A Preliminary Study On Cryptocurrency Investment Adoption For Digital Technology Advancement
Abstract
Rapid advances in financial technology have made cryptocurrency a popular investment asset. However, research on what drives its adoption in developing countries, such as Malaysia, remains limited. This preliminary study explores the factors driving individual cryptocurrency investment in Malaysia. Based on the Theory of Diffusion of Innovations and the Unified Theory of Acceptance and Use of Technology, this study tested a conceptual model with six key constructs: compatibility, relative advantage, perceived value, performance expectancy, social influence, and financial knowledge. The study gathered data through a self-administered online questionnaire, resulting in 167 valid responses. Data were analysed using Structural Equation Modelling (SEM) and path analysis. The findings show that compatibility, relative advantage, and perceived value significantly and positively influence the adoption of cryptocurrency investments. In contrast, performance expectancy, social influence, and financial knowledge did not significantly impact adoption intentions. These results suggest that Malaysian investors prioritise how well cryptocurrency aligns with their personal beliefs, existing financial strategies, and perceived benefits, rather than relying on social trends or general financial literacy. Ultimately, these insights can help policymakers, financial practitioners, and the cryptocurrency community build stronger digital ecosystems and improve investor engagement.
Copyright information
About this article
Publication Date
01 September 2026
Article Doi
eBook ISBN
-
Publisher
European Publisher
Volume
-
Print ISBN (optional)
Edition Number
1st Edition
Pages
1-1
Subjects
Accounting and Finance, Business and Management, Communication, Law and Governance
Cite this article as:
Mohd Nadzir*, M., Raweh, R. A., Ibrahim, H., Awang, H., Abd Wahab, A., & Ahmad, M. (2026). A Preliminary Study On Cryptocurrency Investment Adoption For Digital Technology Advancement. In Y. Naoyuki, A. Peng Hwa, & J. Matthes (Eds.), GLY-Upcoming Volume: Innovating Together: The Convergence of Management, Communication, and The Digital Transformation, vol -. European Proceedings of Social and Behavioural Sciences (pp. 0-0). European Publisher. https://doi.org/10.15405/epsbs.2026.09.67