Impact of Factors Influencing Investor’s Behaviour towards Cryptocurrency –Mediating Role of Behavioural Intention

Abstract

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. In India, Bitcoin emerged as first cryptocurrency in 2009 and the first commercial transaction too place in the year 2010. Cryptocurrency being most recent financial asset has started to gain popularity lately. Therefore, researchers find a research gap in the academic studies that examines the impact of factors on actual behaviour of investors towards cryptocurrency. Therefore, we conducted this study with the objective to analyse impact of factors on actual behaviour of investors to invest in cryptocurrency. We collected data from Gurugram region using purposive survey method. The data has been analysed using IBM SPSS 4.2 and Hayes Process (model 4) to conduct mediation analysis. The study finds significant positive direct relationships between predictors Attitude, Subjective Norm, Perceived Control Behaviour on Behavioural Intention and of Behavioural Intention on Actual Behaviour. But on regressing Attitude, Subjective Norm, Perceived Control Behaviour on Actual Behaviour, the relationship between Attitude and Actual Behaviour is found to be insignificant. These results shows that BI was fully meditating the relationship between Attitude and Actual Behaviour while in case of other two predictor-outcome relationship, BI was partially mediating the relationship. These findings concur various previous researches.