Cryptocurrency & Bitcoin: A Customer Perception Study of Quetta City, Pakistan

Abstract

This study quantitatively analyzes customer perceptions of Bitcoin's effectiveness in Quetta, Pakistan, using survey data from 150 respondents. The analysis employed descriptive statistics, reliability tests, factor analysis, correlation, and multiple regression. The sample was predominantly young, educated males with moderate incomes. All measurement constructs demonstrated good reliability; factor analysis extracted two dimensions, a risk factor and a trust factor. Correlation analysis identified perceived usefulness as the strongest positive correlate and perceived risk as the strongest negative correlate of perceived effectiveness. A multiple regression model explained 61.2% of the variance in perceived effectiveness. Key predictors were perceived usefulness and trust as positive drivers and perceived risk and Hawala trust as significant barriers. Significant interaction effects showed that infrastructure reliability amplifies the positive impact of usefulness, while trust in Hawala exacerbates the negative impact of perceived risk. The findings emphasize that, in this emerging market context, Bitcoin adoption is influenced not only by technology-acceptance factors but also, critically, by competition with trusted informal financial systems and local infrastructural constraints