SADHU VASWANI INSTITUTE OF

MANAGEMENT STUDIES FOR GIRLS

ACADEMIC YEAR 2021-2023
MBA I SEM II

NAME- VAISHNAVI N NIMBHORKAR

ROLL NO- 21140
SUBJECT- FMBO
FACULTY NAME- MS.VAISHALI PATIL
ASSIGNMENT NO- 02
SUBMISSION DATE- 28/06/2022
 “A STUDY OF AWARENESS ABOUT
CRYPTOCURRENCIES AMONG THE YOUTH
POPULATION IN PUNE”

INTRODUCTION

A cryptocurrency, crypto-currency, or crypto is a digital

currency designed to work as a medium of exchange
through a computer network that is not reliant on any
central authority, such as a government or bank, to
uphold or maintain it.
Individual coin ownership records are stored in a digital
ledger, which is a computerized database using strong
cryptography to secure transaction records, to control
the creation of additional coins, and to verify the
transfer of coin ownership. Despite their name,
cryptocurrencies are not considered to be currencies in
the traditional sense and while varying treatments have
been applied to them, including classification as
commodities, securities, as well as currencies,
cryptocurrencies are generally viewed as a distinct asset
class in practice. Some crypto schemes use validators to
maintain the cryptocurrency. In a proof-of-stake model,
owners put up their tokens as collateral. In return, they
get authority over the token in proportion to the
amount they stake. Generally, these token stakers get
additional ownership in the token over time via network
fees, newly minted tokens or other such reward
mechanisms.
Cryptocurrency does not exist in physical form (like
paper money) and is typically not issued by a central
authority. Cryptocurrencies typically use decentralized
control as opposed to a central bank digital currency
(CBDC).When a cryptocurrency is minted or created
prior to issuance or issued by a single issuer, it is
generally considered centralized. When implemented
with decentralized control, each cryptocurrency works
through distributed ledger technology, typically a
blockchain that serves as a public financial transaction
database. Traditional asset classes like currencies,
commodities, and stocks, as well as macroeconomic
factors, have modest exposures to cryptocurrency
returns.
 The first decentralized cryptocurrency was Bitcoin,
which first released as open-source software in 2009. As
of March 2022 there were more than 9,000 other
cryptocurrencies in the marketplace, of which more
than 70 had a market capitalization exceeding $1 billion.
In 1983, the American cryptographer David
Chaum conceived an anonymous cryptographic
electronic money called ecash. Later, in 1995, he
implemented it through Digicash, an early form of
cryptographic electronic payments.

OBJECTIVES:
1. To understand in detail regarding various aspects
of cryptocurrency
2. To study the level of awareness among young
population of Pune regarding cryptocurrency as a
virtual currency.
3. To analyze and understand if factors like age and
gender has any relation to the understanding and
knowledge of cryptocurrency.
4. To determine the willingness of youths to choose
Cryptocurrency as an investment tool.
 REVIEW OF LITERATURE

Sudhir Khatwani (CoinSutra) – “Future of Bitcoin and

other Cryptocurrencies in India after RBI's Ban” (2018)
In this article, it has been discussed that the scenario of
Bitcoins and other Cryptocurrencies in Indian Market
after the RBI's ban of transaction of these virtual
currencies in INR (fiat money) through its own entities
like banks and other financial institutions. The author
has discussed the various implications against the ban
of the transactions of these cryptocurrencies through
banks. He has pointed out that the same stand was
taken by Chinese Government and it resulted in
upsurge demand of cryptocurrencies by crypto
investors through other channels. The same can be
done in India also because there are other platforms
and peer to peer transaction facilities available to buy
and sell cryptocurrencies in India. He has also
emphasized on the innovative technology used in
Cryptocurrency, i.e. Blockchain which is going to be the
new Dot Com Boom in the world in coming decade and
by banning the Cryptocurrency in India, the millennial
investors and technocrats will miss a chance to
establish themselves in this field. He has suggested
that, though the case is pending in Supreme Court, the
RBI will mend his stand on the cryptocurrency and try
to regularise it as investment purpose for diversified
financial asset category to minimise its illegal trading in
the black market.

Andrew Phillip; Jennifer S.K Chan; Shelton Peiris, in

their article, A NEW LOOK AT CRYPTOCURRENCIES
(2018), is concerned about the complexities of
Cryptocurrencies as they are yet to be considered. New
proof recommends the most mainstream
Cryptocurrency, Bitcoin, shows numerous assorted
adapted certainties including long memory and
heteroscedasticity. This note consolidates a significant
number of these characteristics into a model to
restrictively quantify the differed idea of
Cryptocurrencies. Understanding these properties will
encourage the assessment of investments. The model
is fit to 224 different Cryptocurrencies to figure out
which of these properties exist. It is discovered that
Cryptocurrencies, have a few several unique properties
including leverage effects and Student-t error
distribution.

From the article, BITCOIN AS A COMPLEMENT TO

EMERGING MARKET CURRENCIES (2016), published by
Jon Carrick, Bitcoin is computerized cash that has
increased its significance as a financial instrument. This
article concentrates to look at Bitcoin's utilization as a
supplement to developing markets monetary forms;
more particularly, examination of the esteem and
unpredictability of Bitcoin in respect to developing
business sector monetary standards and investigate
manners by which Bitcoin can supplement developing
business sector monetary standards. The outcomes
propose that Bitcoin has qualities that make it
appropriate to fill in as a supplement to developing
business sector monetary forms and that there are
approaches to limit Bitcoin's limitations or threats.
Shailak Jani- “The Growth of Cryptocurrency In India:
Its Challenges & Potential Impacts on Legislation” In
this Research Paper the author has tried to explain
how technology has led to the origin of Cryptocurrency
and its growth trend in global market as well as its
business in Indian market. The paper also focuses on
the expectations and confidence of the users towards
cryptocurrency. The paper also envisages that how 21
countries of the world have reacted towards
cryptocurrency i.e. whether Friendly or Neutral or
Hostile stance towards it. The paper also listed the
issues and challenges faced by Cryptocurrency.
World Crypto Index (Cryptocurrency Guide, News and
Reviews)
This platform is available online which provides all the
basic as well as extensive knowledge about
cryptocurrency and daily updates of the
Cryptocurrency. It also keeps track records of
cryptocurrency market where all the cryptocurrencies
are being traded. The cryptography technology is very
well explained here and how this technology makes
cryptocurrencies the most secure form of transaction
system all across globe. Further, it has been explained
that how Cryptography technology can change the
future of Central Banking and Financial Institutions
Safety and Security system.
 Research Methodology

This research on the cryptocurrency awareness was collected

with the help survey of people by using google forms. The
main objective of the study is to study the awareness of
cryptocurrency among the peoples in pune. The research
data collecting through questionnaire.
TYPE OF RESEARCH DESIGH- Descriptive Research Equipment
SAMPLE SIZE- 40 SAMPLES
AREA OF RESEARCH- Pune Mharashtra
SAMPLE DESIGN- Data has been presented with the help of
bar graphs, pie charts etc.
Data Analysis and Interpretation
1. Age group of respondents
Age group Total
18-24 22
25-34 9
35 & above 6
Under 18 3
Grand Total 40
 2. Gender

Gender Total
Female 22
Male 18
Grand Total 40

3. Education Background
Educational Background Total
Graduate 16
Post graduate 16
Under graduate 8
Grand Total 40
 4. People who have heard about cryptocurrency
Heard about Total
No 5
Yes 35
Grand Total 40
 5. Most well-known cryptocurrencies
Crytpocurrency No of people
Bitcoin 36
Ethereum 17
BNB 13
Cardano 5
Dogecoin 12

6. People who have invested in cryptocurrency

Invested Total
No 21
Yes 19
Grand Total 40

7. People who know about legality of cryptocurrency

in India
Is it legal in India to own cryptocurrencies? Total
No 17
No Idea 10
Yes 13
Grand Total 40
 8. People who think cryptocurrency can be used for
payments
Options Total
Maybe 10
No 17
Yes 13
Grand Total 40
 9. Percentage of salary people willing to invest in
cryptocurrency
Percentage Total
10% 9
10-20% 9
20% or above 4
None 18
Grand Total 40

10. People who think cryptocurrency investments

are safe
Options Total
Maybe 15
No 6
Yes 19
Grand Total 40

11. People who are aware about the

cryptocurrency scams
Are you aware of the cryptocurrency scams that people should
be aware of ? Total

No 10

Yes 30

Grand Total 40
 12. Which platform do you use for investing in
cryptocurrency
Which platform do you use for investing in cryptocurrency? Total
Binance 6
CoinDCX 3
Decentralized Apps 3
None 17
Unocoin 6
WazirX 5
Grand Total 40
 13. People who think cryptocurrency is riskier than
stock market?
Do you think cryptocurrency
market is riskier than stock
market? Total
Maybe 10
No 12
Yes 18
Grand Total 40
 13. People who are likely to invest in
Cryptocurrency

On scale of 0 to 5 Total no of people

0 2
1 5
2 7
3 9
4 9
5 8
 14. People’s knowledge on taxation of
cryptocurrency in India
How much tax is implemented on cryptocurrencies in India? total

No Idea 7
Up to 10% 1
Up to 20% 4
Up to 30% 28

Grand Total 40
 15. People who think cryptocurrency or blockchain
is suitable in building financial systems
Will cryptocurrencies or blockchain technology help in building new financial systems? Total

Maybe 15
No 1
Yes 24

Grand Total 40
 16. People who know about other aspects of
cryptocurrency and blockchain like NFTs or Web 3.0
Have you heard of NFTs or web 3.0 ? Total

No 15
Yes 25

Grand Total 40
 FINDINGS
1. This study finds out that nowadays, women are also
showing interest in advance investment opportunities
such as cryptocurrencies as majority of the respondents
are female i.e.55% of total.
2. Majority of the respondents are aware about
cryptocurrencies and 47.5% people have actually
invested in it out of the total research population.
3. Bitcoin is only popular among all the cryptocurrencies as
90% respondents are aware about Bitcoins among all
major cryptocurrencies.
4. Even being youth population majority of them are not
likely to invest in cryptocurrencies due to various reasons
such as risk, volatility of price, legality and lack of
knowledge.
5. Nearly half of the respondents consider investment in
cryptocurrencies as safe and reliable and other half
considers it as unsafe and unreliable.
6. 75% of the respondents are aware that there are scams
regarding cryptocurrency and people should be cautious
while investing in cryptocurrency markets.
7. Around 45% respondents are still not willing to invest in
cryptocurrency from their salaries.
8. This study also shows that awareness about
cryptocurrencies is increasing rapidly as only 12%
respondents were not aware about cryptocurrencies and
were hearing about it for the first time through this.
9. Majority of the respondents 70% know about the
taxation of cryptocurrency in India but still other
respondents 17.5% have no idea about the taxation of
cryptocurrencies.
10. This study also finds out that majority of the
respondents believe that blockchain technology can be
implemented in financial systems.

SUGGESTIONS

1. As cryptocurrency is a part of decentralized system and

it is available across the globe, it is important that
people need to be aware of the cryptocurrency market
as majority of the youth is interested.

2. As Cryptocurrency inherently imbibe the most

innovative technologies of the world currently, so
imposing a direct 30% tax on it will be a loss to the
millennial generation to learn and experience such
innovative product.