FACTORS AFFECTING THE ADOPTION OF CRYPTOCURRENCY

Abstract

The study discusses the factors which play a significant role in technological adoption. Data were collected from 342 respondents with sufficient knowledge of investing in cryptocurrency to derive authentic and reliable results. We used statistical software SPSS and SmartPLS to conduct various data tests. SPSS was used to check the missing values and the normality of the data, and it was found that there was no abnormality in the data. Also, demographic analysis was done using SPSS to characterize the respondents with gender, income, occupation, and knowledge of cryptocurrency. Smart PLS software was used for further analysis involving the measurement model and the structural model. In the measurement model, we checked validity and reliability to ensure the items of every latent variable measure their corresponding latent variable when the data is valid; data were found reliable and valid for further analysis since the result of AVE was more than 0.5 in the structural model. We used path coefficients to analyze the data and test the hypotheses. None of the hypotheses were rejected, as each p-value was less than 0.05, indicating a significant impact on the model.