AWARENESS AND ADOPTION OF CRYPTOCURRENCY AMONG ENTREPRENEURS OF JAIPUR CITY

A shift in how we used to invest and how technological advancements and digitalization have influenced our investments. With the introduction of digital methods of payment and investment tools, Here comes the concept of cryptocurrency. A cryptocurrency is a digital currency that is used for executing transactions, payments, and trading purposes. It’s been more than 10 years since the introduction of the cryptocurrency into our economy and it has been accepted by many individuals as well. One of the studies on cryptocurrency revealed that in the year 2021, out of total investors in India there are only 7.30% crypto users. After lifting of restrictions imposed by Reserve Bank of India in March 2020, cryptocurrency investment has seen an exponential interest. Therefore, this research attempt to find out the awareness and adoption of cryptocurrency among the entrepreneurs of Jaipur city. The purpose of the research is to explore an insight and willingness (adoption of cryptocurrency) among investors of Jaipur city towards blockchain technology and cryptocurrency. Empirically the study evaluates the difference between awareness and adoption of cryptocurrency based on their demographic profile. The research design is exploratory and empirical in nature. The research is based on the data collected through structured questionnaire. The study is conducted on the sample of 150 investors. The findings of the study reveal that blockchain technology which is the base on which cryptocurrency operates has not been familiar among them as in relation to the fame cryptocurrency has gained. In spite of the awareness about cryptocurrency among the investors very few investors are willing to adopt cryptocurrency as an investment alternative because of security issues, not government by regulatory authority and lack of proper knowledge for trading. But people are willing to invest in near future when clear view on cryptocurrency is established. This research will help academicians, researchers and the businesses and financial analyst in knowing the potential of this digital currency in the economy. Also, the business firm may think of investing in cryptocurrency by viewing its scope and future prospects to maximize their returns.

KEYWORDS: Cryptocurrency, Awareness, Adoption, Willingness, Bitcoin.


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