%. With these findings, the study has important significance for academics by filling a vacuum in the literature regarding the variables influencing commercial adoption of digital currencies, as well as for practitioners in terms of decision-making on their acceptance and use.