Adoption Of Cryptocurrencies Research Articles

Cryptocurrency investment behaviour of young Indians: mediating role of fear of missing out

Purpose This study aims to investigate how fear of missing out (FOMO) mediates the relationship between cryptocurrency adoption intention and investment behavior among young Indians, using the extended unified theory of acceptance and use of technology. Design/methodology/approach The data were collected by using survey items on cryptocurrency adoption intention, investment behavior and FOMO derived from existing literature on information systems and cryptocurrencies. A total of 384 Indian participants completed an online questionnaire. The collected data was analyzed using PLS-SEM. Findings The findings indicate that facilitating conditions, social influence, effort expectancy and price value play important roles in cryptocurrency adoption. All hypothesized paths were significant, except for perceived risk. Furthermore, the study highlights that FOMO acts as a mediator between adoption intention and investment behavior. Originality/value This study makes a valuable addition to the literature by empirically exploring the influence of FOMO on the adoption of cryptocurrencies for investment purposes. The results provide valuable insights to crypto developers and exchanges regarding the diffusion of adoption in emerging markets. In addition, policymakers can gain meaningful insights into the influence of government regulations and FOMO on impulsive cryptocurrency behavior.

Global Market Perceptions of Cryptocurrency and the Use of Cryptocurrency by Consumers: A Pilot Study

Cryptocurrencies, like Bitcoin and Ethereum, have garnered global attention in recent years as digital alternatives to traditional fiat currencies. This paper explores the complex landscape of cryptocurrency adoption, consumer behavior, and perceptions. Beginning with the origin of cryptocurrencies and the dominance of Bitcoin with its USD 1.23 trillion market capitalization, the paper highlights popular online platforms facilitating Bitcoin trading. It also examines the varying legal statuses and regulations across different countries, with a notable divide between Eastern and Western nations, attributed to factors like wealth, risk tolerance, and government restrictions. The role of blockchain technology as the foundation of cryptocurrencies is explained, emphasizing its role in ensuring secure and transparent transactions. The paper delves into the processes involved in handling cryptocurrencies, including the blockchain, exchanges, wallets, and mining. Consumer behavior and the factors influencing cryptocurrency usage are analyzed, with a focus on speculation, algorithm trust, spending power, and demographics. Survey findings and case studies from diverse geographical areas reveal patterns of adoption and local consumer perceptions. The paper concludes by discussing the cryptocurrency market’s inherent volatility and sensitivity to regulatory changes, as well as the different types of cryptocurrencies and online exchanges shaping this evolving financial landscape. Overall, it offers insights into the complex dynamics surrounding cryptocurrency adoption and its potential impact on global finance.

Factors influencing the adoption of cryptocurrency in Bangladesh: an investigation using the technology acceptance model (TAM)

PurposeUsing the technology acceptance model (TAM), this study investigates factors influencing the adoption of cryptocurrency in Bangladesh.Design/methodology/approachData were collected from 346 members of the general public through a structured web survey using snowball sampling. Structural equation modeling was used to analyze the data and assess the reliability and validity of the measurement model.FindingsThe results show that knowledge of cryptocurrency, benefits of use (perceived usefulness), attitude and challenges all have a significant impact on the adoption of cryptocurrency.Research limitations/implicationsThis study was conducted in a single country, relied on self-reported data and used a cross-sectional design, which limits the ability to draw causal inferences. Future research could explore the factors that influence the adoption of cryptocurrency in different countries and regions and incorporate additional variables to provide a more comprehensive understanding of the drivers of intention to use cryptocurrency.Originality/valueThis study contributes to understanding the factors driving the adoption of and intention to use technology-based services, providing insights that can inform the design and implementation of future technology-based services.

Towards Cryptocurrency Adoption in Tanzania: Potential Risks and Challenges to the Financial Ecosystem

The emergence of cryptocurrency financial technology in the world has introduced new global cashless payment system. Researchers, scholars, jurisdictions, central banks and governments all over the world has put much attention in this payment technology. Despite the enormous benefits of cryptocurrency, it has been associated with several risks and challenges including high price volatility, security vulnerabilities and the illegal activities such as money laundering, terrorist financing, corruption and fraud. Moreover, the level of acceptance and adoption of this currency is questionable among the public and especially in the financial sector. This study uses the Unified Theory of Acceptance and Use of Technology (UTAUT), to assess the level of adoption, anticipated risks and challenges. The study used the mixed research design with a qualitative embedded design. The study collected data from 100 respondents obtained through convenient sampling approach. Respondents were sampled from BOT and Commercial banks based in Dar Es Salaam, Cryptocurrency traders among others. Data were analysed by the use of descriptive (quantitative data) and content analysis (qualitative data). Findings reveal that, the rate and intention of adopting cryptocurrency is very low because of ICT related challenges. It was further revealed that in Tanzania, volatility of the currency, security problems and awareness among customers are anticipated challenges. Moreover, it was revealed that because of regulatory landscape and its connection to security threats the public considers cryptocurrency to have several challenges. The study concludes that the rate and intention to adopt cryptocurrency is still low in Tanzania and recommends the government and other financial institutions in the financial sector to set facilitating environment for cryptocurrency because it is a technology that is taking over in the finance sector in the near future.

A Proposal for an Open-Source Bitcoin Forensics Tool

Over recent decades, the global financial paradigm has experienced significant transformations, notably the emergence and adoption of cryptocurrencies. The escalating prominence of assets like Bitcoin has inadvertently catalysed a surge in illicit activities associated with the currency. Consequently, the forensic examination of transactions within blockchains becomes imperative for the detection and surveillance of malevolent undertakings. This research delineates a preliminary pipeline for a Bitcoin forensic analysis tool. Moving forward, the ambition is to conceptualize and empirically validate this tool utilizing data procured from blockchain and ancillary sources. The methodology will harness Open-Source Intelligence (OSINT), clustering of Bitcoin addresses, and an exhaustive financial analysis. Upon finalizing the pipeline, the implementation of an open-source instrument is envisioned, poised to confer substantial advantages to the broader cryptocurrency milieu.

Blockchain technology in education: The perspective, challenges, and concerns

Blockchain technology has altered the way transactions are conducted since its introduction. It offers a risk-free and secure way to exchange digital currency that is impervious to manipulation by those with bad intentions. In blocks that store the data, it stores all transactional data. The best example of decentralized, systematic data collection is blockchain technology. By storing the block in many locations across a distributed network arrangement, it offers a public ledger system that combines public key encryption of all transactions to solve the double spending problem, making change impossible and therefore more secure. This article explores the usefulness and benefits of Blockchain technology compared to traditional data management by outlining its fundamental concepts and how it has been adopted in different industries. The writers also discuss the factors that led to the adoption of Bitcoin and other cryptocurrencies as well as the shift to a decentralized crypto ledger. In-depth information on this technology's potential hazards, drawbacks, security features, threats, and vulnerabilities is also included in the article.

Examining Consumer Behavioural Intention Towards Cryptocurrency Adoption Readiness in Pakistan: A Religious Perspective

Cryptocurrencies have reshaped the global fintech landscape by providing an alternative system of digital payments, investments, trading, and exchange, thereby eliminating the constraints set by traditional currencies. Likewise, cryptocurrencies offer enormous potential to revolutionize the financial markets of Pakistan. This research was thus aimed at examining the underlying factors that shaped individuals’ behavioral intentions to adopt cryptocurrencies under the moderating influence of religion. Using a survey method, the data was collected from 220 professionals who worked in insurance, banking, investment, and trading firms in Pakistan. The data were subsequently processed for multivariate analyses using the smart PLS tool. This research contributes to the theory & research of and policy implications on cryptocurrencies by suggesting novel insights on their potential adoption and promising growth prospects in Pakistan. Notably, the results also reveal the level of influence that religion has on people when it comes to the adoption of these currencies in Pakistan, an Islamic state.

THE RISE OF CRYPTOCURRENCY ADOPTION IN PAKISTAN: THE LEGAL LANDSCAPE

This article explores the rise of cryptocurrency adoption in Pakistan and examines the promising future that lies ahead for this emerging digital asset class in the country. Pakistan, with its cash-centric economy and limited access to formal financial services for a significant portion of its population, has witnessed a remarkable shift in attitudes toward cryptocurrencies. Factors such as financial inclusion efforts, economic instability, and supportive government policies have contributed to this growing interest. The younger generation, in particular, is embracing digital currencies as a means of participating in the global economy and preserving their wealth in the face of inflation. The establishment of crypto exchanges and supporting infrastructure, along with educational initiatives and awareness programs, has further facilitated cryptocurrency adoption. The government's positive approach and efforts to develop a comprehensive regulatory framework have instilled confidence and encouraged individuals and businesses to explore the opportunities presented by cryptocurrencies. Moreover, partnerships with global crypto projects and the potential applications of blockchain technology in various sectors have contributed to Pakistan's promising future in the cryptocurrency space. As more individuals and businesses embrace cryptocurrencies, Pakistan is poised to leverage the benefits of this transformative technology, fostering financial inclusion, economic growth, and technological innovation in the years to come. Cryptocurrencies have garnered significant attention and adoption worldwide, and Pakistan is no exception. In recent years, Pakistan has witnessed a growing interest in cryptocurrencies, with an increasing number of individuals and businesses embracing this digital financial revolution. This article explores the factors contributing to the rise of cryptocurrency adoption in Pakistan and examines the promising future that lies ahead.

Cryptocurrencies on the Tech Wave The Rise of Another Official Currency or Just a Dystopian Investment

Cryptocurrencies are a new form of currency that have gained widespread attention in today's age of rapid technological advancement. The underlying blockchain technology provides many advantages for cryptocurrency transactions, including decentralization, anonymity, and security. But there are always two sides to a story, and despite the fact that cryptocurrencies have solid technical backing, their development has been severely hampered by issues like the high stability of individual coins and the potential dangers of the technology itself, which have led many nations to pass laws restricting cryptocurrency use. Taking a literature review method, this paper explores the features of cryptocurrencies, their potential for institutionalization as legal tender, and their primary effect on the economy. This paper concludes that the widespread adoption of cryptocurrencies as a viable alternative to fiat currencies is highly improbable in the foreseeable future.

An Empirical Study of User Adoption of Cryptocurrency Using Blockchain Technology: Analysing Role of Success Factors like Technology Awareness and Financial Literacy

The study aims to investigate how an individual’s technology awareness, subjective financial literacy and personal innovativeness characteristics impact the intention to use blockchain-based digital currencies such as cryptocurrency. The UTAUT 2 (Unified Theory of Acceptance and Use of Technology 2) model is extended with crucial constructs to develop the conceptual model. A total of 312 responses are analysed using Covariance-Based Structural Equation Modelling (CB-SEM). The moderation effects are assessed using multi-group analysis. The findings show a significant moderating effect of technology awareness and subjective financial literacy on the relationship between performance expectancy (PE) and behavioural intention to use cryptocurrency (BI). It further identified that performance expectancy (PE) mediates personal innovativeness (PI) and usage intentions (BI). The study adds to the growing literature of digital currency adoption by focusing on individual innovativeness, technology awareness and financial literacy. It also proposes a research model that can be generalised for new-age consumer-based financial technology adoption.

Cryptocurrency Adoption among Saudi Arabian Public University Students: Dual Structural Equation Modelling and Artificial Neural Network Approach

Cryptocurrency is receiving widespread acceptance in the international market. Unfortunately, little attention is focused on the full identification of the cryptocurrency adoption factors, especially when it comes to emerging nations like Saudi Arabia. The current investigation is aimed at investigating whether the use of dual structural equation modelling and artificial neural network (SEM-ANN) would permit a better comprehension of the determinants of cryptocurrency adoption than the single-step PLS-SEM technique and explore the predictors of cryptocurrency adoption. An extended unified theory of acceptance and use of technology (UTAUT) model was used. A sample of 344 responses from Saudi Arabian students at public universities was used to verify the model. Unlike the majority of existing studies that were based on a single-step PLS-SEM approach, this investigation employed a superior statistical approach, the dual SEM-ANN approach, considered a unique methodological approach that can recognise variables’ connections that are both linear and nonlinear and predict relationships with higher accuracy. Moreover, the dual SEM-ANN analysis revealed security as the most important factor influencing whether users would accept cryptocurrency, followed by effort expectancy and awareness. The application of the dual SEM-ANN technique and the extension of the UTAUT model with security and awareness constructs have enhanced the existing technology adoption literature. Additionally, methodological, theoretical, and practical contributions were offered by this study.

Factors Affecting the Adoption of Cryptocurrency

This paper examines factors affecting the adoption of cryptocurrency across 158 countries worldwide. To this end, we collected cryptocurrency adoption data from Chainalysis’s reports and macroeconomic data from the World Development Indicators platform. We find that greater import volumes, larger population size, more sufficient levels of the labor force, higher unemployment rate, and a higher level of electricity access are associated with a greater level of cryptocurrency adoption. On the other hand, a higher level of government spending and a greater level of domestic savings are associated with a lower level of cryptocurrency adoption. In addition, we also find that the population size and level of the labor force have a negative impact on the three subcomponents of the cryptocurrency adoption index including (i) centralized service value received (CeFi); (ii) the volume of exchange trading (P2P); and (iii) the received DeFi value (DeFi). We find that while the import volumes and level of electricity access have an opposite relationship with the centralized service value received and the DeFi value received, GDP has a negative effect on the DeFi value received. Meanwhile, greater government spending and higher domestic savings are associated with a greater level of exchange trade volume P2P. In terms of urbanization, whereas it shows a positive impact on the exchange trade volume P2P, it has the opposite effect on the DeFi value received.

Use and acceptance of crypto currencies in India: an evaluation of block chain application in financial sector using PLS SEM and ANN approach

PurposeThis paper aims to create and evaluate a model for cryptocurrency adoption by investigating how age, education, and gender impact Behavioural Intention. A hybrid approach that combined partial least squares structural equation modeling (PLS-SEM) and artificial neural network (ANN) was used for the purpose.Design/methodology/approachThis study uses a multi-analytical hybrid approach, combining PLS-SEM and ANN to illustrate the impact of various identified variables on behavioral intention toward using cryptocurrency. Multi-group analysis (MGA) is applied to determine whether different data groups of age, gender and education have significant differences in the parameter estimates that are specific to each group.FindingsThe findings indicate that Social Influence (SI) has the greatest impact on Behavioral Intention (BI), which suggests that the viewpoints and recommendations of influential and well-known individuals can serve as a motivating factor to invest in cryptocurrencies. Furthermore, education was found to be a moderating factor in the relationship found between behavioral intention and design.Research limitations/implicationsPrior studies on technology adoption have utilized superficial SEM and ANN methods, whereas a more effective outcome has been suggested by implementing a dual-stage PLS-SEM and ANN approach utilizing a deep neural network architecture. This methodology can enhance the accuracy of nonlinear connections in the model and augment the deep learning capacity.Practical implicationsThe research is based on the Unified Theory of Acceptance and Use of Technology (UTAUT2) and expands upon this model by integrating elements of design and trust. This is an important addition, as design can influence individuals' willingness to try new technologies, while trust is a critical factor in determining whether individuals will adopt and use new technology.Social implicationsCryptocurrencies are a relatively new phenomenon in India, and their use and adoption have grown significantly in recent years. However, this development has not been without controversy, as the implications of cryptocurrencies for society, the economy and governance remain uncertain. The results reveal that social influence is an important predictor for the adoption of cryptocurrency in India, and this can help financial institutions and regulators in making policy decisions accordingly.Originality/valueGiven the emerging nature of cryptocurrency adoption in India, there is certainly a need for further empirical research in this area. The current study aims to address this research gap and achieve the following objectives: (a) to determine if a dual-stage PLS-SEM and ANN analysis utilizing deep learning techniques can yield more comprehensive research findings than a PLS-SEM approach and (b) to identify variables that can forecast the intention to adopt cryptocurrency.

Factors affecting the adoption of cryptocurrencies for financial transactions

PurposeThis study contributes to examining the factors that drive the adoption of cryptocurrencies for financial transactions in the tourism and hospitality industries. This is crucial to develop tourism and hospitality and stimulate financial inclusion in developing and developed countries.Design/methodology/approachThis research paper employs the SEM model and bootstrapping method on a sample of 417 French participants involved in tourism and hospitality industries to reveal the causal pathway between a set of independent factors and the willingness to adopt cryptocurrencies for financial transactions.FindingsThe empirical findings reveal that ease of use, perceived usefulness, social influence, and financial literacy increase the willingness to use cryptocurrencies. French hotels need to have a strategic orientation, to deal with customers, competitors and changing technological environment. The study also reveals that social influence and financial literacy reduce the level of perceived financial risk and thus, leads to increase the intention to adopt the new type of decentralized currencies.Originality/valueIn contrast to previous studies that focused on the volatility and risk of cryptocurrencies, this research employs a human-centric approach covering different factors that could lead to the adoption of the new type of currency for financial transactions in tourism and hospitality industries.

Effect of risk attitude on cryptocurrency adoption for compensation and spending

PurposeThis study aims to investigate the effect of risk tolerance on the individual choice of adopting Bitcoin in the form of making and receiving payment and receiving compensation.Design/methodology/approachThe study uses data collected from an anonymous survey of 225 undergraduate and graduate students to measure their risk attitude using the general risk-taking propensity scale proposed by Zhang et al. (2018) and the risk-taking index, proposed by Nicholson et al. (2018). After controlling for a variety of personal traits, the study uses logistic regression to identify the predicted probabilities and marginal effects on individual choice of adopting Bitcoin.FindingsThe findings of this study suggest that individuals with a higher risk-seeking attitude are more likely to choose to receive payment for goods they sell in Bitcoin and more likely to choose to receive a portion of their compensation in cryptocurrency. Individuals in the higher-income groups are more likely to adopt Bitcoin 46% and 65% than their lower 14% and 45% and middle income 4% and 18% counterparts. While there was no statistically significant difference between males and females in adopting Bitcoin, respondents between the age of 26 and 29 were more likely to adopt Bitcoin. The effect on receiving gold was slightly smaller but highly comparable to that of receiving Bitcoin, which highlights a similar perception of risk toward the Bitcoin and gold.Originality/valueThe study uses a new data set collected by surveying 225 individuals and two different risk measurements to identify the relationship between perceived risk and Bitcoin adoption.

Solving blockchain trilemma using off‐chain storage protocol

AbstractTrilemma in blockchain refers to the infamous problem of simultaneously not delivering the three critical aspects of a ledger: security, scalability, and decentralisation. While security and scalability hinder decentralisation, security is jeopardised if the scalability is escalated. This deficiency of not maintaining a balance among these three crucial factors restricts the broader adoption of blockchain technology and cryptocurrencies in the industries. This paper proposes a solution to the blockchain trilemma by implementing a public ledger using The InterPlanetary File System (IPFS) and a newly introduced strategy called the double‐chain technique. The scalability and decentralisation features are guaranteed by the distributed file system of IPFS and the public nature of the blockchain suggested in this study. Although any consensus can be plugged into our system, the proof‐of‐work consensus is utilised to ensure that the security is not compromised while stabilising scalability and decentralisation.

THE IMPACT THAT CRYPTOCURRENCIES HAVE ON THE PROFITABILITY OF SMALL BUSINESSES

In the global financial environment, cryptocurrencies have become a disruptive force that offers possibilities as well as problems for firms in numerous industries. The incorporation of cryptocurrencies into small businesses’ operations has gained more attention in recent years as a way to boost their profitability. This study paper intends to provide a thorough examination of the effects of cryptocurrencies on the profitability of small businesses, illuminating the numerous aspects and ramifications of cryptocurrency adoption, but also emphasizing its consequences for the financial performance of small firms, with the aim to fill the knowledge vacuum, as well as to provide insights into the potential and constraints connected with cryptocurrencies in the small company environment by examining revenue generation, cost management, financial transactions, and market growth. For a number of reasons, it is essential to comprehend how cryptocurrencies affect the profitability of small businesses, and in order to accomplish the goals of this study, a thorough analysis of the body of literature will be done, looking at empirical research, case studies, and theoretical frameworks pertaining to the effect of cryptocurrencies on small company profitability. This research study seeks to provide a comprehensive grasp of the topic by combining the existing information. In order to learn more about small company owners’ experiences, difficulties, and possibilities related to bitcoin adoption, as the main cryptocurrency so far, primary data were gathered via surveys or interviews among them. The study adds to the body of information already available and provide useful advice, as well as shared practical experience for academics, policymakers, and small company owners who are interested in learning about the effects of bitcoin integration on small business profitability.

An Analysis of the MTI Crypto Investment Scam: User Case

Since the start of the Covid-19 pandemic, blockchain and cryptocurrency adoption has increased significantly. The adoption rate of blockchain-based technologies has surpassed the Internet adoption rate in the 90s and early 2000s. As this industry has grown significantly, so too has the instances of crypto scams. Numerous cryptocurrency scams exist to exploit users. The generally limited understanding of how cryptocurrencies operate has increased the possible number of scams, relying on people’s misplaced sense of trust and desire for making money quickly and easily. As such, investment scams have also been growing in popularity. Mirror Trading International (MTI) has been named South Africa’s biggest crypto scam in 2020, resulting in losses of $1.7 billion. It is also one of the largest reported international crypto investment scams. This paper focuses on a specific aspect of the MTI scam; an analysis on the fund movements on the blockchain from the perpetrators and members who benefited the most from the scam. The authors used various Open-Source Intelligence (OSINT) tools, alongside QLUE, as well as news articles and blockchain explorers. These tools and techniques are used to follow the money-trial on the blockchain, in search of possible mistakes made by the perpetrator. This could include instances where some personal information might have been leaked. With such disclosed personal information, OSINT tools and investigative techniques can be used to identify the criminals. Due to the CEO of MTI having been arrested, and the case currently being dealt with in the court of law in South Africa, this paper also presents investigative processes that could be followed. Thus, the focus of this paper is to follow the money and consequently propose a process for an investigator to investigate crypto crimes and scams on the blockchain. As the adoption of blockchain technologies continues to increase at unprecedented rates, it is imperative to produce investigative toolkits and use cases to help reduce time spent trying to catch bad actors within the generally anonymous realm of cryptocurrencies.

Decentralized Autonomous Organization (DAO): The case of MakerDAO

The global adoption and diffusion of cryptocurrencies and blockchain technologies has given rise to a new form of organizing referred to as decentralized autonomous organizations (DAO). Many DAOs sit at the intersection between decentralized blockchain technologies and finance, so-called decentralized finance (DeFi). This teaching case focuses on one of the most prominent and established DeFi DAOs, MakerDAO, a community-driven initiative that leverages blockchain technology to create a stablecoin pegged to the US Dollar as a basis for decentralized financial services such as lending and yield generation. The case describes the delicate balancing act between centralization and decentralization in the evolution of MakerDAO. It can be used in graduate business programs to achieve the following learning objectives: (1) Understand the concept of decentralized autonomous organization (DAO) as a new form of organizing in which communities leverage blockchain technologies and community-based principles to work jointly on a common goal, (2) Be able to assess the benefits and risks of novel decentralized finance (DeFi) models, such as MakerDAO, which offer alternative financial tools and resources that are not controlled by traditional financial institutions, (3) Evaluate the potential and pathway for disruptive innovation in the era of blockchain, cryptocurrencies, and Web3, where decentralized applications (dapps) on blockchain networks enable decentralized and trustless transactions and interactions.

Study of Factors Influencing Consumer to Adopt Cryptocurrency

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