Global recognition of the developing cryptocurrency market is growing. Policymakers, institutional investors and individual investors are now all very interested in it. In contrast to more conventional methods, the new encrypted blockchain technology gives individual investors modern investment alternatives. The unstable market, on the other hand, causes instability and uncertainty for market participants, leaving a research void for academics to look into what causes these challenges. The purpose of this research is to look into how the growth of cryptocurrencies has affected investor decision-making and the economy. The study employed a method that was quantitative and used a Likert-scale instrument to collect data via an online questionnaire. With the assistance of the software programs SPSS and AMOS, the data were interpreted and evaluated using an SEM analysis. The research exposed was satisfactorily addressed, and the findings supported earlier literary works. The result shows that social influence, perceived risk and profitability impact the crypto decision-making process except for subjective norms. Also, the findings revealed that transaction cost, transparency, employment rate and inflation protection impact the growth of the Indian economy. The study’s primary conclusions are related to issues with data gathering and methodology. Since the survey could not be conducted over a longer period due to schedule constraints, a longitudinal study that included more consumer variables in the analysis would be of interest. Future researchers should concentrate on market factors and how they affect various cryptocurrencies as well. To sum up, a study with a wider scope might yield more important findings.
Padhye et al. (Fri,) studied this question.