CRYPTOCURRENCY VALUES CHANGES -A STUDY ON OVERVIEW (original) (raw)
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The post demonetization era in India witnessed a spurt in digital payments. According to the Payments Council of India, the growth rate of the digital payments industry, which was earlier in the range of 20-50 per cent, has accelerated post demonetization to 40-70 per cent (PTI, Money and Banking, 2017). Now when all this was happening, there was something more interesting taking place. The proclivity towards cryptocurrencies witnessed strong rally and now India accounts for more than 11 per cent of such trade globally(PTI, Money, 2018).Witnessing the strong rally, the government repeatedly warned against investment in cryptocurrencies and branded them synonymous to ponzy schemes and reiterated that it does not recognize the cryptocurrencies as legal tender(PTI, Money, 2018). This paper attempts to explore the causes that are pushing the crypto currencies to the crescendo, despite indifferent attitude demonstrated by the legislations. This work also aspires to throw light on the future of crypto currencies in the Indian context.
A Study on Latest Trends and Growth of Crypto Currencies and Its Regulatory Aspect in India
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As the use of cryptocurrencies grows, so are the restrictions that have been put in place to control them globally. This study would assist you in navigating the wide range of Bitcoin rules, legislative attitudes, and actions worldwide. To find out how India regulates the coins and exchanges and whether they have any pending legislation that might influence how they view cryptocurrency. The world of cryptocurrencies exploded last year. Currently, more than $0.9 trillion is invested in cryptocurrencies worldwide. And the number of cryptocurrency users globally is reportedly over 300 million. It reveals the crypto world's key developments in this new study (in 2022) and those that will probably endure at least through 2025.
CRYPTOCURRENCY: EVOLUTION, IMPACTS AND FUTURE IN INDIA
new peer to peer trading through cryptocurrency in India played an important role in encouraging people to make investments and earn profits. Cryptocurrency were evolved over a period of time by Satoshi Nakamoto. Now there are approximately 1384 crypto currecy are available as on Jan 2018. The high frequency of ups and downs of bitcoins has captured the attention of many. Starting from a price of just 1000inJanuary2017reachedto1000 in January 2017 reached to 1000inJanuary2017reachedto15000 in December 2017 has amazed not only the investors but the government as well. It is due to this high volatility that government has issued the warnings three times i.e. in December2013, February2017 and December 2017 to the people not to invest in these bitcoins or other cryptocurrencies. It has shown both positive and negative aspects. Now a days this form of digital money has been started to be accepted by some concerns but due to the governments statements on its deregulated form it raises the concern of people. But when we see the same situations about the cryptocurrency trading in other countries we find that in spite of banns and licensing cryptocurrency and blockchain are still growing in these countries. The present research paper is secondary data base. The data for this paper has been collected through web and alternative revealed sources
Crypto-Currency: Is the Future Dark or Bright
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This study reviews the research work that has been carried out in the field of cryptocurrency and financial risk during past five years (2013-2018).This paper tracks and reviews the research work publish in leading academic journal in above mentioned journal. It then reviews from pragmatic and methodological approach. Design methodology and approach: this study analyses the selected contribution from the perspective of "Financial risk in cryptocurrency." And further compares various studies on the article type and methodologies and research designs used in them. Using relational analysis approach recurrent themes are identified and research clusters are formed. Findings: The analysis leads to the identification of the major parameters namely: Financial risk, market risk, liquidity risk and operational risk and these rea the parameters that are impacting the values of cryptocurrency. We have also analysed the issues and challenges in the cryptocurrency market of India. Implications: We have tried to propose a model and collected the information from various reports and papers. We have also find out that various risk which are associated with CC market are controllable in nature on the other hand some of them are uncontrollable in nature. Originality value: Most reviews rely on bibliometric analysis or simple thematic analysis for literature review. This study provides greater insights by using a research paradigm framework to categorize and summarize the literature. This approach provides a comprehensive yet concise picture of the literature to future researchers.
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Crypto currency is the latest and the most significant development in the financial industry. It has brought a revolution in the Indian financial markets and created a challenge for the banking industry by presenting it as investment opportunity. Bit coin, the first and the most popular crypto currency launched in the year 2009. It has given the other option to the long standing and unchanged financial payment system which is existing for many decades. It is a decentralized digital currency that can be sent from user to user on the peer-to-peer. In the bitcoin network it can be sent without the need for intermediaries, where transactions are done through a public ledger called block chain, where user data is stored anonymously. It has created a robust digital trade markets where there is free flowing trading system without fees. They are not going to replace the traditional system of payments but they have changed the way of making payments through internet and interaction of global markets. In addition to this has given an investment option too. In the light of above facts current research has been conducted to know the status of cryptocurrency in India, various types of crypto currencies existing in India its problems and prospects. It was found that there is no legal regulation to control their operation only current announcement in the budget gains arising from the trading of these currencies has brought under taxation. But till date RBI has not given any recognition to it and the user /investor is responsible for their risk.
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The development of information and communication technologies has undergone rapid changes because of which many activities are integrated online and have become more pliable and effectual. With the tremendous growth of online user's, the concept of virtual word has been activated and have generated a new business occurrence to assist the monetary activities such as purchasing, trading and selling of cryptocurrency. Cryptocurrency constitutes precious and impalpable items that are to be electronically used in various implementations and system such as digital social system and digital worlds. This paper enlightens the readers on how cryptocurrency is functioned. It also lets the readers gain confidence in dealing with cryptocurrency by informing them that the use of such kind of digital money is not entirely authorized. Anyway, this paper aims in guiding the readers about the escalation of cryptocurrency to view it more vividly and practically. This paper also analyses ways of regulations & legislations towards cryptocurrencies and other things like merits, demerits, and criticisms attached to it so that a clear picture can be developed of its impact on various laws to regulate. I.
Crypto Currency as an Emerging Investment Instrument: The Missing Linkkk
SSRN Electronic Journal, 2018
Cryptocurrency has become an issue that have attracted the attention of individuals, investors and government taking into play that the rate at which it is been patronized online and the media hype its getting. This paper tends to examine cryptocurrency as an investment tool and its missing link. However, the paper identifies the major types of cryptocurrencies, how is it exchange and measured. It further revealed the benefits of the digital currency as it is secured; transfers are made easier, less processing charges, removing the bottle necks when using banks and other financial institution as intermediary etc. Despite these benefits, there tend to be a missing links which could affect its operations. Amongst which are lack of government support, transparency issues, subject to loss, theft and fraud, lack of central repository and investors protection clause etc. The paper concludes that cryptocurrency as an economic innovation is disruptive the way it's currently managed and if this vacuum is not adequately addressed it will not survive in the future. The study further recommends that there is need to create a legal & regulatory framework guiding its operations, ensure full disclosure on its transactions, need to be centralized in nature and investors protection clause should be incorporated etc
Cryptocurrency: Value Formation Factors and Investment Risks, 2022
Scientific sources demonstrate different attitudes of researchers to cryptocurrencies because they treat them as a category of currency, virtual money, commodity, etc. Accordingly, the relation to the valuation and risk of cryptocurrency as an investment object is different. The purpose of the article is to identify cryptocurrency value formation factors and determine the risks of investing in cryptocurrency. Cryptocurrency is simultaneously considered a currency, an asset with uncertain income, and a specific product, the price of which is determined by the energy costs for mining new cryptocurrency blocks. Thus, the paper examines the risks of investing in cryptocurrency from several positions. First, the study identifies the factors of formation of the value and risk of cryptocurrency as ordinary money based on comparing cryptocurrency with traditional money. Unlike traditional money, cryptocurrency is not tied to the economic performance of a particular country; also, central banks do not control or regulate their mining. Instead, the cryptocurrency emissions depend on the computational capacity of the equipment used for their mining. As a financial asset, cryptocurrency can be a “financial bubble” because their value increasing often exceeds the cost of mining. On the other hand, given the emergence of cryptocurrency as a phenomenon of the information economy, the paper analyses the impact of specific technical features (cryptographic hashing algorithm, the complexity of creating new blocks, the technology of verification of mining operations, etc.) on the risk of investing in cryptocurrency assets.
A study on the relationship between Crypto-currencies and official Indian foreign exchange rates
Materials Today: Proceedings, 2021
This paper examines the relationship between Crypto-currencies (Bitcoin, Ethereum, Binance Coin, Litecoin) and Official Indian Currencies foreign exchange (USD, GBP, EURO, YEN) rates using daily data from 17-Dec-2019 to 17-Jun-21. A literature review was undertaken on current increase on the importance of cryptocurrencies and the relationship between Crypto-currencies and Indian Currencies foreign exchange rates(ICX). Statistical models of Correlation, Durbin-Watson (DW), multiple regression analysis is employed to establish their relationship. The author's findings from the results that except for YEN with Ethereum and USD with Binance Coin & Litecoin there is absence of any significant relationship between ICX and Cryptocurrencies exchange rate. The outcome showed the occurrence of a significant positive relationship among Bitcoin with Ethereum and Binance Coin; Ethereum with Bitcoin and Binance Coin; Binance Coin with Litecoin and Litecoin with Binance Coin. Finally, the analysis found that because the USD and Litecoin have a negative association, the former can be used for hedging and diversification. The research also reveals that Indian foreign exchange markets have little impact on cryptocurrency markets, which could be attributed to the lack of legal recognition by government, which impacts public opinion, resulting in low public acceptability. Hopefully, the recent decision of the Supreme Court will act as a catalyst for dealing with cryptocurrencies and for promotion of crypto trade integration in India.