AN OPINION-BASED RESEARCH ON CRYPTOCURRENCY AND IT'S FUNCTIONING IN INDIA

Abstract

This paper aims to analyse the crypto market in India from the viewpoint of consumers who could potentially trade in these markets and extend the extent of their behaviour to the importance of a regulatory body within the economy. The central idea of this paper is to estimate the importance of a central bank in the minds of people and how it affects their trust on a currency which is unregulated. This forms the first tier of the paper In order to get insight into the more technical dynamics of cryptocurrencies, the paper then studies cryptocurrency from the point of view of experts who explain the different dimensions of the crypto markets. This forms the second tier of the paper. The paper aims to analyse from the surveys conducted and the available literature, the nature of the crypto market in India with a more reporting approach than a problem-solving model. The research is based on primary data collected by means of surveys and structured interviews. These are termed as the two tiers in the paper. Using quantitative statistical analysis to find the common trend of the sample and a descriptive approach for the analysis of the interviews, the paper examines how the two tiers behave single-handedly and their dynamic when they interact. 

Data:
Received: 16 Jan 2023
Revised: 13 Mar 2023
Accepted: 17 Apr 2023
Published: 1 May 2023