A Comparative Study of Bitcoin and Other Cryptocurrencies
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 7
Abstract
The world of digital currencies is becoming popular day by day. A cryptocurrency is a digital or virtual currency that uses cryptography for security. It is a decentralized currency as it operates without a single administrator; the transactions take place directly between the users and intermediaries. Bitcoin is a distinct mode of exchange when compared to usual banks. The prices of bitcoins are volatile i.e. they can unpredictably increase or decrease over a period of time. Bitcoins are considered high-risk assets whose transactions can only be refunded and not reversed. The bitcoin came into existence in January 2009, with Satoshi Nakamoto mining the first block of bitcoins ever. Since then, a number of supporters engaged in transactions and received bitcoins. Countries around the world started accepting bitcoin as a legitimate way of currency. However, India hasn’t legalized the use of Bitcoins due to a number of reasons. The objective of this paper is the comparative study between bitcoin and other cryptocurrencies.
Authors and Affiliations
Amandeep Kaur, Avneet Kaur
Keywords
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- EP ID EP412237
- DOI 10.9790/487X-2007072126.
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