Exploring The Drivers of Cryptocurrency Adoption Intent In Africa

The evolution of technology has made cryptocurrency an alternative form of exchange that has attracted growing interest from individuals and businesses. Its adoption continues to be explosive worldwide and further motivated by the financial behaviors fostered by the COVID-19 crisis. The present study investigates the factors influencing the intention to adopt cryptocurrency in Africa through the Diffusion of Innovation Theory (DOI) and the Theory of Reasoned Action (TRA). We test a sample of 124 individuals using Partial Least Square - Structural Equation Modeling (PLS-SEM). The results show that compatibility, relative advantage, and attitude towards cryptocurrency adoption positively influence the intention. The study provides substantial implications in understanding cryptocurrency adoption in the African context and gives good guidance for developing this kind of currencies in Africa.