An empirical investigation on the adoption of cryptocurrencies among the people of mainland China

Cryptocurrencies represent a novel method of exchange without physical form, created by the internet to facilitate in making online payments which potentially bring revolution in the social structure of the future economic system. The core objective of this empirical inquiry is to look into the adoption of cryptocurrencies particularly Bitcoin, among the people of mainland China. To carry out the goals, this study was conducted to collect the essential information by applying a structured questionnaire from the people of mainland China via the online data collection system. The sample size is (n = 376) therefore, descriptive statistics, and structural equation modeling (SEM) has been applied to explore the causal relationship between explanatory factors and citizens intention to use. This study proposes that awareness and perceived trustworthiness are comparatively significant factors to determine the intention to use Bitcoin, while perceived usefulness partially mediates the relationship between perceived ease of use and intention to use. This study explores the factors influencing Bitcoin adoption in China demonstrating similarities and differences in terms of global adoption. The outcomes contribute to existing theories of Bitcoin adoption, providing policymakers with insight into how adoption is unfolding in this context.