FAKTOR YANG MEMENGARUHI MINAT BELI CRYPTOCURRENCY PADA INVESTOR RITEL DI INDONESIA: PENDEKATAN UTAUT2: FAKTOR YANG MEMENGARUHI MINAT BELI CRYPTOCURRENCY PADA INVESTOR RITEL DI INDONESIA: PENDEKATAN UTAUT2

Akhmad Sirojudin Munir

doi:10.35897/intaj.v10i2.2775

Authors

Akhmad Sirojudin Munir Universitas Sunan Drajat Lamongan

DOI:

https://doi.org/10.35897/intaj.v10i2.2775

Keywords:

Purchase intention, Cryptocurrency, Retail investor, UTAUT2, Indonesia

Abstract

This study examines the factors influencing the intention to purchase cryptocurrency among retail investors in Indonesia, employing a Systematic Literature Review (SLR) approach based on the PRISMA protocol. An extensive literature search was conducted via the OpenAlex database, focusing on articles published between 2022 and 2026. Out of 272 identified articles, 11 were selected for final analysis following a rigorous screening and eligibility assessment. The findings indicate that purchase intention is primarily driven by performance expectancy, effort expectancy, social influence, and facilitating conditions—aligning with the UTAUT2 framework. Furthermore, psychological and cognitive factors—such as perceived benefits and ease of use, financial knowledge, perceived value (monetary, functional, and emotional), hedonic motivation, and trust—play significant roles. For instance, the research suggests that perceived benefits and ease of use substantially influence investor decisions, while consumer knowledge shows a positive correlation with cryptocurrency adoption. Publication trends reveal some fluctuations, yet there is a projected increase in research activity for 2025 and 2026 (with three studies each), underscoring the enduring relevance of this topic. This study extends the UTAUT2 framework by identifying contextual factors specific to retail investors in Indonesia—such as the critical roles of regulation and financial literacy—while also highlighting research gaps concerning longitudinal studies and specific demographic segments. The findings underscore the need for policies that protect investors, alongside effective educational strategies implemented by service provider platforms.

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