Growth of Cryptocurrency market in India with special reference to Bitcoins trading and its impact on Economy

Abstract

With the advancement of communication technologies and knowledge technologies, many activities are changing in our daily lives. The tremendous growth in the number of internet users has led to a new business plan, a digital code to improve the business concept, of marketing, buying and selling. Cryptocurrency represents important and potentially transformative objects electronically in a wide range of networks and applications such as online social networking sites, social media platforms, global platforms and peer networks. In recent years, the use of digital money in various forms like Bitcoin has become very widespread. This paper studies about the prospect of cryptocurrency. It also investigates the confidence of users in the trading of cryptocurrency specially Bitcoin. Also, the paper examines the regulations related to use of the crypto currency in India. In addition, this paper aims to measure the prevalence of the use of cryptocurrencies to obtain a vibrant picture. This paper analysis how different countries have responded to cryptocurrency rules and laws to have a clear impact of India's regulatory laws.