AN INTRODUCTION TO CRYPTOCURRENCY AND SMART INVESTMENT

Abstract

Many activities in our daily lives have been merged with the internet and have become more efficient and flexible as a result of the rapid advancement of information and communication technology. The rapid growth of online users has generated new business concepts, such as bitcoin, which have enabled virtual world concepts to thrive. A new business phenomenon has emerged, which is called cryptocurrency. This paper explores the nuances of cryptocurrency including the pros and cons, investment techniques and its usage in the real world. As an eightyear-old technology, cryptocurrency is an encrypted, peer-to-peer network that facilitates digital bartering.With the invention of Bitcoin, the first cryptocurrency, long-standing and unchanged systems of financial payment have been radically transformed. The paper also analyses investment risks in Bitcoin as well as other currencies for describing the impact on Indian citizens.