Drivers of Cryptocurrency Adoption Among Malaysian Generation Z: An Application of the UTAUT Model

The uptrend of popularity in affirming cryptocurrency as an alternative to fiat currencies has been astounding, especially affecting Generation Z.The potential of cryptocurrencies became more conspicuous and the market for it widespread.Younger minds, in recent years, have been taken back by the potential for fast financial gains.Hence, the objective of this study is to investigate and identify the factors that affect behavioral intention of cryptocurrencies adoption among Generation Z.The Unified Theory of Acceptance and Use of Technology (UTAUT) is the theoretical model for this study.Data from 155 respondents who fall within the Generation Z age range is gathered using the purposive sampling non-probability sampling methods.The findings showed that performance expectancy, facilitating conditions, effort expectancy, act as significant predictors of behavioral intention of cryptocurrency adoption among Generation Z. Whereas perceived risk and social influence does not have significant relationship with the behavioral intention to adopt cryptocurrency.This study provides a comprehensive overview of the factors that contribute to Generation Z's behavioral intention to invest in cryptocurrency and actionable advice for educational institutions, financial institutions and legislators managing youth, finance, and the digital age.