Factors Influencing Investors’ Preference for Cryptocurrency in the Stock Market: An Empirical Investigation of Indian Investors
摘要
This study aims to identify and rank the critical criteria for cryptocurrency selection using Fuzzy Topsis Multi-Criteria Decision Making (FTMCDM) technique. The study identified nine criteria, namely price stability, security, social acceptance, accessibility, rewards, functionality, supply of coins, circulation of coins, and underlying technology, based on a systematic literature review. Responses from 321 Indian investors were collected in fuzzy numbers, and the weights for each criterion were taken from experts in the field. The results show that price stability, security, and social acceptance are the top three essential selection criteria for cryptocurrency. The findings provide valuable insights for investors, policymakers, crypto exchanges, and third-party crypto wallet firms and analysts.