Abstract:
Financial economic innovation and technological advancements have increased the demand for digital currencies. Cryptocurrencies, digital currencies based on cryptographic technology, facilitate various financial transactions, including payments and value storage, using blockchain technology. This research aims to predict behavioral intentions to use
cryptocurrency by employing the Utility Theory and the Unified Theory of Technology
Acceptance and Use (UTAUT) model. While the number of cryptocurrency users is rising
globally, Sri Lanka has seen limited adoption. This study investigates the factors influencing undergraduates’ behavioral intention to use cryptocurrencies in University of Vavuniya, Sri Lanka. Data were collected via a survey from 249 undergraduates using a simple random sampling method. Regression analyze was conducted to achieve the research objectives. The findings indicate that perceived benefits, perceived risk, structural provisions, and positive attitudes toward cryptocurrency significantly influence the intention to use it. In contrast, social consequences do not impact this intention. The study confirms that the model has a good fit and can explain the underlying theories. This research is significant as it addresses the gap in cryptocurrency studies within the Sri Lankan context using the Utility Theory and UTAUT model. The tested model and findings offer practical and theoretical implications for enhancing cryptocurrency use intentions of individuals
