Factors Affecting Consumer Satisfaction and Perception of Cryptocurrency: Understanding the Reasoning Behind Choosing Cryptocurrency

Abstract

In recent years, companies, consumers and the media have all shown an interest in cryptocurrency, most notably Bitcoin, which has led to significant investment. A cryptocurrency is a type of digital money that serves as an intermediate of trade. Even though lots of individuals are aware of Bitcoin, few use it. However, it is unclear what motivates customer adoption of the technology. Undoubtedly, the cryptocurrency market has split people’s views; while some want to learn more about it, others are totally against utilising this cutting-edge technology. The purpose of this study is to examine the factors influencing consumers’ satisfaction and perceptions of cryptocurrency. The following topics are essential to the study of cryptocurrency: (a) customer satisfaction and perception of cryptocurrency, (b) effort expectancy, (c) high transaction speed, (d) financial literacy, (e) performance expectation, (f) perceived value and (g) perceived usefulness. The recommended task is broken into three stages: The first step was to create a questionnaire that examined the satisfaction and perception of cryptocurrency on individuals of Uttar Pradesh. The information in the questionnaire was directly related to the cryptocurrency satisfaction of individuals in Uttar Pradesh. In the second step, the created questionnaire was sent to individuals in Uttar Pradesh. All of the questions in the survey are required to be completed. The comments of concerned persons are evaluated in the third phase. Measurement models and structural models were used to evaluate the data. The findings indicated that features like effort expectancy and perceived usefulness significantly impact the customer to utilise the cryptocurrency.