RM Assignment 1 PDF

# Assignment No: 1 ## Name: Nikita Bhausaheb kadam ## Roll No: 24 ## Division: B ## Class: FYMCA ## Subject: Research Methodology ### 1. In context to the research paper downloaded by you, write in detail the research approach applied by the author. #### Research Paper Name: “A Study on Cryptocurr...

# Assignment No: 1 ## Name: Nikita Bhausaheb kadam ## Roll No: 24 ## Division: B ## Class: FYMCA ## Subject: Research Methodology ### 1. In context to the research paper downloaded by you, write in detail the research approach applied by the author. #### Research Paper Name: “A Study on Cryptocurrency in India” - According to my downloaded research paper, the research approach applied by the author is given below: - There is no doubt that the age of information and communication technology has created many golden opportunities in different aspects. - An increasing number of online users are reviving the concept of the virtual world and creating new business phenomena. Thus, new types of fields, transactions, and currencies are born. - One notable form of finance that emerged in the last few years is digital currency. - *Digital currency is defined as the medium of exchange that can be used in many financial transactions, whether virtual or real, separate from real-world money.* - *Cryptocurrency is a digital or virtual currency that works like a token and is intended to be a global trading method that can keep its value.* - *They are also protected by encryption, which makes it mentally difficult to duplicate and fake.* - *Cryptography offers very strong protection for digital cryptocurrency, which can be thought of as a double or virtual currency. It’s impossible to engage in spending or counterfeiting cryptocurrency.* - A cryptocurrency operates on a decentralized network and based on Blockchain-idea. - In Background Study: The Indian government has said that it would impose a 30% tax (the highest tax rate in India) on income derived from cryptocurrency in Union Budget 2022-2023 document. - They assert that either the Indian cryptocurrency market would come to an end or the Reserve Bank of India would introduce coins. - Need for the study: This research helps us to gain knowledge about cryptocurrencies and their impact. - The production of this study is to enable us to better understand the Bitcoin, Lakshmi coin, digital currencies. The study provides an opportunity to develop and expose analytical and technical skills. - Provide an overview of the Indian cryptocurrency market. - *Problem Statement:* This research is relevant to achieve a deeper understanding of the impact of digital currencies on - investor decision making. - Production and economy. - Analysis of strengths and weaknesses of digital currencies of India. - Study the changes that digital currencies have brought to investors and the economy. - *Review of Literature:* With the invention of innovation and use of digital currency, the world has been developing into a cashless society. - One of the most significant innovations in money is cryptocurrency, which is a digital currency that can be controlled by any central authority or bank and it’s universal. - India is one of the countries that has banned the use and extraction of Bitcoin. However, according to a Supreme Court decision, Bitcoin trading is no longer banned in India from now. That is why it is important to understand Bitcoin trading in India. - *Research Gap:* Research gap is a question or problem that has not been answered by any existing research or research paper within your field. - A search/research gap occurs where there is new idea or idea that has not been studied at all. Sometimes, we find a research gap occurs when all existing research is out of date and needs new/updated research. ### Research Objectives: - Learn how cryptocurrencies are impacting the Indian economy. - Research the current status and future prospects of digital currencies in India. - Understand the importance of digital currencies according to the perceptions of investors. - Analyze investors’ perceptions of digital currencies. - To predict the future outlook of the digital currency investment market. - Check the current profitability of different cryptocurrencies. - Analyze the different types of currencies: their price, performance, profitability etc. - Data Collection Method: In this study, we choose an analytical research method and Secondary Data from: - Financial websites - The website of the Government of India - Journals, newspapers, books, magazines etc. ### Conclusion: - The India government should take a stand in the world of cryptocurrencies as it has huge potential to bring Technical revolution in the country. Taxes on cryptocurrencies gains also add up to huge sums of direct. - The tax that goes to the I-T sector can drive the overall growth of the economy. - Cryptocurrency has a bright future that encourages e-investment, e-business and should have laws ## 2. What points do you feel are missing from the characteristics of good sample design? -> The characteristics of good sample design: 1. Sample design must result in a truly representative sample. 2. Sample design must be such which results in a small sampling error. 3. Sample design must be viable in the context of funds available for the research study. 4. Sample design must be such so that systematic bias can be controlled in a better way. 5. Sample should be such that results of the sample study can be applied, in general, for the universe with a reasonable level of confidence. - Some missing characteristics from good sample design: 1. Sample design must be defined clearly and appropriately for research objectives i.e. clear sampling method. 2. If possible, using random sampling techniques can help to ensure that every member of the population has an equal to chance of being selected. 3. Well defined population, clearly defined the target population is crucial to determine the sampling frame and ensure focus on relevant participants. 4. Sample design, a sufficient sample size is necessary to ensure statistical power and reduce the margin of error. 5. Ethical guidelines should be followed, including obtaining informed consent and ensure participant confidentiality.