18 Bco 134

A STUDY ON CONSUMERS AWARENESS AND
PERCEPTION TOWARDS CRYPTOCURRENCY

IN DIGITAL TRANSFORMATION
Project report submitted in partial

fulfillment for the requirement of the Degree
of
Bachelor of Commerce
BY
MADHUMITRA A P – 18BCO134
Under the Guidance of
Dr. K. Hari Priya, MBA, Ph. D
Assistant Professor, Department of Commerce
Department of Commerce Finance

Sri Krishna Arts and Science College
Coimbatore 641 008
April 2021
Sri Krishna Arts and Science College, Department of Commerce Finance

Department of Commerce Finance
Accredited by NAAC with ‘A’ grade
Affiliated to Bharathiar University
Kuniamuthur, Coimbatore 641 008
DECLARATION
I hereby declare that the Project report entitled “A STUDY ON CONSUMERS

AWARENESS AND PERCEPTION TOWARDS CRYPTOCURRENCY IN
DIGITAL TRANSFORMATION” submitted to Bharathiar University,
Coimbatore, in partial fulfillment of the requirements for the award of degree
of Bachelor of Commerce is an original work and it has not been previously
formed the basis for the award of any degree, Diploma, Associateship,
Fellowship or similar titles to any other university or body during the period
of my study.
Madhumitra
Place: Coimbatore Signature of the Candidate
Date: 10/04/2021
Department of Commerce
Accredited by NAAC with ‘A’ grade
Affiliated to Bharathiar University
Kuniamuthur, Coimbatore 641 008
CERTIFICATE
This is to certify that the Project report entitled “A STUDY ON CONSUMERS

AWARENESS AND PERCEPTION TOWARDS CRYPTOCURRENCY IN DIGITAL
TRANSFORMATION” in partial fulfillment of requirements for the degree of
Bachelor of Commerce to Bharathiar University, Coimbatore, is a record of
bonafide work carried out by MADHUMITRA A P and that no part of this
has been submitted for the award of any other degree or diploma and the
work has not been published in popular journal or magazine.
Faculty-in-Charge Head of the Department Principal

Viva voce conducted on:
Internal Examiner External Examiner
Place: Coimbatore
Date: 10/04/2021

ACKNOWLEDGEMENT
First and foremost I thank the almighty for endowing his immense
blessing that helped in each step, towards the completion of the project.
I take this opportunity to express my deep profound gratitude to our

Principal Dr. P. BABY SHAKILA, M.Sc, M.Phil, M.Ed., MBA, Ph.D for all
her engagement, aspiring support and providing her healthy co-operation
throughout the course.
I express my thanks to our HOD Dr.S. Anbumalar, M.Com., MPhil.,

MBA., PGDCA.,Ph.D., for all her engagement and support to complete this
report.
My deepest thanks to (Dr. K. Hari Priya, MBA, Ph.D) for guiding and
correcting various documents of mine, with attention and care.She has taken
pain to go through the report and make necessary corrections as and when
needed.
Finally I express my thanks to my parents who have given support and
encouragement in doing this report in a successful one.
(Madhumitra A P)

INDEX
S No. Module Page No.
1 INTRODUCTION 1
2 REVIEW OF LITERATURE 7
3 OVERVIEW OF STUDY 13
4 DATA ANALYSIS AND INTERPRETATION 25
5 FINDINGS 65
6 SUGGESTIONS 67
7 CONCLUSION 69
BIBLIOGRAPHY 71
ANNEXURE 72

A STUDY ON CONSUMERS AWARENESS AND PERCEPTION THROUGH
CRYPTOCURERENCY IN DIGITAL TRANSFORMATION
CHAPTER 1
INTRODUCTION
Sri Krishna Arts and Science college, Department of commerce Page | 1

1.1 INTRODUCTION:
Money is regarded as a medium of exchange and payment tool. Initially barter system
was used as the significant mode of payment. Over the years, money has changed
its form from coins to paper cash and today it is available in formless form as
electronic money or plastic card. The major change in banks which has been brought
in by the technology is through introduction of products which are alternative to cash
or paper money. Plastic cards are one of those types of innovations through which
the customers can make use of banking services just by owning the card issued by
bank and that too without restricting himself in the official banking hours. Plastic cards
as the component of e - banking have been in use in the country for many years now.
Electronic banking is the new trend significantly adopted by banking sector
worldwide due to its wider scope for the customers as well as banks at large. Various
products have been launched by the banks which help them to meet the basic
requirements of their customers. Credit cards are one of the financial products held
by households in country. Laws are made to ensure that consumers have the
protections and information they need to use cards widely & wisely. There is now a
flood of Indian banks offering credit cards to the potential customers. Multinational
banks operating in India have also joined them.
Currency is anything that is in circulation and can be used as a medium of
exchange. More importantly it has to be accepted widely for it to have intrinsic value.
In early days barter system was widely used. Gold and silver coins began to be used
much later. In between several experiments were made at using unusual items as
currencies. In ancient Sparta for example large iron rods were used as currency.
This was supposedly done to prevent hoarding and keep the people focused on
developing the state. In the Pacific island of Yak giant immovable circular stones
were used as currency. These were called as Rai stones. The currency often had
diameter as long as the height of the person. Hence currency is something which
can be used as a medium of exchange and is acceptable to all parties involved in a
certain transaction.
The latest variation of currency is digital currency. One subset of digital currency
of particular interest to us is cryptocurrency. The unique feature of cryptocurrency is
that it is not regulated by a central bank. This reduces the cost associated with using
the currency but also increases the risk as there is no regulatory oversight. There
are several cryptocurrencies like bitcoin, Ethereum, ripple, Litecoin, etc. Bitcoin is
Sri Krishna Arts and Science college, Department of commerce 2
among the most popular cryptocurrencies. Bitcoin relies on distributed ledger to

ensure security. No single person or organization has control of the ledger. The
technology used is block chain. There cryptography used is called public key
cryptography. In these two keys are generated a public key and private key. The
public key is kept on the distributed ledger and the private key is on the computer.
When a transaction is made both keys have to match before a transaction is carried
out. This prevents copying of bitcoins.
Digital platforms that have the capacity to combine and deploy innovative
technologies create new business models that fundamentally transform the way
business is done. Digital transformation is defined as “the use of new digital
technologies (social media, mobile, analytics or embedded devices) to enable major
business improvements (such as enhancing customer experience, streamlining
operations or creating new business models)”. The transformative influence on
industrial-age products has remained unnoticed in the Information Systems
literature for years. However, due to the easy access and the decreasing cost of
innovative digital technologies many start up are challenging the value creation of
established organizations. In the financial industry, these start-ups are referred to
as Fintechs, which is essentially a combination of “finance” and “technology”.
Fintechs use innovative digital technology to create novel financial products or
services that either improve existing processes or create new business models,
such as robo-advisors or cryptocurrencies. Due to the rising number of new market
entrants, traditional financial institutions such as banks are no more alone in the
market.
Bitcoin is widely regarded as the first modern cryptocurrency – the first publicly used
means of exchange to combine decentralized control, user anonymity, record-
keeping via a blockchain, and built-in scarcity. It was first outlined in a 2008 white
paper published by Satoshi Nakamoto, a pseudonymous person or group.

1.2 STATEMENT OF PROBLEM:
It is obvious that the study is about the key determinants of customer satisfaction
towards cryptocurrency users to acquire the customer satisfaction response to the service as
well as to analyses the most appropriate solutions for the problem. Nowadays the customers
use many digital transformation services. Cashless transaction users have been receiving
many negative feedbacks in terms of Payment gateway failure, Problem with acceptance of
debit/credit card, Failure of Mobile wallet Apps, Delay in confirmation of order, security
transactions, connectivity and Services quality. Therefore, in this research it is very important
to identify the customer’s satisfaction level and feedback on the usage and adoption of
cryptocurrency.
1.3 OBJECTIVE:
● To know the Problems faced by respondents using cashless payment.

● To Study the satisfaction level of consumer using cryptocurrency.
● To evaluate the perception of usage of different modes of cashless
transactions
● To examine the opinion regarding the challenges and benefits of using
cashless transactions.
1.4 SCOPE OF THE STUDY:

This research focuses mainly on cryptocurrency. AS Cryptocurrency is a digital currency
which has not been perceived as legal means of transaction for day-to-day activities till now
in majority of the countries in the world. The study mainly focuses on how consumers are
aware of crypto currency and it's importance. Moreover, the respondent of this research will
randomly select from business people and educational group in Coimbatore district.

1.5 LIMITATION OF THE STUDY:

As the sampling taken were convenience sampling, so it might not necessarily be
the representation of the actual population of the Coimbatore. As the survey was
circulated through Google Survey Forms, which require internet connection. So, this
study is limited to the internet users only. Some of the respondents of sampling units
filled the survey without any interest and knowledge, which lead to sampling error to
some extent. Cryptocurrency is a global product, but this study is mainly based on
the people of Coimbatore, so it will not give clear picture of its adoption at larger
platform as people really want to have this as currency or investment tool.
1.6 RESEARCH DESIGN:

The research was an exploratory followed by descriptive one because the entire project
was based on questionnaire and analysis which is of exploratory nature followed by the
detailed description and analysis so the project is of descriptive design also. The nature of
the study was statistical pertaining actual field conditions.
SAMPLE UNIT:
Individuals who are salaried people and students of various colleges were chosen as samples.
SAMPLE SIZE:
Total Sample size was of 100
SAMPLING TECHNIQUE:
The sampling method used was Non probability Convenience sampling because the
respondents chosen for filling the questionnaire were chosen conveniently from the area of
study which was entire Coimbatore.
PRIMARY SOURCE:
This data includes both qualitative and quantitative data. Data were generated
through questionnaire as a research instrument.
RESEARCH APPROACH: Survey method
RESEARCH INSTRUMENT: Questionnaire

TYPES OF QUESTIONNAIRE: Structured
SECONDARY SOURCES: The data was collected from journals, internet, reports and
publication.
TOOL OF ANALYSIS:
● Percentage Analysis

CHAPTER 2
REVIEW OF LITERATURE

1. Hirschman (1982); Jonker (2005)-We complement our analysis of payment behavior
with qualitative data on payment attribute perceptions. Perceptions - or perceived
differences in payment attributes - have been found to be important determinants of
consumer payment behavior
2.Feinberg Richard A. (1986)-In his paper it was found that consumers prefer plastic
money over paper money and the major benefit that the card provides to the customers is
the convenience and accessibility. The major problem according to them is the increased
transactional costs and unnecessary formalities to procure the cards from the financial
institutions. They felt that the future of plastic money is bright and according to them, the
next thing to come via technology would be the use of digital signatures.
3. Mandeep Kaur and Kamal Preet Kaur(2008)-In their article, “Development of

Plastic Cards Market: Past, Present and Future Scenario in Indian Banks” conclude that
Indian banking sector is accepting the challenge of information technology as all the
groups of bankers have now recognized it as essential requirement for their survival and
growth in future Despite the strong advances in e-payments, an estimated 90 percent of
personal consumption expenditure in India is still made with cash which indicates the
tremendous growth potential of this business. So, this can be considered as mere
beginning which indicates the bright future prospects of plastic card market in India.
4. Alvares, Clifford (2009) -The article reports on the problem regarding fake currency
in India. It is said that the country's battle against fake currency is not getting easier and
many fakes go undetected. It is also stated that counterfeiters hitherto had restricted
printing facilities which made it easier to discover fakes.
phenomenon that people are likely to spend less with credit card and spend more with the
same amount of cash on hand in the same budget and this precept also linked with the
consumer self-convenience, i.e., convenience and easy use which delves into spending.
5.Bansi Patel and Urvi Amin (2012) -in their research paper. Roadway Towards Cash
Less Society” discussed that now days in any transaction Plastic money becomes
inevitable part of the transaction and with-it life becomes easier and development would
take better place and along with the plastic money it becomes possible that control the
money laundry and effective utilization of financial system would become possible which
would also helpful for tax legislation.

6. Vimala V. and Dr. Sarala K.S., (2013).” Stressed on the Usage and perception of
plastic money among the customers of BOI” with emphasis of the awareness level,
perception and usage of new innovative services in regards to plastic money.
7. Emengini and Alio (2014)- “In their article, Cashless economy and financial statement
reporting in Nigeria”, observed that being cashless is an emerging trend prevailing in most
modern economies in the world although that does not necessarily mean that one would
be without cash at all.
8.Zarifis, Efthymiou, cheng, Demetriou (2014) –This research extends theories of trust
from e-commerce to incorporate digital currencies. In particular trust in business to
consumer e-commerce transactions carried out using digital currencies such as Bitcoin is
explored. A model of online trust is considered to be valid in this different transaction
context but the significance of each construct changes and some extensions are necessary.
9.Ben Fung and Hanna Halaburda (2014) - Given technological advances and the
widespread use of the Internet, various digital currencies have emerged. In most cases,
Internet platforms such as Facebook and Amazon restrict the functionality of their digital
currencies to enhance the business model and maximize their profits. While platform-
based digital currencies could increase the efficiency of retail payments, they could also
raise some important policy issues if they were to become widely used outside of the
platform. Thus, it is important to closely monitor the evolution of these digital currencies.
10. Tabrez Haq and Bushra Malik, (2014)- “Consumer response towards the usage of
plastic money” with emphasis on increase of shift of plastic money in India by consumers
from Credit cards to Debit cards -The distribution of plastic money has increased due to the
fact that banking sector has become more aggressive. Moreover, duplication of users is an
important area of concern for the industry which can exaggerate the number of active users.
The present paper makes an attempt to understand the after effects of recession on plastic
money industry and its impact on consumer preferences. The paper duly investigates the
acceptability of the cards among the Indian consumer and the factors influencing the card
choice.
11.Khurana (2015)- He studies the benefits and challenges India might face if it becomes
a cashless nation. It also helps in assessing the meaning of digital India and steps taken by
the government towards achieving the dream of cashless India. After the study no matter

how much the government had done for fulfilling the dream of digital India but there is still
a lot more that can be done to achieve that dream.
12.Kumar (2015) has concluded that the cashless transaction system is reaching its growth
day by day, as soon as the market becomes globalised and the growth of banking sector
more and more the people moves from cash to cashless system.
13.Connolly A Kick (2015)- In his paper he showed what differentiates early organization
adopters of bitcoin from non-adopters. This paper describes a study to understand what
differentiates organization adopters of Bitcoin from non-adopters by comparing their IT-
readiness, innovativeness and social media presence. The craze over cryptocurrency such
as Bitcoin has been likened to a modern-day gold rush, yet academic research has not
caught up. Governments are struggling with the very idea of cryptocurrency systems.
14.Aaron W. Baur, Julian Buhler, Charlotte S Bonorden (2015)- In their paper they
examine cryptocurrencies as a potential disruptive sort of payment method. Due to its
relative importance, we focus on particular on Bitcoin.
15.Prof Trilok Nath Shukla (2016)- in his paper “Mobile Wallet: Present and the Future”
has discussed about mobile wallet, working, types and its advantages and disadvantages.
His analysis included perception of consumers and retailers about mobile wallets. He
concluded that mobile wallets will be used to engage with the customer by the marketers
and digital businesses. Irrespective of the market status of these mobile wallets, marketers
should take advantage of the emerging opportunities.
16.Susan Athey, Iva Parashkevov, Vishnu Sarukkai, Jing Xia: In their paper develops
a model of user adoption and use of virtual currency (such as Bitcoin), and focusing on the
dynamics of adoption in the presence of frictions arising from exchange rate uncertainty.
The theoretical model can be used to analyse how market fundamentals determine the
exchange rate of fiat currency to Bitcoin. Empirical evidence from Bitcoin prices and
utilization provides mixed evidence about the ability of the model to explain prices.
17.Ragaventhar (2016)-He had revealed that today there is a great challenge before the
government in implementing the cashless economy because it deals with the economic
status of a man. Every individual is getting fear of their hard-earned money to be secured
or not when using a digital way of transactions.

18.Peter D Devries (2016)- An analysis of cryptocurrency, bitcoin, and the future.

Technology advances at a rapid rate and the success of a given technology is almost solely
dictated by the market upon which it seeks to improve.
19. Sahoo and Arora (2017) – He concluded that achieving 100% cashless society will
never be possible, but one can always start from a less-cash society and then move towards
becoming mostly cashless. Though cash will still play an important role in discrete
transactions, especially in the most remote areas and informal sector, even these
transactions can be automated.
20 Patil and Mishra (2017) – He had concluded that India is lagging far behind many
developed countries like Belgium, France, Canada, USA, UK, Saudi Arab, etc. in
implementing cashless transactions.
21.Hutchison (2017) – acceptance of electronic monetary exchanges, specifically bitcoin,

by information security professionals; a quantitative study using the unified theory of
acceptance and use of technology.
22. Sas, C., & Khairuddin, I. E. (2017) -Cryptocurrencies are offered to finance projects
in the blockchain arena. This crypto-phenomenon challenges traditional capital raising and
investment mechanisms and many strongly believe in its potential. This paper analyses
some key characteristics of ICOs and investigates potential risks. It also examines the shift
from traditional mechanisms to “cryptos” and studies several features of blockchains. An
overview on trust is provided to detect some trust-enhancing and trust-diminishing aspects
of technologies. Finally, cryptology is discussed to test cryptocurrencies’ potential as
objects of trust.
23. Chowdhury (2018) – He had carried out a study to draw a comparison among the top
five cryptocurrencies available in India based on the market capitalisation rate. It was found
that price fluctuation of each of the cryptocurrencies over the six months starting from
October 2017 till march 2018 has revealed that prices of all cryptocurrencies have gone
down in the month of march whereas In November and December have been the peak time
for almost all cryptocurrencies. It was also concluded that although the strikingly high price
of cryptocurrencies promises high returns, the reason for not investing in cryptocurrencies
outweigh the reasons justifying investment in it.

24.Jhawar and Kushwaha (2018)- in their study “Citizens‟ view on digital initiatives and
e-readiness: A Case Study of AADHAR Project in Madhya Pradesh” have analysed the
factors contributing for the acceptance of technological backed services offered by the
Government of India. It was concluded that citizen was found proactive to avail the e-
services irrespective of their income level. In spite of Government training programs,
individuals were worried about the security and safety issues of these automation systems.
25. Mukhopadhyay and Mandal (2019) – They have conducted a study to investigate the
changing face of the Indian smartphone market in the era of internet and digitalization being
recently observed in the Indian consumer durable markets. It was found in the study that
the global smartphone user rate had been growing rapidly and India becomes a second
largest market. This study also revealed the huge potential of the smartphone market in
India with changing shares of different players in the market.
26.Sury (2019-) in his article, Digitalization of tax administration in India‟ had

studied the significance of digitalization along with the concept of the digital
economy. The study revealed that digitalization for tax administration support for
cost reduction and better compliance in India
27. Lavanya lingareddy and Parthiban Krishnamoorthy (2020) – In their paper

“IMPACT OF DIGITAL TRANSFORMATION ON SECURITY POLICIES AND
STANDARDS” they discussed on new generation information technologies such as
bigdata, cryptocurrency and blockchain

CHAPTER 3
OVERVIEW OF STUDY

Cryptocurrencies, or virtual currencies, are digital means of exchange created and used by
private individuals or groups. Because most cryptocurrencies aren’t regulated by national
governments, they’re considered alternative currencies – mediums of financial exchange that
exist outside the bounds of state monetary policy.
Bitcoin is the preeminent cryptocurrency and first to be used widely. However, hundreds of
cryptocurrencies exist, and more spring into being every month.
What Is Cryptocurrency?
Cryptocurrencies use cryptographic protocols, or extremely complex code systems
that encrypt sensitive data transfers, to secure their units of exchange.
Cryptocurrency developers build these protocols on advanced mathematics and
computer engineering principles that render them virtually impossible to break, and thus to
duplicate or counterfeit the protected currencies. These protocols also mask the identities of
cryptocurrency users, making transactions and fund flows difficult to attribute to specific
individuals or groups. This article from Benzinga Money has more on the basic principles of
cryptography.
Decentralized Control
Cryptocurrencies are also marked by decentralized control. Cryptocurrencies’ supply
and value are controlled by the activities of their users and highly complex protocols built into
their governing codes, not the conscious decisions of central banks or other regulatory
authorities. In particular, the activities of miners – cryptocurrency users who leverage vast
amounts of computing power to record transactions, receiving newly created cryptocurrency
units and transaction fees paid by other users in return – are critical to currencies’ stability and
smooth function.
How Cryptocurrencies Work:

The source codes and technical controls that support and secure cryptocurrencies are
highly complex. However, laypeople are more than capable of understanding the basic concepts
and becoming informed cryptocurrency users.
Functionally, most cryptocurrencies are variations on Bitcoin, the first widely used
cryptocurrency. Like traditional currencies, cryptocurrencies’ express value in units – for
instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
Several concepts govern cryptocurrencies’ values, security, and integrity.

Blockchain:
A cryptocurrency’s blockchain (sometimes written “block chain”) is the master ledger
that records and stores all prior transactions and activity, validating ownership of all units of
the currency at any given point in time. As the record of a cryptocurrency’s entire transaction
history to date, a blockchain has a finite length – containing a finite number of transactions –
that increases over time.
Identical copies of the blockchain are stored in every node of the cryptocurrency’s software
network – the network of decentralized server farms, run by computer-savvy individuals or
groups of individuals known as miners, that continually record and authenticate cryptocurrency
transactions.
A cryptocurrency transaction technically isn’t finalized until it’s added to the blockchain,
which usually occurs within minutes. Once the transaction is finalized, it’s usually irreversible.
Unlike traditional payment processors, such as PayPal and credit cards, most cryptocurrencies
have no built-in refund or chargeback functions, though some newer cryptocurrencies have
rudimentary refund features.
During the lag time between the transaction’s initiation and finalization, the units aren’t
available for use by either party. Instead, they’re held in a sort of escrow – limbo, for all intents
and purposes. The blockchain thus prevents double-spending, or the manipulation of
cryptocurrency code to allow the same currency units to be duplicated and sent to multiple
recipients.
Bitcoin and the Modern Cryptocurrency Boom:
Bitcoin is widely regarded as the first modern cryptocurrency – the first publicly used
means of exchange to combine decentralized control, user anonymity, record-keeping via a
blockchain, and built-in scarcity. It was first outlined in a 2008 white paper published by
Satoshi Nakamoto, a pseudonymous person or group.
In early 2009, Nakamoto released Bitcoin to the public, and a group of enthusiastic supporters
began exchanging and mining the currency. By late 2010, the first of what would eventually
be dozens of similar cryptocurrencies – including popular alternatives like Litecoin – began
appearing. The first public Bitcoin exchanges appeared around this time as well.
In late 2012, WordPress became the first major merchant to accept payment in Bitcoin. Others,
including Newegg.com (an online electronics retailer), Expedia, and Microsoft, followed.
Dozens of merchants now view the world’s most popular cryptocurrency as a legitimate
payment method. And new cryptocurrency applications take root with impressive frequency –
Cryptomaniaks has a great look at the fast-growing world of cryptocurrency sports betting sites
here, to take just one example.

Though few cryptocurrencies other than Bitcoin are widely accepted for merchant payments,
increasingly active exchanges allow holders to exchange them for Bitcoin or fiat currencies –
providing critical liquidity and flexibility. Since the late 2010s, big business and institutional
investors have closely watched what they call the “crypto space,” too. Facebook’s closely
guarded Libra project could be the first true cryptocurrency alternative to fiat currencies,
although its growing pains (described nicely in this article from SavingAdvice.com) suggest
that true parity remains well in the future.
Cryptocurrency Examples:
Cryptocurrency usage has exploded since Bitcoin’s release. Though exact active currency
numbers fluctuate and individual currencies’ values are highly volatile, the overall market
value of all active cryptocurrencies is generally trending upward. At any given time, hundreds
of cryptocurrencies trade actively.
The cryptocurrencies described here are marked by stable adoption, robust user activity, and
relatively high market capitalization (greater than $10 million, in most cases, though valuations
are of course subject to change):
1. Bitcoin
Bitcoin is the world’s most widely used cryptocurrency, and is generally credited with bringing
the movement into the mainstream. Its market cap and individual unit value consistently dwarf
(by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a
programmed supply limit of 21 million Bitcoin.
Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known

companies accept Bitcoin payments, though most partner with an exchange to convert Bitcoin
into U.S. dollars before receiving their funds.
2. Litecoin
Released in 2011, Litecoin uses the same basic structure as Bitcoin. Key differences include a
higher programmed supply limit (84 million units) and a shorter target blockchain creation time
(two-and-a-half minutes). The encryption algorithm is slightly different as well. Litecoin is
often the second- or third-most popular cryptocurrency by market capitalization.
3. Ripple
Released in 2012, Ripple is noted for a “consensus ledger” system that dramatically speeds up
transaction confirmation and blockchain creation times – there’s no formal target time, but the
average is every few seconds. Ripple is also more easily converted than other cryptocurrencies,
with an in-house currency exchange that can convert Ripple units into U.S. dollars, yen, euros,
and other common currencies.

However, critics have noted that Ripple’s network and code are more susceptible to
manipulation by sophisticated hackers and may not offer the same anonymity protections as
Bitcoin-derived cryptocurrencies.
4. Ethereum
Launched in 2015, Ethereum makes some noteworthy improvements on Bitcoin’s basic
architecture. In particular, it utilizes “smart contracts” that enforce the performance of a given
transaction, compel parties not to renege on their agreements, and contain mechanisms for
refunds should one party violate the agreement. Though “smart contracts” represent an
important move toward addressing the lack of chargebacks and refunds in cryptocurrencies, it
remains to be seen whether they’re enough to solve the problem completely.
5. Dogecoin
Dogecoin, denoted by its immediately recognizable Shiba Inu mascot, is a variation on
Litecoin. It has a shorter blockchain creation time (one minute) and a vastly greater number of
coins in circulation – the creators’ target of 100 billion units mined by July 2015 was met, and
there’s a supply limit of 5.2 billion units mined every year thereafter, with no known supply
limit. Dogecoin is thus notable as an experiment in “inflationary cryptocurrency,” and experts
are watching it closely to see how its long-term value trajectory differs from that of other
cryptocurrencies.
6. Coinye
Coinye, a semi-defunct cryptocurrency, is worth mentioning solely for its bizarre backstory.
Coinye was developed under the original moniker “Coinye West” in 2013, and identified by
an unmistakable likeness of hip-hop superstar Kanye West. Shortly before Coinye’s release, in
early 2014, West’s legal team caught wind of the currency’s existence and sent its creators a
cease-and-desist letter.
To avoid legal action, the creators dropped “West” from the name, changed the logo to a “half
man, half fish hybrid” that resembles West (a biting reference to a “South Park” episode that
pokes fun at West’s massive ego), and released Coinye as planned. Given the hype and ironic
humor around its release, the currency attracted a cult following among cryptocurrency
enthusiasts. Undaunted, West’s legal team filed suit, compelling the creators to sell their
holdings and shut down Coinye’s website.
Though Coinye’s peer-to-peer network remains active and it’s still technically possible to mine
the currency, person-to-person transfers and mining activity have collapsed to the point that
Coinye is basically worthless.
7.Dash
Dash (originally known as Dark coin) is a more secretive variant of Bitcoin. Dash offers more
anonymity as it functions on a decentralized master code system which produces transactions
almost untraceably. Launched in January 2014, Dash experienced a growing fan after in a brief
span of time. This cryptocurrency was made and manufactured by Evan Duffield and could be
mined using a CPU or GPU. The rebranding did not change any of its technological features
such as Dark send, InstantX.
8. Zcash
A decentralized and open-source cryptocurrency launched in the second part of 2016, and it
really looks promising. In case Bitcoin is like http for money, Zcash is https, this is how Zcash
defines itself. Zcash offers privacy and discerning transparency of trades. Thus, like https,
Zcash claims to give extra privacy or security where all transactions are recorded and printed
within a blockchain, but details such as the sender, recipient, and amount stay private. Zcash
offers its users the option of ‘shielded’ transactions, which allow for content to be encrypted
using advanced cryptographic procedure or zero-knowledge proof structure called a zk-
SNARK developed by its team
9.Monero (XMR)
Monero is a secure, confidential and untraceable currency. This Open-source cryptocurrency
was launched in April 2014 and shortly spiked great interest among the cryptography
community and fans. The development of this cryptocurrency is totally donation-based and
community-driven. Monero enables complete privacy by employing a special technique known
as ‘ring signatures.’ with this technique, there seems a bunch of cryptographic signatures like
at least one real player — but since all of them appear valid, the real one cannot be isolated.
1. Japan

Being one of the fastest developing technology markets in the world, Japan had to legalize
cryptocurrencies sooner or later. The country’s government has set up a specific PSA (Payment
Services Act) based framework which allows some cryptocurrencies and a number of
exchanges to be used for payment and trading purposes. Japan is now widely considered a hub
for cryptocurrency trading/exchange in Asia.
2. United States
The US government, in 2013, accepted bitcoin as a decentralized virtual currency that can
be used for performing transactions. It was classified as a commodity by CFTC in September
2015.
Bitcoin is also taxable as a property. To sum up, bitcoin is legal in the USA, however, there is
no clarification about the legalization of other cryptocurrencies.
3. Germany
Germany is one of the few European countries that not only allow cryptocurrencies but are
also actively involved in the development of blockchain solutions.
Germany has completely legalized bitcoin allowing citizens to transact and trade in this coin.
The recognition of Bitcoin by the German government has also improved the value of these
coins in the worldwide market.
4. France
By issuing a regulation note on 11 July 2014, the country has legalized the operation of
virtual currencies such as bitcoin, along with cryptocurrency exchanges, taxation and provided
authority to those who are involved in the trading and use of such currencies.
5. Malta
Malta has added its name to the long list of countries that are finally accepting bitcoin and
other cryptocurrencies as a legal mode for digital transactions.
The cabinet of Malta recently approved the bills regarding the regulation of cryptocurrency and
ICOs in the country, which officially makes it a fully-fledged crypto-legal country.
6. Canada
In August 2017, the Canadian government accepted Impak Coin as its first legalized
cryptocurrency. The Quebec regulation authority had previously legalized bitcoin for some
limited business models including ATMs and exchanges.
However, the Bank of Montreal and some other Canadian states do not allow their customers
to use their bank cards for performing cryptocurrency transactions.

7. Belarus
Effecting from March 28, 2019, cryptocurrencies will be legalized in Belarus, as per a recent
order by the government.
In addition to the leading crypto-coins, many exchanges, ICOs, and smart contracts will
also be legal in the country. The step was taken with the aim to enforce the development of a
digital economy. As per the news, crypto activities will be completely tax-free.
8. Holland
It is one of the countries which has shown a positive attitude towards bitcoin and other
virtual currencies. There is a special region, called “Bitcoin City” in Holland where all bitcoin
transactions including retail purchases, trading and business are completely legal.
However, the Holland government has not yet regulated or officially legalized the use of
any cryptocurrency.
9. Vietnam
The trading and purchase of cryptocurrencies are legal in Vietnam; however, the
government of Vietnam doesn’t allow its citizens to use any virtual currency as a payment tool.
That means creating new cryptocurrencies and launching ICOs in Vietnam is completely
legal and so is the trading of cryptocurrency at popular exchanges. The government is also
reportedly working on legalizing bitcoin as a method of payment by 2019 end.
10. Singapore
The use and trading of bitcoin and other popular virtual currencies are legal in Singapore,
but the government doesn’t control the operations or price of these currencies.
Cryptocurrencies, by nature, are supposed to be unregulated.
Therefore, it shouldn’t be a problem for merchants and consumers in Singapore to freely
use cryptocurrencies. The use of bitcoin in Singapore is taxable in some cases.
11. Thailand
The bank of Thailand had legalized the use of bitcoin in the country in 2017. The exchange
and trading of digital currencies are allowed provided that proper care is taken. Only licensed
bitcoin exchanges in Thailand are allowed to exchange cryptocurrencies for Thai Baht.
However, the central bank of Thailand doesn’t allow its users and associated financial
institutions to participate in any kind of cryptocurrency-related business.

12. India
India has finally decided to go along with the cryptocurrency and first on the list would be
the bitcoin.
The country has made some special provisions to keep up the trend and has recently decided
to levy a tax on virtual currency trading.
The Indian government may sooner or later regularize the cryptocurrency in the country
with some special provisions, laws & regulations.
13. Russia
In an announcement made in November 2016, the Federal Tax Service of Russia declared
bitcoins as “not illegal”. Even though it doesn’t say that bitcoins or any other Cryptocurrency
Is Legal & Illegal in the country, people are allowed to purchase, sale or trade in virtual
currencies at their own risk.
The government doesn’t regulate, support or control the exchange of cryptocurrencies but
these are not prohibited from operating.
ABOUT BITCOIN INVESTMENT:

How to Invest in Bitcoin:
Investing in BTC is similar to investing in stocks, except far more volatile because of the
daily swings in BTC. Here are the steps to invest in stocks from the beginning:
• Open a brokerage account at a firm that allows crypto investments

• Deposit funds from your bank into the brokerage account.
• Buy a stock using deposited funds (cash balance).
• Later sell the stock for a gain or loss. Funds are returned to your cash balance.
• The main difference with BTC is for step three; you buy BTC or another cryptocurrency
instead of stock.
With BTC, the above flow is similar in most cases but it depends on the exchange or trading
platform. In some cases, you can buy BTC using your credit card or by transferring funds from
your bank account.
For other platforms, you must transfer BTC directly. This is known as a direct deposit of BTC.

Top 10 Most Popular Bitcoin and Crypto Investing Sites:
Here is our list of the 10 most popular Bitcoin and Crypto sties.
1. Coinbase
As we mentioned above, Coinbase is by far the most popular because you can invest directly
with USD. You can currently purchase Bitcoin, Ethereum, and Litecoin and 30+ other coins
and tokens on the platform. Furthermore, you can earn interest on your USDT, and you can
earn token rewards by completing various activities.
Plus, when you open a Coinbase account, you get a $5 bonus!
2. Gemini
Gemini is a popular platform to invest in crypto because of its focus on security and
transparency. Unlike some exchanges that appear vulnerable, Gemini makes it a focus to
protect its customers.
Plus, when you open a Gemini account and deposit $100, you get a $10 bonus
3. BlockFi:
BlockFi is a cryptocurrency investment platform that allows you to lend and earn interest on
your holdings. Also, instead of selling your coins and tokens, you can also borrow against your
holdings.
If you're just looking to hold your tokens, you can also just let them earn interest for you.
Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the
specified period of time.
4. Kraken:
Kraken is one of the original crypto trading platforms and they have a good selection of coins
and tokens to trade and invest in. They also allow margin trading. However, it's a real exchange,
and not as easy to use as some of the top platforms on this list.
Kraken is one of the few platforms on this list that allow you to trade in DOGE and other,
riskier, tokens.
Note: Kraken offers a limited section of coins and tokens to US customers versus international
customers.

5. Robinhood
Robinhood offers free crypto trades on their platform. They are starting in just a few states, and
with just Bitcoin and Ethereum, but they plan on expanding this quickly. There are limitations,
but it's free!
Plus, when you open a Robinhood account, you get a free share of stock
6. eToro
eToro has been around for a while in the UK and throughout Europe, but they are now allowing
traders in the United States. They offer a huge variety of digital assets to buy and sell on their
platform, and even better, they have a practice trading account so you can give it a try before
you actually use real funds.
Right now, eToro is offering a $50 bonus to new customers who open an account and trade
$1,000 worth of crypto before March 31, 2021.
7. Bitcoin IRA
Bitcoin IRA is a little different than the other platforms here. Unlike most exchanges and
wallets, you're basically just exchanging currency and are subject to paying taxes on your gains
(learn how taxes on your cryptocurrencies work here).
With that being said, Bitcoin IRA combines the best of being a crypto wallet and exchange,
with also being an IRA. That means that your gains inside the account are tax free or tax
deferred
8. Crypto.com
Crypto.com is one of the largest and fastest growing crypto exchanges. It's based in Hong Kong,
but offers a ton of support for US-based customers.
Right now, you can have access to over 90 tokens and coins worldwide, and 50 tokens and
coins if you're in the United States. Plus, the offer solid rates on their crypto savings accounts.
The only major drawback is that it's only app-based at this time, there is no desktop platform.
9. Binance
A great platform for getting into some currencies like Cardano or Neo. Not as easy to use as
some of the top platforms on this list. They do have a decent mobile app, but again, not as easy
to use

Note: Binance.us is the US-version of the platform and has limited coins and tokens to invest
in versus the international version of Binance.
10. Coinmama
Coinmama differentiates itself by letting you buy crypto with a credit card, debit card, Apple
Pay or bank transfer. It supports most the popular tokens. Not as easy to use as some of the top
platforms on this list.

CHAPTER 4
DATA ANALYSIS AND INTERPRETATION

Data analysis and interpretation is the process of assigning meaning to the collected
information and determining the conclusions, significance, and implications of the
findings.
PERCENTAGE ANAYSIS:
A Percentage frequency distribution is a display of data that specifies
the percentage of observations that exist for each data point or grouping
of data points. It is a particularly useful method of expressing the relative frequency of
survey responses and other data. It refers to a special kind of rates. A percentage is
used to determine relationship between the series. This is done by means of bar chart
which displays the number of responses among each category of a variable and the
percentage of responses that falls towards each category of variable. If there are any
missing values of entire data collection process, this analysis will provide a suitability
to omit that entire response.
The percentage analysis is calculated using the formula:

Percentage = No. of Responses \Total no. responses *100
DATA ANALYSIS:
Data Interpretation:
Data interpretation is the process of reviewing data through some
predefined processes which will help assign some meaning to the data
and arrive at a relevant conclusion. It involves taking the result of data
analysis, making inferences on the relations studied, an using them to
conclude

TABLE 4.1
AGE
AGE GROUP NO OF PERCENTAGE

RESPODENTS
20-25 90 90%
25-30 9 9%
30 and above 1 1%
Total 100 100%
INTERPRETATION:
From the above table, it is found that 90% of the respondents are between the age
group of 20 to 25, 9% of respondents falls under age group 25 to 30 and 1% of the respondent
falls under age group of 30 and above
INFERENCE
Hence, majority of the respondents falls under the age group 20 -25.

CHART 4.1
AGE GROUP

TABLE 4.2
GENDER
GENDER NO OF RESPONDENTS PERCENTAGE
MALE 21 21%
FEMALE 78 78%
PREFER NOT TO SAY 1 1%
TOTAL 100 100%
INTERPRETATION:
From the above table, it is shows that 21% of the respondents are male, 78% of the
respondents are female and 1% respondent prefer not to say.
INFERENCE:
Hence, majority of the respondent are female.

CHART 4.2
GENDER

TABLE 4.3
EDUCATIONAL QUALIFICATION
EDUCATIONAL NO OF RESPONDENTS PERCENTAGE

QUALIFICATION
UNDER GRADUATE 83 83%
POST GRADUATE 9 9%
OTHER 8 8%
TOTAL 100 100%
INTERPRETATION:
From the above table, it is found that 83% respondents are under graduates, 9% of the
respondents are post graduates and 8% of the respondents are others.
INFERENCE:
Hence, majority of the respondents are under graduates.

CHART 4.3
EDUCATIONAL QUALIFICATION

TABLE 4.4
OCCUPATION
OCCUPATION NO OF RESPONDENTS PERCENTAGE
EMPLOYEE 7 7%
BUSINESS PERSON 3 3%
HOME MAKER 3 3%
STUDENTS 85 85%
OTHERS 2 2%
TOTAL 100 100%
INTERPRETATION:
From the above table, it is found that 7% of the respondents are employee, 3% of the
respondents are business makers, 3% of the respondents are home maker, 85% of the
respondents are students and 2% of the respondents are others.
INFERENCE:
Hence, majority of the respondents are students.

CHART 4.4
OCCUPATION
2%7%
3%
3%
85%
Employee Business person Home maker Students Other

TABLE 4.5
LOCALITY
LOCALITY NO OF RESPONDENTS PERCENTAGE
URBAN 50 50%
RURAL 50 50%
TOTAL 100 100%
INTERPRETATION:
From the above table, it is found that 50% of the respondents are from urban area and 50%
of the respondents are from rural area.
INFERENCE:
Hence,

CHART 4.5
LOCALITY

TABLE 4.6
NO OF EARNING MEMBERS IN THE FAMILY
NO OF EARNING NO OF RESPONDENTS PERCENTAGE

MEMBERS
1 41 41%
2 33 33%
3 11 11%
3 and above 15 15%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 41% of the respondents have 1 earning member in their
family, 33% of the respondents have 2 earning members in their family, 11% of the
respondents have 3 earning member in their family and 15% of the respondents have more
than 3 earning members in their family.
INFERENCE:
Hence, it is found that majority of the respondents have 1 earning members in their family.

CHART 4.6
NO OF EARNING MEMBERS IN THE FAMILY

TABLE 4.7
MONTHLY INCOME
MONTHLY INCOME NO OF RESPONDENTS PERCENTAGE
25,000 – 50.000 62 62%
50,000 – 1,00,000 27 27%
Above 1,00,000 11 11%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows 62% of the respondent’s income falls between 25,000 –
50,000, 27% of the respondent’s income falls between 50.000 – 1,00,000 and 11% of the
respondent’s income falls above 1,00,000.
INFERENCE:
Hence, it is found that majority of the respondent’s income falls between 25,000 – 50,000.

CHART 4.7
MONTHLY INCOME

TABLE 4.8
PREFERENCE TOWARDS CASHLESS TRANSACTIONS
PREFERENCE TOWARDS NO OF PERCENTAGE

CASHLESS RESPONDENTS
TRANSACTIONS
YES 45 45%
NO 21 21%
MAY BE 32 32%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows 45% of the respondents prefer cashless transaction, 21%
of the respondents don’t prefer cashless transaction and 32% of the respondents for maybe.
INFERENCE:
Hence, it is found that majority of the respondents prefer cashless transaction.

TABLE 4.8
PREFERENCE TOWARDS CASHLESS TRANSACTION

TABLE 4.9
YEARS OF INVESTMENT EXPERIENCE
YEARS OF NO OF RESPONDENTS PERCENTAGE

INVESTMENT
EXPERIENCE
1-3 YEARS 23 23%
3-5 YEARS 7 7%
5 YEARS AND ABOVE 6 6%
NO EXPERIENCE 64 64%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 23% of the respondent have 1 – 3 years of
investment experience, 7% of the respondents have 3 – 5 years of investment experience, 6%
of the respondents have more than 5 years of experience, and 64% of the respondents have no
experience in investment.
INFERENCE:
Hence, majority of the respondents have no experience in investment.

CHART 4.9
YEARS OF INVESTMENT EXPERIENCE

TABLE 4.10
HAVE YOU HEARD OF CRYPTOCURRENCY?
HAVE YOU HEARD OF NO OF RESPONDENTS PERCENTAGE

CRYPTOCURRENCY?
YES 52 52%
NO 48 48%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 52% of the respondents have heard of cryptocurrency
and 48% of the respondents have not heard of cryptocurrency.
INFERENCE:
Hence, majority of the respondents have heard of cryptocurrency.

CHART 4.10
HAVE YOU HEARD OF CRYPTOCURRENCY?

TABLE 4.11
INTEREST IN INVESTING IN CRYPTOCURRENCY
DO YOU HAVE
INTEREST IN NO OF RESPONDENTS PERCENTAGE
INVESTING
CRYPTOCURRENCY?
YES 20 20%
NO 32 32%
MAYBE 48 48%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 20% of the respondents have interest in investing to
cryptocurrency, 32% of the respondents don’t have interest in investing to cryptocurrency
and 48% of the have responded for yes and no.
INFERENCE:
Hence, majority of the respondents have responded for maybe yes and no.

CHART 4.11
INTEREST IN INVESTING IN CRYPTOCURRENCY

TABLE 4.12
TYPE OF CRYPTOCURRENCY PREFERED THE MOST
WHICH TYPE OF
CRYPTOCURRENCY DO NO OF RESPONDENTS PERCENTAGE
YOU PREFER THE MOST
ETHERUM 9 9%
BITCOIN 38 38%
LITECOIN 8 8%
RIPPLE 8 8%
OTHERS 37 37%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 9% of the respondents prefer etherum, 38% of the
respondents prefer bitcoin, 8% of the respondents prefer Litecoin, 8% of the respondents
prefer ripple, 37% of the respondents prefer other type of cryptocurrency.
INFERENCE:
Hence, majority of the respondents prefer bitcoin.

CHART 4.12
TYPES OF CRYPTOCURRENCY PREFERED THE MOST

TABLE 4.13
MODE OF CASHLESS PAYMENTS
MODE OF CASHLESS
PAYMENT YOU PREFER NO OF RESPONDENTS PERCENTAGE
THE MOST
DEBIT CARD 41 41%
CREDIT CARD 20 20%
NET BANKING 32 32%
E-WALLET 7 7%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 41% of the respondents prefer debit card, 20% of the
respondents prefer credit card, 32% of the respondents prefer net banking, 7% of the
respondent prefer e-wallet.
INFERENCE:
Hence, it is found that majority of the respondents prefer debit card.

CHART 4.13
MODE OF CASHLESS PAYMENT

TABLE 4.14
BENEFITS OF CASHLESS TRANSACTION
BENEFITS OF CASHLESS NO OF RESPONDENTS PERCENTAGE

TRANSACTION
CONVENIENT 56 56%
DISCOUNT AND 29 29%

CASHBACK SERVICES
TIME MANAGEMENT 51 51%
REDUCTION IN CRIME 14 14%
OTHER 7 7%
INTERPRETATION:
From the above table, it shows that 56% of the respondents feel it is convenient, 29% of
the respondents responded for discount and cashback services, 51% of the respondents
responded for time management, 14% of the respondent responded for reduction in time, and
7% of the respondent responded for other.
INFERENCE:
Hence, Majority of the respondent feels cashless transaction is convenient to use.

CHART 4.14
BENEFITS OF CASHLESS TRANSACTION

TABLE 4.15
PROBLEMS FACED IN MAKING CASLESS PAYMENT
PROBLEMS NO OF RESPONDENTS PERCENTAGE
NO SECURITY 33 33%
LESS DIGITAL 22 22%

AWARENESS
POOR INTERNET 50 50%

CONNECTIVITY
INCREASE IN INTERNET
FRAUD 34 34%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 33% of the respondents feels it has no security,
22% of the respondents responded for less digital awareness, 50% of the respondent
responded for poor internet connectivity, 34% of the respondent responded for increase in
internet fraud.
INFERENCE:
Hence, majority of the respondents have poor internet connectivity in making cashless
payment.

CHART 4.15
PROBLEMS FACED IN MAKING CASHLESS PAYMENT

TABLE 4.16
BITCOIN INVESTMENT
EVER MADE BITCOIN NO OF RESPONDENTS PERCENTAGE

INVESTMENT
YES 16 16%
NO 84 84%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 16% of the respondents have made bitcoin
investment, 84% of the respondents have never made bitcoin investment.
INFERENCE:
Hence, majority of the respondents have never made bitcoin investment.

CHART 4.16
BITCOIN INVESTMENT

TABLE 4.17
DOMINATION OF CRYPTOCURRENCY IN UPCOMING YEARS
DOMINATION OF
CRYPTOCURRENCY NO OF RESPONDENTS PERCENTAGE
IN UPCOMING YEARS
YES 28 28%
NO 19 19%
MAYBE 53 53%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 28% of the respondents for yes, 19% of the
respondents responded for no, and 53% of the respondents responded for yes and no.
INFERENCE:
Hence, majority of the respondents responded for yes and no.

CHART 4.17
DOMINATION OF CRYPTOCURRENCY IN UPCOMING YEARS

TABLE 4.18
OPINION ABOUT INVESTING IN CRYPTOCURRENCIES
OPINION ABOUT
INVESTING IN NO OF RESPONDENTS PERCENTAGE
CRYPTOCURRENCIES
IT IS SAFE 42 42%
IT HAS SOME RISK 58 58%
TOTAL 100 100%
INTERPRETATION:
From the above table, it shows that 42% of the respondent’s opinion it is safe to invest
in cryptocurrency, and 58% of the respondent’s opinion is it has some risk.
INFERENCE:
Hence, majority of the respondent’s opinion is it has some risk in investing in
cryptocurrency.

CHART 4.18
OPINION ABOUT INVESTING IN CRYPTOCURRENCIES

TABLE 4.19
SATISFICATION LEVEL ON USING DIFFERENT TYPES OF
CRYPTOCURRENCIES
1 2 3 4 RANK
BITCOIN 29 25 24 22 4
ETHERUM 17 31 38 14 2
LITECOIN 19 33 31 17 3
RIPPLE 24 25 27 24 1
INTERPRETATION:
From the above table, it shows that the respondents have given 1st rank for ripple, second
rank for etherum, 3rd rank for Litecoin and 4th rank for bitcoin.
INFERENCE:
Hence, majority of the respondents prefer ripple.

CHART 4.19
SATISFICATION LEVEL ON USING DIFFERENT TYPES OF
CRYPTOCURRENCIES

CHAPTER 5
FINDINGS

SIMPLE PERCENTAGE METHOD:
1. Majority 90% of the respondents are in the age group 20 – 25.
2. Majority 78% of the respondents are female.
3. Majority 83% of the respondents are under graduates.
4. Majority 85% of the respondents are students.
5. Majority 50% of the respondents belongs to both urban and rural since it is equal’
6. Majority 41% of the respondents have 1 earning member in their family.
7. Majority 62% of the respondents income falls between 25,000 – 50,000.
8. Majority 45% of the respondents prefer cashless transactions.
9. Majority 64% of the respondents have no experience in investment.
10. Majority 52% of the respondents have heard of cryptocurrency.
11. Majority 48% Of the respondents responded for maybe yes and no.
12. Majority 38% of the respondents prefer bitcoin.
13. Majority 41% of the respondents prefer debit card.
14. Majority 56% of the respondents feels cashless transaction is convenient to use.
15. Majority 50% of the respondents have poor internet connectivity in making cashless
payments.
16. Majority 84% of the respondents have never made bitcoin investment.
17. Majority 53% of the respondents responded for yes and no.
18. Majority 58% of the respondents opinion is it has some risk in investing cryptocurrency.
19. Respondents gave first rank for Ripple.

CRYPTOCURRENCY IN DIGITAL TRANSFORMATION
CHAPTER 6
SUGGESTION
Page | 67
1.Many people are not aware of cryptocurrency.
2. Cryptocurrency is the best way of investment.
3. Cryptocurrencies are precisely accounted and stored their data in a computerized way so it’s
good with some risk.
4. Cryptocurrency is a good investment, since it is digital factor.
5. Cryptocurrency investment should improve its safety.
6. The value of cryptocurrency is still not solid. There have been recent hikes in its value based
on many factors however they are not structured.
7. Awareness about cryptocurrencies and all related documents are necessary before investing
them.
8. Still there is no awareness about cryptocurrency, it has to be popularized.
9. Cashless transactions are good for emergency but it has increasing internet fraud.

CHAPTER 7
CONCLUSION
Page | 69
The emergence of Bitcoin has sparked a debate about its future and that of other
cryptocurrencies. Despite Bitcoin’s recent issues, its success since its 2009 launch has
inspired the creation of alternative cryptocurrencies such as Bitcoin, Etherum, Litecoin and
Ripple. A Cryptocurrency that aspires to become part of the mainstream financial system
would have to satisfy very divergent criteria. While that possibility looks remote, there is
little doubt that Bitcoin’s success or failure in dealing with the challenges it faces may
determine the fortunes of other cryptocurrencies in the years ahead. Cryptocurrencies such as
bitcoin still have numerous significant obstacles to overcome before they could totally
replace current currency system. In addition to battling the current economic system,
cryptocurrencies have some internal challenges to overcome.

BIBLIOGRAPHY:
JOURNALS:
1. International journal of blockchain and cryptocurrencies
2. Journal of blockchain research
WEBSITES:
https://ieeecs-media.computer.org/media/marketing/cedge_digital/ce-jan20-
final.pdf
https://www.worldwidejournals.com/indian-journal-of-applied-research-
(IJAR)/article/a-study-on-the-awareness-and-perception-of-cryptocurrency-in-
bangalore/MTc3Mjk=/?is=1
http://www.ijarp.org/published-research-papers/apr2019/Awareness-And-
Attitude-Towards-Cryptocurrencies-In-Relation-To-Adoption-Among-College-
Students-In-A-Private-Tertiary-Institution-In-Cagayan-De-Oro-City-
Philippines.pdf
https://www.researchgate.net/publication/335821380_Cryptocurrency_adoption
_current_stage_opportunities_and_open_challenges
http://www.ijsrp.org/research-paper-1218/ijsrp-p8442.pdf
https://www.accentsjournals.org/PaperDirectory/Journal/IJACR/2019/9/5.pdf
Page | 71
ANNEXURE
QUESTIONNAIRE
1. NAME:
2. AGE:
o 20 - 25
o 25 – 30
o 30 and above
3. GENDER:
o Male
o Female
o Prefer not to say
4. EDUCATIONAL QUALIFICATION:
o Under Graduate
o Post Graduate
o Other
5. OCCUPATION:
o Employee
o Business person
o Home maker
o Student
o Other
6. LOCALITY:
o Urban
o Rural
7. NUMBER OF EARNING MEMBERS IN THE FAMILY:
o 1
o 2
o 3
o 3 and above
8. MONTHLY INCOME:
o 25000 – 50000

o 50000 – 100000
o Above 100000
9.DO YOU PREFER CASHLESS TRANSACTIONS?
o Yes
o No
o Maybe
10. HOW MANY YEARS OF INVESTMENT EXPERIENCE DO YOU HAVE?
o 1 – 3 Years
o 3 – 5 Years
o 5 Years and above
o No experience
11. HAVE YOU HEARD OF CRYPTOCURRENCY?
o Yes
o No
12. DO YOU HAVE INTEREST IN INVESTING CRYPTOCURRENCY?
o Yes
o No
o Maybe
13.WHICH TYPE OF CRYPTOCURRENCY DO YOU PREFER THE MOST?
o Etherum
o Bitcoin
o Litecoin
o Ripple
o Others
14. WHICH MODE OF CASHLESS PAYMENT DO YOU PREFER THE MOST?
o Debit card
o Credit card
o Net banking
o E-wallet
15. IN YOUR OPINION WHAT ARE THE BENEFITS OF CASHLESS

TRANSACTIONS?
o Convenient
Page | 73
o Discount and cash back services
o Reduction in crime
o Other
16. WHAT PROBLEMS DO YOU FACE IN MAKING CASHLESS PAYMENTS?
o No Security
o Less digital awareness
o Poor internet connectivity
o Increase in internet fraud
17. HAVE YOU EVER MADE BITCOIN INVESTMENT?
o Yes
o No
18. RANK YOUR SATISFICATION LEVEL FROM THE FOLLOWING TYPES OF
CRYPTOCURRENCIES?
1 2 3 4
Bitcoin
Etherum
Litecoin
Ripple
19.DO YOU THINK CRYPTOCURRENCY WILL DOMINATE OUR COUNTRY IN

UPCOMING YEARS?
o Yes
o No
o Maybe
20.YOUR OPINION ABOUT INVESTING IN CRYPTOCURRENCY?

o It’s safe
o It has some risk

21. YOUR SUGGESTION:

----------------------------------------------------------------------------------------------------------------
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A STUDY ON CONSUMERS AWARENESS AND

PERCEPTION TOWARDS CRYPTOCURRENCY

Project report submitted in partial

Department of Commerce Finance

Sri Krishna Arts and Science College, Department of Commerce Finance

Sri Krishna Arts and Science College

Accredited by NAAC with ‘A’ grade

Affiliated to Bharathiar University

Kuniamuthur, Coimbatore 641 008

I hereby declare that the Project report entitled “A STUDY ON CONSUMERS

Place: Coimbatore Signature of the Candidate

Accredited by NAAC with ‘A’ grade

Affiliated to Bharathiar University

Kuniamuthur, Coimbatore 641 008

This is to certify that the Project report entitled “A STUDY ON CONSUMERS

Faculty-in-Charge Head of the Department Principal

Internal Examiner External Examiner

Sri Krishna Arts and Science College, Department of Commerce Finance

I take this opportunity to express my deep profound gratitude to our

I express my thanks to our HOD Dr.S. Anbumalar, M.Com., MPhil.,

Sri Krishna Arts and Science College, Department of Commerce Finance

4 DATA ANALYSIS AND INTERPRETATION 25

Sri Krishna Arts and Science College, Department of Commerce Finance

Sri Krishna Arts and Science college, Department of commerce Page | 1

among the most popular cryptocurrencies. Bitcoin relies on distributed ledger to

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● To know the Problems faced by respondents using cashless payment.

1.4 SCOPE OF THE STUDY:

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1.5 LIMITATION OF THE STUDY:

1.6 RESEARCH DESIGN:

Total Sample size was of 100

RESEARCH APPROACH: Survey method

RESEARCH INSTRUMENT: Questionnaire

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3. Mandeep Kaur and Kamal Preet Kaur(2008)-In their article, “Development of

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18.Peter D Devries (2016)- An analysis of cryptocurrency, bitcoin, and the future.

21.Hutchison (2017) – acceptance of electronic monetary exchanges, specifically bitcoin,

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26.Sury (2019-) in his article, Digitalization of tax administration in India‟ had

27. Lavanya lingareddy and Parthiban Krishnamoorthy (2020) – In their paper

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How Cryptocurrencies Work:

Several concepts govern cryptocurrencies’ values, security, and integrity.

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Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known

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ABOUT BITCOIN INVESTMENT:

• Open a brokerage account at a firm that allows crypto investments

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