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Cryptocurrency Conundrum: Understanding the Dynamics of Indian Consumer Intentions using an Extended UTAUT Model

In: Trends and Challenges of Electronic Finance

Author

Listed:
  • Shrinivas K

    (CHRIST Deemed to Be University)

  • Shivam Sharma

    (Marketing and Sales Manager, RP3)

  • Ananda S

    (College of Banking and Financial Studies)

  • Raghavendra Prasanna Kumar

    (CHRIST Deemed to Be University)

Abstract

This study aims to identify what drives cryptocurrency usage in Indian consumers. At a time when the whole world is warming up to the idea of cryptocurrencies, India has only recently come on the map after demonetization. This has left Indian cryptocurrency companies groping in the dark regarding truly understanding Indian consumers and their preference for cryptocurrencies. Thus, to achieve the purpose of this study, we administered an online survey and studied only those respondents who were Indian citizens and had ever bought or sold cryptocurrencies before. Then, we performed factor analysis by analyzing responses to the questions of our UTAUT model using SPSS and PLS Smart. The results showed that the best predictor of cryptocurrency was using the construct “Access to Knowledge/News,” implying that Indian consumers’ use of cryptocurrencies was directly proportional to the ease and availability of accurate information about cryptocurrencies.

Suggested Citation

  • Shrinivas K & Shivam Sharma & Ananda S & Raghavendra Prasanna Kumar, 2025. "Cryptocurrency Conundrum: Understanding the Dynamics of Indian Consumer Intentions using an Extended UTAUT Model," Springer Books, in: Ananda S. & Tamanna Dalwai & Dharmendra Singh (ed.), Trends and Challenges of Electronic Finance, pages 409-428, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-3304-3_23
    DOI: 10.1007/978-981-96-3304-3_23
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