Cryptocurrencies in India : A Perspective

Abstract

Cryptocurrencies came into existence in last one decade, and have gained a lot of attention from investors’ community. Legendary investors like Warren Buffett are not in favour of these currencies due to non-existence of intrinsic value. Concepts such as ‘Internet of Value’, ‘decentralization of finance’, and ‘application of blockchain technology’ have contributed to the emergence of this new phenomenon. This chapter is about Cryptocurrency market in India. It covers underlying objectives behind emergence of cryptocurrencies across the world and in India, their use, controversies associated with their use, trading platforms for their trading in India, and risks associated with cryptocurrencies. Suggestive framework for appropriate development in the domain, i.e., cryptocurrencies in India has been proposed at the end.