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A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi

Cryptocurrency is a type of digital currency secured through cryptography which is the practice of writing or solving codes to ensure security. It operates on a decentralised blockchain technology. Adopting cryptocurrency may help people face inflation, recession, and economic problems. However, the...

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Main Authors: Jamidin, Jaida Najihah, Rozaimi, Luqman Alhakim, Mohd Radi, Muhammad Firdaus
Format: Article
Language:English
Published: Universiti Teknologi MARA, Terengganu 2024
Subjects:
Electronic commerce
Online Access:https://ir.uitm.edu.my/id/eprint/108013/1/108013.pdf
https://ir.uitm.edu.my/id/eprint/108013/
https://e-ajuitmct.uitm.edu.my/v3/
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spelling my.uitm.ir.1080132024-12-18T00:41:25Z https://ir.uitm.edu.my/id/eprint/108013/ A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi eaj Jamidin, Jaida Najihah Rozaimi, Luqman Alhakim Mohd Radi, Muhammad Firdaus Electronic commerce Cryptocurrency is a type of digital currency secured through cryptography which is the practice of writing or solving codes to ensure security. It operates on a decentralised blockchain technology. Adopting cryptocurrency may help people face inflation, recession, and economic problems. However, the adoption of cryptocurrency in Malaysia is still in its early adopter phase. Therefore, this study was constructed to investigate the factors that contribute significantly to the adoption of cryptocurrency in Malaysia and to obtain the best logistic model for adopting cryptocurrency. Logistic regression was handled with the independent variable age, gender, location of living, awareness of cryptocurrency, monthly income and attitude towards cryptocurrency which the dependent variable has two outcomes (1=Adopt Cryptocurrency, 0=Not Adopt Cryptocurrency). This study was carried out on people who live in Malaysia. The result of this study revealed that variable gender, awareness of cryptocurrency, monthly income and attitude towards cryptocurrency contribute significantly to the adoption of cryptocurrency in Malaysia. Policymakers, such as the Securities Commission Malaysia and Bank Negara Malaysia, must take the initiative to develop thorough laws and regulations pertaining to the future use of cryptocurrencies. With the growing awareness and ownership of cryptocurrencies, it is imperative to establish a well-defined legal framework to guarantee stability, security, and equitable practices in the digital asset ecosystem. Universiti Teknologi MARA, Terengganu 2024-11 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/108013/1/108013.pdf A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi. (2024) e-Academia Journal <https://ir.uitm.edu.my/view/publication/e-Academia_Journal/>, 13 (2). pp. 76-85. ISSN 2289 - 6589 https://e-ajuitmct.uitm.edu.my/v3/
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Electronic commerce
spellingShingle Electronic commerce
Jamidin, Jaida Najihah
Rozaimi, Luqman Alhakim
Mohd Radi, Muhammad Firdaus
A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
description Cryptocurrency is a type of digital currency secured through cryptography which is the practice of writing or solving codes to ensure security. It operates on a decentralised blockchain technology. Adopting cryptocurrency may help people face inflation, recession, and economic problems. However, the adoption of cryptocurrency in Malaysia is still in its early adopter phase. Therefore, this study was constructed to investigate the factors that contribute significantly to the adoption of cryptocurrency in Malaysia and to obtain the best logistic model for adopting cryptocurrency. Logistic regression was handled with the independent variable age, gender, location of living, awareness of cryptocurrency, monthly income and attitude towards cryptocurrency which the dependent variable has two outcomes (1=Adopt Cryptocurrency, 0=Not Adopt Cryptocurrency). This study was carried out on people who live in Malaysia. The result of this study revealed that variable gender, awareness of cryptocurrency, monthly income and attitude towards cryptocurrency contribute significantly to the adoption of cryptocurrency in Malaysia. Policymakers, such as the Securities Commission Malaysia and Bank Negara Malaysia, must take the initiative to develop thorough laws and regulations pertaining to the future use of cryptocurrencies. With the growing awareness and ownership of cryptocurrencies, it is imperative to establish a well-defined legal framework to guarantee stability, security, and equitable practices in the digital asset ecosystem.
format Article
author Jamidin, Jaida Najihah
Rozaimi, Luqman Alhakim
Mohd Radi, Muhammad Firdaus
author_facet Jamidin, Jaida Najihah
Rozaimi, Luqman Alhakim
Mohd Radi, Muhammad Firdaus
author_sort Jamidin, Jaida Najihah
title A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
title_short A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
title_full A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
title_fullStr A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
title_full_unstemmed A study on factors that lead to adoption of cryptocurrency in Malaysia / Jaida Najihah Jamidin, Luqman Alhakim Rozaimi and Muhammad Firdaus Mohd Radi
title_sort study on factors that lead to adoption of cryptocurrency in malaysia / jaida najihah jamidin, luqman alhakim rozaimi and muhammad firdaus mohd radi
publisher Universiti Teknologi MARA, Terengganu
publishDate 2024
url https://ir.uitm.edu.my/id/eprint/108013/1/108013.pdf
https://ir.uitm.edu.my/id/eprint/108013/
https://e-ajuitmct.uitm.edu.my/v3/
_version_ 1818838411865227264
score 13.223943

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