A Study on the Perception of Cryptocurrency in Chennai

Abstract

With easy accessibility to the internet, digital transactions are gaining momentum and businesses are shifting towards online transactions. This has also led to the emergence of cryptocurrency, a decentralized system to enable financial transactions. Cryptocurrency claims to make digital transactions more secure than before using digital ledgers and ensuring transparency. The number of cryptocurrencies has increased manifold in the last year and as of April 2023, there were more than 9,000 cryptocurrencies in the market. Given this rapid growth, it is important to analyze its perception in the Indian market, in our case, Chennai. This study aims at understanding (i) Customer’s acceptance of cryptocurrency(ii) Understand if cryptocurrency is considered one of the investment options (iii) Future of cryptocurrency in India based on the government policy and to gauge the growth of cryptocurrency in the current environment.