Cryptocurrency travel revolution: Unraveling the mystery of consumer trust in market environment volatility

Cryptocurrency has become a significant technology across all industries, including tourism and hospitality. However, existing research has mainly focused on initial adoption rather than post-adoption continuance intentions. This study analyzed factors influencing consumer trust in cryptocurrency-based Online Travel Agencies (OTAs), focusing on trust dynamics and market volatility. In Study 1, qualitative content analysis of 2000 online reviews (623,652 words) revealed three experiential value dimensions: functional, emotional, and conditional values, comprising 8 sub-themes with 23 secondary sub-themes. In Study 2, PLS-SEM analysis of 355 cryptocurrency-based OTA users confirmed that experiential value significantly influences platform trust (β=0.700, p < 0.001) and cryptocurrency trust (β=0.557, p < 0.001). Trust transfer from platform to cryptocurrency was validated (β=0.188, p < 0.01). Market volatility negatively moderated trust-continuance relationships (β=-0.120, p < 0.001), with this effect paradoxically stronger for users with high digital financial literacy. These findings underscore the need for differentiated trust-building strategies and reveal the complex role of digital financial literacy in volatile cryptocurrency markets. • First study to examine post-adoption continuance intention in cryptocurrency-based OTAs. • Identified three experiential value dimensions through content analysis of 2,000 online reviews. • Validated trust transfer from platform to cryptocurrency under volatile market conditions. • Demonstrated negative moderating effect of market volatility on trust-continuance relationships. • Revealed that high digital financial literacy paradoxically amplifies volatility sensitivity.