Analysis of Cryptocurrency |
Author(s): |
| Monica Uttamchandani , Modern College of Engineering; Prof. Prakash Kene, Modern College of Engineering |
Keywords: |
| Cryptocurrency, Bitcoin, Bitpay, Exchange Rates, OraSaifu |
Abstract |
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This paper identifiedthe understanding of cryptocurrencies including bitcoin and the blockchain. This paper provides a primer on the basics of Bitcoin and discusses the existent narratives about the technology’s potential to facilitate remittances, financial inclusion, cooperative structures and even micro-insurance systems. Due to the fast developments in bitcoins it needed to understand the factors that influence its value formation. At present the value of bitcoin is $7 million of notional value and more than $ 60 million value changes every day. The current active wallets of cryptocurrency are estimated around 6-11 million. The currency exists in 2009 and was accepted as a legal instrument for making payment by various countries. In june 2011 WikiLeaks accept bitcoins for donations. Later it became popular after master card, visa, PayPal. |
Other Details |
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Paper ID: IJSRDV7I30764 Published in: Volume : 7, Issue : 3 Publication Date: 01/06/2019 Page(s): 1052-1056 |
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