Bitcoin: An Innovative Alternative Virtual Currency and the Risk Involved

- Dr. CA Mala Dani, Assistant Professor, Faculty of Commerce, GLS University

Abstract:

Enhanced Digitization and massive internet penetration has brought about a paradigm shift in

the way we do business. Traditional shopping has given way to online shopping. Merchants who

do not have an online presence are fading away fast from the global market. E-Commerce is no

more an option now; it is the need of the hour. Crypto currencies are taking over on Fiat

currencies for obvious reasons. This paper attempt to study the cryptocurrencies, mainly the

Bitcoins and its strong cryptological security which is not just a revolution but an evolution of

the business world that offers individuals and groups the opportunity to profit from exciting and

lucrative arenas of Digital goods and cryptocurrency mining.

Keywords:

Bitcoin, Virtual Currency, Risk

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