USING CRYPTO CURRENCY AND ASSOCIATED ADVANTAGES AND DISADVANTAGES

Abstract

Bitcoin is a crypto currency digital currency which was founded in 2008. It is a form of currency with no physical form, created and held electronically. It can be used to buy things electronically and in that sense it is no different than conventional dollars. It is designed for secure financial transactions that require no central authority, no banks and no government regulators completely transparent and easy to set up. Despite of several advantages bitcoin, it remains as uninvestigated financial product, chance of illegal and questionable activity, absence of relevant theoretical background, unregulated commodity and absence of consumer protection and also prone to al or risks- theft, loss of key, hacking, value collapse. It has already put its footprint in India with significant rise in recent years. It has already put its footprint in India with significant rise in recent years. In India it has not been regularized and has no well defined regularity framework for bitcoin. Hence, people may use it own risk and due care till the above mentioned issues can be resolved and the volatility related to bitcoin can be removed.