Perception of Investors Towards Investment In Cryptocurrency

Major Research Project Presentation

Submitted to
Shri Vaishnav Vidyapeeth Vishwavidyalaya, Indore
for the partial fulfillment of
Master of Business Administration
(2019-2021)
by
Nidhi Bahediya
1903DMBA0006437
 Under the Guidance of
Dr. Rajeev Shukla
(Director of SVSM)
 TABLE OF CONTENT

 Introduction
 Review of Literature
 Rationale of the Study
 Objectives of the Study
 Hypothesis
 Research Method
 Findings
 Conclusion
 Suggestion
 References
 Introduction
Cryptocurrency:-

A cryptocurrency is a digital or virtual currency which is an alternate form of money

not available in cash but is present in the form of coins or tokens on the internet that
is secured by cryptography.The cryptocurrencies are based on blockchain
technology.
The cryptocurrencies are not issued by any central authority/government rather they
are issued by an individual or group of individuals.

The first blockchain-based cryptocurrency was Bitcoin, which still remains the most
popular and most valuable. Today, there are thousands of alternate cryptocurrencies
with various functions and specifications.
Contd.......

Transactional cryptocurrencies
The purposes of cryptocurrency is to eliminate all kinds of control of central
authorities and middlemen from our day-to-day transactions. These types of
cryptocurrency that can be store and exchanges for value.Transactional
cryptocurrencies are slowly gaining popularity due to large numbers of people
using it.  
Examples of transactional cryptocurrencies are Bitcoin , Litecoin etc.

Cryptocurrency platforms
Cryptocurrency platforms create a base to build other crypto currencies. It is a base
and a building block to create other decentralized cryptocurrencies.
This type of cryptocurrency is a smart contract feature that enables blockchains.
Smart features are nothing but computing systems that enable self-execution,
which are written in codes, and stored in blockchains.
Examples of platform cryptocurrencies are Ethereum , Neo etc.  
 Review of Literature

 A. Manimuthu, R. V., S., Dr. Rejikumar G., and Marwaha, D., “A Literature Review on
Bitcoin: Transformation of Crypto Currency Into a Global Phenomenon”, IEEE Engineering
Management Review, vol. 47, no. 1, pp. 28-35, 2019.
 Mittal Alka (2017) focuses on merchants and traders who accept this digital currency as a
medium of exchange to overcome its problem of volatility. This will boost the market of
Bitcoins not only in India but also in other developing economies. This emphasizes that to
survive in the system; Bitcoin has to adapt itself to the required technical and operational
innovations. In addition to this, government should impose proper legal framework, to protect
the consumers or users of these digital currencies, as the progress seen in the transactions in
this currency during the past few months is tremendous. 
Contd...
 Authors Joseph Bonneau, Andrew Miller, Jeremy Clark, Arvind Narayanan, Joshua A.
Kroll and Edward W Felten determined 3 components of bitcoins that had to be analyzed
individually, in their paper „SoK: Research Perspectives and Challenges for Bitcoin and
Cryptocurrencies‟(2015). The authors also believe that “bitcoin is a rare case where
practice seems to be ahead of theory” because there isn‟t a scientific model to answer
questions related to bitcoin.

 Akshay A., ShivashankaracharY. - “A Study On Security Issues In Investments And

Transactions In Bitcoins And Cryptocurrencies” In this paper, they have focused on the
unique characteristics of Bitcoin as a Cryptocurrency and the major security issues
related with the transaction and investment of Bitcoins. The security of the Bitcoins is
the major area of research. As its origin is mainly technology based but it is still
vulnerable during transaction process. The security issue is not related only to the mining
and transaction of Bitcoins but its online storage also poses major security threat. This
paper also pointed out the other risks associated with Bitcoins like no regulation
regarding its transaction in India.
 Rationale of the Study

This research helps to find out the perception of investors regarding investment
in cryptocurrency. If responses of individuals are in favour than government of
India should also plan to adapt cryptocurrency, because it is a safest and more
secure than other modes of currency.
 Objectives of the Study

1)To study the level of awareness among investors regarding cryptocurrency as

a virtual currency.

2)To study the perception of investors regarding acceptance of cryptocurrency

as mode of cash less transaction.
 Hypothesis

 H0 There is no significant difference in perception of Male and

Female Investors towards Investment In Cryptocurrency .

 H1 There is significant difference in perception of Male and

Female Investors towards Investment In Cryptocurrency .
 Research Method

This section presents the methodology which was used in order to obtain the
necessary information so as to be able to analyze the topic of study. As a starting
point, the right type and number of participants that are required in order to be
able to conduct a study whose findings will be meaningful.

Type of Research
Research is descriptive research which include a detail study of various factors
which are crucial to know about perception of investor’s and also about having
knowledge of cryptocurrecy.
Contd....

The Sample
In order for the study to be representative, it was thought that a sufficient sample was
required . For collecting data stratified sampling was used and strata were made and
data was collected accordingly, groups were professionals, business class,
service.Sample size of 70 respondents was used for the research. Different investor’s
from different sector were the respondents of the research . For the purpose of this
study not only primary data, also secondary data was collected .

Tools for Data Collection

Primary Data – Primary data for the study was collected through self structured
questionnaire.
Secondary Data – Internet, books, research paper etc. was used as source of
secondary data collection.
Data Analysis Tools
Graphical Analysis and T-test with hypothesis testing and SPSS format tool was
used for data analysis.

Findings
I have prepared a questionnaire which includes some personal details questions
and after that 24 questions related to the topic and cirulated the questionnaire.

Within 10 days I have received responses from 70 people, after collecting the
data made excel sheet and than analyse the data in two parts:-
 Basic questions with the help of bar chart and frequency distribution table.
 Questions which were in likert scale was analysed through T-test.
 Conclusion
 After studying various researches and conducting survey it was
found that approximately 75% of respondents were aware about
the cryptocurrency , this shows that majority of people have
knowledge regarding cryptocurrency and related basics.

 After analyse the data output comes was that majority of people
accepted cryptocurrency as mode of cash less transaction.
 Suggestions

 The study is limited to certain samples only , so if exact result you

want than more sample is needed but due to this pandemic I am not
able to collect more data. Because many people are suffering from
this , so they are not able to fill this questionnaire.

 This study is limited to take responses from certain groups only, not
included all the people.
 References
Garay, J., Kiayias, A., & Leonardos, N. (2017, August). The bitcoin backbone protocol with chains of variable
difficulty. In Annual International Cryptology Conference (pp. 291-323). Springer, Cham.
Everette, J. (2017). Risks and Vulnerabilities of Virtual Currency. Cryptocurrency as a Payment Method. Public-
Private Analytic Exchange Program.
Giudici, G., Milne, A., & Vinogradov, D. (2020). Cryptocurrencies: market analysis and perspectives. Journal of
Industrial and Business Economics, 47(1), 1-18.
Corbet, S., Lucey, B., Urquhart, A., & Yarovaya, L. (2019). Cryptocurrencies as a financial asset: A systematic
analysis. International Review of Financial Analysis, 62, 182-199.

  Webliography
https://inspiredelearning.com/blog/bitcoin-security/

http://www.ijetjournal.org/Special-Issues/NCCRICS/NCCRICS124.pdf

https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1078&context=amcis2015

https://itsblockchain.com/different-type-of-cryptocurrency/

https://www.investopedia.com/terms/c/cryptocurrency.asp