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

Shrinivas K (), Shivam Sharma, Ananda S and Raghavendra Prasanna Kumar ()
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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

A chapter in Trends and Challenges of Electronic Finance, 2025, pp 409-428 from Springer

Abstract: 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.

Keywords: Cryptocurrency; Bitcoin; Ethereum; UTAUT Model; Demonetization; RBI (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3304-3_23

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DOI: 10.1007/978-981-96-3304-3_23

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