A Study on Public Perception and Adoption Intent of Cryptocurrency as an Investment Option in India
Aarshkumar Gandhi1, Yashfinbanu Sabugar2 and Shailak Jani3
1,2Research Scholar, Parul Institute of Management and Research, Parul University, Vadodara, Gujarat, India. Email: aarshgandhi585@gmail.com
3Assistant Professor, Parul Institute of Management and Research, Parul University, Vadodara, Gujarat, India. Email: 93janisra@gmail.com
Abstract: The emergence of cryptocurrencies has introduced a new dimension to investment decision-making, particularly in emerging economies like India. This study aims to examine public perception and adoption intent of cryptocurrencies as an investment option by analyzing key factors such as perceived benefits and perceived risk. The research is based on primary data collected from a sample of 320 respondents using a structured questionnaire measured on a five-point Likert scale. Descriptive statistics, correlation analysis, and simple linear regression were employed using IBM SPSS Statistics to analyze the data. The findings reveal that public perception plays a significant role in influencing the adoption intent of cryptocurrencies. Perceived benefits, including high return potential and diversification opportunities, positively impact investment intention, while perceived risk, such as price volatility, security concerns, and regulatory uncertainty, negatively affects adoption. The results indicate that although there is growing awareness and interest in cryptocurrencies, investor hesitation persists due to risk-related concerns. The study highlights that adoption decisions are driven by a balance between expected returns and perceived risks. The study contributes to the existing literature in Behavioral Finance by providing an integrated analysis of perception and adoption intent in the context of cryptocurrency investments. It offers practical implications for policymakers, financial institutions, and investors by emphasizing the need to enhance awareness, improve regulatory clarity, and address risk perceptions. The findings underscore the importance of fostering informed and balanced investor perceptions to support the sustainable adoption of cryptocurrencies as an investment option.
Keywords: Cryptocurrency, Public Perception, Adoption Intent, Perceived Benefits, Perceived Risk, Digital Assets, Investment Behavior, Behavioral Finance, India
