Cryptocurrency Acceptance Level : Adoption and Effect

Abstract: This study discusses the acceptance level of cryptocurrency in countries of the world. Study takes a deep dive on what does affect the acceptance level of cryptocurrency and what should be expected if same changes would to happen in countries income level, technological level, financial level, and education level. The study gives an overview of current up to date situation of cryptocurrency. In this research we have conducted a cross-sectional data analysis of cryptocurrency acceptance level for year 2021. Study is focused on both decentralized and centralized acceptance level thus why the research has treated both transactions volume on exchanges and Defi. The study found that countries with higher income could have higher acceptance level of cryptocurrency, but the effect is not that immense. Other factors such as education, financial access and internet access had an inconclusive effect on the acceptance level. The study also shows that there is no prove of that pervious qualitative research result upholds or have any systematic relation with quantitative research results.