The Awareness of Cryptocurrency in Malaysia

Abstract

This research aims to highlight the key predictors that influence the perception of Malaysians towards cryptocurrency. The Unified Theory of Acceptance and Usage of Technology (UTAUT) was adopted in this research and the main constructs such as performance expectancy (PE), effort expectancy (EE), social influence (SI) and the extension of new variables such as trust (T), price value (PV) and behavioural intention (BI) were included in investigating the perception of Malaysians towards cryptocurrency. The sample size for this study was 219 Malaysians aged 18 years old and above. Descriptive research design has been carried out in this paper and primary data has been used and collected through the online questionnaire method. Other relevant and important information has also been reviewed and referred to in this paper. For the purpose of the analysis, statistical tools such as graphs, charts, reliability test, normality test, multicollinearity, multiple regression analysis and so on were used. Findings show that only 4 of the independent variables had a significant relationship towards the dependent variable of which the perception of Malaysians towards cryptocurrency. SI has been reported to have the greatest influence on the perception of Malaysians towards cryptocurrencies among other variables. The independent variable, PE was also found to be a valid construct in influencing the perception of Malaysians towards cryptocurrency. Several recommendations in accordance with each of the predictors have been suggested to cryptocurrency institutions and financial institutions in Malaysia as well as future researchers that are interested in similar research topic. Overall, this study is being concluded where PE, SI, PV and BI had a significant influence towards the perception cryptocurrency by Malaysians.