Consumer behavior in cryptocurrency adoption

Abstract

The emergence of cryptocurrencies based on blockchain technology has put forward as an alternative to the way the present financial system is organized across the world. The widespread adoption of cryptocurrencies could have multiple short and long term consequences for governments, banks and society. Cryptocurrencies such as bitcoin, ethereum, and cardano have been adopted for various purposes. Some countries have even adopted bitcoin as a legal tender, thus increasing the popularity and usage of the cryptocurrencies. This chapter aims to understand various factors that are helping or hindering the adoption of cryptocurrencies through literature review. It uses the Push Pull Mooring framework to categorize various factors. It also discusses future research directions on this topic.