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Research in common parlance refers to a search of knowledge. Researchcomprises defining
and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing
and evaluating data; makingdeductions and reaching conclusions; and at last carefully testing
theconclusions to determine whether they fit the formulating hypothesis.One can also define
research as scientific and systematic search for pertinentinformation on a specific topic.


This report is theoretical as well as experienced based. Methodology includes the overall
research procedures, which a researcher follows during the course of study. Research also
involves going through the researches which has already been done before by the scholars.
Findings are based on the answers of the questions been asked and experiences shared by various
experts of the financial industry


The data collection is done by two ways, primary and secondary. For this study it is to be
done by both the methods. The following methods of data collection are used:
 Primary data collection:
Primary information has been collected with the help of a survey in the form of
questionnaire which was tool to collect information/data.
 Secondary information
The Secondary information has been collected by the use of internet, social networking
sites, articles, blogs, journals, research paper,etc.


A pilot study has been conducted in March 2018 to collect data about different aspects of
cryptocurrency. The survey aimed to measure the spread of cryptocurrency use to have a clear
picture from the practical view. It explored what cryptocurrency that the participants use, how
often they use it and how they spend it. Moreover, the survey also explored the participants’
confidence of dealing with cryptocurrency in a time that using such virtual money is not fully
controlled and regulated. The survey also investigated the participants’ expectations of the
future of cryptocurrency.
The survey questionnaire involved 12 questions that were expected to be answered in a short
time (5-10 minutes) in order to save participants’ time and encourage them to participate. I used
online survey website called surveymonkey to design the questionnaire which then distributed
online using Facebook network and cryptocurrency forum websites. The website ResearchGate
was also used to collect data by using the questions’ tab. The questionnaire was also sent to
some participants by email. I collected data from 45 multinational internet users and most of
them were Indians. I filtered them and I found that 31 surveys were valid to be analysed where
the others were discarded since they were incomplete.
Most of the participants were aged between 21-30 years old and they represented 61.29% of
the total participants. Participants who aged between 31-40 represented 32.26% where
participants over 40 years old represented 6.45% only. More than half of the participants were
students and they represented 77.42% where the remaining participants were people in
employment. The following sections highlight the main findings and provide indications as to
how the main research questions might be answered based on the survey results and our analysis

“ A research design is the arrangement of conditions for collection and analysis of data in
a manner that aims to combine relevance to the research purpose with economy in

 What is the study about?

 Why is the study being made?
 Where will the study be carried out?
 What type of data is required?
 Where can the required data be found?
 What periods of time will the study include?
 What will be the sample design?
 What techniques of data collection will be used?
 How will the data be analyzed?
 In what style will the report be prepared?

To complete the survey Measuring the Performance of digital currency in india, descriptive
research design has been used. Descriptive research is being used to study and understand the
objective of the topic as well as the characteristics of the employees. Descriptive research does
not fit neatly into the definition of either quantitative or qualitative research methodologies, but
instead it can utilize elements of both, often within the same study. The term descriptive research
refers to the type of research question, design, and data analysis that will be applied to a given
topic. Descriptive research can be either quantitative or qualitative. It can involve collections of
quantitative information that can be tabulated along a continuum in numerical form, such as
scores on a test or the number of times a person chooses to use a-certain feature of a multimedia
program, or it can describe categories of information such as gender or patterns of interaction
when using technology in a group situation. Descriptive research involves gathering data that
describe events and then organizes, tabulates, depicts, and describes the data collection (Glass &
Hopkins, 1984). It often uses visual aids such as graphs and charts to aid the reader in
understanding the data distribution. Because the human mind cannot extract the full import of a
large mass of raw data, descriptive statistics are very important in reducing the data to
manageable form. When in-depth, narrative descriptions of small numbers of cases are involved,
the research uses description as a tool to organize data into patterns that emerge during analysis.
Those patterns aid the mind in comprehending a qualitative study and its implications

As the questionnaire is self administered one, the survey is kept simple and user friendly. Words
used in the questionnaire are readily understandable to all the respondents.
The questionnaire is made in order to keep it simple and convenient for the respondents. The
questionnaire is a formal standardized questionnaire. If the researcher is looking to test and
quantify a hypothesis and the data is to be analysed statistically, such a questionnaire is designed.
Such a questionnaire is generally characterized by:
 Prescribed wording and order of questions, to ensure that each respondent receives the
same stimuli.
 Prescribed definition or explanations for each question, to ensure interviewers handle
questions consistently and can answer respondents' requests for clarification if they
 Prescribed response format, to enable rapid completion of the questionnaire during the
interview process.

There are no hard and fast rules for a questionnaire, but a few points to be kept in mind are:
1. A well designed questionnaire must meet the research objectives. This may seem obvious but
many research surveys omit important aspects due to inadequate preparatory work, and do not
adequately probe particular issues due to poor understanding. To a certain degree some of this is
inevitable. Every survey is bound to leave some questions unanswered and provide a need for
further research but the objective of good questionnaire design to minimize these problems.
2. It should obtain the most complete and accurate information possible. The questionnaire
designer needs to ensure that respondents fully understand the questions and are not likely to
refuse to answer, lie to the interviewer or try to conceal their attitudes. A good questionnaire is
organized and worded to encourage respondents to provide accurate, unbiased and complete
3. A well designed questionnaire should make it easy for respondents to give the necessary
information and for the interviewer to record the answer, and it should be arranged so that sound
analysis and interpretation are possible.
4. It would keep the interview brief and to the point and be so arranged that the respondents
remain interested throughout the interview.

Preliminary decisions in questionnaire design:

These are nine steps involved in the development of a questionnaire:
1. Decide the information required.
2. Define the target respondents.
3. Choose the methods of reaching your target respondents.
4. Decide on question content.
5. Develop the question wording.
6. Put questions into a meaningful order.
7. Check the length of the questionnaire.
8. Pre test the questionnaire.
9. Develop the final survey


In context of this study, a sample would be the people who are a part of a particular workplace.
A sample is a part of the population that is selected to gather relevant information and data for a
study. It is a number of people that are approached to collect the data. To gather data for a study,
it is not feasible to study the entire population. So a representative of the population that is to be
studied is selected. To conduct this study, a sample size of 100 respondents shall be taken. The
questionnaire is to be filled by all the 100 respondents.
Though the sample is small, it is to be studied because it is convenient. It is a convenience
sampling method. Convenience sampling is done because the sample is found on the basis of
ease of approaching them. The selection of the representative or the sample can be done by
sampling techniques. While selecting a sample it is recommended to select it such that there is
minimal error. On the basis of the selected sample the inferences are noted down. These are
called sample statistics. To select a sample, first of all the relevant population must be identified.
This is done because a sample helps in understanding the population .After identifying the
population it is important to identify a sampling frame. For that a list of population members is
made to select a sample from them. After this the sampling method is decided.