Cryptocurrencies in India: Challenges and Opportunities

Abstract

In the present times, technological progress has forced humans to use the Internet. Apart from personal work, the use of the Internet has become essential in the financial sector as well. In the economic world, from the general public to businessmen, employees and industrialists, a new currency is being used for more profit, its name is crypto currency. In simple words, it is said that crypto currency is a digital currency, it is used for exchange or transaction by various traders and investors through the Internet. For its exchange, no intermediary bank, financial institution, central authority is required. In this process, the cost is less, the time is less and the transfer is done easily. Today, along with the world, the prevalence of crypto currency is increasing rapidly in India as well. Experts believe that this currency will prove to be more popular and profitable in the future. This research paper is based on the advantages, disadvantages and possibilities of crypto currency in India, in which we will study whether the process of the Government of India for this is positive or negative, etc.