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p-Index From 2021 - 2026
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All Journal Journal of Economics, Entrepreneurship, Management Business and Accounting
Rafael Winata Willy Suwanto
Universitas Pendidikan Nasional, Denpasar, Indonesia
Economics, Econometrics & Finance

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Cryptocurrency Adoption and Financial Literacy among Indonesian Users Rafael Winata Willy Suwanto; Made Ratih Nurmalasari
Journal of Economics, Entrepreneurship, Management Business and Accounting Vol 4 No 6 (2026): Volume 4, Issue 6, November 2026
Publisher : CV. Sakura Digital Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61255/jeemba.v4i6.2232

Abstract

Purpose – This study examines the relationship between Cryptocurrency Investment Adoption and Financial Literacy, with User Trust and User Satisfaction as mediating variables among Indonesian cryptocurrency users. The study focuses on how cryptocurrency investment involvement may be associated with users’ financial understanding and how trust and satisfaction contribute to this relationship. Design/methodology/approach – This study adopts a quantitative approach using a cross-sectional survey design. Data were collected from 100 Indonesian cryptocurrency users selected through purposive sampling. The questionnaire consisted of 20 indicators measuring Cryptocurrency Investment Adoption, User Trust, User Satisfaction, and Financial Literacy using a four-point Likert scale. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4. Hypotheses were tested using bootstrapping with 5,000 resamples. Findings/Results – The results show that Cryptocurrency Investment Adoption has a positive and significant effect on Financial Literacy (β = 0.347; p < 0.001), User Trust (β = 0.600; p < 0.001), and User Satisfaction (β = 0.631; p < 0.001). User Trust significantly affects Financial Literacy (β = 0.288; p = 0.013) and significantly mediates the relationship between Cryptocurrency Investment Adoption and Financial Literacy (β = 0.173; p = 0.023). However, User Satisfaction does not significantly affect Financial Literacy (β = 0.129; p = 0.305) or mediate the relationship (β = 0.081; p = 0.319). Originality/Value – This study highlights User Trust as a significant mechanism linking cryptocurrency investment adoption with financial literacy, while User Satisfaction does not provide a significant pathway.
Co-Authors Made Ratih Nurmalasari