Factors Affecting Individual Investors' Intention To Adopt Cryptocurrencies: The Case Of Students In Ho Chi Minh City
Abstract
This study aims to investigate the factors that influence the behavioral intentions
of users within the Vietnamese cryptocurrency market in Ho Chi Minh City. In
particular, it focuses on the primary investor group, Gen Z or the younger generation.
The method in which the study was conducted was by surveys with questions based
around potential key factors influencing intention to adopt cryptocurrencies. Overall,
there were 314 valid responses. The responses were evaluated and analyzed using
Partial Least Square (PLS). This was then validated with PLS Structural Equation
Modeling (SEM). These results suggested that E-WOM (Electronic Word of Mouth)
and Performance Expectancy were key factors in deciding behavioral intentions.
Factors such as Perceived Risk had little to no impact on the overall behavioral
intentions. It is believed that due to Vietnam being the largest adopters of
cryptocurrency that it has led to then becoming more accustomed to this space with less
fear of the volatility that market brings.