Indian Millennials Attitude towards Cryptocurrencies

Abstract

Cryptocurrency has emerged as a major turning point for the financial industry and seen as a significant fintech revolution. The cryptocurrency market is extremely volatile and the regulation of cryptocurrency differs from region to region, which makes it a challenging area not just for practitioners but also for academicians. The present study makes an attempt to understand the attitude of Indian millennials towards cryptocurrency. the study is based on the theoretical framework of Technology Acceptance Model (TAM) and uses a sample of 120 respondents to examine the impact of factors, namely, perceived ease of use, perceived risk, personal innovativeness, and social influence. This study indicates that personal innovativeness, the perceived ease of using the technology, and social influence has a significant positive influence on the attitude towards cryptocurrency. Perceived risk was found to have a negative but significant impact on attitude towards cryptocurrency. Personal innovativeness emerged as the most important factor having a positive influence on attitude which was followed by social influence and perceived ease of use. The results of the study has important theoretical as well practical implications which are discussed at the end of the paper. 

Keywords: cryptocurrency, millennials, TAM, India