Exploring the Impact of Cryptocurrency Integration on E-Commerce Platforms: A Framework for Marketplace Integration

Abstract

This research intends to investigate the impact of integrating crypto currency on e-commerce websites. Studying the integration of cryptocurrency and its impact on enhancing user experiences will be the focus. Investigating security measures, transaction processing, users' attitudes towards cryptocurrency wallets, and trust in the integration process is one of the factors to be examined. The data collection involved conducting a systematic survey of 231 cryptocurrency wallet owners to ensure a diverse sample for detailed analysis. The research confirmed and assessed the reliability of the constructs through exploratory factor analyses in addition to confirmatory factor analyses, convergent validity, and discriminant validity analyses. According to the findings, incorporating a cryptocurrency wallet can enhance the user experience by offering a simplified payment option, appealing to tech-savvy individuals, and expediting the checkout process, delivering a more favourable user experience. Moreover, implementing more secure blocks of transaction instills a feeling of trust in security and fraud protection, contingent on the implementation of sufficient security measures. Furthermore, the integration of cryptocurrency offers a quick and cost-effective method for transaction processing by lowering fees, streamlining settlement procedures, and eliminating losses from chargebacks. People's inclination to use crypto wallets may be impacted by their confidence in the integration of several key factors, including platform reputation, transparency, and customer support availability. This study contributes to the current research literature by offering empirical data that can clarify different issues and relationships related to incorporating cryptocurrency into e-commerce platforms. Identifying key factors and their relationships within a complex system enables the creation of a comprehensive integration framework for the marketplace, offering valuable insights for professionals and scholars in the field.