Influential Factors towards Investment in Fintech based Currency: New Evidence from Australian Bitcoin Investors

Abstract

This research seeks to investigate the variables that may boost investment in FinTech based currency by Australian investors. A questionnaire was utilized in the research to gather data from a sample of 237 respondents in Australia. The data obtained were then analyzed using structural equation modeling, basic descriptive statistics, and a sample test. The results indicate that Congeniality, recognition, and advanced features have a considerable effect on investing in the Bitcoin market in Australia. Thus, this study focuses on the traits and aspects of the FinTech based currency market that are likely to clash with Australian investors' religious, cultural, and social views. The latter has been selected in appreciation of the considerable progress achieved by the government of the nation and active financial institutions in the area of finance and trade. In Australia, it has evolved into a global financing and investment hub. Australia has gained experience and model of Fintech-based currency investment at all levels and backgrounds. As such, the objective of the research is to find out how Australian communities see Bitcoin investment through blockchain technology. This is one of the very first studies to examine investors' plans to invest in blockchain-enabled Bitcoin cryptocurrency and factors that may have a bearing on their results. Furthermore, its focus on wealthy communities emphasizes their importance as it reports the unique features of investment based on economic principles.  It should be stressed that this is one of the first research examining the perception and readiness of investor populations to participate in the Bitcoin market. It is thus anticipated to be one of the cornerstones for future research in this field.