Paper Details

Cryptocurrencies are digital/virtual currencies, that are created using cryptographic algorithms for validating transactions. Bitcoin was the first cryptocurrency and remains the best known today. Due to globalisation and developments in digitization technology, the usage of digital payment systems is becoming core to economic evolution. Also, the use of smart gadgets and digital devices and the increasing use of the internet lead to enabling even micropayments. Cryptocurrency is a way of transferring money from peer to peer without a financial intermediary using the secure concept known as cryptography. Bitcoin is one of the largest cryptocurrencies released in 2009. This paper enlightens investors’ perceptions about cryptocurrencies. For this study, an online survey of investors’ opinions about cryptocurrencies was conducted. The primary data was collected through a survey method from 145 respondents in Navi Mumbai. Data was analysed using statistical tool SPSS version 20 and descriptive analysis was done as per the objectives of the study.It was found from the study that investors are not preferring to buy cryptocurrencies due to its constraints and risk as compared with investment in stock market.

Globalization, Cryptocurrency, smart gadgets, Bitcoin