Abstract
This article explores the key barriers to the mass adoption of digital currencies and provides suggestions for overcoming these challenges. The barriers include lack of awareness and education, regulatory uncertainty, security concerns, volatility and price= stability, usability and user experience, scalability, interoperability, financial inclusion, trust and perception, and resistance from established financial institutions. The study aims to identify these barriers, understand their impact, propose strategies for overcoming them, and provide insights based on data analysis. The mean scores and standard deviations are presented to rank the dimensions, and a hypothesis is tested to determine the relationship between user types and the barriers. The findings suggest that user experience and usability, security and fraud concerns, energy consumption, scalability, and interoperability are
perceived as the most significant barriers. The results of Levene's Test indicate significant differences in the perceived barriers between common users and business users. Suggestions for overcoming the barriers include education and awareness campaigns, regulatory clarity, enhanced security measures, price stability mechanisms, and improved usability. Collaborative efforts are essential to foster widespread adoption and integration of digital
currencies into mainstream financial systems.
Keywords: digital currency, mass adoption, barriers, user adoption, awareness, education, regulation, security, volatility, usability, scalability, interoperability, financial inclusion, trust, perception, resistance, user types.
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