Analysis of Consumer Decision Making in Cryptocurrency Market

This report examines the consumer decision-making process regarding cryptocurrency, focusing on consumer motivation, culture, and perception in relation to digital currency use. It highlights the importance of financial awareness and the need for increased awareness of cryptocurrency benefits and drawbacks. The report recommends that the FCA conduct strategic planning to develop goals and objectives for the cryptocurrency market. It also emphasizes that cryptocurrency offers advantages in overcoming the lack of social trust and extending fiscal services, especially in developing countries. The study uses structured interviews to understand users' knowledge and motivations, aiming to inform strategies for increasing cryptocurrency adoption. Desklib provides access to this report and many other study tools to support student learning.

Cryptocurrency decision making
process
The Consumer motivation, culture
and perception in relation to
concurrency use
Recommendation
From above mentioned discussion, it can be
recommended that FCA should increase mass
awareness for digital currency like cryptocurrency.
People have lack of awareness for use of these digital
currency and in order to increase its use, it is important
for FCA to increase awareness.
FCS should also needs to also conduct strategic
planning which helps them to develop different goals
and objectives in market which is important in order to
get success in market.
Reimers, I. and Shiller, B.R., 2019. The impacts of
telematics on competition and consumer behavior in
insurance. The Journal of Law and Economics,
62(4), pp.613-632.
Slater, M. and Flora, J., 2019. Is health behavior
consumer behavior? Health behavior determinants,
audience segmentation, and designing media health
campaigns. In Attention, attitude, and affect in
response to advertising (pp. 273-285). Psychology
Press.
References
Consumer decision making refers to a process through
which consumer select an appropriate products among
different alternatives. This model consist different steps
which is adopted by buyers in order to solve problems and
satisfying needs of consumers. It consist different steps
which is to be followed by consumer while buying
cryptocurrency.
• Needs and problem recognition
• Information search
• Evaluation of alternatives
• Selection
• Purchase decision
The decentralized digital currency which is stored in the form
of online and not turns down under the control of financial
institutions and government is defined as cryptocurrency.
This type of study has an aim of getting and understanding
the knowledge of users as well as their motivation while
using this process through structured interviews. The
emerging fintech, Cryptocurrency provides a large number of
opportunities but also posing some challenges and
drawbacks.
Cryptocurrency gives an important advantage to overcome
from the lack of social trust as well as by extending the reach
to fiscal services. Because they are considered as a way to aid
the process of growth in those countries that are still
developing through expanding financial inclusion and offering
a healthy traceability. Consumers perception in relation to
cryptocurrency states that they use this process in helps them.