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Purpose The primary objective of this study is to prioritize the main intentions behind investment in cryptocurrency, in spite of its volatile nature and no regulatory framework. Design/methodology/approach This research paper has worked on collective constructs of the unified theory of acceptance and use of technology (UTAUT), the technology acceptance model (TAM) and social support theory with an added construct of financial literacy. A fuzzy analytical framework has been applied to prioritize the intentions of investors. Findings The result indicates that “Social Influence (SI)” is the most influencing factor, while “Effort Expectancy (EE)” is the least influencing factor considered by investors. The subdimensions ranked in the top priority by investors are as follows: “I want to invest in cryptocurrencies because I have a good level of financial knowledge (FL1)”; “The people who are important to me will think that I should use cryptocurrencies (SI2)”; “I have the necessary resources to use cryptocurrencies (FC2).” The least importance is given to “It will be easy for me to become an expert in the use of cryptocurrencies (EE3).” Research limitations/implications Few of the constructs of the UTAUT, the TAM and social support theory have been considered while prioritizing intentions. Different other intentions also prevail under different theories that need to be researched further. Practical implications Unlike previous studies, this research adds the archetype of social commerce, social support and utility theories to analyze and prioritize the behavioral perspective of using cryptocurrencies in digital transactions. Originality/value This paper fills the gap in the research study, along with assisting the regulators and cryptocurrency practitioners to widen their knowledge base and to recognize the prioritized intentions.
Gupta et al. (Wed,) studied this question.