Bitcoins In India – An Overview

Abstract

Now a day’s peoples are dealing with various kinds of online trades using their smart phones and computers. People buying and selling equity shares, preference shares various kinds of debentures, bonds, mutual funds and other kind of financial securities. These processes are very simple in recent years a smart phone or laptop with internet facility can do. Bi coins are the new trends among these online markets in recent years and still growing very large margin. The problem is that the Bitcoin transactions are still not legalized and not supported by the SEBI and RBI. There are lots of problems are associated with it but still millions of people from India were trading in Bitcoins. It is a growing market and corporate giants like face book are planning to enter the bit coin market with their own currency called Libra. This paper is trying to understand the bit coin concepts, working methods and its affects in the Indian economic growth.