Emprical Study of Crypto Currency and its Adoption Among Indians

This paper investigates many factors that impact cryptocurrency awareness and acceptance in the Indian market. Data were obtained from 376 volunteers of various ages across India. The following paper presented a framework based on EFA (Exploratory Factor Analysis), CFA (Confirmatory Factor Analysis), and SEM (Structural Equation Model). Technology awareness, recommendations to others, attitude, social influence, and openness to technical education were all responsible for bitcoin adoption. Meanwhile, trust and perceived risk were not accountable for the adoption of crypto currency. No significant factors directly responsible for the adoption or abandonment of crypto currencies were mentioned in the papers that were read. The Indian market is still not thoroughly studied regarding crypto currency and the population using it. It would create a massive opportunity for crypto currency to operate in the Indian market once the factors responsible for crypto currency adoption are known