The study examines the social media’s influence on cryptocurrency usage and how social media can develop attitudes and perceptions toward cryptocurrencies. The study also investigates how social media can influence the awareness of the financial, security, and privacy risks associated with cryptocurrency usage. The results would help comprehend how social media influences Bahrain’s perception of risk and adoption of cryptocurrencies. A survey was distributed, and 213 responses were gathered. The regression analyses showed that social media and cryptocurrency usage are strongly correlated, which shows that social media platforms are one of the main drivers for increasing the usage of cryptocurrencies. The results also showed that the awareness of financial and privacy issues is quite high, but the security risks are not impacted very much by social media. The study highlights the intricate relationship between social media, acceptance of cryptocurrency and the perception of risks, therefore giving guidance to policymakers and individuals.