INTRODUCTION
Cryptocurrency as we know is a currency in digital form that serve as a medium of exchange. It is monitored and organized by a peer-to-peer network called a blockchain, which also serves as a secure ledger of transactions, e.g., buying, selling, and transferring. Unlike physical money, cryptocurrencies are decentralized, which means they are not issued by governments or other financial institutions.
FinTech, which stands for Financial Technology is the fusion of technology and finance. The prevalence of technology, which can be seen in practically every area of the economy, has unwittingly changed many business models, including those in the financial industry.
A notable development in this regard is the fusion of Technology and Finance, called FinTech. FinTech is disruptive and is predicted to revolutionize the financial ecosystem. The adoption of cryptocurrency ensures cryptocurrency usability in the digital market.
The demand for digital currencies to facilitate smooth and instantaneous financial transactions has recently increased as a result of Fintech innovations including peer-to-peer lending, mobile payments, digital banking, and other high-tech developments. As a follow up to this breakthrough, cryptographic algorithms were used to create a brand-new virtual currency known as cryptocurrency as a replacement for traditional currency. Officially, Cryptocurrencies were launched sometime in 2009 though they were initially introduced in 2008. I will examines the factors that drive the adoption of cryptocurrency among Fintech entrepreneurs. This perspective is important because the growth of Cryptocurrency hinges on its acceptance as a means of payment or legal tender.
FACTORS THAT DRIVES THE ADOPTION OF CRYPTOCURRENCY AMONG FINTECH ENTREPRENEURS
The various factors are-
*Customer satisfaction:
The customer satisfaction metric can quantify how satisfied a cryptocurrency consumer is with that crypto product's competence. It is invaluable to a FinTech entrepreneur as it seeks to enhance or modify its offerings to meet the needs of cryptocurrency users.
*Transparency:
Transparency” means the cryptocurrency and its usability by the consumer. Transparency is the critical element influencing cryptocurrency users.
*Price value:
price value refers to the cost of buying the asset. Producing and maintaining a cryptocurrency has a fee. The term “price value” relates to pricing goods and services based on how much a given customer values a particular cryptocurrency. Businesses set cryptocurrency prices following what customers are willing to pay, as price value is customer-focused pricing.
*Attitude:
A person's actions are affected by how they feel or think about cryptocurrency, defined as attitude. Attitudes include things from loving cryptocurrency to using it for further benefit in the digital market.
I will stop at this for today, in my next article we would delve into the very nucleus of this discourse.
Thank you great readership.