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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | India and Cryptocurrency: What do Indians think about Cryptocurrency? |
| Authors Name: | Dhruv Goyal |
| Unique Id: | IJSDR2210163 |
| Published In: | Volume 7 Issue 10, October-2022 |
| Abstract: | Cryptocurrency is one of the most emerging and fascinating technologies in the world. It is said to be the future of purchasing. Some people, like Elon Musk(CEO of Tesla) and Bill gates(Co-founder of Microsoft Corporation), think that cryptocurrency is a boon to the world economy, while others, like Warren Buffet (CEO of Berkshire Hathaway) and Ajay Banga( CEO of Mastercard) think that it is a bane to the world's economy. The study aims to analyze both pros and cons of cryptocurrency, to know the perception of Indians about cryptocurrency, and analyze whether India is ready to embrace cryptocurrency as a new medium of exchange. The study sample comprised 108 Indians; aged 18 - 65. All these people belonged to different corners of India. After analyzing their responses and using the percentage method, I can say that people had a general idea of cryptocurrency. They are ready to accept cryptocurrency in their day-to-day life. The main reason why people of India are embracing cryptocurrency is that it is not taxable, i.e. if anybody doesn't sell cryptocurrency and gain profit from it, and low cost of a transaction. Even after that, it is hard to predict the future of cryptocurrency in India. One of the main reasons for that is the high amount of energy needed to perform crypto transactions which India most probably won't be able to produce. |
| Keywords: | Cryptocurrency, Behaviors of people , Government, Environment impact |
| Cite Article: | "India and Cryptocurrency: What do Indians think about Cryptocurrency? ", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.7, Issue 10, page no.962 - 967, October-2022, Available :http://www.ijsdr.org/papers/IJSDR2210163.pdf |
| Downloads: | 000337067 |
| Publication Details: | Published Paper ID: IJSDR2210163 Registration ID:202242 Published In: Volume 7 Issue 10, October-2022 DOI (Digital Object Identifier): Page No: 962 - 967 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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