Study of Factors Influencing Consumer to Adopt Cryptocurrency

Cryptocurrencies have become one of the most traded financial assets in last decade. The first half 2022 will not be easily forgotten by crypto faithful as it shifted investor sentiment after a monster cryptocurrency rally 2021 that saw bitcoin (BTC) and altcoins scale multiple record peaks. Just users were getting comfortable with their passive DeFi incomes, Terra its non-collaterised stablecoin collapsed sensational turn events. Three Arrows Capital (3AC), hedge fund managed worth about $10bn at peak, went bankrupt falling prices forced liquidations collateralized loans leveraged trading positions across industry, aggravating sell-off. Investor plummeted lending platforms like Celsius Babel suspended withdrawals for clients. future still remains unclear. Given all these mess, we would to know what factors could actually influence consumer adoption from here on out.The purpose this research is study influencing adopt cryptocurrency. These include seven independent variables: Convenience (CV), Popularity (PL), Usefulness (UF), Credibility (CD), Recommendations (RC), Price Stability (PS) Risk (RK) dependent variable: Crypto Behavior (BH). 400 sample collected using electronic questionnaire through social media. We used Structural Equation Models (SEM) data analysis. result shows Since RMSEA, which an absolute fit index assesses how far our hypothesized model perfect model, .047 (<.05) strongly indicates “close fit” Goodness Fit Index (GFI) value .934 (>.90), seems well according descriptive measures fit. More importantly (RC) seem significant effects due p-values are both less than .05. That means long becoming more popular, useful, credible highly recommended key stakeholders (friends & family, professionals influencers) better risk management, welcome day-to-day currency investment alternative. One interesting finding we’ve seen over again especially post-covid doesn’t significantly impact much adoption.