English abstract
In recent years, cryptocurrencies have attracted a lot of attention and adoption. Cryptocurrencies
are digital or virtual currency that operates in a decentralized manner with inherent security and
transparency features. They offer numerous benefits, such as they are mobile payment friendly and
readily accessible, have anonymity, limit intermediaries, and implement transparency, which make
cryptocurrencies an excellent choice for trading, investments, and financial transactions. Apart
from the algorithmic and infrastructure security risks that cryptocurrencies face, there are many
application-level issues, such as security, privacy, trust, lack of regulations, and market volatility,
that have a direct impact on end-user acceptance and their engagement with cryptocurrencies.
Furthermore, current literature indicates that there is a lack of studies that coherently and
comprehensively identify and analyze users’ concerns in cryptocurrencies. In addition, the primary
methodologies utilized in these studies, such as surveys, interviews, or questionnaires, have
inherent limitations. They usually have probable imposition, narrow scope, and limited sample
space and participant knowledge, which may lead to misinterpreted results. Hence, there is a need
to effectively understand and recognize such factors. The objective of this research is to
systematically identify, analyze, and evaluate aspects that are more concerning and have a direct
impact on how cryptocurrencies are adopted and utilized. It will potentially provide a strong
foundation for creating efficient crypto-based financial services, products, and regulations with
high end-user confidence. In this study, we will employ a mixed methodology. Literature review
and thematic modeling are used to identify critical factors from the current literature. Quantitative
techniques such as Statistical Analysis, Topic Modeling, and Sentiment Analysis driven by Social
Media Analytics are exercised to further validate the accuracy and completeness of critical factors.
The top five factors this research addressed are trust, security, regulation, market dynamics and
innovation, and privacy. However, this research also shows that the market dynamics and
innovation, and regulation were either weakly addressed or not addressed at all in the current
literature. This attempt adds considerable value to the industry, users, and the scientific community
in building a reliable foundation to improve cryptocurrency-based products and services. The
recognition of these factors will enhance their trustworthiness, increase the adoption and
confidence of end-users, and will also be validated and potentially add new knowledge of key
factors to the state of the current body of knowledge.
